China Cuts Reserve Ratio, Releases 1.2 Trillion Yuan Amid Rising Trade War, Record Defaults

China’s central bank announced it would cut the Required Reserve Ratio (RRR) for most banks by 1.0% effective October 15 for the fourth time in 2018, a little over three months after the PBOC announced a smaller, 0.5% cut on June 24, as Beijing seeks to stimulate the slowing economy amid the growing trade war with the US, a slumping stock market, a sliding yuan and a record number of bond defaults. Read more @ https://www.zerohedge.com/news/2018-10-07/china-cuts-reserve-ratio-releases-12-trillion-yuan-amid-rising-trade-war-record?

PESO continues to get beaten up with China debt rise and Trade war against US. FED raise increase also leads to the USD going and peso moving forward. A weaker peso should be all good for the PSEi – as foreigners soon will rush in to buy the PSEi Market. As an investor is never been a better time to buy Philippine Stocks but our traders waits at the sideline for the PSEi to make its move. Today the USD – PESO = 54.22.

TECHNICAL CHARTS OF PSEi

FINWAZE traders focus on the PSEi and then jump to actual stocks for accurate entry. PSEi fall will continue below 7000, therefore we hold our buys till the price shows recovery. Go to member section for our stock pick – is free for members. For more information email to support@finwaze.com or info@finwaze.com.

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Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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