Alan Greenspan: Investors should prepare for the worst (We agree with Alan Greenspan)

Alan Greenspan says the party’s over on Wall Street.

The former Federal Reserve chairman who famously warned more than two decades ago about “irrational exuberance” in the stock market doesn’t see equity prices going any higher than they are now.
“It would be very surprising to see it sort of stabilize here, and then take off,” Greenspan said in an interview with CNN anchor Julia Chatterley.
He added that markets could still go up further — but warned investors that the correction would be painful: “At the end of that run, run for cover.” Read More @ https://edition.cnn.com/2018/12/18/business/alan-greenspan-stock-market-party-over/index.html

Markets Today: Oil lower, Euro economy weaker

Overview: Under pressure

  • Oil gets whacked again in size and some; WTI off the best part of an eye-glazing $4, down nearly 8%! Brent following, not far behind
  • Trump puts more pressure on the Fed after WSJ calls for a pause
  • German Ifo in December eases back again, though not to a low growth level; US housing surprises higher for once
  • Xi delivers defiant read-through political message but cooler analysis suggests he still wants to do a trade deal as China’s economic growth goals and reforms are decided today through Friday at key meeting
  • UK Cabinet meets to discuss no deal Brexit and (vain?) hope to get a deal passed by the Parliament; Cable still trading above 1.26, AUD/GBP just under 0.57
  • Dairy auction higher again; little to no further Kiwi impact
  • After testing 0.72, AUD back down below the figure
  • NZ BoP/trade details today ahead of GDP tomorrow Read More @ https://business.nab.com.au/markets-today-oil-lower-euro-economy-weaker-32706/

WHAT IS THE USD SAYING?

USD is hungry for a new high – be cautious and never overtrade – FED will be announcing their monetary policies at 2am – Hong Kong Time. Massive volatility is expected.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES

  1. 5.30pm – UK will release their CPI data – expected to be weak or no change – we maintain SELL for GBP.
  2. 7.00pm – UK will release their CBI industrial expectation – It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their expectations can be an early signal of future economic activity such as spending, hiring, and investment.
  3. 9.30pm – Canada will release their CPI data – market is expecting a negative inflation – we maintain SELL for CAD.
  4. 11.00pm – 11.30pm – US will release their homes sales and oil inventories – both are expected to be in favor for the USD. We sell oil and buy USD.
  5. 3.00am (Thursday) – FOMC will take its order – be cautious the market is expecting the FED to raise rates to normalise the market – We buy USD.
  6. 5.45am – New Zealand will release their GDP – expected to be weak – We sell NZD.

High Risk Investment Warning:

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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