ECB ends asset purchases, on watch for future risks

The European Central Bank officially ended on Thursday its lavish post-crisis asset purchase scheme but promised to keep feeding stimulus into an economy struggling with an unexpected slowdown and political turmoil. Having long flagged the end of quantitative easing, the ECB had little choice but to stop the bond buys. But it signaled it would take its time before tightening policy any further given slower growth, a looming trade war, the prospect of a hard Brexit and budget tensions in Italy and France. Read More @ https://www.reuters.com/article/us-ecb-policy/ecb-ends-asset-purchases-on-watch-for-future-risks-idUSKBN1OB2YD?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

ECB Will Reinvest Maturing QE Bonds Over a Year in Revised Plan

The European Central Bank extended its window for reinvesting bonds held under its quantitative-easing program, giving itself one year instead of three months to make purchases. The move is aimed at ensuring the central bank has the flexibility to avoid rocking the market, given that the value of bonds maturing from the 2.6 trillion-euro ($3 trillion) portfolio can vary wildly from month to month. Read More @ https://www.bloomberg.com//news/articles/2018-12-13/ecb-will-reinvest-maturing-qe-bonds-over-a-year-in-revised-plan?srnd=markets-vp

U.S. recession risks jump, Fed rate hike expectations slump: Reuters poll

The risk of a U.S. recession in the next two years has risen to 40 percent, according to a Reuters poll of economists who also found a significant shift in expectations toward fewer Federal Reserve interest rate rises next year.  What has fueled concerns of a downturn is the flattening of the U.S. yield curve – with the spread between two- and 10-year note yields falling to less than 10 basis points, the smallest gap since the run-up to the last U.S. recession. A flattening yield curve suggests investors believe economic growth and inflation will slow. A yield curve inversion has preceded almost all recessions over the last half-century. The probability of a U.S. recession in the next two years has jumped to 40 percent, according to the median of those polled, the highest since that question was first asked in May this year. Read More @ https://www.reuters.com/article/us-usa-economy-poll/u-s-recession-risks-jump-fed-rate-hike-expectations-slump-reuters-poll-idUSKBN1OD00P?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE USD TECHNICAL CHARTS SAYING?

USD Standstill – swings are maintained – will the USD move any higher? Recession and FED rate hike on the spotlight – we maintain cautious for fresh news ahead.

TODAYS NEWS THAT MIHT AFFECT YOUR TECHNICAL TRADES.

  1. 10.00am – China will release a series of news – Fixed asset investments, unemployment and retails sales – all are expected to be good.
  2. 12.30pm – Japan will release their Industrial production – little or no movement expected.
  3. 3.00pm – Germany will release their WPI  – It’s a leading indicator of consumer inflation – when wholesalers charge more for goods and services the higher costs are usually passed on to the consumer.
  4. 4.15pm – 5.00pm – Germany, France and EURO will release there Manufacturing and Services PMI – expected to be mixed – we maintain SELL for EURO.
  5. 9.30pm – US will release their retail sales – expected to be good as the festive season draws near.
  6. 10.45pm – US will release their Manufacturing PMI & FLASH PMI – both are expected to be have no change. Little or no movement expected.

SATURDAY – Be cautious if you are trading EURO as Mario Draghi ECB Chairman is expected to speak to at 6.30pm – Monday Gaps are expected for EURO.

Traders be cautious over the weekend and don’t keep too many big position open as the market stays fragile.

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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