Powell pledges the Fed will ‘act with authority’ if inflation spikes

Italy weighs on global stocks, but Dow bucks trend to mark record high close

Stock indexes around the globe weakened on Tuesday, European assets sold off and Italy’s bond yields hit multi-year highs after an Italian lawmaker made anti-euro comments, though Wall Street’s blue-chip index bucked the trend and set a new record.  The provision specifies that if one of the current North American Free Trade Agreement partners enters a free trade deal with a “non-market” country such as China, the others can quit in six months and form their own bilateral trade pact. The clause, which has stirred controversy in Canada, fits in with U.S. President Donald Trump’s efforts to isolate China economically and prevent Chinese companies from using Canada or Mexico as a “back door” to ship products tariff-free to the United States. Read More @ https://www.reuters.com/article/us-global-markets/italy-weighs-on-global-stocks-but-dow-bucks-trend-to-mark-record-high-close-idUSKCN1MC02M?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

Trade pact clause seen deterring China trade deal with Canada, Mexico

China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday.  The provision specifies that if one of the current North American Free Trade Agreement partners enters a free trade deal with a “non-market” country such as China, the others can quit in six months and form their own bilateral trade pact. The clause, which has stirred controversy in Canada, fits in with U.S. President Donald Trump’s efforts to isolate China economically and prevent Chinese companies from using Canada or Mexico as a “back door” to ship products tariff-free to the United States. The United States and China are locked in a spiraling trade war that has seen them level increasingly severe rounds of tariffs on each other’s imports. Read More @ https://www.reuters.com/article/us-trade-nafta-china/trade-pact-clause-seen-deterring-china-trade-deal-with-canada-mexico-idUSKCN1MC305?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE USD INDEX SAYING TECHNICALLY?

The USD is resilient even with all the turmoils on trade war, rate hike, low inflation, and others. This clearly shows that USD still dominate the global market, however if the USD continues to stay strong it will affect US economy in no time with “MAKE AMERICA GREAT AGAIN” countries will work with one another with cheap currencies and enjoy the trade. President Donald Trump is not going to be too happy with that. The market will continue to swing moving forward. Traders be cautious and always keep money management at your side all the time.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 9.30am – Australia will release their Building Approvals which is a leading indicator – we expect the data to be good – we Buy AUD.
  2. 3.15pm – 4.00pm – Euro will release – Germany, Italy, France and EURO Service PMI – we are expecting good data – we are looking for BUY Zone on any EURO lower movements.
  3. 4.30pm – UK will release their Services PMI – expect very good volatility in favor for GBP.
  4. 5.00pm – EURO will release their retails sales – expected to be good.
  5. 8.15pm – ADP employment data – expected to be no change or lesser.
  6. 9.45pm – US will release their Final Services PMI – we expecting no change on the data.
  7. 10.00pm – US will release their ISM Manufacturing data – It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy. expected no change or weaker.
  8. 10.30pm – Oil inventory report – we are expecting the demand to continue wth low inventory.

We still believe that the market is fragile. Be cautious and always put money management as your number 1 priority.

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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