Fed minutes show outlook gets ‘dicier’ after all-but-certain September rate hike
Minutes of the Federal Reserve’s last meeting released Wednesday signaled broad support for another interest-rate hike in September with the economy growing strongly, but also deep concern that a major escalation in ongoing trade disputes could derail the economy. Many Fed officials said that if data continue to support their outlook, “it would likely soon be appropriate to take another step in removing policy accommodation,” the minutes said. Fed watchers take that language as support for a move at the next policy meeting, set for late September. Current market odds are signaling a 96% probability of a rate hike in September and 60% chance of another in December. READ @ https://www.marketwatch.com/story/fed-minutes-show-support-for-september-interest-rate-hike-combined-with-anxiety-about-a-trade-war-2018-08-22?siteid=rss&rss=1
Asia markets set for cautious open as the US enters the longest bull market in history
- Asia markets are set to open cautiously on Thursday, following Wall Street’s ambivalent close overnight.
- U.S. and Chinese officials are meeting in Washington to find a resolution to the ongoing trade dispute between the two countries. Read More @ https://www.cnbc.com/2018/08/23/asia-markets-us-politics-us-china-trade-in-focus.html
WHAT IS THE USD SAYING?
USD is forming a Head & Shoulder formation – be caution as the bearish pattern is starting – for now is up as the price rebound from the re-test line. 95.50 to 96 today.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.
- 3.15pm – 4.00pm – German, France and EURO will release their PMI data and is widely expected to be good. Be cautious if you are intending to SELL Euro.
- 6.00pm – UK will release their CBI Sales – It’s a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels. Little or no volatility expected.
- 8.30pm – Canada will release their Corporate Profits and is expected to be good. We buy Canada.
- 9.00pm – US will release Unemployment claims and is expected to be good.
- 9.45pm – US will release their Manufacturing PMI & Services PMI and both are expected to be weak.
- 10.00pm – Euro will release their Consumer confidence data expected to be no change. Volatility expected.
- 10.00pm – US will release their home sales – is a leading indicator – expect volatility.
The market is still fragile as President Trumps wants a weaker USD and at the same time the US Stock Market is at all time high. Be always mindful of your money management.
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