Trump calls Fed ‘only problem’ in U.S. economy; markets slump

President Donald Trump blasted the Federal Reserve on Monday, describing it as the “only problem” for the U.S. economy, as top officials convened to discuss the growing rout in stock markets caused in part by the president’s attacks on the central bank. Read More @ https://www.reuters.com/article/us-usa-treasury/trump-calls-fed-only-problem-in-u-s-economy-markets-slump-idUSKCN1ON0VC?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

Stocks may try to bounce but are heading for worst December ever

  • After the worst Christmas Eve performance ever, stocks could try to bounce later in the week, but strategists don’t expect to see any significant or sustainable rally just yet.
  • About 70 percent of the stocks in the S&P 500 are in a bear market, and the index itself fell into bear territory — or down more than 20 percent from its high — on Monday.
  • Big funds could reallocate some money to stocks, helping the market as the final trading day of the year approaches next Monday, but that would be a short-term phenomenon. Read More @ https://www.cnbc.com/2018/12/24/stocks-may-try-to-bounce-but-heading-for-worst-december-ever.html

Trump savages Federal Reserve as stock plunge worsens

President Donald Trump has lashed out at America’s central bank as a stock market whose gains he once took credit for continued a historic plunge. In a tweet, Mr Trump said the Federal Reserve was “the only problem” of the American economy. Mr Trump’s treasury secretary meanwhile scrambled to calm investors. However, the Dow Jones fell more than 650 points on Monday, and is on track for its worst December since 1931 during the Great Depression. The turmoil comes amid a partial government shutdown, US-China trade tensions and reports the president has discussed firing Fed chairman Jerome Powell. Read More @ https://www.bbc.com/news/world-us-canada-46675051

WHAT IS AUD, CAD, NZD, SP500 AND OIL TECHNICAL CHARTS SAYING?

Oil plunges 6 percent as economic slowdown fears grip market

Oil prices plunged more than 6 percent to the lowest level in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market.  U.S. crude futures CLc1 and global benchmark Brent LCOc1 hit their lowest levels since 2017 during the session, putting both benchmarks on track for losses of about 40 percent in the fourth quarter. “What’s happening in the stock market is raising fears that the economy is grinding to a halt and thereby will basically kill any future oil demand,” said Phil Flynn, an analyst at Price Futures Group in Chicago. “They’re pricing in a slowdown in the economy if not a recession with this drop.” Read more @ https://www.reuters.com/article/us-global-oil/oil-plunges-6-percent-as-economic-slowdown-fears-grip-market-idUSKCN1ON01P?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WEDNESDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES

  1. 7.50am – Monetary Policy meeting minutes – expect a little volatility – but JPY 2019 – WILL move to safe haven.
  2. 1.00pm – BOJ Core CPI – little or no change – JPY will range
  3. 10.00pm – SP CS COMPOSITE – expected to be good – we maintain BUY for USD.
  4. 11.00pm – Richmond manufacturing Index – expected to be good.

Do remember is holiday season and spreads from the bank are not very good; volatility remains small and do remember maintain good money management at all times.

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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