Fed likely to need to hike rates ‘a bit beyond neutral’: Evans – Market is indeed looking for a weak NFP.

“Given the outlook today, I believe this will entail moving policy first toward a neutral setting and then likely a bit beyond neutral,” Evans said in a speech originally intended to be delivered to a conference earlier this week in Argentina and released on Thursday. Evans does not have a vote on the central bank’s rate-setting committee this year but fully participates in deliberations. Read More @ https://www.reuters.com/article/us-usa-fed-evans/fed-likely-to-need-to-hike-rates-a-bit-beyond-neutral-evans-idUSKCN1LM31C?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

ECB preview: On taper auto pilot – EURO BACK ON THE SPOTLIGHT.

Market volatility, Italian fiscal policies and low core inflation will do little to divert the ECB from its taper plans. The auto pilot, turned on in June, should stay on. On Thursday, the ECB will in our view deliver the first step of the pre-announced dovish tapering: a reduction of the monthly QE purchases from €30bn to €15bn – Read More @ https://think.ing.com/articles/ecb-preview-on-taper-auto-pilot

President Trump hints to WSJ that trade fight with Japan could be next – The next biggest Trade war.

  • During a phone call with President Donald Trump, WSJ columnist James Freeman noted that the president sounded “still very focused on eliminating trade deficits with America’s trading partners.”
  • Trump “described his good relations with the Japanese leadership but then added: ‘Of course that will end as soon as I tell them how much they have to pay,” Freeman quotes the president saying.
  • The president has already created significant waves with Canadian, Mexican, Chinese and European trading partners, slapping tariffs on imports and threatening to walk away from decades-old agreements. Read More @ https://www.cnbc.com/2018/09/06/president-trump-hints-to-wsj-that-trade-fight-with-japan-could-be-next.html

WHAT IS THE USD SAYING?

$95 Support is still strong – the NFP data tonight will lead the way – USD is at the tipping point and at the symmetrical junction to make its next move. Like what we said earlier – the market is fragile and the USD might end up as a safe haven.

FRIDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.

  1. 8.00am – Japan will release their average cash earnings – volatility is expected in favor for JPY.
  2. 9.30am – Australia will release their Home Loans which is their leading economic indicator – expected to be good.
  3. 2.00pm – German will release their Industrial production and Trade Balance – expected to be good.
  4. 2.45pm – France will release their Govt budget, industrial production and trade balance – little or no movement expected.
  5. 4.30pm – UK will release their important data – Consumer Inflation Expectations – Volatility expected.
  6. 5.00pm – EURO will release their Revised GDP q/q – expected to be no change.
  7. 8.30pm – Canada & US will release critical data – expect massive volatility for both Canada and USD together with JPY pairs. We are expecting USD to move south tonight. Be cautious if you are trading as the market can go any direction.

Trader will be looking for a good volatility tonight before the week ends. USD so far ended flat with little or no volatility – but tonight it will set a pace for next week.

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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