Stocks plunge may have been a too fearful reaction to trade, economic worries
- Stocks plunged on warnings from the bond market that the global economy could be slowing, but strategists say it may be overreacting.
- A bond market move, where longer duration interest rates fall below shorter duration rates, raised concerns that a recession is coming.
- But analysts say it is typically far into the future before a recession hits, and stocks do fairly well ahead of that. Read More @ https://www.cnbc.com/2018/12/04/stocks-plunge-may-have-been-a-too-fearful-reaction-to-trade-economic-worries.html
Trump says if no China trade deal possible, ‘I am a Tariff Man’
U.S. President Donald Trump on Tuesday held out the possibility of an extension of the 90-day trade truce with China but warned he would revert to tariffs if the two sides could not resolve their differences. Trump said his team of trade advisers led by China trade hawk U.S. Trade Representative Robert Lighthizer would determine whether a “REAL deal” with Beijing was possible. Read More @ https://www.reuters.com/article/us-usa-trade-china/trump-says-if-no-china-trade-deal-possible-i-am-a-tariff-man-idUSKBN1O31U0?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE USD SAYING?
USD pullback is over and now the re-start of the USD rally have once again started. Gaps are all being closed after Monday US-CHINA deal. Be cautious as Friday NFP data is expected to be good as the festive season starts.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADE.
- 8.30am – Australia will release their GDP data and is expected to be weak.
- 9.45am – China will release their CAIXIN services data and is expected to be weak.
- 4.15pm – 5.00pm – Spain, Italy, France, German and EURO – will release their Services PMI – market is expecting a mix data – more downside for the EURO awaits.
- 5.30pm – UK will release their important service PMI data – expect volatility.
- 6.00pm – EURO will release their Retails sales – little or no movement is expected.
- 11.00pm – CANADA (CAD) – will be extremely volatile as BOC – release their rate statement and rate decision. We maintain SELL for CAD.
The market continues to confuse the traders with US-CHINA trade war. Be cautious and maintain good money management at all times.
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