Asian Stocks Set to Slip as Trade War Doubts Firm: Markets Wrap
Asian stocks are set to follow U.S. futures lower as Chinese and American officials struggle to schedule a planned meeting this month to continue trade talks. The pound slumped with the U.K. facing a showdown in Parliament over delaying Brexit again. Futures slipped in Tokyo, Sydney and Hong Kong. U.S. contracts declined in Asia after Bloomberg reported the difficulties the two countries were having in arranging the talks, following Washington’s rejection of Beijing’s request to delay tariffs that took effect over the weekend. Cash markets for both U.S. stocks and bonds were closed for the Labor Day holiday. Ten-year Treasury futures erased a decline while the dollar strengthened for the sixth consecutive day to its highest in more than two years. https://www.bloomberg.com//news/articles/2019-09-02/asian-stocks-set-to-slip-as-trade-war-doubts-firm-markets-wrap?srnd=markets-vp
- Price is still below Ichi Moku; we cautiously buy with peso averaging
- Trend Line is still in-tact; so is still good to buy
- Inverted Head & Shoulder bullish Pattern is forming
- We believe the Index will go to 8500 if it crosses the Ichi Moku
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