Fed’s Bostic favors one more interest-rate hike in 2018
Atlanta Fed President Raphael Bostic said Friday he favors one more interest-rate hike this year, given current economic conditions. “I favor one more move as things currently stand,” Bostic said during a talk at the Northern Chapter Virginia Society of Certified Public Accountants in Falls Church, Va. The Fed has raised interest rates twice this year, to a range of 1.75% -2% and a slim majority on the central bank favors two more moves in 2018. Read More @ https://www.marketwatch.com/story/feds-bostic-favors-one-more-interest-rate-hike-in-2018-2018-07-13?mod=mw_share_twitter
Don’t mention the trade war: what China doesn’t want people to know in its dispute with the US
‘You can’t use trade war in your headline’, one media source says, as censors seek to control the way the dispute is reported –
Four separate sources working for Chinese media, who were briefed on these internal instructions, told the South China Morning Post that they were told not to “over-report” the trade war with US and be extremely careful about linking the trade war to stock market falls, the depreciation of the yuan or economic weakness to avoid spreading panic.
“When you report a fall in the stock market index or a weakening in the yuan’s exchange rate, you can’t use ‘trade war’ in your headline,” one source with an official Chinese media outlet, who declined to be named, said. Read more @ https://www.scmp.com/news/china/economy/article/2155264/dont-mention-trade-war-what-china-doesnt-want-people-know-its
Trump vows ‘great’ trade deal with UK, abruptly changing tack on May’s Brexit plan
President Donald Trump said on Friday the United States and Britain could secure a “great” post-Brexit trade deal, lavishing praise on Prime Minister Theresa May and contradicting his own withering assessment of her strategy publicized hours earlier. Read More @ https://www.reuters.com/article/us-usa-trump-britain/trump-vows-great-trade-deal-with-uk-abruptly-changing-tack-on-mays-brexit-plan-idUSKBN1K30MN
WHAT IS THE USD INDEX SAYING?
USD now facing the critical resistance; this week will be interesting to see if the USD retreats or breaks the resistance.
MONDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 10.00am – China important GDP data – market is expected to have a huge volatility.
- 4.00pm – Italy will release their Trade Balance – expected to be good.
- 5.00pm – EURO will release their Trade Balance – expected to be good. We Buy EURO.
- 8.30pm – US will release their – Core retail sales and empire manufacturing index – both are expected to slowdown or no change. We stay neutral for the USD.
- 10.00pm – US Business inventory – volatility is expected – It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories.
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.