Brexit turmoil: 4 things investors need to know
British Prime Minister Theresa May fought for her political survival Monday after a pair of high-profile resignations made it more likely she will face a leadership challenge and raised questions about the durability of her minority government. Here’s a look at the turmoil and what it means for the Brexit process and the British pound.
Monday’s resignation of Foreign Secretary Boris Johnson followed the departure Sunday of David Davis, the minister in charge of the U.K.’s negotiations with its European Union partners over the terms of its exit from the trading bloc. Read More @ https://www.marketwatch.com/story/brexit-turmoil-4-things-investors-need-to-know-2018-07-09
WHAT IS THE USD INDEX SAYING?
USD rebounded after hitting the support as discussed yesterday; this week will be an interesting move of the USD. USD GDP data and other leading indicators will be released this week. We are expecting massive volatility and great time to trade. Just watch your money management at all times.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 9.30am – China will release CPI – expect volatility – USDCNH, AUD, CAD and NZD pairs. We buy CNY.
- 2.00pm – Prelim achine tool orders – expect volatility – We buy JPY.
- 2.45-4.00PM – France and Italy will release their industrial production – we are expecting good data – little or no movement.
- 4.30pm – Traders will be watching this data – expect massive volatility. We stay neutral due to BREXIT issues ahead.
- 5.00pm – German ZEW & EURO economic sentiment – market expecting a bad data – we continue buying EURO.
- 10.00PM – US will release JOLTS data – It’s released late, but can impact the market because job openings are a leading indicator of overall employment.
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.