Treasury Secretary Steve Mnuchin says market plunge on Fed rate hike ‘is completely overblown’

Shutdown threat adds to Wall Street woe

Wall Street shares closed at their lowest levels in roughly 14 months on Thursday, as the threat of a government shutdown added to wider investor angst. Losses accelerated around midday, as Republicans said President Donald Trump would not sign the current bill to fund the government. Shares rebounded a bit but fell again as Mr Trump spoke about his decision. The blue-chip Dow Jones index sank 2%, while the S&P 500 and the tech-heavy Nasdaq ended about 1.6% lower. Read More @ https://www.bbc.com/news/business-46639301

WHAT IS THE USD SAYING?

USD is at critical support of a major trendline; government shutdown threatens the USD. We believe the market will continue to swing till end of the year.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES

  1. 5.30pm – UK will release their current account, GDP and Public Borrowings – expected to be mixed – volatility expected.
  2. 9.30pm – CANADA will go to action once again with retail sales and GDP data – expected to be no change or weak – we continue sell CAD.
  3. 9.30pm – US will release their GDP and core durable goods order – expected no change.
  4. 11.00pm – USD will release personal spending  and consumer confidence – both are expected to be good. We maintain BUY for USD.

The market still pushing USD as a safe haven for now; always keep money management as your number 1 priority as the festive season approaches,

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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