The US government is approaching a federal shutdown after the Senate failed to agree on a new budget. It was unclear which way the vote would go as the midnight deadline approached, with Republicans and Democrats split on key issues. Despite last minute bipartisan meetings, the bill to fund the government until 16 February did not receive the required 60 votes. Read More @ http://www.bbc.com/news/world-us-canada-42749423
We are expecting the Gold to Gap Up on Monday @ https://finwaze.com/us-pursuing-number-1-oil-producer-china-focus-oil-gold/
Gold prices rose slightly on Friday as the U.S. dollar hovered near a three-year low on heightened fears of a U.S. government shutdown, but the precious metal was still on track for its first weekly drop in six weeks.
The U.S. dollar fell versus a basket of currencies as the U.S. Senate raced to avert a government shutdown on Friday ahead of a midnight deadline with no agreement on funding in sight. A weak dollar makes dollar-priced gold cheaper for non-U.S. investors. Spot gold was up 0.5 percent at $1,334.58 per ounce at 2:06 p.m. EST (1906 GMT), on track for a weekly drop of 0.3 percent, after falling from Monday’s four-month highs. Read More @
US AGENDA FOR CHINA – IS A DIVERSION OF PROTECTIONISM
President Donald Trump’s “America First” trade policy will be more focused in the coming year on countering China, after a first year tangling with allies ranging from North America to Europe and Asia, a White House economic official said Friday. “There’s a lot of consensus around the viewpoint that China does need to be the focal point, because China’s behaviors are causing significant problems for the U.S. economy and for the global trading system,” said the official, who has been designated by the White House to speak about coming trade enforcement decisions and negotiations. Read More – We sell the USDCNH – @ https://www.wsj.com/articles/china-to-be-focus-of-u-s-trade-policy-this-year-white-house-says-1516402881
EURO ELECTION THIS SUNDAY – SHAKERS AND MOVERS – WE BELIEVE THERE WILL BE AN AGREEMENT
“Rejection threatens to lead to either a minority government in Berlin or to new elections. Both are not good for the euro simply because they would create uncertainty,” he said via email. “More importantly, however, the GroKo (grand coalition) would probably be euro-positive because this constellation could represent the greatest degree of Germany’s support for the French president’s European initiative among all conceivable political constellations in Berlin.” We Buy EURUSD @ https://www.cnbc.com/2018/01/19/a-german-grand-coalition-relies-on-an-spd-vote-this-sunday.html
NEWS THAT WILL AFFECT YOUR TECHNICAL CHARTS ON MONDAY.
- Euro meetings (All Day) Particularly the formation of a government – we believe it will favor the EURUSD – We maintain buy for EUR PAIRS.
- 7.00pm – German will release the tuba monthly report which will create volatility for the EUR.
- 9.30pm – Canada will release the Wholesale Sales – We maintain SELL for USDCAD in favor for the CAD pairs.
USD INDEX TECHNICAL – STRONG BEARISH
- We will continue shorting the USD moving forward this week.
- Focus on EURUSD for a Buy.
- Focus on Gold for a Buy.
Be cautious at all times and at all times observe good money management.
High Risk Investment Warning:
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