Canada and 5 other nations pull trigger on world’s biggest trade deal — leaving America out in the cold
The world’s most radical trade pact has come into force across the Pacific as the U.S. sulks on the sidelines, marking a stunning erosion in American strategic leadership. Eleven countries are pressing ahead with the Comprehensive Agreement for Trans-Pacific Partnership (CPTPP), defying barely-disguised efforts by the Trump administration to kill the treaty. Read more @ LOOKS LIKE CNY TAKES THE LEAD….. https://business.financialpost.com/news/economy/cptpp-pacific-trade-deal
EXPECT MORE SWINGS THIS WEEK BEFORE THE NFP WHICH IS EXPECTED TO BE GOOD. Traders will wait till NFP and also the market reaction when the market opens in 2019.
WEDNESDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- Australia and Japan will be holiday and the market will start with China caixin data.
- 9.45am – China will release their Caixin Manufacturing PMI – It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy. Expected to be weak.
- 1.30pm – Australia will release their Commodity Prices – It’s a leading indicator of the nation’s trade balance with other countries because rising commodity prices boost export income.
- 4.15pm – 5.00pm – Spain, Italy, France and Euro will release their Manufacturing PMI – Expected to be little or no change – EURO will remain speculative for now.
- 5.30pm – UK will release their Manufacturing PMI – expected to be weak.
- 10.30pm – Canada will release their manufacturing PMI – expected no change or weak.
- 10.45pm – US will release their manufacturing data – expected to be good. We stay neutral for USD.
When the market opens tomorrow we will remain sideline till the market takes its pace. Always ensure good money management all the time.
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.