What people get wrong about the market’s favorite recession signal, according to a Wall Street strategist

David Kelly, Chief Global Strategist of JPMorgan Asset Management, expects the yield curve to be almost completely flat a year from now. But he says not to worry if it ends up inverted. Kelly calls the inverted yield curve a broken barometer that can no longer be trusted to predict economic trouble. He goes on to explain how an inverted yield curve can create income for consumers. Following is a transcript of the video. Read More @ https://www.businessinsider.com/inverted-yield-curve-is-a-broken-barometer-and-can-be-positive-2018-7

Mexico touts progress in NAFTA talks with U.S., but toughest issues remain

Ildefonso Guajardo said after leaving a meeting with U.S. Trade Representative Robert Lighthizer that the group had yet to discuss issues such as the “sunset clause,” a provision sought by the United States under which the agreement would have to be renegotiated every five years. But he was upbeat about the group’s progress. “There are a lot of things, at least 20 items, that have been worked through, and there is very good advancement in all of them,” he said. Read more @ https://www.reuters.com/article/us-trade-nafta/mexico-touts-progress-in-nafta-talks-with-u-s-but-toughest-issues-remain-idUSKBN1KN2MZ?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

Nigeria has taken its first steps in adopting China’s yuan as a reserve currency – will others follow and destroy USD?

Nigeria has become the latest African country to step up its bid to adopt Chinese yuan as a reserve currency. Two months after agreeing a three-year $2.5 billion currency swap with China to boost its reserves and aid trade between both countries, Nigeria has begun selling Chinese yuan to local traders and businesses. An underlying motive of the move is to ease the long-running pressure on Nigeria’s naira currency after a slide against the US dollar since 2015. Following the drop in global oil prices in 2015, Nigeria’s faced a major dollar shortage as foreign reserves dwindled. International businesses including airlines were forced to shut downor cut down on flights to the country as the government set up controls to restrict access to dollars. Read More @ https://qz.com/africa/1346766/chinas-yuan-trades-in-nigeria-africa-top-economy/

WHAT IS THE USD CHART SAYING?

USD prepares for tonight? will the USD final break the resistance and rise to new levels? NFP will decide today? We believe that the USD have more upside then down side. Gold breaks the support also shows the dominating factor of the USD.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 4.30pm – UK will release their Service PMI which is a leading indicator for BOE – expect a good data.
  2. 5.00pm – EURO will release retail sales and trade balance – both of which is expected to be little or no change.
  3. 8.30pm – Canada will release their Trade Balance and is expected to be good.
  4. 8.30pm – NFP is going to be interesting and the market is expected lower then last month employment but the hourly earnings to be higher then the previous months – USD is expected to be good.
  5. 10.00pm – ISM Non-Mfg – is expected to be good.

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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