World stocks finish higher on China trade-deal hopes; dollar rises
Stocks on Wall Street logged modest gains on Tuesday as traders remained hopeful that the United States and China can work toward resolving their trade-related differences at the upcoming G20 Summit.
Oil prices remained weak, while the U.S. dollar, which has benefited from safe-haven flows this year amid increased uncertainty over global trade, rose against its peers. White House economic adviser Larry Kudlow said on Tuesday that U.S. President Donald Trump will have a dinner meeting with Chinese President Xi Jinping at the upcoming G20 gathering in Argentina and held open the possibility that the two countries would reach a trade deal. Read More @ https://www.reuters.com/article/us-global-markets/world-stocks-finish-higher-on-china-trade-deal-hopes-dollar-rises-idUSKCN1NV2PW?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE TECHNICAL CHART SAYING?
USD is heading for double after USD maintains it safe haven status; 98 – 100 price level is possible moving forward for the USD.
TODAY’S NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 8.30am – Australia will release their construction work done – expected to be good.
- Tentative – BOE will release their economic expectation – It’s an assessment of conditions in the financial system and potential risks to financial stability – the evidence on strains and imbalances can provide insight into the future of monetary policy and also the Bank stress test – volatility expected.
- 8.00pm – Germany will release their Consumer climate – expected to be no change.
- 9.30pm – US will release their GDP data – volatility expected. USD will continue to strengthen as the market is expecting a good data.
- 11.30pm – Crude Oil inventories – oil will continue to move south with high inventory.
The market continues to BUY USD and with the upcoming Rate Hike expectation by the FED will continue to push the USD higher.
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