Risk of no-deal Brexit rising, ‘everyone needs to prepare’: British foreign minister
With less than eight months until Britain quits the EU, the government has yet to agree a divorce deal with Brussels and has stepped up planning for the possibility of leaving the bloc without any formal agreement. Read @ https://www.reuters.com/article/us-britain-eu-hunt/risk-of-no-deal-brexit-rising-everyone-needs-to-prepare-british-foreign-minister-idUSKBN1KZ1D0
ECB Must Shield Italy, Others From Speculation, Borghi Says
The European Central Bank should keep providing a shield to the government securities of all monetary union members to avoid a dismantling of the entire euro system, a top lawmaker from Italy’s ruling coalition said. “There cannot be a system at the mercy of market movements” without any shields by the central bank, Claudio Borghi, the euroskeptic head of the budget committee in Italy’s lower house, said in an interview on Monday. “Nowadays there is a system that has a residual amount of quantitative easing, but with everybody knowing that this is being phased out and will come to an end soon.” Read @ https://www.bloombergquint.com/onweb/2018/08/14/ecb-must-shield-periphery-from-speculation-italy-s-borghi-says#gs.X5dztLM
Fed is no longer worried about every market hiccup, economist Lavorgna says
Perhaps lulled into a sense of complacency by a Federal Reserve that previously had seemed to attend to the market’s every hiccup, investors seem unprepared for a central bank that now thinks more hawkish medicine is in order, a veteran Fed watcher said Tuesday. “People don’t seem to realize the Fed does not have investors’ backs,” said Joe Lavorgna, chief economist for the Americas for French investment firm Natives. Lavorgna has spent 20 years following the Fed for Deutsche Bank Securities and other Wall Street firms after starting his career at the New York Fed. Read @ https://www.marketwatch.com/story/fed-is-no-longer-worried-about-every-market-hiccup-economist-lavorgna-says-2018-08-14?siteid=rss&rss=1
WHAT IS THE USD SAYING – DAILY AND WEEKLY CHARTS.
USD is gaining momentum each day and it looks like it is not going to stop going up. $97 focus now and it may eve go to $98-$100 by end of September. Be cautious if you are trying to sell the USD.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.
- 9.30am – Australia will release their Wage Increase index and is expected to be good.
- EURO goes for Holiday.
- 4.30pm – GBP will be volatile as UK releases CPI data – expected to be good.
- 8.30pm – US will release core retail sales, empire state manufacturing index and unit labor cost; all are expected to be good. We maintain Buy for USD.
- 10.00pm – US will release business Inventories – It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories; expected to be good.
- 10.30pm – US will release their OIL Inventories. Expected to be low and is good for OIL.
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.