How the Fed’s removal of two words set off a firestorm of confusion

Since the fall of 2016, the Fed statement had said: “near-term risks to the outlook appear roughly balanced.” In the new statement, released on Wednesday, the Fed simply said “risks to the outlook appear roughly balanced.”

“The shift might be read as indicating a desire to focus on the medium term outlook rather than short term noise; it could simply have been an effort to evade controversy,” he said. Read More @ https://www.marketwatch.com/story/how-the-feds-removal-of-two-words-set-off-a-firestorm-of-confusion-2018-05-03?siteid=rss&rss=1

China is firing on all cylinders as it ramps up its trade war with the US

  • In March and April, China imposed tariffs on US soybeans in response to President Donald Trump’s tariffs on $50 billion worth of Chinese goods.
  • Soybeans are an important US agricultural export, and a majority of those exports go to China.
  • Soren Schroder, CEO of oilseed processor Bunge, told Bloomberg that China is “very deliberately not buying anything from the US.”
  • The drop off in Chinese purchases of US soybeans is worrying for US farmers.

It shows the trade war between the US and China is heating up. read more @ http://www.businessinsider.com/china-soybean-imports-from-us-trade-war-trump-tariffs-2018-5

WHAT IS THE USD INDEX SAYING?

USD SHY OFF $93.60 OR HIGHER; the NFP data will get the USD to new direction – either $93/higher or $$91.50. We are expecting the data to be neutral – there will be volatility but it will be in favor for the USD for now – We will trade after the news and SELL USD.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 9.45am – China will release CAIXIN services PMI and we are expecting the data to be good. We maintain SELL USDCNH.
  2. 2.45 – 3.55pm – Spain, Italy, Germany will release their Services PMI and we are expecting the data to be good. We move to BUY EURO today.
  3. 4.00pm – EURO will release their Final Services PMI and we are expecting the data to be good.
  4. 5.00pm – EURO will release retail sales m/m which is expected to be good.
  5. 8.30pm – NFP – Average Hourly Earnings which we are expecting it to be weak; and NFP to be moderate and less then 150k employment.  We trade only after the NFP is released.
  6. 9.00pm – German President Weismann speaks and is expected to be hawkish. We maintain BUY for EURO.

Be cautious today as the market will remain confused. Maintain good money Management.

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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