China’s premier just ruled out currency manipulation as a trade war tactic

    • Chinese Premier Li Keqiang said authorities won’t intentionally lower the renminbi in response to US sanctions.
    • China’s currency has already fallen by around 9% against the USD since April this year.
    • Speaking at a World Economic Forum event in Tianjin, Li also said the trend of globalization can’t be stopped.

Chinese premier Li Keqiang has trumpeted the benefits of global trade, in a speech at the World Economic Forum today in Tianjin, China. And as trade tensions with the US heat up, Li said Chinese policy makers have plenty of tools at their disposal to offset any negative effects from US tariffs. Read More @ https://www.businessinsider.com.au/chinas-premier-just-ruled-out-currency-manipulation-as-a-trade-war-tactic-2018-9

Bank of Japan vows to keep rates very low for an ‘extended period’

TOKYO — The Bank of Japan reiterated Wednesday that it would keep interest rates extremely low “for an extended period,” holding to forward guidance it first introduced in July. The BOJ decided to stand pat on policy after making a number of tweaks in July to prepare for a longer-than-expected fight to lift inflation. The board voted 7-2 to maintain shorter-term interest rates at minus 0.1% and keep the target for the 10-year Japanese government bond yield at around zero. It repeated a promise introduced in July to allow the bond yield to move in a more flexible manner, with the goal of reviving the moribund government bond market. Gov. Haruhiko Kuroda has said the bank would tolerate a rise in the yield to about 0.2% after previously setting an informal cap of about 0.1%. Read More @ https://www.marketwatch.com/story/bank-of-japan-vows-to-keep-rates-very-low-for-an-extended-period-2018-09-18?mod=newsviewer_click

Brexit will have ‘worse economic impact on UK than EU’

Brexit will have a bigger economic impact on the UK than the European Union, the former head of the European Central Bank has told BBC Radio 5 Live. Jean-Claude Trichet added the break-up was “totally contrary to the new world” of large emerging economies, with single currencies and single markets. Asked how Brexit would affect the other EU countries, he said: “It’s very much a question of proportion.” The EU’s economy is worth about £13tn, compared to the UK’s £2tn. Speaking to the Wake up to Money programme, he said: “If I take the EU as a whole and compare the GDP of the EU to the GDP of the UK, you see there’s a small portion which is the UK.” He added: “It’s normal that the European 27 are less impacted themselves than the UK by this event which has been entirely decided upon by the UK – when all the 27 wanted the UK to stay.” Read More @ https://www.bbc.com/news/business-45581056

WHAT IS THE USD INDEX SAYING?

USD is still staring at the south and it will break anytime soon, however the next week THURSDAY FOMC may change everything moving forward. Be cautious if you are trying to short the USD.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 3.30pm – SNB never surprise the world when it comes to monetary policies; be cautious.
  2. 4.30pm – UK will release their retails sales – volatility expected.
  3. 8.30pm – Canada will release their employment and is expected to be good. We buy CAD.
  4. 8.30pm – US will release their Unemployment & Philly mfg Index – both are expected to be no change.
  5. 10.00pm – EURO will release their consumer confidence – volatility expected.
  6. 10.00pm – US will release their home sales and is a leading indicator for the FED. Volatility expected.
  7. 11.15pm = Germany President Weidmann will speak and EURO volatility is expected – We buy EURO.

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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