Trade war looms over summit of global finance chiefs

Threats to the global economy that once felt remote are now becoming all too real. A trade war. Rising US interest rates. Uneven global growth. Ballooning corporate debt. Those are some of the biggest challenges facing global finance chiefs and central bankers as they arrive this week on the Indonesian island of Bali for an annual summit hosted by the International Monetary Fund and the World Bank. “Some of the perceived risks are bearing fruit now,” said Tom Bernes, a distinguished fellow at the Centre for International Governance Innovation. “We are heading into trouble.” Read More @ https://edition.cnn.com/2018/10/08/economy/imf-bali-world-bank/index.html

Asia’s next crisis: ready or not?

Since that report was published, turbulence, volatility and crises have dominated the economic landscape. Argentina is in crisis. Turkey is not far off. Markets have been rattled in Indonesia, Myanmar, Italy and Spain as financial conditions tighten. The fallout from Brexit is more uncertain than ever. Populist politicians continue their rise. The trade war between the United States and China has escalated at an alarming rate. The clock is ticking before the WTO dispute settlement appellate body shuts-down. China’s financial system remains precarious. The United States faces bitterly contested Congressional and Presidential elections with macroeconomic policies that are at odds with the direction of the economy. Geopolitical tensions remain high with Iran, North Korea and Russia. Read More @ http://www.eastasiaforum.org/2018/10/08/asias-next-crisis-ready-or-not/

Italy’s budget dilemma may complicate ECB’s attempt to wind down QE

With the European Central Bank on a path to normalization, investors have, perhaps, grown comfortable with the outlook for the euro as years of loose monetary policy are set to end in coming months. However, the future of the common currency may not be squarely in the hands of European policy makers’ due to an antiestablishment Italian government that appears bent on locking horns with the trading bloc, setting the stage for a challenging landscape for the ECB and potentially the euro. Read More @ https://www.marketwatch.com/story/italys-budget-dilemma-may-complicate-ecbs-attempt-to-wind-down-qe-2018-10-08?siteid=rss&rss=1

WHAT IS THE USD SAYING?

USD is in the stage of a pullback to Support @ $94 but the USD is still in demand for now as the US economy is firm and strong, however with cheaper yuan US might be in trouble in terms of export and import and make America great again. We are expecting a pullback today.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 1.00pm – Japan economy watchers sentiment data – expected to be good.
  2. 2.00pm – Germany will release their trade balance and is expected to be good. We buy EUR.
  3. 4.30pm – UK will release FPC Statement- It’s among the primary tools the FPC uses to communicate with investors about financial policy. It contains policy changes taken and commentary about the economic conditions that influenced their actions which can impact future MPC interest rate decisions – we will be cautious with GBP moving forward.
  4. 8.15pm – Canada will release Housing Starts – It’s a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder – we maintain BUY for CAD.

The market will remain cautious as Asia, Turkey, Italy are all in rough waters for a major fallout. Be conservative and have 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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