Japan’s Nikkei share average dropped to a 3-1/2-week low on Tuesday, led by weakness in Apple suppliers, while mining shares underperformed on lower oil prices. The Nikkei fell 0.7 percent to 23,455.98 points by midmorning, sliding below its 25-day moving average of 23,506.36. Earlier, the index dropped to as low as 23,427.29, the lowest level since Jan. 4. Apple Inc suppliers lost ground after the iPhone maker’s shares fell 2.1 percent on news that the company will halve production of its $999 iPhone X smartphone. Read More @ https://www.reuters.com/article/japan-stocks-midday/nikkei-drops-to-3-1-2-week-low-as-weakness-in-apple-suppliers-weighs-idUSL4N1PP1IG
CURRENCY WAR – JPY WILL MOVE TO SAFE HAVEN ONCE AGAIN
Who wants a strong currency these days? Apparently nobody does. Having a strong currency appears out of favour, judging by the latest spat between global policymakers. Once it used to be a talisman for national economic success, but these days having a weaker currency seems the favoured tool for forging stronger growth and gaining an edge over trade rivals. Trouble is, if everyone joins in, it becomes a no-win, zero-sum game. Read More @ http://www.scmp.com/business/companies/article/2130983/were-back-currency-wars-and-heres-why-bad-markets
TECHNICAL CHART – FUTURES
The beginning of rally has just started: heading for $93 this week.
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