Economy Hits a High Note, and Trump Takes a Bow
Tax cuts and federal spending are adding fuel to the already strong economy, putting the United States on a pace for its best year of growth in well over a decade. The Commerce Department reported Friday that gross domestic product, the broadest measure of goods and services produced in the economy, grew at a 4.1 percent rate in the second quarter of the year. Consumers led the way, shrugging off higher gasoline prices and sluggish wage growth to step up their spending on everything from cars to clothes to restaurant meals. Read More @ https://www.nytimes.com/2018/07/27/business/economy/economy-gdp.html
Economy, dollar, trade key to U.S. stocks’ global edge
The ability of the U.S. stock market to keep an edge this year over equities elsewhere in the world hinges on the United States maintaining its economic and earnings growth advantage, the strength of the dollar and how global trade tensions resolve, investors said. Read More @ https://www.reuters.com/article/us-usa-stocks-weekahead/economy-dollar-trade-key-to-u-s-stocks-global-edge-idUSKBN1KH298?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
El-Erian: The probability of a Fed rate hike in September is well below what traders expect
- The CME FedWatch tool puts the chances of a rate increase in September at 91.4 percent.
- Economist Mohamed El-Erian says the probability is above 50 percent. Read More @ https://www.cnbc.com/2018/07/27/el-erian-skeptical-fed-will-hike-in-september-despite-92percent-probability.html
WHAT IS THE USD CHART SAYING?
The USD will go under pressure this week with the other major pairs and commodities; rangebound breaks the USD can go either way. Be patient for the break. More on the MAJOR PAIRS, OIL & GOLD @ https://www.finwaze.com/30th-july-3rd-august-major-pairs-oild-oil-usd-pressure/
MONDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL CHARTS
- 7.50am – Japan will release their Retails sales and is expected to be good. We buy JPY.
- ALL DAY – Be cautious as Germany will release their CPI data and it will create volatility.
- 4.30pm – Mortgage Approvals – Critical Leading Indicator – expected volatility for GBP.
- 10.00pm – Pending Home Sales – Economic Leading Indicator – No change or weak.
The market will be very cautious on Monday as it awaits majors news from Wednesday till Friday. Traders please be cautious and ensure you have good money management at all times.
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.