What Trump’s tirade against ‘loco’ Fed means for the markets
President Donald Trump’s branding of the Federal Reserve’s policy actions as “crazy” and “loco” following Wednesday’s steep stock-market selloff seemed both shocking and inevitable. The question for investors is whether it will make any difference at the Fed. So far, analysts seem to doubt the remarks, the latest and strongest in a series of criticisms of the central bank’s gradual tightening of monetary policy, will have much impact. Read more @ https://www.marketwatch.com/story/what-trumps-tirade-against-loco-fed-means-for-the-markets-2018-10-11?siteid=rss&rss=1
IMF chief defends Powell after Trump slams ‘crazy’ Fed
The head of the International Monetary Fund on Thursday defended Federal Reserve Chairman Jerome Powell one day after U.S. President Donald Trump criticized the American central bank, which has been raising U.S. interest rates, as “crazy.” Read More @ https://www.reuters.com/article/us-usa-trump-imf-fed/imf-chief-defends-powell-after-trump-slams-crazy-fed-idUSKCN1ML196?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Europe stocks slump to their lowest level in 20 months as Wall Street sell-off grips global markets
- Equity markets have tumbled on the back of heightened fears over an expected slowdown in global economic growth and rising interest rates.
- President Donald Trump called the U.S. Federal Reserve “crazy” for its insistence on continually hiking rates.
- The European Union’s Michel Barnier said a Brexit agreement was achievable as soon as next week. Read More @ https://www.cnbc.com/2018/10/11/european-stocks-set-to-open-sharply-lower-amid-market-sell-off.html
WHAT IS THE USD SAYING?
USD has finally break the bears H&S Neckline; we are expecting more fall for the USD against major pairs; be cautious the swings will still continue with G20 meetings and Market meltdown have started with most central banks are tightening their borrowing cost. IMF meeting is also going on con-currently.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES
- Tentative – China will release their trade balance and is expected to be weak; be cautious for AUD & NZD PAIRS.
- 12.30pm – Japan will release their Tertiary Industry report – It’s a leading indicator of economic health – businesses are quickly affected by market conditions, and changes in their spending can be an early signal of future economic activity such as hiring, earnings, and investment;
- 2.00pm – Germany will release their FINAL CPI and is expected to be no change; be ready for good volatility.
- 10.00pm – US will release Prelim – Consumer sentiment and Inflation Expectations – expected to be good. Market is expect to go under pressure. We have moved from Buying USD to SELL now.
The market will continue to swing till the G20 & IMF meetings are over this weekend. Be cautious and be always money management conscious.
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