Mnuchin calls big US banks after huge stock market falls
US Treasury Secretary Steven Mnuchin has made calls to the heads of the country’s six largest banks, a move to reassure investors after huge falls in US stocks. Last week, US stocks suffered one of the worst weekly falls in a decade as an interest rate rise and US-China trade tensions rattled markets. Mr Mnuchin said banks confirmed they had “ample liquidity” for operations. It also comes amid a partial government shutdown over spending plans. “The [bank’s chief executives] confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations,” the Treasury said in a statement attached to a tweet from Mr Mnuchin. Read More @ https://www.bbc.com/news/business-46669300
TECHNICAL CHARTS SAYS…
U.S. Wrangling to Destroy Christmas Calm Across Emerging Markets
If emerging markets had their way, this Christmas week would be like any other: quiet, with just a handful of economic releases and low trading volumes. But political dramas playing out in the U.S. are keeping investors on tenterhooks. The U.S. government shutdown over President Donald Trump’s demand for border-wall funding is likely to last past Christmas. And even though Treasury Secretary Steven Mnuchin tried to reassure financial markets that Federal Reserve Chairman Jerome Powell wouldn’t be ousted, investors are nervous. Last week, the S&P 500 Index suffered its biggest weekly loss since 2011. Read more @ https://www.bloomberg.com//news/articles/2018-12-23/u-s-wrangling-to-destroy-christmas-calm-across-emerging-markets?srnd=markets-vp
We stick to USD for now – any pullback we buy….unless critical support and resistance breaks. Always put money management as your number 1 Priority.
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