Stocks Extend Falls on US-China Trade Worries
The stock market sell-off gathered pace when Wall Street opened for trading earlier. At the time of writing, the Dow was more than 600 points worse off, while the Nasdaq was 3% lower and S&P 500 about 2.5%. Sentiment has...
RBNZ Preview – Another Rate Cut is Needed to Boost Inflation and Support Employment
We expect RBNZ to cut the OCR, by -25 bps, to 1.25% in August. Given the disappointment in the inter-meeting data flow, the central bank would likely signal further easing later in the year. Meanwhile, the policy statement might focus...
US services growth slows to weakest level since 2016: ISM
Cement is laid on the San Joaquin River viaduct portion of the high-speed rail line being built in Fresno, California, on May 8, 2019, amid ongoing construction of the railway in California’s Central and San Joaquin Valleys. Frederic J. Brown...
JP225 Index Slumps to Oversold Area; Key Support Ahead
Japan’s 225 stock index has been unable to clear the heavy resistance around the 50% Fibonacci extension of the long donwleg from 24,472 to 19,239, with the price falling forcefully below its simple moving averages (SMA) and the Ichimoku cloud...
Risk Aversion Dominates Globally as Yuan Fall Drags Sentiments
Global markets are dragged down by the steep decline in the Chinese Yuan today. Major European indices are all in deep red today, following the selloffs in Asia. DOW future is currently down over -1.4% or -370 pts. Treasury yields...
EUR/AUD 4H Chart: Buy Signals
The common European currency versus the Australian reversed from the lower boundary of a dominant ascending channel pattern on July 23. The currency pair has appreciated about 3.15% in value during this time period. The exchange rate tested a resistance...
Morgan Stanley: If the trade war escalates, a recession will be here in 9 months
If the U.S. continues to raise a wall of tariffs on Chinese goods in the coming months and China responds, expect a global recession in three quarters, Morgan Stanley said Monday. “As we view the risk of further escalation as...
China reportedly halts US agricultural imports in retaliation for Trump’s tariff increase
China has halted imports of U.S. agricultural products, Bloomberg News reported, citing people familiar with the situation. This hits at a sensitive issue for President Donald Trump. The president claimed that he had secured large quantities of agricultural purchases when...
Risk Aversion Mounts Trade Tensions Show No Signs Of Abating
Notes/Observations Risk aversion fears continue to simmer due to escalation of the trade war; China said to ask companies to halt imports of US agriculture imports; CNY currency weakens; full-blown currency war could erupt as a consequence Major European PMI...
AUD/USD 0.6720 Expected
Pivot (invalidation): 0.6805 Our preference Short positions below 0.6805 with targets at 0.6750 & 0.6720 in extension. Alternative scenario Above 0.6805 look for further upside with 0.6820 & 0.6835 as targets. – advertisement – Comment A break below 0.6750 would...
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