” Trade-related headlines will continue to drive market sentiment in the week ahead, as investors watch further developments in the ongoing trade spat between the U.S. and its major trading partners.
Trade-war fears have been simmering for months, with investors jittery over the prospects of further escalation in tensions having an impact on the global economy.
Besides trade rhetoric, the monthly U.S. jobs report, which is expected to remain in territory consistent with a strengthening labor market, will be the highlight of the holiday-shortened week.
U.S. markets will remain closed on Monday for the Labor Day holiday.
Meanwhile, market participants will also be looking ahead to monthly trade figures out of China to see if the ongoing conflict with the U.S. had any impact on exports and imports in August. ”
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” U.S. economic growth was a bit stronger than initially thought in the second quarter, notching its best performance in nearly four years and putting the economy on track to hit the Trump administration’s goal of 3 percent annual growth.
Gross domestic product increased at a 4.2 percent annualized rate, the Commerce Department said on Wednesday in its second estimate of GDP growth for the April-June quarter. That was slightly up from the 4.1 percent pace of expansion reported in July and was the fastest rate since the third quarter of 2014.
The economy grew at a 2.2 percent pace in the January-March period. The slight upward revision to growth last quarter reflected more business spending on software than previously estimated and less imported petroleum.
Stronger software investment and a smaller import bill offset a downward revision to consumer spending. President Donald Trump, whose administration has vowed to boost annual economic growth to 3 percent on a sustainable basis, cheered the revised second-quarter data.
“Our country is doing great!” Trump tweeted. ” […]
” Making America great again isn’t proving so great for other parts of the world.
With the rise in the dollar and interest rates already squeezing emerging economies just as President Donald Trump’s trade war threatens China, the U.S. is set to be the only Group of Seven nation to see economic growth accelerate this year as Trump’s tax cuts kick in.
The end of the short-lived euphoria of a synchronized global upswing is already evident in financial markets. NatWest Markets notes its basket of so-called growth assets such as the Australian dollar and is down about 4.5 percent this year compared with the almost 7 percent gain of the Standard & Poor’s 500 Index.
The gap in performance “certainly captures the imbalanced nature of growth this year,” said Jim McCormick (NYSE:), head of cross-asset strategy at NatWest.
The global backdrop will frame discussions when the Federal Reserve holds its annual policy symposium this week in Jackson Hole, Wyoming, at which Chairman Jerome Powell will speak. The Fed’s two interest-rate hikes of 2018 have helped lift the dollar almost 6 percent on a trade-weighted basis this year, making it costlier for international borrowers to repay loans. ”
“A currency swap agreement between the Turkish and Qatari central banks will have an overall limit of $3 billion, the Turkish central bank said in a statement on Monday.
The two central banks signed the deal on Friday to provide liquidity and support for financial stability, days after Turkey’s Gulf ally pledged $15 billion in support.”
” The U.S. dollar pushed higher against a currency basket on Monday, buoyed by expectations for trade talks that investors hope will ease tensions between the U.S. and China.
The , which measures the greenback’s strength against a basket of six major currencies, edged up 0.1% to 96.11 by 03:41 AM ET (07:41 AM GMT) after falling 0.5% on Friday, the largest one day decline in almost a month.
Mounting tensions between the U.S. and its trading partners, along with a propelled the dollar to 14-month highs late last week. ”
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” Turkey’s currency crisis poses an additional risk to Germany’s economy on top of trade frictions with the United States and the possibility of Britain leaving the European Union without a deal, the German finance ministry said on Monday.
The Turkish lira has lost nearly 40 percent of its value against the dollar this year, hit by a worsening diplomatic rift with the United States and by investor alarm about President Tayyip Erdogan’s influence over monetary policy. ”
” The dollar slipped lower on Tuesday giving back some of the previous sessions gains, while the pound regained ground after falling to eleven-month lows amid worries over the growing prospect of a no-deal Brexit.
The , which measures the greenback’s strength against a basket of six major currencies, was down 0.17% to 95.03 by 03:29 AM ET (07:29 AM GMT), after edging up close to a one-year high of Monday.
Demand for the dollar continued to be underpinned by expectations for a faster pace of interest rates hikes from the Federal Reserve this year.
was up 0.15% to 1.2962 after falling as low as 1.2919 on Monday, pressured lower by fears that Britain is on course to with no deal.”
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The Australian Employment Change can be the first market mover of this day, but not the most important. Investors will wait for the European Central Bank’s Interest Rate Decision and the Press Conference after it. The important US Sales news will be published when the ECB Press Conference will start, so I don’t think that we have to check these news. 99% that these datas will not move the market, the speech will do it. The EUR’s movement will push or pull the other currencies to a random direction.
PAIRS TO CHECK
I have 2 AUD pairs to check. This is the easiest one, because if it confirms, it will probably reach profit without any problem.
The 2nd one, the EURAUD is not that easy. If it won’t be closed before the ECB decision, it will probably go to the other direction (my bet is a positive EUR after the decision and the press conference).
So be carefull and check the new trades on HundredToMillion.com.
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Another JPY pair confirmed. Come back to see the updates! 🏆🏆🏆 AUDJPY TRADE CLOSED @ 83.671 💰💰💰 20 PIPS EARNED 🤑🤑🤑😂😂😂
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We closed a nice day on Tuesday too. The $144 profit is very nice for a day. The EA closed nice profit with new trades, but the old AUDUSD line still didn’t solved. Maybe today… The Equity is very safe, safer than in the trading weeks. I don’t have to write too much about the […]
AND FINALLY CHECK THE RESULTS OF THE RUNNING FOREX PROJECTS OF DAILYPROFIT4LIFE!
“The dollar and the euro were little changed in rangebound trade on Wednesday as traders awaited a Federal Reserve policy announcement later in the day and looked ahead to Thursday’s European Central Bank meeting.
The , which measures the greenback’s strength against a basket of six major currencies, was trading at 93.88 by 03:46 AM ET (07:46 AM GMT), little changed for the day after rising 0.29%.
The Fed is widely expected to for the second time this year at the conclusion of its policy setting meeting later in the day. ”
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