Markets in Details: 21 February 2019

21 February, 2019

News

  • Japan and South Korea both reported significant declines in shipments to China, thus providing evidence that the ongoing trade war can negatively impact other economies.
  • China placed the indefinite ban on imports of coal from Australia, thus sending the Australian dollar almost one percent down on Thursday morning. The ban is seen as retaliation against steps to curtail its 5G technology expansion; Australia followed the U.S. in banning Chinese company Huawei from its 5G network.

The focus of attention

  • Markets are starting to believe that the deadline of March 1 (for imposing new tariffs on Chinese imports) will be extended after President Trump’s recent remark that there was “no magical date” in the trade talks.

Expected events. All times GMT.

  • 0900 EU will release manufacturing and services PMIs.
  • 1200 Andy Haldane, BOE’s Chief Economist, will speak in Glasgow.
  • 1330 U.S. will release data on jobless claims.
  • 1445 U.S. will release manufacturing and services PMIs.

Technical Analysis

  • On Thursday, the AUD/USD pair dropped sharply to 0.7105 with no immediate counter-trend movement. The decline broke the short-term uptrend line, and the RSI broke the momentum support at 33%. Expect the pair to return to the EMA9 before it breaks it to reverse upwards or remains below it for a continuation of the trend.


Source link  
Markets in Details: 17 June 2019

Geopolitical tension remains the key matter to follow over the short term. At this stage, observers see a possibility of an all-out conflict...

Markets in Details: 24 April 2019

Crude prices moved higher for the second session yesterday after Washington decided not to renew sanction waivers for countries buying Iranian oil...

Markets in Details: 22 April 2019

Crude prices continue to rise on the anticipation that the U.S. will end oil sanctions waivers on Iran oil imports on Monday in a bid to increase...


Markets in Details: 18 April 2019

Today, markets are focused on PMIs in the U.S., eurozone and Germany, as well as retail sales in the UK and the U.S. Despite strong economic...

Markets in Details: 17 April 2019

Financial markets are expected to stay in the green today after the strong economic reports from China which suggests government efforts...

Are CBs going to facilitate next run?

Despite the fact that World Trade Organization has cut its forecast for trade growth, the S&P 500 is 1.1% away from all-time highs. Markets seem to be ignoring...


Markets in Details: 15 April 2019

The tussle between whether or not to hold a second public referendum in the UK continues as Jeremy Corbyn received threats, most recently...

Markets in Details: 01 April 2019

China's manufacturing PMI showed improvement on Monday - The Caixin Manufacturing PMI came in at 50.8 - creating the perception that the world...

Markets in Details: 21 March 2019

President Trump announced that tariffs on China would remain for the time it will take to make changes that the U.S. demands from the world...

  


Share it on:   or