GMTAuthor: Greg Michalowski

US/China trade being digested

The pre-market trading was a bit volatile as the US/China headlines crossed, but stocks are now open and the Nasdaq is recovering. The S&P and Dow are also higher.

  • S&P is up 8.7 points or 0.30% at 2897.51
  • NASDAQ is up 41 points or 0.53% at 7937.5
  • Dale is up 75 points or 0.28% at 26134

ForexLive

View More

View Full Article with Comments

Tue 18 Sep 2018 13:32:04 GMT

GBPUSD keeps the 100 day MA as a ceiling

View More

GBPUSD keeps the 100 day MA as a ceiling


//az705044.vo.msecnd.net/20180918/2018-09-18_6-28-18.jpg Greg Michalowski
Tue 18 Sep 2018 13:32:04 GMT
0


The price did take a peak above the MA line earlier in the day but backed off The GBPUSD has been pushing the 100 day MA and a topside trend line since yesterday. The trend line was lightly broken yesterday and backed off.  Today the 100 day MA was lightly broken and backed off again.  The 100 day MA is at 1.13655. The trend line is at 1.31753 currently.  The low today reached 1.31183.  

Asset 24 View More
Trade ideas thread - European session 17 September 2018
Asset 41
Tue 18 Sep 2018 13:02:27 GMT

6

China says new tariffs on US goods will be effective at 1201 local hours on September 24

View More

China says new tariffs on US goods will be effective at 1201 local hours on September 24


Greg Michalowski
Tue 18 Sep 2018 13:02:27 GMT
Category: News
6
In sync with the US enactment The US dollar has slipped to fresh seven-week lows as the recent headlines cross trader's screens.  The EURUSD has moved to a new session high.  The high just reached 1.17239.

Asset 24 View More
Tue 18 Sep 2018 12:54:40 GMT

4

Trump tweeting about China. Says US farmers are loyal and won't be swayed.

View More

Trump tweeting about China. Says US farmers are loyal and won't be swayed.


//az705044.vo.msecnd.net/20180918/2018-09-18_5-52-18.jpg Greg Michalowski
Tue 18 Sep 2018 12:54:40 GMT
Category: News
4
Says China trying to influence election. He will retaliate if there is a China retaliation against farmers/industrial workers. ForexLive

Asset 24 View More
Tue 18 Sep 2018 12:51:59 GMT

3

EU traders now pricing in 10 BP rise in rates in October 2019

View More

EU traders now pricing in 10 BP rise in rates in October 2019


//az705044.vo.msecnd.net/20180918/2018-09-18_5-50-50.jpg Greg Michalowski
Tue 18 Sep 2018 12:51:59 GMT
3
Up from 85% last week The Euro zone money market traders are now fully pricing in a 10 point rise in rates in October 2019. That is up from 85% last week. The EURUSD has traded above and below its 100 day moving average the prior 3 trading days.  Today, the price has been able to stay above that MA in the London session .  The MA comes in at 1.1668.  In the Asian session there was a brief dip below the line (the low reached 1.16658) which was quickly reversed.  

Asset 24 View More
Tue 18 Sep 2018 12:44:51 GMT

Freeland and Lighthizer to meet on NAFTA on Wednesday

View More

Freeland and Lighthizer to meet on NAFTA on Wednesday


Greg Michalowski
Tue 18 Sep 2018 12:44:51 GMT
Category: News
0
Meetings to resume on Wednesday in Washington DC The meetings inch along.  Freeland said yesterday that she met with dairy representatives on Friday. The Canadian tariffs on US dairy products are a major sticking point still to be resolved.  Canada PM Trudeau said yesterday that he is sticking with the Canadian farmers. 

Asset 24 View More
Tue 18 Sep 2018 12:43:50 GMT

Apple CEO Cook is optimistic on US/China trade

View More

Apple CEO Cook is optimistic on US/China trade


//az705044.vo.msecnd.net/20180918/2018-09-18_6-12-02.jpg Greg Michalowski
Tue 18 Sep 2018 12:43:50 GMT
Category: News
0
Apple products has avoided tariffs on products so far The Apple CEO Tim Cook has an optimistic feeling about the US/China trade war.   Of course his products were exempt from the list of products targeted for tariffs along with bluetooth gadgets, some raw materials for making chemicals, and health and safety products like bicycle helmets and child safety furniture, like high chairs.

Asset 24 View More
Tue 18 Sep 2018 12:30:07 GMT

Canada Manufacturing sales for July 0.9% vs. 0.6% est.

View More

Canada Manufacturing sales for July 0.9% vs. 0.6% est.


//az705044.vo.msecnd.net/20180918/2018-09-18_5-34-49.jpg Greg Michalowski
Tue 18 Sep 2018 12:30:07 GMT
Category: News
0
The highlights of the July Canada manufacturing sales -  was +1.1% revised up to 1.3% - manufacturing sales ex-autos +0.7% versus June +1.1% (revised from +0.9%)

Asset 24 View More
Tue 18 Sep 2018 12:27:57 GMT

3

China has filed a complaint to WTO on US tariffs

View More

China has filed a complaint to WTO on US tariffs


Greg Michalowski
Tue 18 Sep 2018 12:27:57 GMT
Category: News
3
Not that unexpected. ForexLive

Asset 24 View More
Tue 18 Sep 2018 12:20:44 GMT

Light calendar today with Canada Manufacturing Sales and NAHB index released

View More

Light calendar today with Canada Manufacturing Sales and NAHB index released


Greg Michalowski
Tue 18 Sep 2018 12:20:44 GMT
Category: News
0
Later TIC flows data from the US will be released. There is a light economic calendar today, but there may be the usual comments and analysis on trade a possibility.   

Asset 24 View More
Tue 18 Sep 2018 12:12:59 GMT

The AUD is the strongest. The JPY is the weakest.

View More

The AUD is the strongest. The JPY is the weakest.


//az705044.vo.msecnd.net/20180918/2018-09-18_4-44-10.jpg Greg Michalowski
Tue 18 Sep 2018 12:12:59 GMT
0
The USD is mixed  As the markets digest the "fact" (Trump enacting the US tariffs on China and their response), the AUD and NZD are the strongest. The JPY is the weakest. The USD is mixed with gains vs the JPY and GBP, and losses vs the AUD, NZD, CAD, EUR and CHF.  Overall, the pairs are close together which suggests the order can change with a headline here or there.  Remember, this is still a fluid situation with more tariffs possible, meetings that may be canceled and restarted, retaliations, implications, etc.

Asset 24 View More
Tue 18 Sep 2018 11:42:31 GMT

ForexLive European FX news wrap: Markets stay relatively calm, take US-China trade rhetoric in stride

View More

ForexLive European FX news wrap: Markets stay relatively calm, take US-China trade rhetoric in stride


//az705044.vo.msecnd.net/20180918/18-9-2018-7-21-56-pm.png Justin Low
Tue 18 Sep 2018 11:42:31 GMT
Category: News
0
Forex news from the European trading session - 18 September 2018 Headlines: Markets: - AUD leads, JPY lags on the day - European equities mostly higher, FTSE MIB only laggard

Asset 24 View More
Tue 18 Sep 2018 10:54:35 GMT

7

Wilbur Ross says purpose of US tariffs is to modify China's behaviour

View More

Wilbur Ross says purpose of US tariffs is to modify China's behaviour


//az705044.vo.msecnd.net/20170619/wilbur-ross.png Justin Low
Tue 18 Sep 2018 10:54:35 GMT
Category: News
7
US commerce secretary Wilbur Ross speaks to CNBC - US tariffs on Chinese goods were carefully thought through - Tariffs are seen having minimal impact on inflation ForexLive

Asset 24 View More
Tue 18 Sep 2018 10:51:10 GMT

1

Turkish lira erases post-CBRT rate hike gains

View More

Turkish lira erases post-CBRT rate hike gains


//az705044.vo.msecnd.net/20180918/18-9-2018-6-41-39-pm.png Justin Low
Tue 18 Sep 2018 10:51:10 GMT
Category: News
1
The lira is down by 1.2% against the dollar at the moment ForexLive USD/TRY fell to a low of about 6.01 on the back of the CBRT decision last week but since then the lira has been on a steady path of declines as the same fundamental landscape continues to dominate the picture.

Asset 24 View More
Tue 18 Sep 2018 10:36:23 GMT

2

EU's Malmstrom says latest round of US tariffs on China is an unfortunate escalation

View More

EU's Malmstrom says latest round of US tariffs on China is an unfortunate escalation


//az705044.vo.msecnd.net/20180309/malmstrom.png Justin Low
Tue 18 Sep 2018 10:36:23 GMT
Category: News
2
Comments by EU trade commissioner Cecilia Malmstrom ForexLive Well, not to burst her bubble but the EU could very well face a similar situation in due time. Right now, the trade rhetoric between the EU and US has died down a little as the .

Asset 24 View More
Tue 18 Sep 2018 10:14:59 GMT

3

A case of euro strength against the dollar into year-end?

View More

A case of euro strength against the dollar into year-end?


//az705044.vo.msecnd.net/20180502/fomc-federal-reserve.png Justin Low
Tue 18 Sep 2018 10:14:59 GMT
Category: News
3
Mizuho International believes EUR/USD is headed to 1.25 by the end of 2018 The reasons argued by Chatwell are firstly waning appetite for the dollar as a result of what is happening in emerging markets. The second reason is that he expects the front end of the European yield curve to reprice - with the ECB set to normalise policy next year - and that means that the negative carry the euro suffers now will be a little bit less of a problem.

Asset 24 View More
Tue 18 Sep 2018 09:32:11 GMT

USD/CAD slips to session lows as oil prices surge

View More

USD/CAD slips to session lows as oil prices surge


//az705044.vo.msecnd.net/20180918/18-9-2018-5-22-42-pm.png Justin Low
Tue 18 Sep 2018 09:32:11 GMT
0
The loonie gains on the back of higher oil prices ForexLive And that sees USD/CAD touch a low of 1.3013 on the day, testing the 100-hour MA (red line) at the moment. Move below and near-term bias turns more bearish. But the key here is to hold a firm daily close below the 1.3000 handle.

Asset 24 View More
Tue 18 Sep 2018 09:12:34 GMT

8

Oil jumps as Saudi Arabia said to prefer Brent above $80 per barrel

View More

Oil jumps as Saudi Arabia said to prefer Brent above $80 per barrel


//az705044.vo.msecnd.net/20180918/18-9-2018-5-14-29-pm.png Justin Low
Tue 18 Sep 2018 09:12:34 GMT
Category: News
8
Oil rises as Saudi Arabia is said to be comfortable with higher prices ForexLive Current price of Brent trades under $80, just above $78.60 now. The headline comment offered little details but oil traders are reacting nonetheless.

Asset 24 View More
Tue 18 Sep 2018 08:21:34 GMT

19

EUR/USD pares earlier gains to stay virtually flat on the day

View More

EUR/USD pares earlier gains to stay virtually flat on the day


//az705044.vo.msecnd.net/20180918/18-9-2018-4-03-48-pm.png Justin Low
Tue 18 Sep 2018 08:21:34 GMT
19
China vows to retaliate against the US on latest tariffs measures ForexLive The headline sent yen pairs a tad bit lower and helped lift the dollar a little as E-minis and Treasury yields moved slightly to the downside. As a result, EUR/USD fell from its highs of 1.1718 on the day to be flat on the day now at 1.1683.

Asset 24 View More
Tue 18 Sep 2018 08:00:07 GMT

Italy June industrial orders -2.3% vs +3.6% m/m prior

View More

Italy June industrial orders -2.3% vs +3.6% m/m prior


//az705044.vo.msecnd.net/20180918/18-9-2018-4-02-32-pm.png Justin Low
Tue 18 Sep 2018 08:00:07 GMT
Category: News
0
Latest data released by Istat - 18 September 2018 - +3.6% - Industrial orders NSA +2.8% y/y - Prior +4.9% ForexLive A bit of a dip in industrial activity to end Q2 but then again, it's Q2 data. The release here is very much a lagging data point and doesn't do much for the current Italian/Eurozone economic rhetoric.

Asset 24 View More
Tue 18 Sep 2018 07:44:56 GMT

SNB seen raising rates in Q4 2019 now - survey

View More

SNB seen raising rates in Q4 2019 now - survey


//az705044.vo.msecnd.net/20180918/18-9-2018-3-41-07-pm.png Justin Low
Tue 18 Sep 2018 07:44:56 GMT
Category: News
0
According to Bloomberg's latest survey of economists (7 to 14 September) ForexLive As mentioned in last month's survey , Q4 2019 definitely looks to be the more likely timing for liftoff by the SNB and respondents this time around converge to that result. Not really anything to move markets but continues to highlight that the market only expects the SNB to move after the ECB does "through the summer of 2019".

Asset 24 View More
Tue 18 Sep 2018 07:27:24 GMT

1

EU does not plan to issue a statement on Brexit at Salzburg meeting

View More

EU does not plan to issue a statement on Brexit at Salzburg meeting


Justin Low
Tue 18 Sep 2018 07:27:24 GMT
Category: News
1
According to an EU official on the matter, cited by Bloomberg - EU27 aims for a deal on UK withdrawal in November ForexLive As I have yesterday, the thing about informal meetings is that they are at the end of the day, informal meetings. And thus, no formal conclusions on Brexit updates will come from talks in Salzburg and that means that no matter what is discussed by Theresa May with EU leaders tomorrow it will not matter unless it is brought upon the EU Summit next month.

Asset 24 View More
Tue 18 Sep 2018 07:22:29 GMT

4

China says that current US unilateral trade actions cannot be accepted

View More

China says that current US unilateral trade actions cannot be accepted


//az705044.vo.msecnd.net/20180823/us-china.png Justin Low
Tue 18 Sep 2018 07:22:29 GMT
Category: News
4
Comments by China's foreign ministry - US has not been sincere - Talks on an equal footing are the only correct way to resolve trade conflict - No comments on possible qualitative measures against US on trade ForexLive

Asset 24 View More
Tue 18 Sep 2018 07:21:40 GMT

ECB's Draghi says further efforts needed to reduce remaining stock of NPLs

View More

ECB's Draghi says further efforts needed to reduce remaining stock of NPLs


Justin Low
Tue 18 Sep 2018 07:21:40 GMT
Category: Central Banks
0
ECB president Draghi speaks in Paris on banking supervision Full text can be found , in case you have troubles sleeping at night. ;) here ForexLive

Asset 24 View More
Tue 18 Sep 2018 07:14:19 GMT

EU ministers hope for a Brexit deal by November

View More

EU ministers hope for a Brexit deal by November


Justin Low
Tue 18 Sep 2018 07:14:19 GMT
Category: News
0
Some comments by German and Austrian ministers on Brexit - EU position is an excellent basis for a Brexit deal - No one wants to punish the UK - It is up to UK to find a way to deal with the EU ForexLive

Asset 24 View More

More Headlines


By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose