Tools for Traders Top Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action Insight Mid-Day Report: Risk On Again as Stocks Futures Rebound on Facebook, Yen and Swiss Franc Dive The pattern of risk on/risk off continues today. After opening lower, European indices pare back much losses with FTSE now back in black at the time of writing. US futures also point to slightly higher open. Tech stocks, who were the main reason of yesterday's selloff, recover mildly. Facebook's announcement of new privacy tools that streamline the process of personal data control is taken well by the markets. And as a result, Yen and Swiss France are steeping sold off entering into US session. Australian Dollar and Canadian Dollar are trying to stage a recovery, followed by Dollar. But after all, it'd quarter-end trading with markets in holiday mood. Those movements might no be again to persist. US- China Trade Tensions: Trump's Soap Opera to Get Better Deal Over the past months, US trade policy has been a major cause of the wax and wane of the financial markets. The White House has triggered a number of investigations under the rarely used 1972 US trade law since Trump took office. All investigations have resulted in tariff imposition, claiming to be targeting China. While Trump's tariff vow is indeed consistent with his brinkmanship foreign policy practice (pushing everything to an extreme in order to gain bargaining power), we notice that the tariffs announced are merely threats and do not intend to pose actually impact on Chinese economy. Technical Outlook USD/JPY Mid-Day Outlook Daily Pivots: (S1) 105.12; (P) 105.51; (R1) 105.71; More... USD/JPY's rebound from 104.62 extends to as high as 106.33 so far today. But still, it's staying well below 106.63 resistance. Intraday bias remains neutral with near term outlook staying bearish. On the downside, break of 104.62 will resume larger fall fro 104.20 projection level first. Sustained break there will pave the way to 98.97 (2016 low). Nonetheless, break of 106.63 will indicate short term bottom and turn bias back to the upside for stronger rebound. Suggested Readings Dollar On The Rise Despite Trade Stress, Techs Push European Equities Lower Risk Aversion Has Stamina As Tech Sector Quivers Euro Trading Sideways Ahead Of US GDP Forex Analysis: GBPUSD And NASDAQ Index Euro Looks To German Inflation Data For Direction AUDUSD Holds At 3-Month Lows, Bearish In Short And Medium-Term Economic Data
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