China is not happy with the trade war, Hong Kong leader denies allegations of wanting to step down, & Oil dropped a bit thanks to OPEC and Russia.
France has proposed offering Iran about $15 billion in credit lines until year-end if Tehran comes fully back into compliance with its 2015 nuclear deal, a move that hinges on Washington not blocking it, Western and Iranian sources said. Affects Brent
Chinese Vice Premier Liu He said on Tuesday that China firmly opposes a trade war as it is not good for it, the United States and the world, the state news agency Xinhua reported. Affects the S&P500
Oil prices fell more than 2% on Tuesday, weighed down by rising OPEC and Russian oil output as well as the protracted U.S.-China trade dispute that has dragged on the global economy. Affects Brent
Hong Kong leader Carrie Lam said on Tuesday she had never asked the Chinese government to let her resign to end the Chinese-ruled city’s political crisis, responding to a Reuters report about a recording of her saying she would step down if she could. Affects the Hang Seng Index
Britain’s Services PMI for August will be released. The Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector. Affect GBP.
The BoC Interest Rate Decision will be announced. Bank of Canada (BOC) governing council members come to a consensus on where to set the rate. Affects CAD.
The Russian ruble is cheaper against the US dollar amid falling oil prices. The trend is likely to continue as OPEC reported an increase in the volume of raw materials produced last month. The market may receive an excess supply.
The level of 67.00 is unlikely to stand, as this is the second attempt of the bulls to break it in the last month.
The oil chart broke its Triangle. Brent may fall in price to the support level of 52.00.
The asset’s price rose after a turn away from the support level of 0.66900 and the breakdown of the downward resistance level. The pair can go up to 0.67800.
AUD/USD on this day in history
- Since 2000 September 4th has been a trading day 14 times.
- On 47% of those days, the asset ended with growth.
- The maximum reinforcement range was 1.24%.
- The trend down was limited to 2.44%.