Today traders will focus on employment in Australia, the expectation for China’s response to US tariffs, as well as the escalation of the situation in Hong Kong.
Chinese military forces are conducting exercises near the Hong Kong border. Affects Hang Seng
The Hong Kong’s government announced an economic support package worth $2.4 billion. Affects Hang Seng
China plans to respond to latest US tariffs. Affects S&P500
Employment growth rate in Australia. Affects AUD
Retail sales increased by 0.2% despite negative expectations. Affects GBP
The US releases building permits. Experts expect an increase of 1.27 mln. If the result exceeds the forecast, the USD will get support.
Ongoing protests in Hong Kong led to the collapse of the Hang Seng index. It dropped more than 12%. The news that the Chinese military forces are concentrating near Hong Kong has made investors nervous, but the government’s announcement to provide an economic support package worth $2.4 billion has changed the situation.
The MACD indicator confirms the local growth of Hang Seng. Besides, the quotes have found support from the trend line.
The chart broke the descending resistance line, so bulls can get active.
The trend down may continue after yesterday’s rollback. In terms of technical analysis, Bitcoin can reach first 9000, then 8500.
Gold on this day in history
- Since 2000 August 16th has been a trading day 14 times.
- On 71% of those days, the asset ended with growth.
- The trend down was limited to 2.2%.
- The maximum reinforcement range was 1.8%.