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News, Trends, & Analytics 18.09.2019

International trade tensions create volatility around the world

U.S. manufacturing numbers were a little deceiving, Canadian factory sales fell & Facebook’s stablecoin continues to face scrutiny.

 

News

U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production, but the outlook for factories remains weak against the backdrop of trade tensions and slowing global economies. Affects USD


German Chancellor Angela Merkel on Tuesday called for a return to an international deal curbing Iran’s nuclear activities as the only way to defuse tensions in the Middle East. Affects Brent


Canadian factory sales slid by 1.3% in July from June, far exceeding the 0.3 percent decrease expected by analysts, as plant maintenance shutdowns weighed on sales in the primary metal and motor vehicle industries, Statistics Canada said. Affects CAD


U.S. and Chinese officials will restart trade talks at the end of this week, but any agreement the world’s largest economies carve out is expected to be a superficial fix. Affects the S&P 500


German Finance Minister Olaf Scholz said on Tuesday that policymakers could not accept the emergence of Facebook’s planned Libra or other parallel currencies backed by assets such as traditional money deposits, short-term government securities or gold, adding that Berlin would reject any such plans. Affects Facebook

 

Calendar

08:30 GMT

The British CPI (YoY) for August will be released. The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. Affects GBP.


12:30 GMT

The Canadian Core CPI (MoM) for August will be published. The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. Affects CAD.


14:30 GMT

U.S. Crude Oil Inventories will be reported. The measurement of how much oil U.S. companies have in stock. Affects Brent.


18:00 GMT

The Fed’s Interest Rate Decision will be announced.

 

Technical Analysis

S&P 500

The Sino – U.S. trade war wages on, though talks have been set and anticipations are moderate – as neither side expects much to come from the next round of deliberation.

Riding the wave of volatility, the 4H TF shows a slight Engulfing Bullish signal after Three Black Crows, indicating a possible trend change.

EUR/USD

This pair’s 1H TF has shown an Evening Star, signaling the recent uptrend is losing momentum.

Boeing

This manufacturer’s 4H TF has shown a Bullish Engulfing signal as it approaches its resistance level around 384.

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