The
unceasing turmoil across emerging markets has clearly bruised market sentiment
with traders attacking EM currencies and equities at any given opportunity. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
More pain seems to be ahead for emerging markets as the combination of global
trade tensions, prospects of higher U.S. interests and overall market
uncertainty haunt investor attraction.
Speaking
of trade, the US-China trade war could reach a dangerous tipping point if the
Trump administration moves ahead with imposing tariffs on another $200 billion
worth of Chinese goods. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Such a development is likely to fuel fears of a full-blown trade war between
the world’s two largest economies becoming reality. With a trade war
representing a significant risk to global growth and stability, appetite for
risk is poised to diminish further ultimately punishing emerging markets and
global stocks further.
In the
currency markets, Sterling bulls were thrown a lifeline yesterday after
Bloomberg reported that both the UK and Germany have dropped key Brexit
demands. However, some gains were later relinquished after German officials
denied these reports. Taking a look at the technical picture, the GBPUSD jumped
over 150 pips with price peaking around 1.2980 before eventually sinking back
towards 1.2900. Bulls need to secure control above 1.2900 for the GBPUSD to
extend upside gains towards 1.2980 and 1.3030, respectively http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Today
has been a positive trading session for Gold thus far thanks to a combination
of short-term Dollar weakness and risk aversion. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
With prices currently trading back above the $1,200 psychological level and
coincidentally above the daily 20 Simple Moving Average, intra-day bulls could
target $1,214. However, the medium-to longer-term outlook for the yellow metal
remains tilted to the downside with Friday’s U.S. employment figures playing a
key role in where the metal concludes this week.
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