Month: August 2019

Gold spiked to fresh multi-year tops, above the $1480 region • The trading range constituted towards the formation of a bullish continuation – rectangle chart pattern and with technical indicators on the daily charts holding in the bullish territory, the stage seems all set for an extension of the positive momentum • The yellow metal seems more likely to extend the ongoing appreciating move further towards $1478-80 intermediate resistance en-route the key $1500 psychological mark for the first time since April 2013 amid the global flight to safety • Email Now To Access Our Next SPDR Gold Trust (GLD) Algo Trade Alert: inquiries@ppchk.net

Spot Gold Bullion Surged To $1,471.95 today as risk aversion gripped markets amidst riots in HK and Trump’s China Trade Tariffs • Money has been pouring into gold as investors seek to protect their wealth amid mounting concerns of slowing global growth that are seen spurring monetary easing from central banks around the world • Since the end of April, gold has rallied >11% in the spot market • Email Now To Access Our Next SPDR Gold Trust (GLD) Algo Trade Alert: inquiries@ppchk.net

In the week ended Thurs, 1 Aug, Investors plowed $5 billion into U.S. Equity ETFs as the Fed Cut Interest Rates. Year-to-date inflows now stand at $147.2 billion, compared with $145.2 billion at this same time last year. Read Full Strategy: bit.ly/SHOWGOESON

ECB says Global trade likely to pick up only gradually in the coming quarters • Will remain weaker than overall economic activity • US-China trade war has sapped confidence and held back investment • Downside risks to the outlook for trade have partially materialised in recent months • The threat of further escalation of trade tensions persists • Germany Final Services PMI drops to 54.5 from prior 55.8. Composite PMI drops to 50.9 from prior 52.6 • Markit: “It’s very early stages, but the PMI figures suggest that the economy is heading for another weak GDP performance over Q3, on the back of what is generally expected to have been a slight contraction in Q2. A further weakening of the data flow in the coming months and Germany’s economy could be staring down the barrel of a mild technical recession.” • The services print also hits a six-month low and that suggests possible spillover effects from the manufacturing sector, which could prove to be an issue later on in the year • We Are Able To Sell EURO 10% Above Market – PM Us For Details (Facebook/Linkedin: Blue Phoenix Financials) • Email Now To Access Our Next EURO Algo Trade Alert: inquiries@ppchk.net

EURGBP has today surged above £0.9180 and has climbed >100 pips since last week • GBPUSD  sellers are back in near-term control and will be looking to retest the 1.2100 handle as well as last week’s low of 1.2080 • Brexit uncertainty remains the name of the game for the pound and with Dominic Cummings saying that a no-deal Brexit is inevitable, it is spooking market participants a little as we begin the new week • We Are Able To Buy EURGBP 10% Below Market – PM For Details (Facebook/LinkedIn: Blue Phoenix Financials • Email Now To Access Our Next EURGBP Algo Trade Alert: inquiries@ppchk.net

Bloomberg: Bitcoin climbed past the $11,000 level for the first time since mid-July • The largest cryptocurrency surged as much as 12% from Friday’s close and traded at $11,565 at 12:50 p.m. in Hong Kong • The Bloomberg Galaxy Crypto Index tracking a basket of cryptocurrencies jumped as much as 7.2% • Email Now To Access Our Next BTC Algo Trade Alert: inquiries@ppchk.net

Bloomberg: The MSCI Hong Kong Index slumped as much as 3.5% on Monday in a ninth day of declines, matching the longest streak since the 1997 handover

Bloomberg: Hong Kong business confidence, already strained by the U.S.-China trade war, faces fresh challenges as the street clashes damp spending and deter tourists. The economy contracted more than expected last quarter from the previous three months, with retail sales plunging 6.7% in June from a year earlier, while an IHS Markit purchasing managers’ index fell to the lowest since 2009

Bloomberg: A tumbling yuan is the latest challenge to hit Hong Kong’s equity market. The currency on Monday plunged beyond 7 per dollar for the first time since 2008 amid speculation Beijing was allowing depreciation to counter Trump’s tariff threats

“I would advise investors to tread extra carefully when buying Hong Kong shares,” said Alvin Cheung, Associate Director at Prudential Brokerage. “There could be 300-400 more points on the way down for the HSI. Subsiding fluctuations in the offshore and onshore yuan is now a prerequisite for any kind of stability in stocks.”

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The offshore yuan plunged beyond 7 per dollar for the first time since 2008 amid speculation Beijing was allowing currency depreciation to counter President Donald Trump’s latest tariff threat

The offshore exchange rate tumbled 1.6% to 7.0884 a dollar at 10:36 a.m. after the People’s Bank of China set its daily reference rate at a weaker level than 6.9 for the first time since December. Earlier, it sank as much as 1.9% to a record low of 7.1132

“Now that 7.0 has been broken both onshore and offshore, it may be deemed to be part of the response to the new tariffs,” said Christy Tan, head of markets strategy at National Australia Bank Ltd. in Singapore. “The authorities may only step in to manage if it gets disorderly, such as a sustained spike in volatility, herd behavior across spot, forward, option trading and so on.”

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