On Wednesday we discussed how the weekly outlook for stocks took a bearish turn.  On Thursday it appeared that the Fed intervened to prevent stocks from breaking below the early August low, which is causing volatility in the market.  

Chart

Stocks appear to be heading into an intermediate cycle low. Stocks are also caught between the 10 week MA and the 50 week MA.  So while in there is uncertainty for stocks in the short term, we can be certain that a trending move cannot begin without stocks either closing above the 10 week MA or closing below the 50 week MA.

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AUD/USD: Hong Kong protests, a lack of data limit response to phase one news

With the escalating tension in Hong Kong and an absence of major data/events at home, AUD/USD shrugs off the latest trade positive headlines from US and China.

AUD/USD News

USD/JPY holds steady near 108.75 amid Hong Kong woes, trade hopes

The USD/JPY pair is seen treading water around 108.75 region, as a sense of caution prevails in Monday’s Asian trading amid escalating Hong Kong violence. All eyes to remain on US-China trade negotiations amid light US calendar.

USD/JPY News

USD/JPY holds steady near 108.75 amid Hong Kong woes, trade hopes

The USD/JPY pair is seen treading water around 108.75 region, as a sense of caution prevails in Monday’s Asian trading amid escalating Hong Kong violence. All eyes to remain on US-China trade negotiations amid light US calendar.

USD/JPY News

US Dollar Index challenges weekly lows near 98.00

The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main rivals, is now accelerating the downside and threatens to test the key support at 98.00 the figure.

US Dollar Index News

Gold seesaws around $1468 amid geopolitical tension, trade optimism

With the geopolitical tension concerning Hong Kong and Iran crossing wires, optimism surrounding the US-CN trade deal seems to fail in luring the Gold sellers. As a result, Gold takes rounds to $1,468 during early Asia.

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