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London is attacked by Terrorism claimed by IS

  • DAR Wong
  • 18 September 2017

Fundamental Outlook   The U.S. inflation shows sign of recovery that may lead to rate hike this week. China stays on track of inflation with resilient consumer prices. U.K. is attacked by terrorism for the fifth time that injured 29 casualties. North Korea indulges in defiance again by firing a new missile test over Japan.

The U.S. producer prices rose 0.2 percent in August from prior month and highest in 4-month record. Consumer prices rose 0.4 percent in August and best in 7 months. Excluding food and energies, core prices grew 0.2 percent and matched forecast.

American claims for unemployment benefits declined to 284,000 ended9 September and lower than forecast. Another report on retail sales slid 0.2 percent in August while core sales expanded 0.2 percent, both were below forecast.

China’s consumer prices rose 1.8 percent in August on year basis and highest in 7 months. Another report on producer prices stayed high at 6.3 percent gains for same month on year, both marking robust inflation.

China’s industrial production grew 0.6 percent in August from year ago. Fixed asset investment by Government rose 7.8 percent in August and consecutively dropped for fifth month. Another report on retail sales expanded 10.0 percent in August on annualized rate and lower than previous month.

Japan’s producer prices gained 2.9 percent on annualized rate in August and attains best record for past 3 years. Revised industrial production slid 0.8 percent in July and matched forecast.

U.K. consumer prices grew 2.9 percent in August from a year ago and better than annualized 2.6 percent in July. Producer prices input on monthly comparison also rose 1.6 percent and best record in past 6 months. Another report on retail prices index shot 3.9 percent in August in annualized rate and highest in past 5 years’ record.

U.K. reports average earnings in the 3-month period ended August rose 2.1 percent and matched forecast. Claimant counts for jobless benefits dropped 2800 in August and beat consensus. Unemployment rate poised steady at 4.3 percent in July. Bank of England holds interest unchanged but policymakers say interest rate may raise in coming months.

Last Friday morning in London, a bomb explosion attacked Parsons Green station and made 29 injured. Islamic State has claimed responsibility for the attack. The U.S. President Trump reassures they will continue to help U.K. in thwarting terrorism. This is the fifth terrorism attack in London this year.

Before the weekend, North Korea fired a ballistic missile again across North Japan and landed into the seas. South Korea retaliated by firing a missile but embarrassed in the malfunction of conducting the test.

 

Technical Forecast   USD/JPY shot up to 111.30 on Friday and slid in swinging trend. Resistance is seen at this current high as confluent to EMA200 line. This week, we forecast the trend will move from 109.30 – 111.30 range as the trend swings in whipsaw while waiting for FOMC outcome.

EUR/USD is moving into correction after receding from the top almost touching 1.2100 high. This week, we reckon the trend will swing from 1.1850 to 1.2100 range as market attention will watch Dollar policy in leading the trend. Beware of breaking beyond the aforementioned range for leading into a new direction.

GBP/USD shot up last week especially on Friday. Market has reacted to higher to Pound due to unchanged policy in Bank of England. This week, the trend may begin to slide into correction as investors respond to London attack. Market has an immediate resistance at 1.3600 and probably will re-test 1.350 support. Selling pressure is expected at 1.3600 – 1.3650 region.

 

Disclaimer: This article is written for general information only. No liability by the writer, publisher or any third party involved in the distribution of this work.

DAR Wong is a registered fund manager in Singapore with 27 years of global trading experiences. You may reach him at dar@pwforex.com


About the Author
DAR Wong (Singapore)
An international speaker with 27 years of trading experience in the global financial markets, DAR is a Market Master and author of “Living Daylight in Stock Market: Monetizing Your Profits in 8 Days”.

DAR Wong is an active market trader, registered fund manager, educator and author.He began his career in 1989 as an institutional Futures trader with Bank of America. DAR Wong specializes in trading global derivatives and financial markets. He has 26 years of experience accumulated through tenure with Bankers Trust, Barclays Bank, Citigroup (Smith Barney Shearson Inc) and as an independent trader.

DAR is the author of “8 Ways to Invest in China’s Emerging Market” and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional traders and active investors.

He is a popular and sought after international speaker who has presented to financial professionals and investors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China, Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East (UAE).

DAR is registered with NASD (now known as FINRA) series 3 and 5 as approved by National Futures Association (NFA) of USA and holds a current portfolio as Fund Strategist and Advisor with Dektos Investment registered with Monetary Authority of Singapore.

DAR is profiled as “One of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading “. In January 2015, DAR was honored with Outstanding Award for International Financial Market Analysis granted by ASEAN Commerce (Thailand).

DAR is the author of "8 Waysto Invest in China's Emerging Market" and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional tradersand active investors.1

He is a popular and sought after international speaker who has presented to financialprofessionals and inverstors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China,Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East(UAE).2


Year
2003 - Set up ASPRI to provide hedging advisory for corporate clients and training for financial professionals
2009 - Released first book “8 Ways to Invest in China’s Emerging Market”
2010 - Profiled as “one of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading” along with Larry Williams, Andrea Unger, Michael Cook, and Daryl Guppy etc
2011 - Received “Spirit of Enterprise”awarded by Singapore Management University in Singapore
2012 - Honored with Individual Diamond Career (Thailand) awardedby Royal Privy Council of Kingdom of Thailand
2013 - Appointed Vice Chairman of ASEAN-China Commerce Association and led a delegationtothe annual China-Asean Expo in Guangxi Province, China
2014 - Fund Manager cum Director in Dektos Investment Corporation registered with Monetary Authority of Singapore
2015 - Released new book “Living Daylight in Stock Market - Monetizing Your Profits in 8 Days” in January
2015 - Honored with Outstanding Award in International Financial Market Analysis awarded by ASEAN Commerce (Thailand)
2016 - Honored with Medal of Integrity by Royal Councilin Palace of Palembng, Indonesia

References

1.TV programs on ChannelNewsAsia (Singapore);Radio on 95.8 Capital (Singapore); Newspapers such as The Borneo Post (Malaysia), 资汇报 (Malaysia); Regional financial magazines such as The Analyst (India), 东盟商界(ASEAN, China), 资本杂志 (Malaysia).

2.Spoke at events for CME Group, Euronext LIFFE, Tokyo Commodity Exchange, Singapore Exchange, Korea Exchange, Bursa Malaysia, Thailand Futures Exchange, Jakarta Futures Exchange, Indonesia Commodity and Derivatives Exchange, Tokyo Commodity Exchange, Interactive Brokers, Xinhu Futures, Hangzhou Money Fair, China (Shenzhen) International Finance Expo, China (Guangzhou) International Finance Expo, Euromoney, CIMB, Maybank, RHB, UOB Bank, Asia Trader & Investor Convention, Global Rubber Conference, International Rubber Conference, Malaysia Rubber Board, International Rubber Research and Development Board,Malaysia Ministry of Agriculture, Rubber Industry Smallholders Development Authority, Vietnam Rubber Association, Cambodian Rubber Association, Bureau of Agriculture Research Philippines, Myanmar Rubber Planters & Producers Association etc.


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