Aug 16 2021 0

The West is stumbling with the Delta variant of the Corona virus. Today's events will tell us if there can be a recovery from that in the near future. And from that, we will figure out how we should prepare our trades for upcoming days.

Latest updates:

  • US consumer confidence data was a big disappointment, well below its early pandemic lows.
  • US producer cost (PPI) data posted its biggest annual gain in more than a decade. This data is released after previous CPI data hinted at the possibility of peaking inflation. Analysts say this strong PPI data should help with the removal of some of the Fed's stimulus measures.
  • Covid-19 remains a barrier and this could lower US consumer confidence in the future.
  • There are growing concerns that the spread of the Delta Covid-19 variant will limit oil demand growth this year.

Afgan seized

On Sunday, Taliban leaders entered Kabul, preparing to take full control of Afghanistan two decades after they were abandoned by US troops. The militant group says it has taken over the presidential palace and plans to soon declare the creation of a new "Islamic Emirate of Afghanistan". Hours earlier, US-backed President Ashraf Ghani had fled the country. The Al Jazeera network has broadcast what it says are live images of armed Taliban fighters roaming the presidential palace and posing at desks. The Biden administration raced to evacuate the remaining diplomatic staff in Afghanistan, marking a symbolic end to America's longest war and raising alarm in Congress that the country become a threat to the national security of the United States.

Waiting for China

Asian stocks will start the week flat as investors await key China data to gauge the impact of the Delta virus on the post-pandemic recovery. China's retail sales and industrial output may show a slowing growth rate in July. Futures markets fell in Japan and Australia, but inched higher in Hong Kong, while US stock futures fell. U.S. stocks made another record on Friday but consumer sentiment fell to near-decade lows generated some caution, pushing Treasury yields and the dollar lower.

Trillions of dollars investment

Prime Minister Narendra Modi said India aims to invest US$1.35 trillion in infrastructure to boost economic growth and create jobs, and set out national priorities on the 75th Independence Day of the country. Investments will be made in India's logistics sector to help integrate the country's diverse modes of transport. The government has also pushed to streamline labor laws, seek to reform agriculture and amend tax laws amid growing growth risks, including inflation. Mr. Modi aims to reduce India's energy imports over the next 25 years as part of the nation's carbon efficiency targets.

An experts hunt

Companies in China are scouring ministries and regulators for officials willing to help them navigate Xi Jinping's sweeping crackdown on the private sector, which has hampered some public the country's most famous company. According to headhunters, officials at supervisors in charge of the financial system and officials from the ministries of commerce, industry and information supervisors are the most sought after, with salary packages in some cases amounted to half a million dollars, about 60 times the average for civil servants.

Yassin steps down

Malaysian Prime Minister Muhyiddin Yassin told his party he plans to step down on Monday, potentially prompting further political and economic challenges in the pandemic-hit nation. According to a minister in the Prime Minister's Department, 74-year-old Muhyiddin told members of the ruling Parti Pribumi Bersatu Malaysia that he plans to meet the king on Monday and submit his resignation. Mr. Muhyiddin has consistently resisted calls to resign since taking office in March 2020, making it unclear whether he will actually submit his resignation. His rule has been beset by the constant demands and threats of lawmakers from the largest party in the ruling coalition.


Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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