FOREX STRATEGY DEC 20 - GLOOMY DAYS
The world has surely moved in the last 24 hours. It’s our job as forex traders to keep up with the world currents to apply the correct forex trading strategies.
Goldman and 1MDB
Goldman Sachs Group is negotiating to resolve the 1MDB scandal that involves admitting the sins of one of the subsidiaries instead of the parent company and that it is a company in Asia. The deal will also cover fines of nearly $ 1.5-2 billion. Federal agencies have been seeking penalties ranging from 1.5-2 billion in recent weeks, less than some analysts had previously predicted. Banks often urge subsidiaries to plead guilty to misconduct to avoid affecting the business of the parent company. The deal could include an independent oversight to monitor compliance, Dow Jones reported last Thursday.
A bearish market
Asian stocks are likely to open slightly lower as trading volume declines by the end of the year. The dollar and Treasury Bond yields did not have much volatility, while oil prices have recently increased. The futures market in Japan and Australia declined, while in Hong Kong increased. The S&P 500 index has surpassed 3,200 for the first time, bringing its increase to more than 7% in the fourth quarter and 28% this year.
The market seems to have ignored President Donald Trump's impeachment. The dollar is stable compared to other strong currencies. China said it was closely connected with the United States to sign an initial trade deal announced Friday. Stock traders seem to be in a "hold" model when the details of the trade deal are still vague and there are not enough catalysts for the stock market to grow.
House Speaker Nancy Pelosi made her position known to the Senate Majority Leader Mitch McConnell that she will not name anyone who will prosecute the Democratic Party's lawsuit against the President until it rules Submissions are obviously "fairer". Pelosi surprised many House Democrats on Wednesday night after the House impeached Mr. Trump when she said she would delay the names of impeachment managers who would argue about the case. lawsuit in the Senate - until the Senate issues the proceedings for the trial. Ms. Pelosi said that the problem lies in the procedure and the ability to make a bipartisan election plan of the Senate after President Bill Clinton was impeached. Meanwhile, McConnell, Trump and their Republican allies mocked Pelosi about her delay.
Out of breath
Travelers who want to find a vacation in Sydney with the blue sky this year may not be so lucky. Instead, they were caught in the smokescreen due to suffocating wildfires in the city and tour operators were forced to move passengers to other parts of Australia. But what effect does a city have on the whole country?
The problem is, Sydney accounts for a quarter of Australia's gross domestic product, according to estimates by SGS Economics and Planning. And apart from the direct financial impact, haze is hurting the port's well-known global brand. Lili Stephanie, general manager of AJ Travel, which organizes trips and cruises in Australia, said: "Although it is still too early to quantify the economic impact of burning wildfires. "The east coast is drought-free in Australia, but intense fires and heavy fog for six weeks are likely to take away some of the household spending, at least."