FOREX TRADING STRATEGY AUG 10 - HUGE LOSS

Aug 10, 2020
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There has been a lot going on around the world since the weekends. Let's take a look at them to prepare for the next trading weeks.

5 million mark

The United States has passed the 5 million Covid-19 mark after adding 1 million new cases in more than 2 weeks. Infections and deaths have slowed in Florida and Arizona, while the test positive rate in Texas has hit a new record. US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi have signaled a readiness to resume negotiations on a pandemic bailout without a set date.

forex news Aug 10

Italy reaffirmed its plans to open schools in September, a message reiterated by the British government, even as the number of new infections there had risen to more than 1,000. Paris will begin enforcing the mask on its busiest streets, starting Monday. Microsoft founder and billionaire philanthropist Bill Gates says it is "amazing" that the US government has yet to improve in its Covid-19 test.

Hong Kong’s accusation

Hong Kong's director of privacy and privacy has criticized the US Treasury Department for "illegally sharing personal information" of Ms. Carrie Lam and other officials online as part of the sanctions. for them. Acting Privacy Commissioner Tony Lam said in a statement: "The US Treasury Department's disclosure of data by people involved is clearly excessive and unnecessary," he added. using or duplicating your address, passport number and other data could be considered a crime - "it is the equivalent of doxxing (unauthorized sharing of information)". On Friday, the United States said it was imposing sanctions on 11 Chinese officials and their allies in Hong Kong for the role of cutting political freedoms in the former UK. . Beijing has imposed new national security laws that undermine the city's autonomy and infringe on the rights of residents, they say. Meanwhile, the US, UK, Australia, Canada and New Zealand said they were "very worried" by the Hong Kong government's decision to postpone legislative elections and ban pro-democracy candidates from joining.

The opening market

The money market started the week silently; while the stock market was likely to open in a mixed manner as investors weighed on uncertainty over the prospect of further US stimulus measures. The dollar was stable against all other G10 currencies at the beginning of Monday trading. S&P 500 index futures fell at the open today. Asian futures markets showed a slight decline in Hong Kong and a sharp rise in Australia; Japanese markets are closed for the Mountain Day holiday and Treasury Bonds will not trade until the London session is open. Oil increased. US President Donald Trump signed 4 executive orders related to economic relief caused by coronavirus, including extended unemployment benefits, temporary tax deferral, deportation protection and student’s loan relief. Investors are grappling with an ambiguous timeframe on economic stimulus proposals as neither side gave a firm date in interviews on Sunday's political dialogue programs. sure to re-start the discussion.

Having faith

Warren Buffett is betting on a brighter outlook for Berkshire Hathaway, the company that spent a record $5.1 billion buying back its own shares in the second quarter and may have kept pace above that in July. The billionaire investor sought to capture a larger discount on the S&P 500 index in a quarter when the group's operations performed better than expected. Buffett said in early May that he was keeping cash high in preparation for any direction the pandemic might take and not being overly attracted to buybacks. But when he looked for undervalued assets to spend billions of dollars in, he focused on the stock of his own company.

forex news Aug 10

Big loss

After months of protests and restrictions aimed at combating the Covid-19 epidemic, Hong Kong's biggest property tycoons are also feeling distraught. With viruses blocking tourist arrivals and national security laws threatening Hong Kong's status as a financial center, the wealth accumulated by real estate tycoons suddenly shrank. The problem is even worse for them when the city's finance secretary urges landlords to give rent concessions to tenants to resolve the crisis left by the coronavirus outbreak. While the combined assets of seven of Hong Kong's real estate tycoons are still over $107 billion, the impact of recent events has cost them $7.7 billion this year when The property was hit by a political turmoil and an unpredictable viral outbreak.