Sep 16 2020 0

Let's go over the news that can impact the market heavily today.

WTO accused US

The World Trade Organization has rejected President Donald Trump's main justification for a trade war against China, saying that the U.S. tariffs on Chinese goods violate international rules. 

news Sep 16

On Tuesday, a panel of three trade experts from the WTO said the United States had broken global regulations by imposing tariffs on Chinese goods in 2018. Washington imposed tariffs on $400 billion on Chinese exports. But this ruling did not convince Washington of the "America First" trade policy and would not change the current trading environment. US Trade Representative Robert Lighthizer said the WTO report released on Tuesday had "confirmed" Trump's bold foreign policy seeking to eliminate multilateral organizations such as the trade body whose headquarter is in Geneva. Although the ruling won China a paper victory, it did not make much sense as the United States made it difficult for the WTO by removing a panel overseeing the appeals process.

Decision for TikTok

A US National Security Council tasked with reviewing Oracle's bid for TikTok held a meeting Tuesday afternoon to decide whether to propose the president to approve or reject the deal. Mr Trump said his staff are "very close to a deal" and will make a decision "soon" to approve the deal. Oracle's proposal to lack a payment to the US government that the president has affirmed is a condition of any deal. However, the company will try to use its promise of creating 20,000 new jobs through the popular video app as a way to win presidential approval. Meanwhile, a senior Chinese official accused the US of "economic bullying" against TikTok.

A quiet market

Asian equities are likely to start trading quietly on Wednesday as investors await a Federal Reserve meeting to gauge the central bank's level of support for the recovery. economic recovery. Futures markets showed modest gains in Australia and Hong Kong, while little was changed in Japan. The S&P 500 Index futures opened relatively flat after the benchmark rose for the third straight session, thanks to a tech-share boost that helped offset the late slump in financial stocks. Treasury bonds and the dollar were little changed. Oil rose to its highest level in more than a week after economic data from China to the US both fueled optimism that factories were back on track. The Federal Reserve is expected to maintain its dovish stance at Wednesday's policy meeting.

Mr. Suga’s vision

Yoshihide Suga, who is about to become Japan's new prime minister today, is known as a tough, mission-based micro-manager rather than a self-proclaimed macroeconomic leader like a pro. in charge of Shinzo Abe. Mr. Suga has vowed to be honest with Abenomics, but economists suspect that more currency games will be coming up in the Bank of Japan or any major spending left in the bank. Government policy, which is already more dependent on debt than any other developed economy. That means Abenomics' third pillar - structural reform - is Suga's best attack to reshape economic policy. Mr. Suga identifies himself as an innovator who wants to bring Japan's bureaucracy into the digital age and tackle conundrums like ineffective regulatory and administrative reform. Mr. Suga is considering the need for a third additional budget and expansion of post-pandemic support measures; more likely to keep the 2% inflation target without actively promoting it; He has called for more action to save jobs and said he would push women's recruitment goals and make progress in child care delivery.

forex news Sep 16

Dalio’s doubt

According to Ray Dalio, the dollar's decades-long position as the global reserve currency is in jeopardy because of the steps the United States has taken to support its economy in modern times. Covid-19 translation. "There is too much debt for production and to make money off debt," Dalio said on Tuesday. Meanwhile, this billionaire is having a very bad year. His $148 billion hedge fund, Bridgewater Associates, has suffered huge losses even as competitors mined blocks of money in volatile markets. Damage as of August: down 18.6% in top Pure Alpha II fund. According to more than 25 people with knowledge of the company's internal operations, those losses - the worst in a decade - topped a rundown of troubles that pushed Bridgewater into the cycle of crisis management.


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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