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Market Summary

Market Briefing

Federal Reserve Chairman Jerome Powell said Feb will continue to expand and cut interest rates. 

The latest official data shows the US economy increased 130,000 jobs last month and the growth rate is worse than expected.

China’s central bank said it will cut the reserve ratio to the lowest level since 2007, injecting 900 billion yuan liquidity into the economy.

White House Economic Adviser Larry Kudlow said on last Friday that trade negotiations will "heat up" when Chinese officials come to Washington in the coming weeks. The two governments expressed their hope to "get meaningful progress."

The British opposition parties have agreed not to support Boris Johnson's general election request before the EU summit in mid-October. At the same time, the bill aimed at preventing no-deal Brexit has been approved by the House of Lords and will be passed into law.

GBP/USD may be propelled higher due to the final stage of blocking no-deal Brexit.

EUR/USD has fallen to a new two-year low of 1.0925 in the past week where it bounced to 1.1025. Now attention shifts to central bank, with the ECB meeting this Thursday and the US Federal Reserve on September 18.

Today’s News

Server TimeHK TimeCurrencyDescriptionExpectation
11:3016:30GBPGDP m/m0.0%
11:3016:30GBPManufacturing Production m/m-0.2%
9th-15th CNYNew Loans1060B

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