Stock Market News: Stock Market Review, Aug 12th, 2019

Stock Market News: Stock Market Review, Aug 12th, 2019

Trade War => Currency War

Last week, market were very much moved by the USD/RMB exchange rate.

After Trump announced a 10% tariff on a balance of china imports, USD/RMB rate moves above 7.

This is seen as a countermeasure by China to offset the effect of the tariff.

Market feared and drop sharply on Monday, and recovered on Tuesday when China officially made mid-point below 7.

Although it eventually went above 7 by the end of the week, market had largely recovered.

Last week pick updates

Our Pick for 5th August 2019

  1. XYL, short

 

XYL, is a quick win within the same day.

 

Market Updates

Currently, market is seeking direction. The most market mover is now in contradicting mode. Earnings had been good, but trade war is a big concern. Trade deal is unlikely to be achieved within a short period.

We are not confident with the current trend, it is very unclear.

Our pick for 12th  August 2019

  1. MOMO, long (high-risk pick)

For those who are interested to join our daily comment and pick recommendation, pls like our facebook page to get more info.

 

 

Till next week,

Happy trading

 

Leave a Reply

Your email address will not be published. Required fields are marked *