{"id":155967,"date":"2019-09-23T09:30:42","date_gmt":"2019-09-23T13:30:42","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=155967"},"modified":"2019-09-23T09:05:09","modified_gmt":"2019-09-23T13:05:09","slug":"china-cuts-talks-short-us-equities-ease","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/china-cuts-talks-short-us-equities-ease\/","title":{"rendered":"China Cuts Talks Short, US Equities Ease"},"content":{"rendered":"
September 23, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

The US-China trade talks remain one of the key factors for the markets.<\/p>\n

By Friday, equity markets closed lower as risk sentiment fell. China said that it was cutting the trade talks\u00a0short, prompting\u00a0President Trump to state that trade talks were not needed until 2020.<\/p>\n

Meanwhile, rising tensions in the Middle East also kept the risk sentiment in check.<\/p>\n

Sterling Eases From Intraday Highs on Brexit Optimism<\/strong><\/h2>\n

The pound sterling advanced to a two-month high intraday on Friday before pulling back. The knee-jerk reaction came as traders repriced the Brexit talks. Remarks by EU President Jean-Claude Juncker about a quick Brexit deal before October 31st saw the markets reacting strongly. But a lack of any follow-through or supportive remarks from Brussels saw the GBPUSD easing back to close lower on the day.<\/p>\n

GBPUSD Could Correct Lower<\/strong><\/h3>\n

Following the rally to the resistance area of 1.2533 and 1.2511, the currency pair pushed lower. This saw prices falling out of the ascending wedge pattern. The near-term outlook for GBPUSD remains to the downside. The weekly chart shows prices closing with a doji. This indicates a possible move to the downside if we see a lower close on the daily chart. The support area of 1.2370 will be the ideal price area to which the GBPUSD will correct.<\/p>

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\"GBPUSD\"<\/a><\/p>\n

US Deploys Forces to the Middle East<\/strong><\/h2>\n

Late Friday, the US administration said that it was deploying forces to the Middle East. This comes in response to what the US believes was an attack from Iran on Saudi oil fields. While the Saudi Arabia officials have remained muted,\u00a0the US maintains that Iran was responsible for the attack.<\/a><\/p>\n

WTI Crude Oil Could See Another Volatile Week<\/strong><\/h3>\n

Crude oil prices erased the gains logged from earlier in the week by Friday\u2019s close. However, the gap remains to be filled. The support level of 57.50 will be likely tested in the near term. But there is scope for price to bounce back higher. In the near term, crude oil prices could remain range-bound but below the $60.00 handle.<\/p>\n

\"wti\"<\/a><\/p>\n

Gold Snaps 3-week Losing Streak<\/strong><\/h2>\n

Gold prices closed the week on a bullish note, snapping three consecutive declines. Price action turned bullish on Friday as risk sentiment rose back into the markets. However, given the current narrative, we could expect to see some volatility. A number of Fed officials are due to speak over the week, which will keep gold prices on the move.<\/p>\n

Will XAUUSD Breakout Higher?<\/strong><\/h3>\n

XAUUSD has been trading sideways<\/a>\u00a0within the range of 1508 and 1485 level for nearly two weeks. Friday\u2019s breakout above the 1508 handle could trigger some near-term gains. But considering that we are watching for a lower high to be formed, there is a good chance that the current breakout will soon fizzle out.<\/p>\n

\"XAUUSD\"<\/a><\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex The US-China trade talks remain one of the key factors for the markets. By Friday, equity markets closed lower as risk sentiment fell. China said that it was cutting the trade talks\u00a0short, prompting\u00a0President Trump to state that trade talks were not needed until 2020. Meanwhile, rising tensions in the Middle East also kept […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-155967","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=155967"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155967\/revisions"}],"predecessor-version":[{"id":155976,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155967\/revisions\/155976"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=155967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=155967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=155967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}