August 13 2018 - #vtrade - The Bell Is About To Ring!!!

August 13, 2018 – The Bell Is About To Ring

1)    Turkish Lira – tensions continue

The Turkish Lira is sweeping down due to the supposedly growing influence of its President Erdogan’s over the economy whereby he repeatedly directed towards lowering interest rates to counter the rising inflation and to make matters worse the growing horror of the US tariffs on the country has seen its currency down to as much as 50% in this current year.

It sank to as much as 16% in the last trading session, currently though the Lira is seeing recovery at 6.8654 still about 7.3% down for the day. Possible reasons for the recovery are as the Central Bank of Turkey have decided to provide liquidity by cutting the reserve requirements for Turkish banks. Signing some hope to the currency also from the words of their Finance Minister who mentioned to formulate an economic plan to ease investors’ concerns, the details of which are which are to be waited and watched.

2)    Turkish fear extends to other currencies, markets

While Turkey tries to justify its effort to strengthen their situation, the effects of their Lira seems to have bothered the investors in currencies of South Africa, Mexico, Argentina and Russia which saw a hit, as the investors seemed to have focused their investments to safer havens such as Swiss Franc & Yen and of course the USD.

Other emerging markets were also seen in a negative slid this day, as if is assumed that if the Turkish situation is not brought under control it may glide into other markets sooner.

India Rupee hit a record low against the U.S. Dollar with USD/INR climbing to 69.813

3)    Global Stocks Slide downward

With the Turkish struggle all over, investors look for more safer harbours for their money.

Asian markets saw a downfall in almost all of their sector stocks. The gloomy mood carried to Europe this day with most indices showing a reluctant behavior.

On the Wall street as well, the US Futures looked more or less in red areas before they are ready to start their week in some time.

4)    As we call it an Earning’s Season soon

We have Sysco which will divulge its earnings before the market open.

Equifax who is hosting its investor meeting today, reminds us of the huge data lag which the company is still under pressure from wherein 145.5 million customers personal information such as Tax Id’s Driver’s License data was exposed.

The week to follow will see the likes of Home Depot, Walmart, JC Penny, Cisco, Macy’s, and a few more strongly registered in our day to day life companies, report their earnings.

5)    MARKETS AS OF NOW:

DOW30 Futures	Nasdaq100 Futures	S&P Futures
25291.0	7423.50	2832.75
-40.0 / -0.16%	-3.25 / -0.03%	-4.00 / -0.14%

China - Shanghai	UK – FTSE100	GERMANY - DAX
2785.87	7613.0	12371.5
-9.44 / -0.34%	-39.0 / -0.50%	-42.0 / -0.34%

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