Sunday Forex Traders Pre Market Prep Video. 4th August 2019

The S&P 500 closed down 3.1% for the week and safe haven currencies were dominating Thursday and Friday following Donald Trump’s announcement the US would be adding another 10% of tariffs to $300 billion worth of Chinese imports. Friday saw July’s official jobs number meet the markets expectations coming in at 164,000 but was not strong enough to switch the markets focus away from the negative sentiment surrounding the US / China trade war. US wages growth also beat expectations rising 3.2% over the past 12 months. If wages growth is rising, inflation will also rise over time and this would stop the US Federal Reserve from dropping interest rates in coming quarters. However, the uncertainty surrounding the ongoing trade dispute between the US and China could also dampen trader’s appetite to buy the US Dollar as the Fed would be forced to lower the official cash rate if the world’s largest economy contracted.

My advice is to keep your eye on the economic data coming out of the US which at this point is still defying expectations and remains positive.

CNBC reported that a spokesperson for China remarked, “the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war.” She went on to say, “China did not want a trade war with the U.S. but it was not afraid of fighting one.” China will no doubt retaliate with more of its own tariffs on US imports and we should expect an announcement early this week.

Uncertainty surrounded global growth before Trump’s new tariffs and Thursday’s announcement has hit business sentiment for 6 and will continue to drag on markets this week.

If you are not one of my clients and would like to join me for a free live trading and coaching session to learn more about how you can copy my personal trades please click on the link below and register. is a professional trader and successful investor who has a strong focus on education.

He is a regular Sky News Money Channel Guest and one Australia’s most awarded and respected financial experts, and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar.

Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account.

Andrew, a regular key-note speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).

Currently Andrew is living his dream life on the Sunshine Coast with his loving wife and three children.