Don’t Spill Over!

Image of https://unsplash.com/@victoriano

Coins

Last night it hit a $3700 level and if this green bar is form. It will slowly climb up.

What to watch

New tensions between the two countries flared last week after Meng Wanzhou, chief financial officer of China’s tech giant Huawei Technologies was arrested in Vancouver at the request of the United States.

As the dollar wilted, the euro edged up 0.43 percent to $1.1425, even as “yellow vest” anti-government protesters wreaked havoc in Paris during the weekend.

French President Emmanuel Macron will address the country at 2000 Paris time (1900 GMT) on Monday as he seeks to placate the protesters.

In London, Theresa May faces an internal revolt against her Brexit deal ahead of the crucial vote in the parliament on Tuesday. Despite the bleak outlook, May plans to push ahead with the vote while senior lawmakers in her own party piled pressure on her to go back to Brussels and seek a better offer.

A rejection could throw plans for Britain’s exit into turmoil and leave her own political future hanging in the balance.

Against the dollar, the British poundedged up 0.13 percent to $1.2742. Against the euro, it changed hands at 89.65 pence per euro, near its weakest level since late September.

“I’d say a rejection is almost priced in and the focus is on by how much margin she would lose. The chance of May’s government getting toppled increases if there is a large revolt,” said Mitsubishi Trust’s Fukushima.

The Chinese yuan was on the defensive to after weak data pointed to a further cooling in the world’s second-biggest economy.

China’s November exports rose just 5.4 percent from a year earlier, the weakest performance since a contraction in March and well short of the 10 percent forecast in a Reuters poll, adding to evidence that demand is weakening globally.

Import growth was 3 percent, the slowest since October 2016, and a fraction of the 14.5 percent seen in the poll.

The downbeat trade data reinforced views that Chinese authorities will have to roll out more support and stimulus measures soon to stabilize the economy, even if a trade deal with Washington is reached.

The offshore yuan was last at 6.9004 to the dollar.

— CNBC contributed to this report.

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Nothing is going on like I mention last night Asia market will go bearish before the European open.

European market has a reversal signal and may go bull before US Open.

Today US Open will it spill over due to Huawei issue?

The answer might be a ‘NO’.

Tech and others is showing a reversal bull. There might be a surprise this week.

What say you.

Thank you

Tangoh

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