US President Trump aides say he isn’t ordering US companies out of China – WSJ

The Wall Street Journal (WSJ) reports the weekend’s comments by the US President Trump’s top Economic Adviser Kudlow and Treasury Secretary Mnuchin, as they clarified on Trump’s Friday’s tweet, ordering ordered US companies to look for alternatives to China after China said it would add more tariffs to US imports.
Kudlow said that Trump has no intent to invoke emergency powers and force companies to relocate operations from China.
Mnuchin noted that Trump wants US firms to start looking beyond China while adding that US President’s reference to the Fed Chair Powell as enemy not 'literal'.
China’s President Xi has become an enemy on trade issues, Mnuchin said.
The softer tones by the US officials on the trade issue combined with the Chinese Vice-Premier Liu's conciliatory remarks will likely help ease some nerves in Asia, as the risk-off trades appear to have eased off a bit.

AUD/USD Technical Analysis: Deeper Drop Seen After Consolidation

AUD/USD TECHNICAL OUTLOOK: BEARISH

• Australian Dollar idling near 2019 low against US counterpart
• Long-term chart setup flags room for substantially deeper drop
• Invalidation point for near-term bearish bias now above 0.70

Get help building confidence in your AUD/USD strategy with our free trading guide!

The Australian Dollar continues to idle above support marked by the 2019 swing low at 0.6827 as traders struggle to establish conviction. A break downward confirmed on a daily closing basis initially opens the door to challenge the August 7 swing low at 0.6677.

Resistance stands in the 0.6827-65 area, a former support shelf. A turn back above that faces a minor barrier at 0.6911, the July 10 low. Neutralizing the broadly bearish bias in overall positioning probably requires a close above trend resistance set from December 2018, now at 0.7033.

Zooming out to the monthly chart for a bit of perspective is a useful exercise amid choppy near-term price action. Here we see prices have breached the bounds of an 18-year rising trend as well as a support block capping downside progress since September 2015.

The implications appear to be quite dire. Not only has the structural trend seemingly shifted to point downward, but the next layer of significant support looks to be some ways away, starting at 0.6352. That speaks to space for a further depreciation in excess of 6 percent in the months ahead.

For Trading Signals, Loss Recovery, Account Management and Learning
Fill Our Contact Form:- https://forms.gle/DMP6QR9gsWbLEoqV9
Telegram:- http://t.me/DavinoValesco