<ul><li>Prior +0.2%</li><li>Market index 273.3 vs 279.8 prior</li><li>Purchase index 203.8 vs 205.4 prior</li><li>Refinancing index 627.1 vs 662.9 prior</li><li>30-year mortgage rate 5.45% vs 5.47%</li></ul><p style=““ class=“text-align-justify“>It’s quite remarkable that what the data is saying and what markets are deciphering is totally different from the narrative that is being put out by the housing industry. Adam put it nicely in a post yesterday <a target=“_blank“ href=“https://www.forexlive.com/news/the-divergence-of-opinion-on-us-housing-between-markets-and-industry-is-180-degrees-20220816/“ target=“_blank“>here</a>. The readings above continue to show a collapse in mortgage activity as both purchases and refinancing continue to decline sharply.</p>

This article was written by Justin Low at www.forexlive.com.

<p class=“MsoNormal text-align-start“>Impeccably organized by Ultimate Fintech, iFX EXPO gathers more traction with every edition. Held annually since 2012 in financial hubs across Europe, Asia, and the Middle East, it is the largest financial B2B exhibition and a hot spot for thought-provoking debate. The upcoming edition, <a target=“_blank“ href=“https://bangkok2022.ifxexpo.com/“ target=“_blank“>iFX EXPO Asia</a>, will take place between 13 and 15 September 2022 at Centara Grand & Bangkok Convention Centre at CentralWorld and is set to be the largest so far.</p><p class=“MsoNormal“>The organizers are planning 2+ days of unparallel networking with industry leaders and decision makers that are coming to Bangkok from all over the world. The event is not only the ultimate destination for financial industry leaders to network and showcase their products, services and brands, but it also exceeds expectations with its exclusive parties. They allow attendees to catch up with existing and potential partners in an informal setting. </p><p class=“MsoNormal text-align-start“>The agenda is filled with insightful topics and renowned experts. Keynotes include high-calibre speakers from market-leading companies in the forex and fintech space, such as Finnovation Labs, Equity Group, Finalto Asia, one-Zero, ATFX Southeast Asia, Brokeree Solutions, and others. To find out more information on the topics and keynotes, view the <a target=“_blank“ href=“https://bangkok2022.ifxexpo.com/discuss/“ target=“_blank“>Agenda</a>. </p><p class=“MsoNormal text-align-start“>Zulu Trade tops the event’s impressive list of sponsors as the Official Global Partner, followed by numerous other forward-thinking brands, including ATFX, AximTrade, Finalto, TMGM, B2Broker, Equity Capital, and B2BinPay, to only name a few. An impressive list of proud sponsors and exhibitors of iFX EXPO Asia 2022 can be explored on the <a target=“_blank“ href=“https://bangkok2022.ifxexpo.com/meet/#sponsors“ target=“_blank“>official website</a>.</p><p class=“MsoNormal text-align-start“>Who Will Attend?</p><p class=“MsoNormal“>iFX EXPO Asia is a perfect place for global fintech collaboration. The event brings together top-level executives from most prominent international companies. Attendees include:</p><p class=“MsoListParagraph“>· Technology & Service Providers</p><p class=“MsoListParagraph“>· Digital Assets & Blockchain </p><p class=“MsoListParagraph“>· Retail & Institutional Brokers</p><p class=“MsoListParagraph“>· Payments, Banks & Liquidity Providers</p><p class=“MsoListParagraph“>· Affiliates & IBs</p><p class=“MsoListParagraph“>· Regulation & Compliance</p><p class=“MsoListParagraph text-align-start vertical-align-baseline“>Register Now and Benefit from the Free Pass </p><p class=“MsoNormal text-align-start“>You can register now to get your Free Pass for iFX EXPO Asia 2022 following the registration <a target=“_blank“ href=“https://bangkok2022.ifxexpo.com/register/“ target=“_blank“>link</a>.</p><p class=“MsoNormal“>The Pass grants unrestricted access to 2+ days of unlimited networking opportunities, including free admission to the Speaker Hall and Idea Hub, Sponsored Food & Beverages Areas, and the exclusive Welcome and Night Party events.</p><p class=“MsoNormal text-align-start“>Take Advantage of an Exclusive Accommodation Offer</p><p class=“MsoNormal text-align-start“>Centara Grand at CentralWorld has been selected as the official accommodation provider for iFX EXPO Asia 2022, offering exclusive rates for all event delegates between 10and 17September. To benefit from the special offer, book your stay <a target=“_blank“ href=“https://www.centarahotelsresorts.com/centaragrand/cgcw/ifx-expo-asia-2022?abcd“ target=“_blank“>here</a> in advance.</p><p class=“MsoNormal“>There is less than a month to go until the show, so don’t miss out and Register NOW!</p>

This article was written by ForexLive at www.forexlive.com.

<p style=““ class=“text-align-justify“>The simplified take on the oil market now is that the bulls have gotten less bullish amid the recent price action but are staying firm that the fundamental outlook for prices is that it favours a move higher, <a target=“_blank“ href=“https://www.forexlive.com/news/the-data-thats-driving-the-rout-in-oil-prices-is-barely-believable-20220804/“ target=“_blank“>despite what the data might say</a>. But as much as the optimism is retained, the technicals are something that should not be ignored either.</p><p style=““ class=“text-align-justify“>The drop in oil back below $95 and more crucially its 200-day moving average (blue line) has been a major blow to the bullish sentiment that has prevailed since the end of last year.</p><p style=““ class=“text-align-justify“>Right now, the critical level to watch is the $88 mark as buyers are hanging on in there close to the 61.8 Fib retracement level at $88.04. That remains the key support level to eye on the daily chart. If buyers can convince of a push back above $95 or the 200-day moving average, then there is scope for a further rebound towards $100 next. However, break below $88 and we could see a quick fall back towards $80 next.</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>The dollar is in charge once again in trading today as traders continue to weigh up recession risks and the Fed outlook in general. The latter was in focus last week amid the slightly softer US CPI data but we have seen the reaction completely faded now as the greenback takes charge again.</p><p style=““ class=“text-align-justify“>As is the case, it seems like the bond market is right once again and FX is following suit as such. The dollar has completed a round lap against the euro in a drop from its 61.8 Fib retracement level at 1.0361 to 1.0130 currently. The latest retreat is a massive blow for the euro as it targeted a breakout, and it exemplifies how bad sentiment is for the single currency.</p><p style=““ class=“text-align-justify“>It’s tough to find any reason whatsoever to like the euro as the economic outlook remains rather dire. At this stage, the ECB has still only delivered a 50 bps rate hike and already it seems like their window to deliver another is closing.</p><p style=““ class=“text-align-justify“>The euro area economy looks to have deteriorated sharply in July and with a looming energy crisis set to befall the region in the winter months, it’s hard to be optimistic towards the end of the year.</p><p style=““ class=“text-align-justify“>Looking at EUR/USD, the next key level to watch will be the short-term support near 1.0100 and if that gives way, parity beckons once more for the pair. And this time, it may not be just a flash in the pan drop below the key psychological level.</p>

This article was written by Justin Low at www.forexlive.com.

<ul><li>Prior -45.8</li><li>Economic sentiment -55.3</li><li>Prior -53.8</li></ul><p style=““ class=“text-align-justify“>That’s another dismal reading as ZEW notes that they expect a further decline in the already weak economic growth in Germany. Adding that high inflation rates and expected additional costs from higher energy prices are to decrease profit expectations for the private consumption sector.</p>

This article was written by Justin Low at www.forexlive.com.

<ul><li>Investor sentiment remains bearish in August</li><li style=““ class=“text-align-justify“>But no longer „apocalyptically bearish“ on hopes inflation, rates shocks may end in coming quarters</li><li style=““ class=“text-align-justify“>Long USD remains the most crowded trade</li><li style=““ class=“text-align-justify“>Uninvested cash levels drop to 5.7% from 6.1% in July, but „still very high“</li></ul><p style=““ class=“text-align-justify“>Some findings from the latest BofA global fund manager survey for August. Interestingly, most respondents noted that current sentiment is still too bearish for an immediate reversal and that they remain „patient bears“. Besides that, the fact that investors are still staying long the dollar is a testament to overall market sentiment as recession risks are heightened and the Fed pivot is a no go just yet.</p>

This article was written by Justin Low at www.forexlive.com.

<p style=““ class=“text-align-justify“>The dollar is lightly higher on the day and that is helping to keep USD/JPY underpinned but the pair in general tends to see a much wider range than most dollar pairs recently, feeding off some volatility after the drop back below 135.00 at the end of July.</p><p style=““ class=“text-align-justify“>As much as buyers are holding up, there is still a sense of directionless movement in USD/JPY for now. The downside for the pair is limited closer to the 100-day moving average (red line) while topside action is capped by the 135.00 handle. All eyes are on the bond market for what comes next and <a target=“_blank“ href=“https://www.forexlive.com/news/the-bond-market-continues-to-be-a-key-spot-to-watch-in-the-week-ahead-20220815/“ target=“_blank“>there might be more waiting to do in that sense</a>.</p><p style=““ class=“text-align-justify“>Looking ahead, the US retail sales data tomorrow will be one to watch in terms of risk events for this week.</p>

This article was written by Justin Low at www.forexlive.com.

<p>Headlines:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/dismal-china-data-weigh-on-sentiment-to-start-the-day-20220815/“>Dismal China data weigh on sentiment</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/monetary-policy-alone-just-isnt-cutting-it-in-china-20220815/“>Monetary policy alone just isn’t cutting it in China</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/dollar-gains-further-on-the-day-as-risk-appetite-stays-subdued-20220815/“>Dollar gains further as risk appetite stays subdued</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/oil-suffers-another-beating-again-down-over-4-on-the-day-20220815/“>Oil suffers another beating again, down over 4% on the day</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/china-stages-more-drills-around-taiwan-amid-us-lawmakers-visit-20220815/“>China stages more drills around Taiwan amid US lawmakers‘ visit</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/germany-july-wholesale-price-index-04-vs-01-mm-prior-20220815/“>Germany July wholesale price index -0.4% vs +0.1% m/m prior</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/switzerland-july-producer-and-import-prices-01-vs-03-mm-prior-20220815/“>Switzerland July producer and import prices -0.1% vs +0.3% m/m prior</a></li></ul><p style=““ class=“text-align-justify“>Markets:</p><ul><li>JPY leads, NZD lags on the day</li><li>European equities mixed; S&P 500 futures down 0.5%</li><li>US 10-year yields down 2 bps to 2.829%</li><li>Gold down 1.6% to $1,773.03</li><li>WTI crude down 4.9% to $87.62</li><li>Bitcoin down 0.7% to $24,082</li></ul><p style=““ class=“text-align-justify“>The focus to kick start the new week is China, as the latest set of economic releases there disappointed heavily with loan demand crashing hard. That is prompting worries about a major slowdown, which will surely spill over to the global economy.</p><p style=““ class=“text-align-justify“>That saw the aussie and kiwi weighed lower initially in Asia before the selling intensified as the dollar and yen gained on risk aversion during European morning trade. Equities were weighed lower with US futures retreating, though the drop isn’t as notable after the surging rally on Friday. The bond market remains tepid, with yields holding slightly lower as well.</p><p style=““ class=“text-align-justify“>EUR/USD fell from 1.0240 to 1.0190, pretty much erasing its post-CPI advance and GBP/USD is also doing the same in a drop from 1.2120 to 1.2050 during the session. USD/JPY kept steady around 133.20-40 for the most part as both the dollar and yen are holding firmer amid risk flows on the day.</p><p style=““ class=“text-align-justify“>Meanwhile, USD/CAD is seeing a big jump with a push from 1.2785 to 1.2915 amid the more subdued risk mood and also another beatdown in oil. WTI crude saw a 5% drop to below $88 and is holding near the lows for the day currently as oil market sentiment is not helped by the negative headlines from China.</p><p style=““ class=“text-align-justify“>The antipodeans are the biggest losers though, with the aussie and kiwi already softened from the poor data before an extended rally in the dollar (weaker risk sentiment) saw both currencies decline further. AUD/USD saw a drop from 0.7100 to 0.7025 while NZD/USD was hammered down from 0.6430 to 0.6360 during the session.</p><p style=““ class=“text-align-justify“>With little else to work with on the economic calendar and still awaiting key data before reassessing the Fed outlook, it looks like markets are clinging on to risk sentiment as the key driver to start the trading week.</p>

This article was written by Justin Low at www.forexlive.com.

<p class=“MsoNormal“>Individuals <a target=“_blank“ href=“https://vhnx.com/“ target=“_blank“>planning for retirement</a> may feel quite anxious
about the coming years, considering the high inflation and interest rates and
the low consumer confidence.</p><p class=“MsoNormal“>It’s uncertain whether
a recession will occur, although there are some signs that an extended economic
slowdown may happen. Still, retirement will come to just about every people.
Therefore, it’s important to learn as much as we can about navigating and
managing this period in our lives once it takes place.</p><p class=“MsoNormal“>Here are four things
you can do to prepare your investment portfolio for retirement. </p><p class=“MsoNormal“>Combine Similar
Accounts</p><p class=“MsoNormal“>Combining your
similarly taxed accounts and sticking to only one or two financial institutions
helps curb your attention from multiple individual retirement accounts (IRAs)
and 401(k)s. Plus, keeping an eye on and handling your investments and taxes is
easier when you only have a handful of accounts.</p><p class=“MsoNormal“>Merging your accounts
is more than just about getting you organized in retirement.</p><p class=“MsoNormal“>Maintaining multiple
accounts across different institutions could subject you to some considerable
expense funds or additional management costs. And those high, extra costs can
be detrimental to your investment returns, leaving you with less money than you
should have to retire comfortably. </p><p class=“MsoNormal“>Opt For Index Funds</p><p class=“MsoNormal“>Index funds are usually
an excellent choice for a retirement investment portfolio. They are low-cost,
so they help reduce the fees you pay, which in turn increases your long-term returns.</p><p class=“MsoNormal“>Furthermore, index
funds mirror the performance of particular market indexes, making them a
passively-managed investment.</p><p class=“MsoNormal“>That hands-off approach
is a method that you may appreciate in your retirement, as it would allow you
to spend less time monitoring your investments, and more on leisurely or
recreational activities.</p><p class=“MsoNormal“>In choosing ideal funds
to bet on, you can consider ones that follow the S&P 500 index or the
overall bond market.</p><p class=“MsoNormal“>Additionally, taking a
broad look at your portfolio and putting money into diversified index funds may
help you generate profit near the amount of the market’s total return, which is
often higher than what many active investors make.</p><p class=“MsoNormal“>Cut Down on Individual
Stocks</p><p class=“MsoNormal“>Preparing for
retirement signals the time to reassess your individual stock holdings. If
single-stock investments still make up a pretty significant part of your
portfolio, you may need to consider reducing some of those positions.</p><p class=“MsoNormal“>That’s because
idiosyncratic risk is endemic to many individual stocks of companies. You can
minimize this type of risk by focusing on diversifying your investments,
determining a suitable asset allocation, and setting a target amount for
saving.</p><p class=“MsoNormal“>Have Enough Cash</p><p class=“MsoNormal“>Having a sufficient
cash reserve during retirement can be crucial since it can provide the
flexibility you may need in times of emergencies or unexpected expenses.</p><p class=“MsoNormal“>Relying on your stock
positions to pay for your unforeseen expenses is a risky decision in
retirement. On the other hand, keeping an adequate amount of cash during a crisis
can give you financial peace of mind.</p><p class=“MsoNormal“>Instead of opening a
brokerage account, a <a target=“_blank“ href=“https://vhnx.com/signup“ target=“_blank“>high-yield savings
account</a> that you can access anytime would be a better option for storing
your fully liquid funds.</p>

This article was written by ForexLive at www.forexlive.com.

<p style=““ class=“text-align-justify“>The focus in markets so far today has been the terrible set of economic data releases from China earlier in Asia trading. In case you missed it, you can check out Eamonn’s posts earlier here:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/chinas-jobless-rate-for-16-to-24-year-olds-has-hit-its-highest-ever-recorded-20220815/“ target=“_blank“>China’s jobless rate for 16 to 24 year olds has hit its highest ever recorded</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/lack-of-demand-for-loans-in-china-is-bringing-recession-fears-20220815/“ target=“_blank“>Lack of demand for loans in China is bringing recession fears</a></li></ul><p style=““ class=“text-align-justify“>As much as it looks bad, things could very well be much worse beyond the surface. The solution that China has been sticking to mostly in the pandemic recovery is to look towards the PBOC. However, what the data is telling us is that monetary policy alone just isn’t enough to bolster the economy – at least in a meaningful manner.</p><p style=““ class=“text-align-justify“>The rate cuts and liquidity injections look spent at this point and there is no point in that if domestic demand just isn’t there. The collapse in loan demand conditions underscores that sentiment (I mean do rate cuts or borrowing supply mean anything when there isn’t any demand for loans?) and that points to some serious cracks within the foundations of the Chinese economy.</p><p style=““ class=“text-align-justify“>Beyond subsidies and tax cuts, the government needs to do more. There needs to be proper fiscal help to accompany monetary policy, otherwise there isn’t much else that the PBOC can really do.</p><p style=““ class=“text-align-justify“>The stop-start policy by the government with regards to COVID-19 handling is arguably a bigger problem than it is made out to be. Not only is it causing some form of social resonance, it also looks to be simultaneously keeping the economy in a stop-start kind of mood as well. If domestic demand doesn’t improve, that’s a big hole that needs to be filled for both the local and global economy.</p><p style=““ class=“text-align-justify“>And when China sneezes, the rest of the world catches a cold. So, keep that in mind for the outlook everywhere else.</p>

This article was written by Justin Low at www.forexlive.com.