Three Things Dominating Forex Markets| KOL Forex Analysis•Jasper Lo

First of all, will technology stocks continue correcting？ The Nasdaq composite has remained in correction since hitting a record high on September 2. As of September 11, the index has retraced by over 10% from its highs. The reason for the sustained decline is rumored to be Masayoshi Son, the richest person in Japan, whos position was squeezed after trading options. Whether or not the statement is right, it is normal for Nasdaq to see correction when accumulating large gains. Therefore, the correction is expected to continue until finding its initial support at 10,180. In this case, the U.S. dollar index may keep climbing this week.

Secondly, the British Parliament conducted the second reading debate on Johnson's Internal Market Bill on September 14. The bill may put the UK in the risk of no-deal Brexit, spurring more selling of the pound. I hold a pessimistic view that the UK is probably to stage a hard Brexit. This is mainly because the country's breach of the agreement, through which it hopes to force the EU to make concessions, will instead push the EU to fight every inch of the way. As the EU has declared it would accuse the UK of violating international law, the two parties can hardly reach a consensus in the face of such differences and trends. The dilemma is difficult to resolve unless Conservative MPs of the British Parliament dramatically change their sides, thus the pound is almost certain to see a deep loss.

The third thing is the leadership election of the Liberal Democratic Party of Japan on September 14. Unless something unexpected happens, Yoshihide Suga is set to win the election and the Abenomics policy will be maintained, not surprisingly, as he repeatedly stressed. One key unknown is whether Suga will call a snap general election soon after taking office, which will thrust the country on a knife-edge, hampering Japanese stocks. In this case, the Japanese yen has a chance to grow along with the good news that the US stocks seem to perform enduring consolidation. Eyes should also turn to the rate decision of the Bank of Japan on September 17, so as to see whether the Bank will greet the new prime minister with further quantitative easing, which is possible but not probable from my point of view.

Generally speaking, this week's yen and dollar index are expected to gain more upside momentum while almost all the markets are holding a bearish view on the pound.

[About The Author]

Since 1987, Jasper Lo has been engaged in the financial industry

(forex, futures and gold) for more than 32 years and holds forex R.O.,

securities and futures broker licenses. Mr Lo is an expert in trading

forex, precious metals and commodity futures and an basic and technical

analyst.

Over the years, Mr Lo won many individual and team sales champion

awards, as well as outstanding employee awards. He was invited, as a

guest mentor, to the University of Hong Kong, Guangdong Ocean University

and Guangzhou Jinan University. And he was also appointed as the chief

training consultant by Hantang Securities and Dongguan Securities in

China.

Mr Los experience as guest of honor invited by media including Chinese and English newspapers and columnist:

-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch

-Guest of honor invited by Now Finance Channel - Forex Reports

-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities

-Guest of honor invited by ViuTV - Investor Smarter Group

-Columnist of Finance and Forex Market of Ming Pao

-Presenter of Finance and Forex Forecast of Ming Pao

-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance

-Appointed lecturer of Ming Pao Investment Seminar and Paid Course

-Author of the best seller Investment 36 Stratagem

-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net

-Guest of honor of Open Good Morning of ET Net

-Guest of honor of Metro Finance Channel - Market Opening, Instant

Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market

Analysis

-Guest of honor of New Era of Investment of RTHK

-Columnist of Capital Commodities of Capital Weekly

-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond

-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture

-Guest presenter of Weekly Investment in the World of Enrich Culture

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