Hong Kong economic data of the latest week were weak. Retail sales fell in July, consumer prices inflation reversed into deflation, balance of trade deficit was bigger than expected, and Hong Kong Private sector performance deteriorated in August. Thus, retail sales fell 23.9% over year in July after 25.3% drop in June. Consumer price index declined 2.3% over year in July after 0.7% growth in June. Balance of trade deficit was H$-29.8 billion after H$-33.3 billion in June when a narrowing to H$-27 billion was forecast. And yesterday Markit reported Hong Kong PMI fell to 44.0 in August from 44.5 a month earlier. Readings below 50 indicate sector contraction. Continuing weakness in economic activity is bearish for HK50.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
| Order | Sell |
| Buy stop | Below 24468.6 |
| Stop loss | Above 25196 |
Market Analysis provided by IFCMarkets.com
By JustMarkets On Thursday, the US stock indices posted strong gains, fully recovering from the…
By Analytical Department RoboForex USD/JPY recovered to 160.60 on Friday following a sharp drop the…
By Patrick J. Schena, Tufts University Creating a government fund to own AI stock and…
By JustMarkets The US equity indices ended Wednesday’s session with notable declines as geopolitical risks…
By Analytical Department RoboForex USD/JPY held near 163.50 on Thursday, with the yen retreating slightly…
By Analytical Department RoboForex GBP/USD continued to consolidate at 1.3283 on Wednesday. The British pound…
This website uses cookies.