Jiming Huang / Profile

Pivot (invalidation): 1.2200 Our preference Long positions above 1.2200 with targets at 1.2240 & 1.2270 in extension. Alternative scenario...

Pivot (invalidation): 1.0970 Our preference Long positions above 1.0970 with targets at 1.1000 & 1.1015 in extension. Alternative scenario...

We set out our longer-term outlook for US-China trade relations applicable up to the November 2020 presidential election in our latest Global Risk Radar publication. Our base case, to which we assign a 50% probability, is for only modest progress in this round of talks...

Recent developments have put market participants in a difficult situation, wavering whether the US-China trade war as well as current geopolitical headlines or the publication of Fed minutes in a context of weakening economic activity should prevail...

Pivot (invalidation): 52.80 Our preference Short positions below 52.80 with targets at 52.15 & 51.80 in extension. Alternative scenario...

Pivot (invalidation): 17.6100 Our preference Long positions above 17.6100 with targets at 17.8500 & 18.0000 in extension. Alternative scenario...

Pivot (invalidation): 1498.00 Our preference Long positions above 1498.00 with targets at 1516.00 & 1519.50 in extension. Alternative scenario...

Pivot (invalidation): 2920.50 Our preference Short positions below 2920.50 with targets at 2878.00 & 2856.00 in extension. Alternative scenario...

Pivot (invalidation): 12055.00 Our preference Short positions below 12055.00 with targets at 11880.00 & 11804.00 in extension. Alternative scenario...

Pivot (invalidation): 5.8150 Our preference Long positions above 5.8150 with targets at 5.8500 & 5.8720 in extension. Alternative scenario...

Pivot (invalidation): 0.6720 Our preference Long positions above 0.6720 with targets at 0.6755 & 0.6765 in extension. Alternative scenario...

Pivot (invalidation): 1.3335 Our preference Short positions below 1.3335 with targets at 1.3300 & 1.3285 in extension. Alternative scenario...

Pivot (invalidation): 0.9950 Our preference Short positions below 0.9950 with targets at 0.9915 & 0.9900 in extension. Alternative scenario...

Pivot (invalidation): 106.95 Our preference Long positions above 106.95 with targets at 107.30 & 107.45 in extension. Alternative scenario...

Pivot (invalidation): 1.2240 Our preference Short positions below 1.2240 with targets at 1.2195 & 1.2180 in extension. Alternative scenario...

Pivot (invalidation): 1.0950 Our preference Long positions above 1.0950 with targets at 1.0975 & 1.0985 in extension. Alternative scenario...

Our base case is for only modest progress, and given the recent deterioration in economic data, we retain a tactical underweight position in equities while awaiting the result, preferring carry strategies...

The lull of the Turkish lira over the last four months following the G20 summit is likely to break as the country is in the spotlight...

Pivot (invalidation): 53.35 Our preference Short positions below 53.35 with targets at 52.55 & 52.20 in extension. Alternative scenario...

Pivot (invalidation): 17.5000 Our preference Short positions below 17.5000 with targets at 17.2700 & 17.1700 in extension. Alternative scenario...