IronFX Daily Market Outlook by Peter Iosif | 24/09/18

China halts trade talks with the US • According to media, China has canceled the trade negotiations with the US, which were about to start this week. • Main reasons cited were the new round of tariffs as well as a US decision to sanction a Chinese military agency. • China seems to have summoned the US ambassador in Beijing and postponed military talks in protest. • Differences between the two sides seem to be wide on key issues, hence further escalation is possible. • USD/JPY dropped briefly on the news however corrected later on and should there be further escalation we could see volatility rising. GBP drops on Brexit fears • The pound dropped heavily on Friday, as Brexit fears intensified after EU leaders rejected UK’s plan for Brexit. • UK’s PM Theresa May stated, that the EU must supply an alternative Brexit proposal as negotiations have reached a dead end. • She also stated that EU leaders have rejected her plan without a clear and full explanation. • EU leaders stated that Theresa May needed to retreat from her positions on trade and arrangements for the Irish border. • Tough talks could be expected from both sides, as the Brexit date draws near and should there be further negative headlines about Brexit, we could see the pound weakening further. Join us for more technical and fundamental analysis: http://bit.ly/176O18w To get the latest Forex trading news you should: • Download the IronFX Research app: http://goo.gl/jhQIxO • Like us on Facebook: https://www.facebook.com/IronFX • Follow us on Instagram: https://www.instagram.com/ironfx • Follow us on LinkedIn: https://goo.gl/wSEbPN  • Follow us on Twitter: https://twitter.com/IronFXGlobal • Circle us on Google+: https://www.google.com/+Ironfxglobal • Subscribe to our Channel: http://bit.ly/1foFmCU