Germany’s SPD has decisions to make, Oil has stopped slipping, & Azerbaijan say no to Boeing
Azerbaijan Airline has canceled a $1 billion deal with Boeing over safety concerns. Affects Boeing
Germany’s Social Democrats discussed ditching their coalition with Angela Merkel and appointing three caretaker leaders after Andrea Nahles resigned. Affects the EUR
Mexico is working to reach a deal with the U.S. before tariffs aimed to stop migration are put in place. Affects MXN
Oil saw an end to its slide after Saudi Arabia announced a plan to continue OPEC+’s decreased output to avoid surplus. Affects Brent
Italy’s PM Guiseppe Conte calls for the two coalition parties to put aside their differences and govern, or he will resign. Affects the EUR
The British Construction PMI for May will be released. This will likely affect the GBP.
The EU’s CPI (YoY) for May will be published. The EUR could be affected by an increase or decrease.
Fed Chair Powell will Speak. The USD could be affected depending on the allusions toward rate changes.
The trade conflict between the U.S. and India may exacerbate tensions throughout the global financial market. Traders are waiting for India’s reaction to its exclusion from the GSP, which allowed India to export some goods to the U.S. without tariffs.
Variables around the world including Washington’s trade wars with China and Mexico may push this index to break its support level at 2732 and fall to 2700.
Its recent pump will finish when it reaches the psychological resistance level at 10.
The daily chart for EUR/USD shows that the currency pair may fall because its price is near the resistance level.
EUR/USD on this day in history
- Since 2000, June 4th has been a trading day 13 times.
- On 53% of those days, the asset ended its growth.
- The maximum reinforcement range was 0.51%.
- The downtrend was limited to 1.47%.