Foreign firms in China feel the pain, reserve official see risk in trade wars, & U.S. crude reserves tanked prices.
News
Foreign firms in China are feeling the impact of trade war tensions, while the NDCR vowed to protect foreign owned business. Affects Gold
Dallas Federal Reserve President Robert Kaplan said that risks to a downside in the U.S. economy have risen with recent trade tensions, and it was too soon to make any judgment on a rate cut call and that he would be patient. Affects the USD
Google and Facebook are being investigated on grounds of antitrust laws around the digital advertising space they essentially control. Affects Google and Facebook
The fewest number of jobs were added this past month in the U.S. far below economists predictions. Affects the USD
A surge in U.S. crude reserves led to a large slide in oil prices. Affects Brent
Calendar
11:45 GMT
The ECB Interest Rate Decision will be released. This decision will affect the EUR.
12:30 GMT
The ECB Press Conference will take place. His statements could affect the EUR.
14:00 GMT
Canada’s Ivey PMI will be made public. The report could affect the CAD.
Technical analysis
USD/MXN
Washington’s problem with the flow of migrants from Latin American countries through Mexico has led to a promise of a tariff starting June 10th. Trump is ready to increase the duty on Mexican goods by 5%. However, the increase in peso volatility is great for traders.
The candlestick pattern Dark Cloud Cover appeared on the pair’s chart. It indicates a likely bearish trend.
Gold
Gold may go down after encountering its resistance level at 1340. The asset may go from 1340 to 1315.
EUR/GBP
EUR/GBP can grow along with the trend’s upward sloping support level.
EUR/GBP on this day in history
- Since 2000, June 06th has been a trading day 15 times.
- On 66% of cases on this day the asset ended with growth.
- The maximum reinforcement range was 0,79%.
- The downtrend was limited to 1,33%.