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Analytics, Daily Review

News, Trends, & Analytics 07.06.2019

In the U.S. strong unemployment numbers mean a strong job market

Presidents Macron and Trump agree new action must be taken with Iran, Oil supply may be shrinking again, & The U.S. had strong unemployment numbers.

 

News

French President Macron sides with President Trump in searching for a new deal to hinder nuclear research in Iran and therefore release the sanctions. Affects Brent


Canada’s rising exports and falling imports helped shrink the trade deficit in April, in the latest sign the economy is recovering from a slowdown. Affects the CAD


President Trump stated he will be making a decision on his threat of tariffs on $300 billion of Chinese goods until after the G20 summit later this month. Affects the S&P 500


Strong unemployment numbers and a decreasing trade gap are not both good for the US. Affects the S&P 500


There is a decrease in the quality of oil being produced in the Permian basin, with its product being no good for crude or gas. Affects Brent

 

Calendar

15:30

The U.S. Nonfarm Payrolls for May will be published. The results are expected to come in at 185K below the previous 263K. The USD will be affected.


15:30

Canada’s Employment Change report for May will be released. The anticipated change is 8.0K. The CAD will be affected.

 

Technical Analysis

EUR/USD

EUR/USD moved to 1,13000. It is currently around its level of resistance, therefore the trend may reverse.

With the strong unemployment numbers from the U.S., the USD could benefit sending the pair down.

ETH

Ethereum is staying near its upward support line. We think that this asset can continue its bullish trend.

Russel 2000

Russel 2000 showed the reversal pattern Double Top. This asset may go down.

 

EUR/GBP on this day in history

  • Since 2000, June 07th has been a trading day 13 times.
  • In 53% of cases on this day the asset ended the grown.
  • The maximum reinforcement range was 0.78%.
  • Trend down was limited to 0.55%.

 

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