Greece has a new prime minister who swore to create jobs, Brazil’s economic forecast has been amended again, & Iran has threatened to continue increasing its uranium stores.
Conservative politician Kyriakos Mitsotakis was sworn in as Greece’s new prime minister after charging to victory on a pledge to create jobs and attract investment to the economically stricken nation. Affects the EUR
Ali Babacan said he was resigning from President Tayyip Erdogan’s AK Party over “deep differences” with the party’s direction and hinted at plans to launch a rival political party this year along with former president Abdullah Gul. Affects the TRY
Brazil’s 2019 forecast has been changed for the 19th consecutive week, while other metrics are showing stabilization on the horizon. Affects the ETF MSCI Brazil
Iran threatened to restart deactivated centrifuges and ramp up its enrichment of uranium to 20 percent purity as its next potential big moves away from a 2015 nuclear agreement abandoned by Washington last year. Affects Gold
A second Turkish ship planning to drill for oil and gas off Cyprus arrived off the Mediterranean island’s northeastern coast triggering a strong protest of this infringement by Turkey of its sovereign rights. Affect the TRY
The U.S. Fed Chair Powell will speak. His speech will give an idea of the Fed’s plan for the future and will likely affect the dollar.
The U.S. JOLTs Job Openings for May will be released.Job openings are an indicator of the strength of the job market and the economy as a whole. Affects the USD.
There are several negative factors impacting the Turkish lira. First, the dismissal of the head of the Central Bank signals an early reduction in the interest rate. Second, Erdogan’s former colleagues have begun to speak out against him.
The pair’s chart broke through its resistance level. The nearest technical goals are 5.80 and 5.90.
We expect the implementation of the trend to continue up away from the support level.
This asset has a strong resistance level near 0.76250. There is a high probability of reversal around this value.
CAD/CHF on this day
- Since 2000, July 7th has been a trading day 13 times.
- On 61% of those days, the asset finished with growth.
- The maximum reinforcement range was 1.76%.
- The downtrend was limited to 1.38%.