The trade war between China and the U.S. rages on. Though negotiations started yesterday, political posturing did not reassure investors. “If tariffs are increased at 12:01 a.m. Friday, the decline in risk assets is likely to intensify,” said Dennis DeBusschere, head of portfolio strategy at Evercore ISI. Beijing has warned it will retaliate should the U.S. hike tariffs as advertised on Friday. Volatility is likely to hit both markets.
Oil dropped slightly on news of Saudi deals with Asian countries. Countries who heavily depend on oil price to determine the value of their currency may see a drop as sanctions continue to be levied on countries purchasing oil from Iran.
VW’s electric car orders may pull Germany’s economy back up. Though deliveries do not begin until next year, this may be the welcomed push in the euro-zone that turns the tide. This could lead to a positive trend for the Euro.
Times are in GMT
GBP GDP (MoM)
Predicted: 0.0% Previous: 0.2%
GBP GDP (QoQ) (Q1)
Predicted: 0.5% Previous: 0.2%
GBP GDP (YoY) (Q1)
Predicted: 1.8% Previous: 1.4%
GBP Manufacturing Production (MoM) (Mar)
Predicted: 0.1% Previous: 0.9%
GBP Monthly GDP 3M/3M Change
USD Core CPI (MoM) (Apr)
Predicted: 0.2% Previous: 0.1%
CAD Employment Change (Apr)
Predicted: 10.0K Previous: -7.2K
This U.S. small-cap index’s 1D TF has shown a Three Black Crows signal indicating a reversal to a downtrend.
This pair’s 1D chart has shown a Three Outside Down pattern predicting a continuation of the downtrend.