Iran is enriching uranium, Mexico will sign USMCA this week, & President Trump holds onto his tariff threats for Mexico.
Mexico’s President López Obrador said he expects the Senate to ratify the USMCA deal this week. Affects MXN
Tensions are rising between the U.S. and Iran, as Tehran has threatened to and has increased enriched uranium production, demanding the return to the previous nuclear deal, and lifting sanctions. Affects Brent
President Trump reaffirmed his intention to levy tariffs on Mexico if they cannot agree to the deal Washington has already signed. Affects the S&P 500
U.S. job openings fell as hiring increased according to the Labor Department’s monthly Job Openings and Labor Turnover Survey. Affects the USD
Companies looking to maintain a working relationship with Washington are adopting its Huawei ban. Affects the S&P 500
The U.K.’s Average Earnings Index +Bonus for April will be released. It is predicted to have grown 2.9%, which is a drop from the previous 3.2%. Affects GBP.
The U.S. Producer Price Index (PPI) Month over Month for May will be published. The inflation price is predicted to decrease to 0.1%, from the previous 0.2%. Affects the USD.
With turmoil in between Iran and the U.S., while OPEC+’s cutbacks have not been enough to curtail U.S. surplus, this commodity’s price is ripe for a correction.
Having flirted with its resistance level around 63.335, and showing a Three Outside down pattern, the downtrend may continue.
This metal’s 4H TF showed an Engulfing Bullish signal after testing its support level and could continue to rise.
The Japanese index’s 1D TF has shown broken its support level that became its resistance level and could continue to rise.