Switzerland may lose access to EU stock markets, the Fed is unlikely to lower interest rates & Italy will be punished for its growing debt.
The Fed is reluctant to lower the interest rate due to the instability of trade relationships. Affects the USD
The EU’s chief executives have told Switzerland to sign a new partnership treaty by June 18 or the country could be cut from the bloc’s trading markets. Affects the CHF
The EU states disciplinary action for Italy’s growing national debt – most likely financial penalties. Affects the EUR
Bank of England policymakers reiterated the downside risks to the U.K. economy from Brexit and global trade tensions, though interest rates could still rise. Affects GBP
Uncertainty around the next PM of the U.K. has investors and companies uncertain of the future. Affects GBP
The ECB President Draghi Speaks about the bank’s upcoming plans. Affects the EUR.
The U.S. Core CPI (MoM) for May will be released. The expected reported result is 0.2% up from the previous 0.1%. Affects the USD.
The U.S. Crude Oil Inventories report will be published. Stores are expected to have fallen to -0.472M from 6.771M.
With all that is constantly in the news around these two currencies, as well as speeches and rate decisions on the horizon volatility will continue.
On its 4 TF, a Three Black Crows pattern has appeared, meaning a likely shift to a downtrend.
This French index’s 1H TF has shown a Three Outside Down pattern indicating a downturn.
The precious metal’s 4H TF has shown a Three Inside Up pattern signaling a possible return to the up previous uptrend.