Google is working to avoid tariffs, President Trump plans to talk trade with President Xi at the G20, & U.S. crude inventories shake up prices.
President Trump says he wants to wait to meet with President Xi at the June 28-29 G20 Summit before deciding whether or not to enact the threatened tariffs. Affects the S&P 500
Google is moving more hardware production out of China to avoid tariffs. Affects Google
The U.S. core inflation has cooled opening the way the Fed to lower the rate. Affects the USD
Crude inventories in the U.S. came in higher than expected, counteracting OPEC+’s reduced production. Affects Brent
American Airlines’ CEO says the Boeing 737 MAX is “highly likely” be flying again in August. Affects Boeing
The Australian Employment Change for May will be released, with a predicted 16.0K newly employed. This could impact the AUD.
The Swedish National Bank Interest Rate Decision will be released. It is expected to remain at -0.75%. Likely to influence the CHF.
After the release of crude inventories in the U.S., the price of oil continued trending down.
The 1D TF shows a Three Black Crows pattern, indicating a strong downtrend.
This pair’s 1H TF has shown a Three Black Crows pattern after testing its resistance level, it may test that level again.
Its 4H TF has shown a Bearish Engulfing signal indicating it will likely continue its downward trend.