News
Prime Minister Theresa May and her cabinet have agreed to continue cross-party talks with the aim of leaving the EU by July. Though 13 former ministers encouraged May not to talk with Labour. The pound slid in the midst of the continued turmoil.
Revitalized commitment to the trade talks between the U.S. and China calmed traders nerves. President Trump tweeted a few positive messages yesterday that helped cause nerves. Stocks on Wall St. rose yesterday as well did the dollar. These gains seem fragile since they are a reaction to a volatile situation.
Oil prices rose as Saudi Arabia reported drone attacks on its pumping stations. Futures lifted by 1% canceling out Monday’s drop. With this attack following an assault on tankers passing the U.A.E. and production disruptions around the globe concerns over supply are emerging. When supply drops, prices tend to jump.
Spotlight
Times in GMT
02:00
CNY Industrial Production (YoY) (Apr)
Predicted: 6.5% Previous: 8.5%
06:00
EUR German GDP (QoQ) (Q1)
Predicted: 0.4% Previous: 0.0%
12:30
USD Core Retail Sales (MoM) (Apr)
Predicted: 0.7% Previous: 1.2%
USD Retail Sales (MoM) (Apr)
Predicted: 0.2% Previous: 1.6%
CAD Core CPI (MoM) (Apr)
Previous: 0.3%
14:30
USD Crude Oil Inventories
Predicted: -2.125M Previous: -3.963M
Analytics
Brent
This commodity’s 1D TF has shown a Bullish Engulfing signal indicating a likely uptrend.
JPY
This pair’s 1D TF has shown a Harami Cross signal, which may mean the loss of downward momentum resulting in an uptrend.
