Prime Minister Theresa May has agreed to step down in June, after trying to pass her Brexit resolution through parliament one last time. Though her deal is not likely to have any better footing at this point, calls for her to step down have finally taken hold. The pound dropped with fears of greater turmoil: around what has already been an arduous separation process, with elections and the potential of a hardline Brexit backer taking taking office.
President Trump signed an executive order that is expected to limit the sale of Huawei goods in the U.S. Investors felt uneasy with this move as the trade war continues to ramp-up, though both countries claim they are looking to end the situation. China’s reaction will have a definite influence on future trade talks.
Walmart says President Trump’s tariffs will be passed to consumers in most cases. With slowing retail data his trade war tariffs could be the straw that broke the economy. Companies have been churning out great numbers all year, but now that there has been a massive levy on goods coming from the U.S.’s biggest trading partner the nation may feel the squeeze.
Times in GMT
EUR CPI (YoY) (Apr)
Predicted: 1.7% Previous: 1.7%
This commodity’s 1D TF has shown a Three Black Crows pattern indicating a continuation of its downtrend.
This French index’s 1D TF has shown a Three White Knight pattern signaling a return to its previous uptrend.