Today, the focus is on the comments of the British Foreign Minister, Trump’s promises, as well as the expectation of OPEC+ results.
Iraq will adhere to the OPEC+ agreement, despite financial difficulties. Affects Brent
The British Foreign Secretary, Dominic Raab, said the Hong Kong National Security Act undermines the principle of “One Country, Two Systems.” Affects GBP
Protests continue in the U.S., and President Trump promises to send troops. Affects USD
Apple has reduced the price of the iPhone in China. Affects Apple
The European Union is not against inviting Russia to participate in the G7. Affects RUB
There will be a report on the change in the number of unemployed in the U.S. non-farm sector from ADP. An increase of 9 million is projected. A deviation lower may affect the USD.
The ISM U.S. Purchasing Managers Index will be published. It is forecast at 44 points. Exceeding the forecast will positively affect the USD.
There will be a report on changes in crude oil reserves in the United States. Growth is projected at 3.3 million barrels. A higher value will lead to a drop in Brent quotes.
The stabilization of the oil market is largely due to the gradual restart of the global economy, as well as the growth of production activity in China. Nevertheless, the focus is on the results of the OPEC + meeting, which will be held on June 4-5. For this reason, traders may prefer caution and begin to close buy transactions.
If Brent quotes break through the psychological level 40, the next target for the bulls will be the upper range of the gap – the level of 45.30.
Fibonacci levels indicate a likely continuation of its upward trend to 1.13000.
The asset has reached a resistance level of 121,400. High probability of a downward correction.
EUR/JPY on this day in history
- Since 2000, June 3rd has been a trading day 13 times.
- On 61% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.61%.
- The downward trend was limited to 0.38%.