The ECB president Draghi has laid a plan, Progress toward a possible no-deal Brexit continues, & Apple is looking into new producers.
The presidents of China and U.S. will resume negotiations in a G20 meeting this month. Affects the S&P 500
Tensions with OPEC between Saudi Arabia and Iran continue to delay the organizations next meeting and make blatant a rift between the two countries. Affects Brent
ECB president Draghi, set a dovish tone for the banks coming months postponing rate hikes until 2020. Affects the EUR
Apple is considering moving 15%-30% of it’s production in China to Southeast Asia in the face of the continuing trade war. Affects Apple
Brexit campaigner Boris Johnson is one step closer to becoming May’s replacement, and brings the U.K. closer to a possible no-deal exit. Affects GBP
Britain’s Retail Sales (MoM) for May will be published. Predicted to come in at -0.5% this report will affect the GBP.
The BoE Interest Rate Decision for June will be released. Anticipated to remain at 0.75%, this will affect the GBP.
In the U.S. the Philadelphia Fed Manufacturing Index for June is expected to be the reported 10.6 number. Affects USD.
With dovish sentiment shown by the ECB president and an evermore likely pro-Brexit Boris Johnson as the new PM investors may look to a more stable asset like gold sending its price higher.
The 4H TF has shown a Three Inside Up pattern raising prices above its upward trending support line.
The 4H TF has shown a Three Black Crows pattern after this pair tested its resistance level around 5.92710, signaling a strong downtrend.
On the 4H TF a Harami Bearish signal was shown, indicating the strength of the downward resistance line and a downtrend.