Oil prices surged yesterday thanks to the White House’s previous announcement that the waivers it had extended to countries buying oil from Iran would end. Meaning all countries continuing to purchase oil from Iran would have sanctions levied against them. The commodities price hit all-time highs. Asian countries will be affected by this move, as Iran is a large supplier for the region.
U.S. Existing Home Sales numbers were lower than expected for the fourth time in five months. These numbers come despite lower mortgage rates, sustained wage gains and slower home price appreciation. The U.S. economy has struggled to find it’s strength in 2019, and this may give European investors pause when they hit the market today.
Prime Minister Theresa May is still looking to end the Brexit turmoil before European elections. Her push will continue this week, sentiment towards her deal will affect markets.
Times in GMT
USD New Home Sales (Mar)
Predicted: 647K Previous: 667K
This automaker’s 1D chart has shown an Engulfing Bearish signal indicating a likely continuation of the current downtrend.
This commodity’s 1D chart has shown a Three Outside Down pattern indicating a trend reversal downward.