The U.S.’s sanctions upon countries importing Iranian oil are meeting some push back. France and some of its European allies have pledged to help ensure Iran continues to receive some economic benefit while it abides by the terms of the Iran nuclear accord. With soaring oil prices, this move may destabilize the recent jump.
Stocks and the dollar grew in the U.S. largely thanks to a boom in the energy sector after White House sanctions on Iranian oil importer hit the news. Buoyed by black gold and its purchasing relationship the dollar reached a six-week high.
The pound dropped yesterday amid further challenges to Theresa May’s leadership. The PM still wants to push through a Brexit plan before EU elections. A vote could come as soon as next week.
Times in GMT
AUD CPI (QoQ) (Q1)
Predicted: 0.2% Previous: 0.5%
EUR German Ifo Business Climate Index
Predicted: 99.9 Previous: 99.6
CAD BoC Monetary Policy Report
CAD BoC Interest Rate Decision
Predicted: 1.75% Previous: 1.75%
USD Crude Oil Inventories
Predicted: -0.167M Previous: -1.396M
CAD BOC Press Conference
This index’s 1D chart has shown a Bullish Engulfing signal indicating a continuation of the upward trend.
This precious metal’s 1D chart has shown a Three Inside Down pattern signaling a likelihood of a downtrend.