OPEC, Russia prepared to raise oil output under U.S. pressure – oil will go under pressure and USD will rise.
Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, while OPEC’s chief said a complaint from U.S. President Donald Trump over high prices had triggered the idea of upping output. Read More @ https://www.reuters.com/article/us-oil-opec-exclusive/exclusive-opec-russia-discuss-raising-oil-output-by-about-1-million-barrels-per-day-sources-idUSKCN1IQ0Q6
Sweden’s Krona Soars as Debt Office Bets Against the Riksbank – Cracking of the EURO is back.
The Swedish Debt Office has an odd way of saying happy birthday.
Just as the central bank was hosting a conference to celebrate its 350th anniversary, the debt agency triggered a rally in the krona. The office said it will position for a stronger exchange rate, inserting itself into a debate over whether the Riksbank has been damaging Sweden’s economy with its efforts to weaken the currency.
The central bank has embarked on an historic monetary easing program over the past years to bring back inflation, using a weaker krona to help achieve its goal. But criticism has grown recently as the currency fell close to a record low against the euro, even causing some policy makers to question whether they’d gone too far. Read More @ https://www.bloombergquint.com/global-economics/2018/05/25/swedish-debt-office-steps-into-the-fray-to-place-bets-on-krona
Italy president under pressure to accept eurosceptic minister – EXPECT GAP DOWN FOR EURO.
Italy’s would-be coalition parties turned up the pressure on President Sergio Mattarella on Saturday to endorse their eurosceptic pick as economy minister, saying the only other option may be a new election. Read More @ https://www.reuters.com/article/us-italy-politics/italy-president-under-pressure-to-accept-eurosceptic-minister-idUSKCN1IR0QZ
WHAT ARE THE DAILY TECHNICAL CHARTS SAYING?
High Risk Investment Warning:
Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.