Trump’s Oil Woes Are Investors’ Gain – Correction ahead for OIL.
President Donald Trump started a tug of war with the oil market and lost the first round. Hedge funds extended wagers that oil and gasoline prices will rise days before Trump blasted OPEC on Twitter for making oil prices “artificially Very High.” They were vindicated by a second straight week of gains that threaten to wipe out some of the household savings from Trump’s tax cuts. “Gasoline prices are rising in the U.S. ahead of the summer driving season and he wants someone to blame,” said Phil Flynn, a senior market analyst at Price Futures Group Inc. in Chicago. As Trump tries to push prices down and OPEC pushes them higher, that “creates an opportunity for traders,” he said. Read More @ https://www.bloomberg.com//news/articles/2018-04-20/trump-s-oil-woes-are-investors-gain-as-fuel-demand-boosts-price
A U.S. recession ahead? Fed policymakers say not to worry – USD hawkish tone. we are cautious.
As the gap between short- and long-term borrowing costs hovers near its lowest in more than 10 years, speculation has risen over whether the so-called yield curve is signaling that a recession could be around the corner. Read More @ https://www.reuters.com/article/us-usa-fed/a-u-s-recession-ahead-fed-policymakers-say-not-to-worry-idUSKBN1HR2RI?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
No-deal Brexit ‘disastrous’ for food firms
A free trade deal with the EU after Brexit is “crucial” for the UK food and drink industry and failure to secure one would be “disastrous”, a committee of MPs has warned. A no-deal outcome would have a “seismic impact”, said the Business, Energy and Industrial Strategy committee. An EU free trade deal should be the number one priority, the MPs said. The £28.8bn industry is the UK’s largest manufacturing sector, employing 400,000 people. Read More @ http://www.bbc.com/news/business-43855639
WHAT IS THE USD SAYING?
USD we are targeting lower.
MONDAY NEWS THAT MGHT AFFECT YOUR TECHNICAL TRADES.
- 11.00am – NZD will go to action and we believe the rebound will happen.
- 3.00pm – 4.00pm – France, German and EURO will release their PMI and is expected to be good. We maintain BUY for EUR.
- 6.00pm – German Buba Monthly Report will give some good volatility for EUR.
- 8.30pm – Wholesale Sales – we are expecting the data to be good.
- 9.45pm – US will release their PMI and is expected to be weak. We stay neutral till the news is over. We maintain SELL for USD after the NEWS.
- 10.00pm – Existing Home Sales – We are expecting weak data.
The market will remain cautious on Monday – always stay with good money management.
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.