Trump announces he will withdraw US from Iran nuclear deal and restore sanctions
- President Donald Trump announced he is withdrawing the United States from the 2015 Iran nuclear deal during a speech on Tuesday.
- Trump faces a deadline on Saturday to either restore or continue suspending sanctions on Iran. Read More @ https://www.cnbc.com/2018/05/08/trump-to-announce-he-will-withdraw-us-from-iran-nuclear-deal.html
China-U.S. Trade Gap Widens as Firms Run to Beat Looming Trump Tariffs – China’s surplus hit $22.19 billion last month, up 44% from March
Chinese exports rebounded in April, as companies rushed to make shipments ahead of expected tariffs brought on by trade tensions with the U.S. Exports jumped 12.9% last month from a year earlier, after falling 2.7% in March, the General Administration of Customs said Tuesday. Imports surged 21.5% from a year earlier, compared with a 14.4% increase in March. Both exports and imports beat economists’ expectations. Read More @ https://www.wsj.com/articles/china-u-s-trade-gap-widens-as-firms-run-to-beat-looming-trump-tariffs-1525774016?mod=pls_whats_news_us_business_f
CPI FOCUS TOMORROW AND IS EXPECTED TO BE GOOD – Americans’ anxiety about paying bills has spiked over the last year
Americans are stressed out.
People are plagued by financial anxiety, according to the results of an annual poll of 1,004 adults conducted by the American Psychiatric Association released Monday. This year’s national anxiety score—derived by mean scores on a scale of zero to 100—is 51, a five-point jump since 2017. Two-thirds of respondents said they were extremely or somewhat anxious about paying their bills or expenses. Last year, 56% of people reported financial worries. Read More @ https://www.marketwatch.com/story/americans-have-more-anxiety-about-paying-their-bills-than-they-did-a-year-ago-2018-05-08?siteid=rss&rss=1
WHAT IS THE USD INDEX SAYING?
USD has breakout from yesterday consolidation – next move of the USD is $94 – market is expecting a good CPI data tomorrow after Hawkish statement from FED in the last FOMC statement. Be cautious if you are shorting the USD.
TODAY’S NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TONIGHT.
- Trump is firm on the IRAN SANCTION – OIL & USD heading north.
- 8.30am – Westpac Australia will release Consumer sentiment and is expected to be good. AUD will have little or move.
- 1.00pm – Japan will release Leading Indicators – This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously. There’s a revised version of this indicator released about 10 days later, but it’s not included for lack of significance. Source changed series from a diffusion index to a composite index as of Jun 2008.
- 8.30pm – Canada Building permits – It’s an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building; we are expecting to be good.
- 8.30pm – Core PPI – It’s a leading indicator of consumer inflation – when producers charge more for goods and services the higher costs are usually passed on to the consumer; expected to be good.
- 10.00pm – Final Wholesale Inventories – It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories; expected to be good.
- 10.30pm – Crude Oil Inventories – While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector – It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods – expected to be in favor for the OIL.
Be cautious as the market becomes difficult and so many uncertain issues that makes trading more vulnerable. Always have good money management and don’t over-expose.
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