Trump, Trudeau discuss trade, economic issues over phone call

U.S. President Donald Trump spoke with Canadian Prime Minister Justin Trudeau late on Friday to discuss trade and other economic issues, White House Press Secretary Sarah Sanders said on Saturday. The phone call between the two leaders was the first to be publicly disclosed since Trump blasted Trudeau as “very dishonest and weak” at the end of the Group of Seven leaders meeting in Canada earlier this month. Read More @ https://www.reuters.com/article/us-usa-trade-canada/trump-trudeau-discuss-trade-economic-issues-over-phone-call-idUSKBN1JQ0RA

Trump says Saudi king agreed to raise oil output by up to 2 million barrels

U.S. President Donald Trump said on Saturday that Saudi Arabia’s King Salman had agreed to his request to increase oil production “maybe up to 2,000,000 barrels,” an extraordinary amount not confirmed by the kingdom and which would push the OPEC leader to a level of production never tested before. https://www.reuters.com/article/us-usa-saudi-trump-oil/trump-says-saudi-king-agreed-to-raise-oil-production-up-to-2-million-barrels-idUSKBN1JQ0ES

Trump Pressures Saudi Arabia to Increase Oil Production

President Trump tweeted on Saturday that he had once again leaned on Saudi Arabia, the world’s largest oil exporter, to increase production by as much as 2 million barrels a day.

In recent months, Mr. Trump has put pressure on the Saudis and the Organization of the Petroleum Exporting Countries to increase supplies through tweets and other messages. His tweet on Saturday came as many Americans were hitting the roads to begin an extended Fourth of July holiday. Read More @ https://www.nytimes.com/2018/06/30/us/trump-oil-saudi-arabia.html?partner=rss&emc=rss

WHAT IS THE USD INDEX SAYING?

USD will test the Support tomorrow when the market opens – lots of pressure on the USD as the oil breaks new highs; strong USD is only going to bring nightmare for the president. The million dollar question now is – WILL THE SUPPORT BREAK and USD go to $92? We should see some big dram this week with Central messages, NFP, FOMC and other major news ahead. Stay safe and always watch your money management.

MONDAY NEWS THAT MOGHT AFFECT YOUR TECHNICAL TRADES

  1. 7.50am – 8.00am – Japan will release two important news – Tankan & Final manufacturing index – we believe the JPY will continue to weaken as the BOJ increase their stimulus.
  2. 9.00am – Australia will release their Inflation gauge – This data provides a monthly look at consumer inflation and is designed to mimic the quarterly government-released CPI data. Full reports are only available to Melbourne Institute subscribers
  3. 9.45am –  China will release their manufacturing data PMI – It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.
  4. 3.15pm – Spain will release their Manufacturing data and is expected to be good. We maintain BUY for EURO.
  5. 3.45 – 4.00pm – France, German, Italy and EURO – will release their manufacturing PMI and is expected to be overall good – we maintain BUY for EURO.
  6. 4.30pm – UK will release their manufacturing data and is expected to be good – volatility expected in favor for GBP.
  7. 9.45pm – 10.00pm – US will release their PMI and is expected to be mixed. We moved from buy to sell this week.

The market will be very volatile this week as major news starts from Monday; Wednesday to Friday to market will be extremely volatile. Trade war is getting fierce and USD is still resilient – the question is – WILL USD CRACK THIS WEEK?

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.

 

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