Erdogan Urges Turks To Stick With Collapsing Lira, Warns Financial Speculators “Will Pay A Heavy Price”
Since Recep Tayyip Erdogan’s election to Prime Minister of Turkey in 2002 (and even more so since his ‘election’ to President for life in 2014), the Turkish Lira has been on a one-way street to hyperinflation. Read More @ https://www.zerohedge.com/news/2018-05-26/erdogan-urges-turks-stick-collapsing-lira-warns-financial-speculators-will-pay
Italy president under pressure to accept eurosceptic minister
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
TOO LATE – ECB Officials Aren’t Ruling Out June Meeting to Tweak QE
European Central Bank policy makers aren’t yet ruling out the prospect of moving further toward a wind down of stimulus as soon as June, according to euro-zone officials with knowledge of the matter. Members of the Governing Council remain confident that the economy is in a robust growth phase, according to the people, who asked not to be identified because such discussions are private. They said officials are currently keeping the option open of acting at their next meeting on June 14 as well as the option of waiting until July. READ MORE @ https://www.bloomberg.com//news/articles/2018-05-25/ecb-officials-are-said-to-not-rule-out-june-meeting-to-tweak-qe
WHAT IS THE USD INDEX SAYING?
USD heading for double top – and we believe it is not going to stop there but break the double Top. Be cautious as the week and next week pricing will start for June 14th FOMC rate hike. The market expected to have a Gap IN favor for the USD as SWEDEN, ITALY AND TURKEY Crisis re-surfaces.
MONDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
MONDAY the banks goes for holidays; market will be slow but BAD NEWS will move the market in favor of the USD. We are in favor of the USD this week again.
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