EU official urges Trump, Putin not to destroy global order
A senior European official on Monday urged U.S. President Donald Trump, Russian President Vladimir Putin and China to work with Europe to avoid trade wars and prevent conflict and chaos. Speaking before Trump and Putin were due to meet in Helsinki, European Council President Donald Tusk appealed for leaders to avoid wrecking a political and economic order that nurtured a peaceful Europe and developing China. Read more @ https://www.apnews.com/aaaffdbc7353421e9b9f4165d783bdb0/EU-official-urges-Trump,-Putin-not-to-destroy-global-order
Trump Calls Europe “Biggest Global Foe” But Tusk Says US, EU “Best Friends”
Trump was not entirely negative as he said he could not take a fully combative stance to the EU because “both” of his parents were born there. His mother was born in Scotland, while his father was born in New York. Read More @ https://www.zerohedge.com/news/2018-07-15/tusk-says-us-eu-best-friends-trump-calls-eu-biggest-global-foe
EU pushes China on trade, saying it could open up if it wanted
China could open its economy if it wished, European Commission President Jean-Claude Juncker said on Monday, with the European Union calling on countries to avoid a trade war even as pressure mounts on Beijing over its industrial policies. Read More @ https://www.reuters.com/article/us-china-eu/china-looks-to-get-cozy-with-eu-in-annual-talks-as-trump-tariffs-bite-idUSKBN1K514O
WHAT IS THE USD INDEX SAYING?
USD AT H1 starts its H&S formation for a decline, however yesterday good data holds the USD quite well. Today with Powell Fed Chairman speaks will create some volatility. USD strength is not in favor for the US economy. We expect good correction this week.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 9.30am – Australia RBA will release their Monetary policy meeting minutes expect volatility in favor for AUD.
- 4.00pm – BOE Mark Carney will speak and we are expecting hawkish statement – GBP volatility is expected.
- 4.00pm – Employment and unemployment data from UK – expected to be good.
- 8.30pm – Canada will release their manufacturing sales – expected to be good.
- 10.00pm – FED Chairman Powell testifies – long process – Market volatility is expected – we are expecting a cautious market movement.
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