ECB Is Said To See June 14th as a Live Meeting To Debate QE Exit – 14TH June FED & ECB will go to action EUR will start its pricing in till 14th.
US housing: Still going strong but for how long?
A mixed month for US housing data, but the overall direction remains upwards. The question is, how long will this trend continue?
- Sales are down
- Though construction is powering ahead
- But how long can it last?
- Well, probably a while yet
ISM non-manufacturing index grows in May, expanding for the 100th month
- A measure of U.S. non-manufacturing industries grew to 58.6 in May, beating estimates.
- U.S. non-manufacturing industries have seen 100 straight months of expansion.
- Concerns for future growth lie in escalating tariffs and trade talks. Read More @ https://www.cnbc.com/2018/06/05/may-ism-non-manufacturing-index.html
WHAT IS THE USD INDEX SAYING?
The USD still maintain its BULL PATTERN; 14th December FED will do a rate hike but the rise of USD will not stop at $94 BUT higher. The question now is all ECB winding down there QE of years of lose policy monetary. Therefore trading the market is going to be even difficult moving forward. Be cautious and always maintain good money management.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 7.00am – AUD will go to action with Bullock speaks – bullish pattern is expected.
- 9.30am – AUD will take its volatility when Australia releases its GDP data. Bullish movement expected.
- 3.14pm – Swiss will release their CPI data and is expect to be improving – USDCHF expected to move south.
- 4.10pm – EURO will release their Retail PMI and is expected to be good.
- 8.30pm – Canada Trade Balance and Building Permits data is expected to be good. CAD expected to rally.
- 8.30pm – US will release their Trade Balance and Nonfarm productivity & Labor cost – expected to be good. USD should move north before the market closes today.
- 10.30pm – Crude Oil Inventories and the data is expected to be in favor for the OIL.
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.