Trump signs the biggest rollback of bank rules since the financial crisis
- President Donald Trump signs a bill rolling back certain bank regulations into law.
- The law, which Congress passed with bipartisan support, eases rules on all but the largest institutions.
- Proponents argue the measures will help community lenders, while opponents contend it went too far to help mid-sized and regional firms. Read More @ https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html
Ray Dalio: Here’s The Reason Why “There Won’t Be A Trade War Anytime Soon”
While Ray Dalio initially praised Trump after his election, the founder of the world’s biggest hedge fund subsequently grew increasingly concerned and sour on the president, warning that populism is “more likely than not to become extremism”, and that “Donald Trump is moving toward conflict rather than cooperation.” It got so bad that two weeks ago, Bloomberg reported that Bridgewater had derisked massively, and had gone net short equities, perhaps a testament to Dalio’s growing pessimism. Read More @ https://www.zerohedge.com/news/2018-05-24/dalio-heres-reason-why-there-wont-be-trade-war-anytime-soon
WHAT IS THE USD INDEX SAYING?
USD is firmed at the support and bullish has formed – tonight will be interesting to watch if the USD heads back to $94. We wait for the price to break $93.80 BEFORE we jump in back to BUY USD.
TODAY’S NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 7.30am – Japan will release their core CPI – expected to be no change. USDJPY goes under pressure with North Korea and IRAN sanction.
- 4.00pm – German business climate – expected to be no change – EURO expected to continue going under pressure.
- 4.30pm – UK will release their GDP data and is expected to be the same data – GBP will go under pressure today. We maintain SELL for GBP Pairs.
- 8.30pm – US will release their durable goods and is expected to be good. We maintain BUY for USD.
- 9.20pm – GBP & USD will have some good volatility when Carney and Powell speaks (RBA & FED). Be cautious as the MARKET can go either way.
- 10.00pm – US will release their Consumer and Inflation data and is expected to be good.
Overall the market still in favor of the USD. Be cautious if you are shorting the USD as the pattern shows still bullish. Always maintain good money management at all times.
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