China says in principle door is open to trade talks with U.S.
China’s door to talks is open in principle, the country’s Foreign Ministry said on Monday, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs. Read More @ https://www.reuters.com/article/us-usa-trade-china/china-says-in-principle-door-is-open-to-trade-talks-with-u-s-idUSKCN1J00PP
First-Time U.S. Homebuyers Account for Almost Half of Mortgages
oung Americans are hitting more and more homeownership roadblocks: crippling student debt, escalating home prices, surging mortgage rates and a scarcity of listings. So why have they gone on a buying binge? First-time buyers accounted for 46 percent of new mortgages (excluding refinancings) that Freddie Mac backed in the first quarter, their biggest quarterly share in data going back to 2012, according to the company. Meanwhile, the National Association of Realtors puts the median age of first-timers in the U.S. at 32. Read More @ https://www.bloomberg.com//news/articles/2018-06-04/first-time-u-s-homebuyers-account-for-almost-half-of-mortgages
WHAT IS THE USD INDEX SAYING?
USD is regaining its upward movement but 94.20 is holding the resistance. Be patient and let the USD to make its move before engaging the major pairs. Remember impatient traders pays money to the patient traders.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 9.30am – Australia will release Current account followed by China Caixin services PMI – both are expected to be good.
- 12.30pm – AUD will make its big move with rate decision and RBA statement which is expected to be mix – AUD might take a correction this morning or breakout – be cautious. Trade after the news which is safer.
- 3.15pm – 4.30pm – Spain, France Germany and Euro will release their PMI which is expected to be good and its time for ECB to start winding down their QE – We are moving from selling EURO to buy now.
- 4.30pm – UK will release Services PMI which is very important data – GBP is expected to have some good volatility in favor for GBP.
- 5.00pm – EURO will release their Retails sales and is expected to be good for EURO.
- 9.45pm – US will release their services PMI and is expected to be no change.
- 10.00pm – ISM MFG – expected to be good for the USD.
- 10.00pm – JOLTs DATA employment – widely expected to be good and is good for the USD.
The market is cautious as 14th June approach for FOMC decision – we are expecting market to consolidate till then – USD should take a pullback prior to the 14th June decision.
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.