Pope says financial derivatives are a ‘ticking time bomb’
- The Vatican called for more regulation of markets and financial systems.
- Two Holy See departments drafted a document saying economic crises showed markets were not able to govern themselves and needed a strong injection of morality and ethics.
- The Vatican’s pronouncement is considered official teachings of the Catholic Church and could affect the attitude of the church’s 1.2 billion members. Read More @ https://www.cnbc.com/2018/05/17/vatican-says-amoral-financial-system-needs-infusion-of-ethics-more-regulation.html
Trump doubts success in rebalancing U.S.-China trade as talks get underway
President Donald Trump said on Thursday that China had become “very spoiled” on trade with the United States and cast doubt on the success of his efforts to rebalance the relationship with Beijing as high-stakes U.S.-China negotiations opened in Washington. Read More @ https://www.reuters.com/article/us-usa-trade-china/trump-doubts-success-in-rebalancing-u-s-china-trade-as-talks-get-underway-idUSKCN1II1XF?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Wall St falls slightly on trade, oil price concerns
The Dow Jones Industrial Average .DJI fell 54.95 points, or 0.22 percent, to 24,713.98, the S&P 500 .SPX lost 2.34 points, or 0.09 percent, to 2,720.12 and the Nasdaq Composite .IXIC dropped 15.82 points, or 0.21 percent, to 7,382.47. Read More @ https://www.reuters.com/article/us-usa-stocks/wall-st-falls-slightly-on-trade-oil-price-concerns-idUSKCN1II1KW?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE USD INDEX SAYING?
USD rebounded after a pullback early yesterday. $94 is clear but we believe the price will break the $94 by next week. Be cautious if you are shorting the USD.
TODAY’S NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 7.30am – Japan CPI will be released and is expected to be neutral or weak; USDJPY moving to new high.
- 2.00pm – German PPI & WPI will be releases and is expected to be good. It’s a leading indicator of consumer inflation – when manufacturers charge more for goods the higher costs are usually passed on to the consumer. EUR at critical low. Should have a slight rebound today but still in danger of going lower. Long Term is still a Buy.
- 4.00pm – EURO current – should create a good volatility for EURO.
- 5.00pm – EURO will release their Trade Balance and is expected to be good.
- 8.30pm – Canada will go to action – we are eyeing on CAD pairs as they release their CPI today. Any weak CPI will bring the CAD to new lows. We are expecting a weak data.
The market is now pricing in for FOMC June 14th for the FED to start winding down loose monetary policies and also start to raise rates. Always put Money management as your priority and never over-trade your account. Learn and master the 10/2 Rule.
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.