The Department of Justice has appointed former FBI head Robert Mueller to investigate whether Russia intervened during the 2016 presidential election. Recent reports from the US are indicating that the probability that Trump’s presidency will end this year is around 29% following the Russia leak scandal. Trump is now facing his biggest political crisis since…
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There are two upcoming events that are expected to impact the price of Oil; firstly, the Iran presidential election will be held this Friday, May 19th and secondly the OPEC meeting will be held on May 25. The result of the Iran presidential election and the associated geo-political risks will likely affect its oil supply.…
Read moreIt was widely reported that President Trump shared highly sensitive information with the Russia Ambassador at a recent meeting at the White House putting further pressure on USD. During today’s early European session the dollar index hit the lowest level of 97.74 last seen back in November 2016, EUR/USD traded as high as 1.1121 a…
Read moreThe Asian session saw equities climb to a fresh-two year high early on Tuesday on the back of an overnight rise in Wall Street fueled by reports that President Trump had disclosed classified information with the Russian Foreign Minister without necessary authorization from the source. This re-fueled the continued underlying uncertainties and reinforced doubts surrounding…
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EUR/USD has retraced around 1.15% post the second-round vote of the French presidential election. The retracement was held above the support line at 1.0850 since yesterday. On the 4-hourly chart, the 10 SMA is crossing over the 20 SMA, indicating the bearish momentum is waning. The daily Stochastic Oscillator reading is below 20, suggesting a…
Read moreFriday May 12th will see the release of a set of crucial US data for April at 13:30 BST; retail sales, retail sales excluding autos, CPI and core CPI. Please be aware that it will likely affect USD and USD crosses along with commodities. The dollar index has rebounded over the past four trading sessions…
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Spot gold has seen a substantial 5% retracement since mid-April as it neared a significant resistance level at $1300. The French election outcome has lifted markets’ “risk-on” sentiment and resulted in safe heavens retreating which has weighed on gold prices. The dollar has been strengthening over the past three days adding further downward pressure on…
Read moreToday will see the release of a set of UK economic data for March at 09:30 BST, including manufacturing production, industrial production, and trade balance. This will be followed by the Bank of England’s (BoE) interest rate decision and monetary policy minutes at 12:00 BST and the NIESR GDP estimate (Feb to April) at 13:00…
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Thursday May 11th is a crucial day for GBP traders with the release of a series of UK economic data at 09:30 BST. Followed by the Bank of England’s (BoE) interest rate decision and monetary policy minutes at 12:00 BST and the NIESR GDP estimate (Feb to April) at 13:00 BST. Recent UK economic data…
Read moreECB Governor Draghi will make a speech in the Dutch Parliament at 12:00 BST today. It will be Draghi’s first speech after the French election so traders should be aware of any comments on the Eurozone’s economic outlook or hints of a possible gradual removal of QE. Thursday May 11th is a crucial day for…
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