Weekend Review: A Busy Weekend for Traders
July 2, 2018 1:41 pmVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Unlike other recent weekends, the last weekend of the first half of the year was quite eventful. Some major news that could play an important role in the final half of the year were released.
On Friday, a US news site called Axios released a new report about Donald Trump’s frustrations with the World Trade Organization (WTO). The report said that the US president was considering exiting the agency, which acts as the arbitrator of global trade rules. The White House swiftly denied the allegations. On Sunday, Axios released a preliminary bill ordered by the White House on the same issue. In the new bill, the president would be at will of imposing tariffs from other countries. In an interview with Fox Business Network, the president reiterated that he would go ahead with his 20% tariffs on vehicles. This will hurt other countries like Japan, South Korea, and the European Union. It will also hurt the US through the retaliatory tariffs they will impose.
Another major news during the weekend was the election in Mexico. The election was an anticipated one at a time when the country is butting heads with its Northern neighbour over tariffs and NAFTA. In the first year of his presidency, Trump has threatened to exit NAFTA, which he has accused of being unfair to the United States. He has also accused the country of helping illegal migrants reach the US. The president has had a rough relationship with the former Mexican president. The tensions could continue under the new president.
In Iran, protests continued to rock the fragile country. This is significant because the country will likely continue to face the unemployment challenge in the foreseeable future. Most of the people protesting the government are young people who have become disappointed with the high rate of unemployment. As the US ramps up pressure on the country, we will likely see more protests that could lead to a change of government. The US has ordered all oil traders to cease their relationship with Iran by November. This has led to the exit of many companies in the country.
On Saturday, the US president sent a tweet after a conversation with the Saudi Arabia king. In the call, the two leaders talked about Iran and the oil prices. In the past few weeks, the president has complained that the oil prices were too high. In the call, the Saudi king agreed to increase production by more than 2 million barrels. This comes a week after Saudi Arabia led the OPEC countries to announcing slight addition to production. As shown below, oil prices dropped sharply at the market open.
In the European Union, Angela Merkel’s problems continued as her coalition partners rejected the immigration deal she initiated last week. Her minister for interior announced that he would resign if Merkel went ahead with her plans. He argued that the deal was insufficient in addressing the concerns. This puts Angela Merkel’s position as chancellor at risk. In response, the euro fell as shown below.
The post Weekend Review: A Busy Weekend for Traders appeared first on Forex.Info.
Related Posts: