Everyone wants a Piece of the Pie.

By Kenneth@Xtrade - on June 6, 2018

  •  US Yields rose Wednesday morning; Asian shares were relatively positive boosted by the tech industry. These chain of causation is likely going to support EU shares in a positive way.
  •  As USD maintained its bullish stance the expectation is commodities and other majors are to be on a downward trajectory as in a classic inverse correlation scenario, however, commodities like Gold, Aluminium, Silver, and Oil are all bullish. perhaps until reports from the U.S are delivered.
  •  Oil prices rose Wednesday ahead of the usual Crude Oil Inventories Report, provided by the EIA / Energy Information Administration, although some analysts claim the U.S. has asked some OPEC members to increase production. Venezuelan’s efforts to curb exports have encouraged prices up to be ranging between 65.44 – 65.97 with a 0.26% rise by07:54GMT
  •  GOLD is trending between 1,300.40 – 1,303.50
  •  Meanwhile, EUR/USD climbs 0.34% from recent 10month lows of 1.1510 to 1.1758. at two weeks highs and may remain hawkish as investors digest upcoming ECB comments. The GBP was also found bullish. USD/JPY was up 109.90 at the time of print 07:10GMT
  • Upbeat GDP has supported AUD reports 1.0% versus a forecast of 0.8%.
  • CAD & MXN have been under pressure by the USD Tariffs (Trade Wars) which is biting into the NAFTA agreement.
  •  INR releases its interest rate decision today.
  • China Steel exporters seek new markets in Africa and elsewhere.

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