Markets’ Reaction to Trump’s Tweet on Iran

By Kenneth@Xtrade - on May 8, 2018

WTI Oil prices are restless, as some investors took profits ahead of today’s tweet from Donald Trump which will announce his stance on the Iranian deal.

Markets are nervously anticipating Donald Trump’s decision on the Iranian deal. Some think he may just pull out which could be possible but unlikely. Rather, he may suggest renegotiation of new terms.

Meanwhile, markets are cautiously marching around, as Oil oscillates between $69.59-$70.25

  • Gold, which receded earlier in the Asian markets, is now picking up ranging between 1,311.10 – 1,317.50 with some potential upside. Investors attempt to hedge ahead of the U.S. JOLT job reports and Trumps revelations.
  • Asian markets were on an upbeat trend, driven by the tech industry earnings, which bolstered the EU markets. UK’s FTSE may surge 0.2 % while Germany’s DAX 30 pushes 0.1 percent.
  • GBP was bullish in the early hours after returning from its Bank Holiday on Monday.  It did, however, retract on disappointing data from (Halifax House Price Index) reporting 2.2% instead of 3.3%
  • EUR is also sliding on downbeat German reports related to German Exports.
  • JPY sees a bit of demand amid political uncertainties some investors prefer it as a safe haven.
  • Crypto market is resiliently ranging despite Warren Buffet’s swing at them, and ongoing regulatory pressures from various countries amid egoistical bunches from supporters of individual coins
  • The day is set to be full of surprise and corrections while “spread betters” await reports from the US JOLTS job reports and The American Petroleum Institute (API) on weekly Crude Oil stocks, which may indicate a build-up.

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