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Friday, May 17, 2019

Forex Signals Brief for May 17

For the time being, it looks like markets are remaining relatively positive after what was a bit of a dangerous time only a week ago.
Equity markets have rebounded strongly and the USD remains near its highs, leaving the majors under a fair bit of pressure across the board.
There are reports out today, suggesting that the Chinese are not that keen to do a deal on trade as they believe US President Trump is ‘not sincere’. However, as yet the comments haven’t gained all that much traction, despite the fact that the ES Futures are down about -0.30%.
The main data point today will be for the EUR/USD with CPI data due for release. Despite the low expectations, the Euro is already very weak at could well sink further.
Cryptocurrency Update
BTC has fallen out of bed in a big way today with price crashing into the $6,000 level before staging a bit of a fightback to currently be back above $7,000.
There was no fundamental reason for the big sell-off that I could see as yet, and the bulls must be pretty nervous at the moment.
This is a developing story so keep watching closely as European markets open for the day.

     Posted By 
GreenForexClub

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