- Story circulating about President Trump revealing classified information via the Washington Post. “President Trump revealed highly classified information to the Russian foreign minister and ambassador in a White House meeting last week, according to current and former U.S. officials.” Potential to gain traction and weight on stocks, dollar index.
- Yesterday, Oil prices surged after major producers Saudi Arabia and Russia said they would extend oil supply cuts into 2018. The commodity rallied close to 3.5%, before giving back half of its gain during the US session.
- N.Korea vows missile tests “any time, any place,” says U.S. territory “within sighting range for strike”
- Further to EUR/USD analysis sent to traders yesterday, NAB considers the likely new range of EUR/USD to be 1.0850-1.1700 for the coming 18 months or so.
- Helped by a pop in Oil prices, US stocks reached new highs – S&P500 (+0.48%), DOW (+0.41%) – the USD/JPY dragged slightly higher, even in the face of weakening US Dollar Index, outperforming Japanese PPI figures and headlines on N.Korea and Trump concerning the market.
- USD/JPY Fibonacci 38% retracement support level sits at 112 in the, with shorts likely placing stops just above the 114.37 level.
- UK CPI this evening, comes after just one miss in the last 11 figures. This evenings expected figure of 2.6%, if reached, will be the countries best performing inflation read since October 2013, a year which saw very stable inflation figures month on month. Next resistance level at 1.306 in GBP/USD.
Today’s Economic calendar (AEST)
- 11:30am Monetary Policy Meeting Minutes
- 6:30pm UK CPI y/y
- 10:30pm US Building Permits
