A touch of politic

A touch of politic

The Trump administration last week turned trade threats into action by slapping tariffs on steel and aluminum from Canada, Mexico and Europe, all of which have retaliated and are fighting the U.S. move at the World Trade Organization. The heads of Canada, Japan, German, France, the U.K. and Italy will all be in attendance at the G-7 summit in Quebec Friday, and all have first-hand experience with Trump tariffs. Trump meets President Shinzo Abe of Japan on Thursday ahead of the Friday summit.

Further to this, and much back and forth, it now seems like that Trump will meet Kim Jong Un on 12th of June in Singapore. Trump will offer US investment on a condition that North Korea giving up its nuclear and rocket launch program.

In Italy, the Senate today will vote for the new government, while the date of reconciliation in the House of Commons has not yet been determined. However, the five-star movement and the League have a majority in both houses and it is not expected that there will be any problem with the approval. Despite the fact that the government parties have a majority, the government can face major challenges in the future. Partiality is not so great and there is a considerable distance between the government parties in many things. Lucky for Minter Markets, we do have a correspondence in the area😊

Effect on market, the tendency is still positive with numbers above expectation. Both Asia and US closed higher in the last trading session. Today, we are receiving housing prices for May in Norway. After an increase of 0,9% from March to April, there is a moderate expectation of growth from April to May. But, real estate agents has indicated that the activity has been strong in May and that inflation has been strong.

Yesterday, we closed our EURUSD, as it touched our stop above 1.1740.

Today, we thinking to close NOKSEK as it goes no were, “ranging”, currently trading at 1.0789

JP225 Index and China A50 Index

US30 Index and US500 Index

TickerDate OpenedEntry PriceStopTarget PriceCurrent Price
Long XAUUSD(Gold)26/4131712801365 and 14001292.68
Long Brent31/577.5873.00Switch from July to August contract – Target 8075.59

Visit our Position Tracker to look at all of our realized trades: http://www.mintermarkets.com/position-tracker/

– Morten

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