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May 23, 2018

IronFX, Daily Report: Pressure rises for Theresa May & President Trump sets meeting with Kim Jong Un

What investors are talking about today? Here are the today’s highlights!

This article is originally referred from IronFX News.

Pressure rises for Theresa May

  • UK Foreign Secretary Boris Johnson, increased pressure on UK PM Theresa May about Brexit by stating in an interview that she must “get on with it”.
  • Also pressure rose as Jacob Rees head of a group of hard-line Brexit Tory lawmakers, implied that his faith in Theresa May is slowly fading out.
  • On other news, a recent poll showed that a number of economists consider that the UK government has managed poorly the Brexit negotiations, while on the bright side consider that there is only a 20% chance for a disorderly Brexit.
  • Should there be further negative headlines about Brexit we could see the pound weakening.

President Trump sets meeting with Kim Jong Un in doubt

  • President Trump stated in a meeting with South Korea’s president Moon, about his possible meeting with Kim Jong Un that “there is a chance, a very substantial chance that it won’t work out”.
  • The statement casted doubt on the possible meeting on the 12th of June, but also on the overall progress until now and Kim Jong Un’s intentions.
  • He revised later on as he stated that it doesn’t mean that it will not work out in the future and continued by mentioning the possibilities for North Korea should there be a denuclearization.
  • Any further negative headlines about possible Trump-Kim meeting could strengthen safe havens.

Today’s other economic highlights

  1. France: Markit Mfg preliminary PMI for May, Survey : 53.7 Prior:53.8, 07:00 (GMT) , could weaken the EUR
  2. Germany: Markit Mfg preliminary PMI for May, Survey : 57.8 Prior:58.1, 07:30 (GMT) , could weaken the EUR
  3. Eurozone: Markit Mfg preliminary PMI for May, Survey : 56.0 Prior:56.2, 08:00 (GMT) , could weaken the EUR
    Markit Composite preliminary PMI for May, Survey : 55.0 Prior:55.1, 08:00 (GMT) , could weaken the EUR
    Consumer Confidence preliminary indicator for May, Survey:0.40 Prior:0.40, 14:00 (GMT), could weaken the EUR
  4. UK: CPI for April, Survey: +0.5% mom Prior:+0.1% mom, 09:30 (GMT), could support GBP
  5. CPI for April, Survey: +2.5% yoy Prior:+2.5% yoy, 09:30 (GMT), could support GBP
  6. Core CPI for April, Survey: +2.2% mom Prior:+2.3% mom, 09:30 (GMT), could weaken GBP
  7. US: Crude Oil Inventories , Survey: -2.83M Prior:-1.4M, 14:30 (GMT), could strengthen Oil prices
  8. Speakers: RBA governor Lowe (08:00, GMT) speaks and please be advised that the FOMC meeting minutes are due out at 18:00 (GMT)

IronFX Daily Report ‘May 23rd’

Original Source: IronFX News

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