US warns European companies with sanctions

1. US national security advisor John Bolton, stated yesterday that European companies and countries that continue to do business with Iran could face sanctions.
2. Media also suggested that, the US secretary of state Mike Pompeo said that he remained hopeful of Washington and it’s allies could strike a new deal with Iran.
3. For the time being China, France, Russia, Britain, Germany and Iran seem to uphold the Iran nuclear deal.
4. Should there be further headlines about possible sanctions on European companies we could see volatility rising.

May says “Trust me on Brexit”

1. UK PM May stated yesterday that she could be trusted to deliver Brexit however compromises are necessary from all sides.
2. On other headlines the French foreign minister stated that the June EU summit is the ultimate deadline to make progress on the Irish border issue.
3. The EU June summit seems to be also a deadline for the UK remaining in leadership of current EU’s Common Security and Defense policy missions.
4. Should there be further negative headlines about Brexit we could see the pound weakening.

Today’s other economic highlights

• Speakers: FOMC members Loretta Mester (06:45, GMT) and James Bullard (16:40, GMT) speak. Also the OPEC monthly report is to be released today and could cause volatility on Oil prices.

As for the rest of the week:

• Tuesday: China’s Industrial Output and Retail sales for April, Germany’s and Eurozone’s preliminary GDP for Q1, UK employment data for March,　Germany’s ZEW economic sentiment for May and US Retail Sales data for April are due out.
• Wednesday: Japan’s preliminary GDP for Q1 and Eurozone’s final CPI rate for April are to be released.
• Thursday: Australia’s employment data for April could move the market
• Friday: Japan’s and Canada’s Inflation data for April are due out.

IronFX Daily Report ‘May 14th’