2018 FIFA world cup Russia will start the first match on 14th June 2018. What football world cup will affect financial market?
U.S. dollar rose higher against yen on Wednesday morning as investors await FOMC meeting late at night by Thai time on Thursday. In my opinion, if there won’t be any surprise signal, greenback may drop lower by speculation in short term. But euro may hold steady before ECB meeting which I suggest to focus the QE policy after September. I think the slowdown economy in European countries, low inflation and uncertainty politic in Italy and Spain may pressure ECB to stimulate its economy by continuing QE program. If U.S. dollar is weaker, euro may rise above 1.1800 points.
The easing tension of nuclear and “The meeting of the century” between American president and North Korean leader in Singapore ended gracefully with unclear details. However, this factor pulled gold price lower than 1,300 dollar on Wednesday. Gold price may swing by the steady of U.S. dollar today. Next support line for Bitcoin will be 4,900 dollar. I think the safety support zone for Bitcoin maybe over 7,000. If Bitcoin price can raise above 7,000 dollar and stay higher this level, it may not fall lower to the next support line.
Economic indices in focus:
• China: Industrial production (May) 09.00 a.m.
• UK: Retail sales and core retail sales (May) 15.30 p.m.
• EU: ECB interest rate decision, marginal lending facility rate and deposit facility rate 18.45 p.m. and ECB press conference at 19.30 p.m.
• USA: Retail sales and core retail sales (May) 19.30 p.m.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.