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> “UK-EU free trade area” – Exit of Brexit
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“UK-EU free trade area” – Exit of Brexit

Olymp Trade

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U.S. dollar decreased lower on Monday from the contrast indices: nonfarm payrolls, unemployment rate in June and average hourly earnings. The lower earning may affect to Fed’s interest rate hike in Q3-Q4. However, U.S. dollar may get the positive support from job opening in May which will release tonight because May is the strongest month of U.S. labor market that unemployment rate declined to the historical low at 3.8%. Greenback may hold steady await economic data so EUR/USD may move sideways above 1.1750 points. While German and European economic sentiment in July forecast lower which not good for euro, euro may fall lower than 1.1750 dollar by the negative support from ZEW indices. I suggest resistant line for EUR/USD is at 1.1800 points and support line is at 1.1700 points.
U.K. had decided “UK-EU free trade area” for the coming Brexit in March 2019 but it is the reason that Brexit secretary resigns. Is this policy expressing the softer attitude to EU? Will the policy support the United Kingdom quit EU smoothly? However, this factor gives good support for GBP yesterday. British pound rose up on Friday and broke the resistant line at 1.3300 dollar early on Monday. In my view, pound may slightly drip lower than 1.3300 and it may move flat around 1.3270-1.3340 dollar await U.K. manufacturing production. While Thai baht was steady from the weaker dollar, USD/THB may fall lower than 33.00 points.
Gold price rose above 1,260 dollar from the softer U.S. dollar on Monday. It may hold steady today and slightly rise to 1,270 dollar before U.S. economic data releases. ADVFN CEO - Clem Chambers analyze and forecast Bitcoin price may rise to 20,000 dollar and then 100,000 dollar in the long term but it may fall to 2,000 dollar in short term. However some online shopping websites reject cryptocurrencies and bitcoin quietly such as Expedia. In my opinion, Bitcoin’s recent trend is bearish combined with low volume its price may slightly decrease to 6,400 dollar.
Economic indices in focus:
• China: PPI and CPI (Jun) at 08.30 a.m.
• UK: Manufacturing Production (May) at 19.30 p.m.
• Germany: German ZEW Economic Sentiment (Jul) at 16.00 p.m.
• Europe: ZEW Economic Sentiment at 16.00 p.m.
• USA: Job Openings (May) at 21.00 p.m.

Olymp Trade Review

Source: https://olymptrade.com
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