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Market Recap - SPD leader resigns, Trump is visiting the UK

Monday, June 3, 2019 10:47 AM GMT

Contrary to the rising geopolitical risk in the Persian Gulf [ with attacks on oil infrastructure & vessels, with the increased presence of US military naval forces in the region, with 20 Arab nations, including Qatar, denouncing Tehran's "threat to maritime security"] oil prices are falling. On Sunday, US Secretary of State, Mike Pompeo said that Washington was willing to hold talks with Iran to lower tensions in the Persian Gulf "with no preconditions". President Trump stated the Iran has a chance to be a great country with the same leadership. USA is not looking for a regime change.

On Sunday, the leader of the SPD resigned. SPD is the Social Democrats’ party that backs the current coalition government of Angela Merkel in Germany.

Today, President Trump is visiting London. Demonstrations against him, are expected.

Meanwhile, equities continue their free fall and government yields continue decreasing.

Macro releases: Today’s focus is on the manufacturing PMI of EU, Switzerland, the UK, the USA and Canada.

 

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