ZuluTrade Blog
Image

Market View

Market Recap - Wheeling and dealing in Brussels

Tuesday, May 28, 2019 10:57 AM GMT

Markets on Monday were digesting the European elections results. Today leaders meet in Brussels and the battle to finalize who will be the next President of the European Commission is fierce. The position has been served by Jean-Claude Junker with the support of center-right EPP party and the center-left Social Democrats. Now these two parties are not enough to support the Presidency nomination and there is a possibility that a new alliance of the Social-Democrats, the Liberals and the Greens will shape up, ending the monopoly of the EPP’s control of EU institutions. Negotiations for the Presidency of the European Commission, the Presidency of the European Council (a position that is currently served by Donald Tusk) and the Presidency of the European Parliament could last until the end of June.

The President Trump’s 4 day visit in Japan has not produced positive news. Trump has downplayed the recent North Korean short-range missile tests, has made no promises on the probability of imposing tariffs on the Japanese automobile industry, and made no promise to drop the tariffs on Japanese steel and aluminum as he recently did with Canada. Vague comments have been made from both President Trump and Prime Minister Abe over their intentions to help bring peace in the Middle East.

Macro releases: No market moving releases are expected today. Tomorrow is the scheduled monetary meeting of the Bank of Canada.

 

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of Zulutrade and do not constitute an offer or invitation to anyone to invest or trade.

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.