The Trump-Putin rendezvous

The U.S. President Donald Trump and President of Russia, Vladimir Putin are going to have their first ever face-to-face meeting today afternoon at a G20 summit in Germany’s city of Hamburg. The world awaits this meeting as both Presidents want to repair ties and are expected to focus mainly on the Syria and Ukraine issues. Meanwhile, on the financial markets, the U.S. is set to release its Nonfarm Payrolls and its Unemployment Rate, both for the month of June at 12:30 GMT.

source: BBC News, aisvector / Shutterstock.com

According to the Office for National Statistics (ONS), U.K. household living standards are falling at their fastest pace since 2011. Real household disposable income per head dropped by 2 percent in the first quarter of 2017, compared to a year ago. The biggest drag on this measure was the rise in inflation, which hit 2.3 percent in the year to March, and it is expected to breach 3 percent soon. Investors should pay attention to the U.K. Manufacturing Production report for May which is due at 08:30 GMT today.

Microsoft plans to slash thousands of jobs worldwide, mostly in sales positions as it attempts to strengthen its presence in its cloud computing division. The American multinational technology company stated that the majority of cuts are expected to be outside the US and it would not provide any additional detail. Even though, the “intelligent cloud” products generated $1.7bn in revenue, Microsoft is still facing intense competition from Amazon and Google.

Technical Analysis

UKOIL

UKOIL

According to the data released by the American Petroleum Institute, the U.S. crude oil inventories fell by 5.8 million barrels. This uplifted price of the commodity on Thursday as it jumped by nearly one percent. In today’s session, however, the brent crude oil is seen much volatile on the market and it may continue to trade below the $50 level a barrel. Consider trading this asset once it is made available on the trading platform.

SPX500

SPX500

The S&P 500 index kept dropping in yesterday’s session, it recorded few pullbacks as from 16:00 UTC at 2419.9 points till it reached a low level of 2408.4 points by 19:00 UTC. It was last quoted on a bullish candle at 02:00 UTC at the 2411.7 level earlier today. Hovering below the Ichimoku Cloud indicator depicts a downtrend for today, and also demonstrate a change in trend set at 11:00 UTC today, watch out for this opportunity.

EUR/JPY

EUR/JPY

A glimpse of the EUR/JPY graph shows the asset following an uptrend since yesterday morning’s session. It recorded some momentary jumps as from 02:00 UTC where it traded at 128.049 yen till it reached 128.653 yen by 07:00 UTC on Thursday. Today’s session started on a positive note and the EUR/JPY pair was quoted at a record high around 02:00 UTC at the 129.788 level. It may thus follow this bullish trend throughout the day, keep an eye.

Things to watch on the market

Tip 1

It would be advisable to trade on assets such as the EUR/USD, GBP/USD, USD/RUB, and AUD/USD in regards to U.S. events releases due on the market today.

 

Tip 2

Consider trading the EUR/GBP, GBP/RUB and the GBP/JPY pair, which is available on the Options Builder tool.

 

Tip 3

As Microsoft takes a new step ahead, shares are definitely going to be impacted after the company’s announcement and its rivals could capitalise on this opportunity. Thus, traders are advised to consider stocks of Microsoft, Amazon and Alphabet.