{"id":127617,"date":"2018-05-25T07:42:57","date_gmt":"2018-05-25T11:42:57","guid":{"rendered":"http:\/\/countingpips.com\/?p=127270"},"modified":"2018-05-25T07:42:57","modified_gmt":"2018-05-25T11:42:57","slug":"sentiment-mixed-as-north-korea-offers-olive-branch","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/05\/sentiment-mixed-as-north-korea-offers-olive-branch\/","title":{"rendered":"Sentiment mixed as North Korea offers olive branch"},"content":{"rendered":"
May 25, 2018<\/div>
\r\n<\/div><\/div>

Article by ForexTime<\/a><\/p>\n

It\u2019s remarkable that just hours after President Donald Trump suddenly axed his highly anticipated June summit with Kim Jong-Un in Singapore, North Korea unexpectedly offered an olive branch.<\/p>\n

North Korea has stated that they remain open-minded in giving \u201ctime and opportunity\u201d to the United States and are willing to meet Trump \u201cat any time in any way\u201d. With the nation also calling the planned summit \u201cdesperately necessary\u201d to mend the US – North Korea relationship, the doors could still be open for a summit to take place. Markets will be paying very close attention to how the Trump administration responds to North Korea\u2019s conciliatory stance. Any further signs of de-escalating tensions between the US and North Korea could revive risk sentiment.<\/p>\n

Asian stocks were on the defensive during early trade, as North Korea\u2019s measured response to the abrupt summit cancellation slightly soothed investor jitters. European markets rebounded after the olive branch from North Korea and this improving sentiment could support Wall Street in the afternoon.<\/p>\n

Sterling quivers as GDP disappoints<\/strong><\/p>\n

This has already been a terrible trading week for the Pound, as cooling inflation figures dented expectations over the Bank of England raising UK interest rates in August.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

Matters worsened on Friday following reports that UK economic growth dropped to its lowest rate since 2012. UK GDP growth slowed to 0.1% in the first quarter of 2018 according to the second estimate, which immediately damaged buying sentiment towards the Pound. Today\u2019s disappointing growth figures may weigh heavily on sentiment while also forcing investors to scale back bets on a BoE rate hike anytime soon.<\/p>\n

Taking a look at the technical picture, the GBPUSD remains bearish on the daily charts as there have been consistently lower lows and lower highs. Repeated weakness below the 1.3400 level could invite a decline towards 1.3320 and 1.3250, respectively.<\/p>\n

\"\"<\/p>\n

Dollar steady ahead of Powell speech<\/strong><\/p>\n

King Dollar was steady against a basket of major currencies this morning ahead of the upcoming speech from Fed Chair Jerome Powell.<\/p>\n

He will be addressing financial stability and central bank transparency before the Sveriges Riksbank Conference in Stockholm later today. The Greenback could appreciate further is Powell sounds hawkish and offers fresh insight into the Fed\u2019s monetary policy tightening path beyond June. With the widening interest rate differential still favouring the Dollar and expectations elevated over an interest rate hike in June, Dollar strength is likely to remain a dominant market theme.<\/p>\n

Taking a look at the technical picture, the Dollar Index remains heavily bullish on the daily charts. A decisive breakout above 94.00 could encourage an incline higher towards 94.20 and 94.50, respectively.<\/p>\n

Is the Oil bull run over?<\/strong><\/p>\n

\n

\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime It\u2019s remarkable that just hours after President Donald Trump suddenly axed his highly anticipated June summit with Kim Jong-Un in Singapore, North Korea unexpectedly offered an olive branch. North Korea has stated that they remain open-minded in giving \u201ctime and opportunity\u201d to the United States and are willing to meet Trump \u201cat […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-127617","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=127617"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127617\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=127617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=127617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=127617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}