In the early morning of May 16, the KCNA issued a communique that North Korea had to suspend North-South high-level talks that were originally scheduled to be held on the 16th in view of the provocative and confrontational actions such as South Korea and the United States jointly conducting joint military exercises in recent days.
According to overseas network reports, South Korean Defense Minister Song Yongwu and South Korea’s joint commander Vincent Brooks had an urgent meeting for more than 40 minutes. The two sides finally agreed that “military exercises will be carried out according to plans. There is no disagreement.” The United States, which has created the current situation together with South Korea, should also think twice about the fate of the DPRK-US summit meeting on the agenda. According to today's U.S. news, U.S. State Department Spokesman Norrt responded by saying that the U.S. did not receive any formal notification from the DPRK regarding the possible cancellation of the U.S.-DPRK leaders’ meeting, nor did it receive official protests from the DPRK military exercise.
The overnight US index hit a five-month high. The 10-year US Treasury yield reached a new high since July 2011, rising to 3.1%. Stronger US dollar and U.S. debt still exerted great pressure on gold. Looking ahead to today, the deadline for NATFA negotiations is imminent, and the United States will have three economic data releases, which are expected to bring about considerable fluctuations in the financial markets.
The deadline for NAFTA is imminent The refueling currency “hangs a line”!
The deadline for the North American Free Trade Agreement (NAFTA) is imminent, after the Speaker of the U.S. House of Representatives, Ryan, said that if the Trump administration could not reach a new version with Mexico and Canada on Thursday (May 17) Under the NAFTA agreement, Congress may not be able to complete the approval process by the end of the year; in addition, Mexico and the United States may not be able to obtain steel and aluminum tax exemptions. The news of the progress of the NAFTA negotiations today will affect the trend of the Canadian dollar and the Mexican peso. Investors must pay close attention.
The U.S. economic data intensively announces fluctuations in the financial markets
The U.S. will announce the number of jobless claims in the week of May 12th on Thursday In May, the Philadelphia Fed manufacturing index and the monthly index of leading indicators for the April Consultative Conference were expected to be 215,000, 21.0, and 0.4%, respectively. The US dollar closed up 0.12% on Wednesday and closed above the 93 mark. If today's data is better than expected, it will provide good support for the US dollar; however, if the results deviate from expectations,
may cause fluctuations in financial markets. .
Gold Bullish Signals Bullish Can the bulls guard the important support of $1285?
Wednesday's gold closed at flat, but so far the rally is still limited and is still below the psychological threshold of $1300. Analysts believe that the price of gold fell below the 200 day moving average at $1306 and the previous low of $1301, which produced a strong bearish signal. The current key support level for gold is $1285 (61.8% retracement of the $1236-1366 range of gains, weekly chart cloud). The top) is under pressure and once it breaks down it will produce another negative signal. The oversold slow stochastic indicator suggests that gold prices may maintain long-term consolidation before eventually breaking below the $1285 support, while the 200-day moving average is expected to curb gains.