MARKET ANALYSIS 09/05/2018 by IMBI (Trump withdraws from Iran deal)

Please note that due to market volatility, some of the scenarios may have already been played out and the information below is not an investment advice.

Wall Street closes nearly flat: Following President Trump’s announcement that the US will be pulling out of the nuclear deal made with Iran in 2015, the Dow Jones and Nasdaq closed with miniscule gains, while the S&P 500 closed 0.03% lower.

Oil continues to climb: Following Trump’s announcement, oil prices continued to climb, as sanctions against Iran will most likely be restored. The black gold’s prices could be further affected when the Crude Oil Inventories report is released in the US today at 14:30 GMT.

Asia mostly lower: Markets in the East were seen lower this morning, as both the China50 and Nikkei indices registered losses. In contrast, the Hang Seng index was trading higher.

Volatility expected for USD: The monthly Producer Price Index report is due in the US at 12:30 GMT, potentially impacting the greenback.

New Zealand rate decision coming today: The Reserve Bank of New Zealand will be announcing its interest rates and monetary policy at 21:30 GMT, followed by a press conference with RBNZ Governor Adrian Orr at 22:30. The announcements and Orr’s words could generate volatility for the Kiwi Dollar.

Europe opens mostly flat: The FTSE and CAC both opened nearly flat, while the DAX opened 9 points higher.

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