US Futures Rise the Day After Trump’s Iran Decision, Oil Soars

Geo-Political Waves and Anxious Investors, Asian Equities Tentative Early

Asian and European markets have been rather cautious early this morning and lost value after the tentative results on Wall Street yesterday. Geopolitical news has dominated the investment landscape. The U.S decision to walk away from the Iranian nuclear deal has raised plenty of eyebrows. And China, Japan, and South Korea are holding a summit today, in which economics and North Korea are getting plenty of attention. US futures set to open higher. US production price index was released below analyst expectations at 2.6%, Core PPI came out in line with analysts’ expectations at 0.2%.

German Industrial Production data was slightly stronger than expected yesterday, and Italian Retail Sales will be released soon. Wall Street continues to prove uneasy, and American investors are still looking for equilibrium due to the strong U.S Dollar.

Major Currencies Testing Technical Limits, Consumer Price Index Tomorrow

The Yen, Euro, and Pound continue to be tested in forex. Major currencies are near important technical limits against the U.S Dollar. Producer Price Index figures will come from the States today, and tomorrow’s Consumer Price Index reading will cause waves. The Federal Reserve is expected to raise its interest rate in June already, but if U.S data remains strong it will increase the likelihood of an additional rate hike in the early fall – potentially September.

Energy Sector and Iran Conversation, Crude Oil Testing Highs this Morning

U.S Crude Oil values have jumped higher and the commodity is comfortably above 70.00 Dollars a barrel. Supply numbers will come from the States today, but the topic of conversation will be Iran and how renewed sanctions from the U.S will impact the energy sector.

Inflation Numbers from U.S Coming, Crude Oil Inventories Data

The Producer Price Index from the U.S will get the attention of traders upon its release at 12:30 GMT.

• 8:00 AM GMT, Italy, Retail Sales
• 12:30 PM GMT, U.S, Producer Price Index
• 14:30 PM GMT, U.S, Crude Oil Inventories

Yaron Mazor is a senior analyst at SuperTraderTV.

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