Hello,

The European single currency got more support from investor’s risk appetite, but this support quickly evaporated with the registration of new COVID-19 with the re-opening of global economies, which increased fears of a second wave of infections.

For three consecutive trading sessions, the EUR/USD pair is moving in a downward correction range that pushed it towards the 1.1212 support at the end of last week’s trading, before closing trading around the 1.1260 level, and the correction came amid sell-offs from the 1.1422 resistance, its highest level in three Months. The European single currency got more support from investor’s risk appetite, but this support quickly evaporated with the registration of new COVID-19 with the re-opening of global economies, which increased fears of a second wave of infections. This situation contributed to gains for the US dollar as a safe haven, even with the pessimistic expectations from the Federal Reserve at its meeting last week.

On the other hand, European indices are under pressure. The European Commission has reported April trade balance at 1.2 billion euros surplus (vs 25.5 billion euros surplus in March).

Asian indices all closed in the red. This morning, official data showed that China’s industrial production grew 4.4% on year in May (vs +5.0% expected) while retail sales fell 2.8% (vs -2.3% expected).

WTI Crude Oil Futures are on the downside. The number of U.S. oil rigs fell to 199 as of June 12 from 206 a week ago, while oil rigs in Canada remained at 7, according to Baker Hughes.

On the other hand, another news is, CNBC reported that, The users of Robinhood haven't been happy lately, they're actually getting together and suing the company for negligence over a series of outages that left them unable to trade on the day with "the highest single-day market gains in recorded history” according to the lawsuit.

But, With Robinhood struggling, their biggest rival Webull is standing up and taking them on. 

Now offering 2 free stocks to new users who join via special invite links like this one, this is double the free stock giveaways that Robinhood offers. 

https://www.technews.city/2020/05/robinhoods-unhappy-users-targeted-by.html

Many credit Robinhood's success to their 'free stock for new members' offer - so will it work twice? Probably.

Thank you.