The European stock markets opened this morning with price declines of 1.2%, following a significant negative trend which was recorded this morning in the Asian stock markets,and after the falling prices last Friday on Wall Street.

The US Treasury Secretary Warns

US Treasury Secretary Jacob Lew has warned that the global economy will be affected if Britain will vote in favor of leaving the EU on June 23.
The US Treasury Secretary said that It is in the interest of Europe, the UK, the global economy and the geopolitical that Britain will remain consolidation.
The recent surveys show that the vote will be tight.
In the meantime, the British currency was down for the second consecutive week.

Encouraging employment data in the US

The US Labor Department published the number of initial jobless claims.
There were 264 thousand claims, compared to 268 thousand claims in the previous week.
The figure surprised the analysts who expected 270 thousand claims.

The contracts Futures indices on Wall Street signalling about a decline with the opening of the trading day in New York.

The European Central Bank President Mario Draghi warned from the damage of the decline in economic activity of the manufacturing output in Europe.
Draghi said the central bank must ensure that the goals he has set, for example ,keeping the inflation target will be achieved.

Germany export rate for April was unchanged , better from the forecast of a decline of 0.6%.
On the other hand, the country imports was down by 0.2%, versus an expected increase of 1.2%.
In general, Germany trade balance was better than expected, which explains the strengthening of the Euro, which makes it difficult for stock exchanges on the continent.

EUR/GBP

The main trend of the pair is an uptrend.
We can try and ride on this main trend by an entry on a lower time frame.
On an hour chart we can see the diagonal support line together with a bullish engulfing pattern that was created.

For Forex traders:
Buy between the levels of : 0.7850 – 0.7880.
Stop loss point : 0.7830.
Take profit point : 0.8270.

For Binary options traders:
A call option between the levels of : 0.7850 – 0.7880.
Expiry time : June 17.

The gold continues to climb

Yesterday the gold recorded a strong increase of 1.2%, at this time this morning ,the gold is trading a slight increase of 0.2%, around the price level of 1264.5 per ounce.

Canada building permits for April are below the early forecasts, with a reading of 0.3% compared to expectations of 1.6%.

A positive opening is expected on Wall Street

Wall Street futures signaling on a positive trend at the opening of the trading day in the US, in contrast to the negative trend in the European stock exchanges.