Pay attention to President Trump's press conference on China! "Highlights for May 29 and Event Schedule"
President Trump expressed fierce anger at Twitter and signed an executive order to regulate SNS companies.
Additionally, the stock price fell as it was announced that he would hold a press conference on China.
We will be watching closely how the market will be affected in the future, but since Twitter is an indispensable presence in the investment world, the impact of the executive order on Twitter is of interest.
With President Trump’s tweets, it might be possible that the market won’t be tossed about anymore, but…
◎ Today’s Focus
1) China Sanctions
Yesterday, the National People's Congress concluded, and the Hong Kong National Security Law was enacted.
In response, President Trump has announced a press conference on China for the 29th.
Sanctions against China are expected, and the market is watching closely for risk-off sentiment.
In terms of sanctions, attention is on whether Hong Kong’s preferential treatment will be stopped.
Hong Kong is a hub for Asia’s trade, with many companies seeking tariff preferences.
Moreover, Hong Kong’s role as a financial market is highly influential; if trade and finance fail to function, it would affect not only the US and China but also Asia and the world, including Japan.
We will pay attention to today’s press conference by President Trump and reactions from other countries.
2) Weekend and Month-End Factors
Today is the weekend and end of the month.
Be careful as the pre- and post- day around the FX fix and London Fix can cause large moves.
Also, since responses from various countries regarding China may come over the weekend, there is a possibility of a gap at the start of the week.
I intend to adjust positions properly.
◎ Today’s Economic Calendar
President Trump’s press conference on China
Friday, May 29
15:00 EUR Germany Retail Sales
15:45 EUR France HICP (CPI) / GDP (Q1)
16:00 TRY Turkey GDP (Q1)
16:30 SEK Sweden GDP (Q1)
18:00 EUR Italy HICP (CPI)
18:00 EUR Euro Area HICP (CPI)
21:30 USD PCE Deflator
21:30 CADCanada GDP (Q1)
23:00 USD University of Michigan Consumer Sentiment Index
Saturday, May 30
00:00 USDPowell FOMC Chairman Speech
02:00 USD Baker Hughes Rig Count
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