The United States will urge its Group of Seven allies to increase pressure on China over the use of forced labor in its northwest Xinjiang province, home to the Muslim minority, a senior White House official said on Friday. Joe Biden will attend a meeting of the G7 advanced economies in Britain in June, where he is expected to focus on what he sees as a strategic rivalry between democracies and autocratic states, particularly China. Daleep Singh, Biden’s national security adviser and director of the National Economic Council, said the G7 meeting in Cornwall will focus on health security, a synchronized economic response to the COVID-19 pandemic, concrete actions on climate change. and “elevate shared democratic values within the G7”. “These are like-minded allies, and we want to take tangible and concrete actions that show our willingness to coordinate in non-market economies like China,” Singh, who is helping to coordinate the meeting, told Reuters in an interview.
Market projections of the week. Contact us here!
EURUSD closed buyer. Waiting for confirmation above 1.21 to continue buy up to 1.2130, 1.2150 and extensions. If the opening on Monday starts to sell, we will have a possible correction but we rule out sell scenarios above 1.2050.
GBPUSD closed seller in the week, below 1.39 the preference is seller. If Monday’s opening starts on sell, we will wait from 1.3860 for sell to 1.3850 and extensions. The alternative scenario is buy, only under confirmation from 1.39 to 1.3915 and extensions.
USDJPY closed buyer on Friday. Below 108.0 the preference is sell. We will expect to sell at 107.80 through 107.65 and 107.50. The buy scenario is only possible under confirmation above 108.0
USDCAD closed seller in consolidation in the minimum area. Below 1.25 we remain with a sell strategy. If the opening on Monday is buy, we wait again for the 1.25 levels to sell. Otherwise, we start with sell at 1.2460 to 1.2450.
USDCHF closed seller on its trading day on Friday. The dollar lost all its buy power for the week. This cross would enter its sell zone below 0.9130, possible sell would appear up to 0.9115 and 0.9103.
XAUGUSD XAUUSD commodities gold and silver closed their day with taking profit. They lose their buys power at current levels. The preference is buy on both metals. In silver we will wait 26.0 to return to buys until 26.10 and 26.20. Gold also lost its buy power below 1780.0. We will wait for the 1780.0 levels to buy up to 1785.0 and 1787.0. We rule out sell scenarios in both commodities.
Bitcoin closed its day above 50,000; we still do not see enough buyer positioning. The preference is to wait for an opening above 51,000 to consider buys , otherwise the correction (fall) could continue.