Macron makes use of the official state visit to the States in an attempt to pave the way for a new, more expensive nuclear deal with Iran, as the 12th May deadline for Trump to restore U.S. economic sanctions on Tehran is close. On the other side, Tehran warns that they might quit a treaty designed to stop the spread of nuclear weapons if the U.S. President abandons the nuclear accord Iran signed with world powers in 2015.
Oil prices are steady, falling back from three-year highs reached the previous session as rising U.S. fuel inventories and production weighed on an otherwise bull-run. Official weekly U.S. petroleum data having a high impact on markets are to be published on Wednesday.
Gold prices fell on Wednesday and are likely to fall further, nearing their recent two-week lows, hurt by rising US Treasury Yields.
Firm yields raise Dollar to a four-month high, continuing its rise without pause through much of the past week. The dollar index against a basket of six major trade partners rose 0.4 percent to 91.093.
Sterling fell against the dollar on Wednesday, stacking near one-month lows, while GBP/EUR exchange rate has been static mainly due to concerns about UK GDP Data to be announced on Friday.
There was a trend reversal in Crypto Market as 8 out of 10 top cryptos registered losses over the past 24 hours, after a number of days of profitable activity supported by the possible entry of major financial institutions into the space, such as Goldman Sachs which announced the first hire in cryptocurrency markets unit, in the context of finding ways for its clients to invest in cryptocurrencies.
Sources: Reuters, CNBC, Investing.com
PLEASE NOTE The information above is not investment advice.