The ceasefire agreement between Israel and Gaza has come into effect.
- The US Treasury Department proposes to set a global minimum corporate tax rate of 15%.
- The U.S. Department of the Treasury requires large electronic money transfers to be reported to the IRS.
- The Federal Reserve will release a report on US digital currencies this summer.
Weak demand for inflation-protected bonds shows confidence in the Fed's inflation theory.
- Fed's reverse repurchase activity surges, as huge amounts of cash are looking for exits.
- The West has agreed to lift major sanctions on Iranian oil, etc.
- The number of new confirmed cases in India in just one day has dropped below 300,000 for four consecutive days.
Today's important facts and data
- President of the European Central Bank Lagarde gave a speech.
- US May Markit Manufacturing and Services Initial Value PMI, the market is expected to be the same as the previous value.
- Fed Bostic and Barkin attend the meeting. The next day, Fed Daley will give a speech.
- The total number of US oil rigs for the week to May 21 is announced, and is expected to continue to increase to 356.
Comment on Gold on May 21, 2021:
‼️In yesterday's trading session, after retesting the 1865 price area many times, but the price did not break through and went up 1883. Closed yesterday's session with a bullish candle at 1876. With today's event Through this rally, precious metal Gold has not shown a bearish signal and still has the possibility of going up, so at the beginning of today's session, we will be inclined to buy this metal.
- Switching to the H4 time frame we can see that this precious metal has a support area around 1865 as well as MA20. So in today's session we can establish a buy position around this price range from 1865-1869. With the target will be the nearest "old peak" around 1888. Then liquidate the order and wait for the next signals.
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