ENERGY: Trump Headlines on Russia-Ukraine

• RES 4: 1.1696 1.618 proj of the Feb 28 - Mar 18 - 27 price swing 
• RES 3: 1.1625 1.500 proj of the Feb 28 - Mar 18 - 27 price swing
• RES 2: 1.1608 High Nov 9 2021
• RES 1: 1.1440/1573 High Apr 23 / 21 and the bull trigger  
• PRICE: 1.1339 @ 16:43 BST May 6
• SUP 1: 1.1269 20-day EMA and a key support
• SUP 2: 1.1144 High APr 3    
• SUP 3: 1.1047 50-day EMA and a pivot level     
• SUP 4: 1.0805 Low Apr 3  

Recent weakness in EURUSD appears corrective. The trend structure remains bullish - moving average studies are in a bull-mode position  signalling a dominant uptrend. The latest move down has also allowed an overbought condition to unwind. A resumption of gains would open 1.1608, the Nov 9 2021 high. Initial key support to watch is the 20-day EMA, at 1.1269. A break of this average would signal scope for a deeper pullback.

• MNI reports on the implications of a weakening labor market for Federal Reserve policy -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com

Continued from earlier bullet on the Oval Office press spray between US President Donald Trump and Canadian Prime Minister Mark Carney. 

• Opening the spray, Trump teases a “very big announcement” to be made regarding the Yemeni Houthis ahead of his Middle East trip next week – a potentially major breakthrough that could remove a major bottleneck to global shipping.
• Trump: “It is really, really positive and that announcement will be made possible Thursday or Friday or Monday before we leave… It’ll be one of the most important announcements that have been made in many years.”
• Axios reports the Houthis have yet to confirm Trump's claim that they have stopped attacking targets in the Red Sea.
• Trump adds later - slightly cryptically -, that "we're going to have a great announcement and I'm not nessesarily saying its on trade... An announcement that will be so incredible... so positive."
• Noticably more flustered than during previous comments on Canada, Trump addresses questions on when trade deals will be signed: "We don't have to sign deals. We could sign 25 deals right now if we wanted... They want a piece of our market. We don't want a piece of their market. We don't care about their market."
• Trump continues: "At some point over the next two weeks, I'll sit down with [Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent] ... Put very fair numbers down and say here is what we want," suggesting negotiating parties can take it or leave it.