US crude surges 3.6%, settling at $70.53, after State Dept says oil buyers must cut Iranian imports to zero

  • Oil prices spiked after the State Department signaled the Trump administration will take a hardline approach to cutting off Iran’s oil exports.
  • A State Department official told reporters the administration expects oil buyers to completely cut off purchases of Iranian supplies in early November.
  • Oil prices were already facing upward pressure due to declining production in Venezuela and elsewhere at a time of high global demand. Read More @ https://www.cnbc.com/2018/06/26/oil-surges-after-state-dept-orders-buyers-to-cut-iranian-imports.html

New BOE Official Haskel Sees Risks in Hiking Rates Too Fast

Jonathan Haskel, who joins the Bank of England’s Monetary Policy Committee in September, said he agrees with the central bank’s “broad direction” on interest rates but noted that there are risks in moving too fast with tightening. The pound fell as Haskel made the comments in written testimony to lawmakers as part of his confirmation hearing on Tuesday. BOE policy makers have said that interest rates will need to rise at a limited and gradual pace if the economy evolves as they expect. Read More @ https://www.bloomberg.com//news/articles/2018-06-26/new-boe-official-haskel-sees-risks-to-moving-too-fast-on-rates

WHAT IS THE USD INDEX SAYING?

The USD is forming a Bullish Flag on a H1 Chart – ore upside focus still remains as Trump cleans up the tariff and make America Great again. Trade war continues the market remains fragile.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 2.00pm – UK will release nationwide HPI – It’s a leading indicator of the housing industry’s health because rising house prices attract investors and spur industry activity – expected to be good.
  2. 4.30pm – BOE Carney speaks and at the same time they will release Financial stability report  – GBP Volatility expected, we buy GBP.
  3. 8.30pm – US will release Durable goods orders and preliminary wholesale inventories – both are expected to be lower – we maintain sell on PULLBACK.
  4. 10.00pm – US will release home sales and is expected to be good; little or no movement expected.
  5. 10.30pm – Crude oil inventories – expected to be in favor for the oil and USD SELL.

The market still remains fragile with China and US deadlock on Trade matters – EUROPE & CANADA also joining in the trade war against the US. The currency market is looking for direction.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

FINWAZE makes no representations or warranties, express or implied, in relation to this website (www.finwaze.com) or the information and materials provided on this website. It does not also warrants that this website will be constantly available or available at all times. The information on this website is complete, true, accurate or non-misleading. Nothing on this website constitutes, or is meant to constitute, advice of any kind. FINWAZE shall not be liable for any damage or injury, whether direct or indirect, that it may cause in relation to the contents of, or use of, or otherwise in connection with this website. By using this website, you agree to the reasonableness of the limitations of liabilities herein set out and further agree to assume whatever risk, loss, damage or injury in may cause in connection to the use of this website. No claims shall be brought personally against the officers and employees of FINWAZE, in connection with the use of this website. The user of this website agree to the limitations of warranties and liabilities herein set out to protect the officers, employees, agents, subsidiaries, successors, assigns and sub-contractors as well as FINWAZE. Any unenforceable provisions that may be found on this website under applicable law shall not affect the enforceability of the other provisions.

Legal Documents  |  ©2021 Finwaze Philippines

Pin It on Pinterest

Share This

Log in with your credentials

Forgot your details?