The US dollar is surging — and that could soon place an ‘unbearable burden’ on the oil market, analyst says

  • Investors are currently seen weighing bullish factors that include potential supply disruptions to Iranian crude exports against more bearish indicators, such as broad greenback strength and a ramp-up in production by OPEC and its allied partners.
  • Typically, crude futures trade inversely to the greenback. A stronger dollar makes oil more expensive to much of the world, so oil prices tend to fall as the dollar rises.
  • “It feels like self-harm at the moment in the oil market,” Paul Hickin, EMEA oil analyst at S&P Global Platts, told CNBC’s “Squawk Box Europe” on Monday. Read @ https://www.cnbc.com/2018/08/13/oil-prices-dollar-strength-could-soon-become-an-unbearable-burden.html?__source=twitter%7Cmain

Market wants ‘decisive action’ so Turkey needs to raise rates: Yale economist Stephen Roach

China may well offer financial help to Turkey, but it will not turn around the troubled lira

The Chinese government may well offer help to Turkey to build a bridge to another country hit by US trade sanctions – There is a decent chance that China will offer some financial assistance to Turkey, including buying some yuan-denominated bonds that it is expected to issue, as Ankara reaches out for “new friends” to defend its currency and economy amid an escalating conflict with the United States, analysts said. Read @ https://www.scmp.com/business/banking-finance/article/2159507/china-may-well-offer-financial-help-turkey-it-will-not-turn
WHAT IS THE USD SAYING?
USD IS UP, UP AND AWAY!! That’s what the market is going for. Cup & Handle bullish formation is in-tact for the next rally for the USD. Commodities, Oil & Energy are all expensive and time to go down, Gold is also not spared.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.
  1. There will be some minor news from Australia and China this morning but little or no volatility is expected.
  2. 2.00pm – German GDP will create good volatility – expected to be better then previous month.
  3. 2.45pm – France & Euro will release their CPI data – Volatility is expected.
  4. 4.30pm – UK will release their average earnings – GBP expected to be volatile.
  5. 5.00pm – EUR will release their GDP data and is expected to be no change. SELL Focus.
  6. 5.00pm – German and EURO will release their ZEW economic data – It’s a leading indicator of economic health – investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity; expected to be no change.
  7. Mortgage delinquencies data will be release tentatively and is a leading indicator for US – is expected to be good.

Overall the market is still in favor for the USD.  Always keep teh money management in-tact.

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.

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