Two bombs damaged an oil pipeline in Colombia, China extended an olive branch to the U.S., & Draghi’s ECB will supply continued stimulus.
News
Two overnight bombings have damaged Colombia’s Cano Limon pipeline, state-run oil company Ecopetrol said on Thursday, one spilling “highly volatile” oil into a river in the eastern province of Norte de Santander. Affects Brent
The United States on Thursday welcomed China’s promise to buy agricultural goods while maintaining the threat of U.S. tariff hikes as the world’s two largest economies sought to prepare the ground for upcoming in-person talks. Affects USD
European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing eurozone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump. Affects EUR
Britain’s decision to send warships to the Strait of Hormuz has helped to stabilize commercial shipping through the critical chokepoint weeks after Iran seized a UK-flagged tanker in the region, a top British navy official said on Thursday. Affects Brent
Google agreed to pay close to 1 billion euros ($1.10 billion) to French authorities to settle a fiscal fraud probe that began four years ago in a deal that may create a legal precedent for other large tech companies present in the country. Affects Google
Calendar
12:30 GMT
The U.S. Retail Sales (MoM) for August will be released. Retail Sales measure the change in the total value of sales at the retail level. Affects USD.
Technical Analysis
Brent
The bombings of the pipeline in Colombia and Britain’s use of their navy to stabilize the shipping through the Strait of Hormuz have different impacts on the price of oil.
Looking at the 4H TF, a Three Inside Up pattern has appeared indicating a trend reversal.
EUR/USD
This pair has shown a Three Outside Up pattern on its 4H TF, signaling a strong uptrend.
GBP/AUD
This currency pair’s 1D TF has shown an Abandoned Baby Bullish signal, showing a possible shift to an uptrend.
