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News, Trends, & Analytics 17.09.2019

Drone attacks in Saudi Arabia spiked the price of oil

Facebook’s Libra project is still being scrutinized, Boris Johnson stands accused of not bringing enough to the table, & Drone attacks on a Saudi oil facility has shaken up the commodity.

 

News

A drone attack on Saudi Arabia’s largest oil facility that triggered the biggest jump in oil prices in almost 30 years was carried out with Iranian weapons, a Saudi-led coalition said on Monday. Affect Brent


Britain’s Boris Johnson said on Monday that a Brexit deal was beginning to emerge, but the EU said he offered nothing to break the impasse during a visit to Luxembourg where he was harangued loudly by protesters and rebuked for trying to shift the blame. Affects GBP


Facebook’s attempt to drag cryptocurrencies into the mainstream with its Libra digital coin met with further scepticism on Monday when an ECB board member said such “stablecoins” posed serious risks. Affects Facebook


U.S. and Chinese deputy trade negotiators are expected to meet on Friday, with senior negotiators likely to meet about a week and a half later, U.S. Chamber of Commerce CEO Tom Donohue said on Monday, citing a conversation with U.S. Trade Representative Robert Lighthizer. Affects the S&P 500


The European Union may need to scale down plans to boost growth and mitigate the social impact of a slowdown if it fails to quickly agree on a long-term budget, European officials said on Monday, when commenting on Germany’s push to restrict spending. Affects EUR

 

Calendar

09:00 GMT

Germany’s ZEW Economic Sentiment for September will be released. The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. Affects EUR.

 

Technical Analysis

Brent

The attacks on the Saudi oil facilities has rocketed the price of black gold.While the U.S. is attempting to counteract the shortage with its own excess has brought some stability to the new highs.

Its 1H TF has shown a Three White Knights pattern, however, the price’s uptrend is approaching its new resistance level around 68.3.

DAX

This German index’s 1H TF has shown a Three Inside Up pattern signaling an uptrend, while also being in a tight channel.

GBP/USD

Cable’s 1D TF has shown an Evening Star signal, indicating a likely downtrend.

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