Fading political risk, constructive on crude – MM #145

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We start from the political storms that were only a storm in teacup for stocks. We then continue with oil and see some room for rises before previewing the events of the week.

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  1. Knee-jerk reaction to politics: A potential obstruction of justice by Trump resulted in one down-day in Wall Street. And that’s it. The effect was widespread but short-lived. Looking deeper, we can sometimes distinguish between the effects on stocks and the effects on commodities. We touch on trade, the Fed’s reaction and more.
  2. Oil on a roll: Talk about an extension of the OPEC / non-OPEC deal meets a surprising slowdown in oil production in the US. Can we expect new highs?
  3. Preview: The upcoming week features the FOMC meeting minutes, updates on GDP from the US and the UK and also more political mess.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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