Up from $67.75 last week The price of crude oil is settling the day at $68.99. That is up $0.40 on the day or 0.58%. The contract is also up on the week. Last Friday, the contract settled at $67.75.
But will start at 10% The WSJ is reporting that according to a senior administration official, Pres. Trump is expected to announce additional tariffs on $200B of Chinese goods as early as Monday.
Pair stalled at the topside trend line earlier in the day The GBPUSD tested a topside trend line earlier in the day and stalled against that trend line not once but twice () . That helped to put a lid on the pair. The price has been pushing lower since then.
Of course trade news can happen at any time The key events and releases in the new week will include news on any of the trade relationships with the US including US and Canada, US and China, and US and the EU. News can happen at any time. Risk event.
That’s not going to help Two weeks ago, Argentina was asking the IMF to speed up payments. ForexLive
How to navigate a path through an upcoming risk event A risk event is any market event that the market is anticipating. For example, this could be an anticipated rate statement, a speech from a central banker, or a long awaited trade deal announcement like Brexit or Nafta. There are two key ways to trade…
Weekly US oil drilling rig count data Drilling picks back up but has stalled for a few months. ForexLive
Manafort isn’t going to sell out Trump NPR reports that Manafort’s cooperation agreement with the special counsel does not include matters involving the Trump campaign.
Technicals also contributing to selling after move higher this week. , the EURJPY tested a key technical target at the 200 day MA and 50% retracement.
100 hour MA is the first key MA target The EURUSD has tumbled lower and moves toward the 100 hour MA at 1.16274. Just below that is the 50% at 1.16235. The 200 hour MA is at 1.16122.