• The US seems to weigh their options regarding an attack on Syria, as President Trump tweeted that the timeframe is still uncertain.
• The White House blurred the picture even more as in a statement yesterday it was mentioned that “no final decision has been made”.
• Russia called for a Security Council meeting on Friday in order to re-discuss the issue and urged for calmness.
• Theresa May, on the other hand, seems to have the support of her cabinet to take action in response to the chemical attack.
• Risk appetite seems to gain ground, hence the USD seems to be gaining ground against safe havens currently. Should there be further positive headlines we could see the USD strengthening.
- Support: 106.95(S1), 106.43(S2), 105.65(S3)
- Resistance: 107.90(R1), 108.57(R2), 109.20(R3)
Bitcoin rose yesterday and pulled a number of crypto’s with it
• Bitcoin surged yesterday rather unexpectedly providing a parallel effect on Lite Coin, Etherium and Ripple.
• Fundamentals seem to be unclear, however, media suggests that the surge was prompted by investors which shorted the crypto, were squeezed as Bitcoin remain stable.
• Analysts consider that there is a positive feeling among traders in the past few days which could open room for higher grounds.
• We see the case for the Bitcoin to continue to rise, as long as positive headlines reel in.
- Support: 7425(S1), 6235(S2), 4115(S3)
- Resistance: 8895(R1), 9775(R2), 11355(R3)
Today’s other economic highlights
• Germany: Final HICP rate for March, Survey: +1.5% YoY, Prior: +1.5% YoY, 06:00 GMT, could be positive for EUR.
• Eurozone: Trade Balance for February, Survey: +20.2B, Prior: +19.9B, 07:30 GMT, could support the EUR.
• US: IEA Monthly Report, 08:00 GMT, could affect oil prices U. Michigan preliminary Consumer Confidence for April, Survey: 100.5, Prior: 101.4,14:00 GMT, could weaken the USD.
• JOLTS Job Openings for February, Survey: 6.173M, Prior: 6312M, 14:00 GMT, could weaken the USD.
• US Baker Hughes Oil Rig Count, Survey: N/A, Prior: 808, 17:00 GMT, any reading>808 could weaken Oil prices.
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