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Main » 2019 » April » 23 » Forex traders trading ideas for today 04/23/2019: US sanctions and their impact on the yen.
10:24
Forex traders trading ideas for today 04/23/2019: US sanctions and their impact on the yen.

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The US currency against the yen during the Asian session on Tuesday fell by 25 basis points, reaching a weekly low at 111.64. Pressure on the dollar continues to provide weak statistics from the US, and rising geopolitical tensions in the world, linked to the US President's decision to impose sanctions against all countries that continue to buy Iranian oil after May 2, 2019. Published on Monday, data showed that home sales in the secondary market in the US declined in March by 4.9% to 5.21 million. 

 

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Some pullback was expected after the sharp rise in February, but the decline was greater than expected. One of the main problems of the US real estate market is the fact that the decline in mortgage interest rates, which are conventional 30-year mortgage fell from 5% to 4.27%, no longer increases sales. Pressure on the dollar and can have a strengthening of the yen, which has a more pronounced protective properties. According to recent reports, the Chinese authorities oppose unilateral US measures on countries - importers of Iranian oil. Beijing maintains trade and economic contacts with Iran "solely on rational and lawful, in accordance with the principles of open and transparent communication." There is a risk, China's position is similar to jeopardize planned for the coming weeks, the signing of a trade agreement with the United States. In this scenario, the USDJPY will continue to decline to 110.00.


USDJPY SellLimit 112,00 TP 110,00 SL 112,40


Brent crude on Monday added more than 3% to the local Haya at $ 73.84 per barrel. Last time at this mark the asset was in October last year. As it became known on Monday, US President Donald Trump has decided not to extend the period of exemption from sanctions against those countries which continue to buy Iranian oil. Recall, the United States made an exception for a period of 180 days for the eight countries importing hydrocarbons from Iran to prevent the rise in oil prices in the world, as well as to give time to search for alternatives in November 2018. Validity of exemptions will end on 2 May. In March the biggest buyers of Iranian oil remained China - it imported almost two thirds of all volumes, or 613 thousand barrels per day.. . Another 258 thousand barrels per day India purchased 180 thousand -. Japan, 97 thousand. - Turkey. Replace Iranian oil exports which for a year has fallen by 2.5 times and amounted in April, more than 1 million barrels per day, in addition to Saudi Arabia, the United Arab Emirates are ready, as well as the United States itself. However, it will take time, and the market will inevitably face a supply shortage until then. In addition, there is a risk that Tehran in response to the US decision to return to the policy of military threats. The Iranian army can close the Strait of Hormuz, through which Middle Eastern countries, including Saudi Arabia, UAE and Kuwait, the daily pass tankers carrying on board about 20 million barrels of oil -. One-third of world exports. In this scenario, the oil market will continue to grow. in addition to Saudi Arabia, the United Arab Emirates are ready, as well as the United States itself. However, it will take time, and the market will inevitably face a supply shortage until then. In addition, there is a risk that Tehran in response to the US decision to return to the policy of military threats. The Iranian army can close the Strait of Hormuz, through which Middle Eastern countries, including Saudi Arabia, UAE and Kuwait, the daily pass tankers carrying on board about 20 million barrels of oil -. One-third of world exports. In this scenario, the oil market will continue to grow. in addition to Saudi Arabia, the United Arab Emirates are ready, as well as the United States itself. However, it will take time, and the market will inevitably face a supply shortage until then. In addition, there is a risk that Tehran in response to the US decision to return to the policy of military threats. The Iranian army can close the Strait of Hormuz, through which Middle Eastern countries, including Saudi Arabia, UAE and Kuwait, the daily pass tankers carrying on board about 20 million barrels of oil -. One-third of world exports. In this scenario, the oil market will continue to grow. through which Middle Eastern countries, including Saudi Arabia, UAE and Kuwait, the daily pass tankers carrying on board about 20 million barrels of oil -. one-third of world exports. In this scenario, the oil market will continue to grow. through which Middle Eastern countries, including Saudi Arabia, UAE and Kuwait, the daily pass tankers carrying on board about 20 million barrels of oil -. one-third of world exports. In this scenario, the oil market will continue to grow.


UKOIL BuyLimit 73,50 TP 76,50 SL 72,80


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets.

 

 

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