De-risking middle east (oil), limiting commander and chief powers (gold) and Australia retail sales (AUD)
|Oil and De-risking the middle east
On the flip side to the middle east risk side of the equation, if the Militias honor the Theocracy request to stand down, and there is no visible attempt to disrupt oil supplies during the weekend, it may put further downside pressure on oil next week . But we may see that interplay gradual sneak onto the field today as oil prices are drifting lower in Asia in early trade
The question is, do you want to stay hedged or not for the weekend.
Limiting Trump's Commander in Chief powers
And with the house Democrats passing a measure to limit Trump's war power against Iraq, it would severely restrict his commander in chief forces. And outside of trade policy which the democrats don't disagree with and given the political gridlock in Congress, Trump could effectively become a lame-duck president, and we would see the middle east war risk premium fade to dust Not a bad thing really unless your long Gold.
Australian retail sales
Australian retail sales data for November was considerably better than expected, but this did nothing to bring AUD out of the doldrums. After a 15-pip spike to 0.687150 on the back of the data, AUDUSD came back offered. There are more pressing issues in Australia at the moment, with a sluggish domestic outlook, geopolitical uncertainty, and the devastating bushfires. For now, there is no real theme in either direction for AUDUSD while it trades, although I still like the catch up to the Yuan story.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.