US security chat to drive Oil prices – Here is why?

Frank Walbaum FX Strategies.Asia

Important news for the day

26th, 01:30 CET AU Consumer price index.
26th, 08:00 CET UK Consumer price index.

US security breach

In the United States, a chat to which an American journalist was apparently added by mistake continues to cause heated debate. It was about retaliatory attacks on the Huthi rebels in Yemen. Trump adviser Mike Waltz has now taken responsibility for this and considers the matter to be closed. President Trump has now backed his colleague, and there will now be a hearing on this in the Intelligence Committee. At present, the situation could be one reason why oil prices are rising again.

Market talk

Yesterday, stock markets continued moving to the upside and the way in the S&P 500 index continues to look positive. Based on the daily chart the price could reach the price level at 5,850. This is where the 50- moving average might come into play acting as a resistance area. The Nasdaq currently paints a similar picture, whereas the German DAX shows signs of some weakness. After the positive momentum yesterday the market could be poised to fall. A break of the zone at 22,850 might ignite further downside momentum.

Tendencies in the markets

Equities positive, USD stronger, cryptos positive, oil higher, Silver positive, Gold positive, JPY stronger.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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