{"id":155218,"date":"2019-09-11T10:15:20","date_gmt":"2019-09-11T14:15:20","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=155218"},"modified":"2019-09-11T09:01:58","modified_gmt":"2019-09-11T13:01:58","slug":"us-oil-affected-by-bolton-departure","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/us-oil-affected-by-bolton-departure\/","title":{"rendered":"US Oil Affected By Bolton Departure"},"content":{"rendered":"
September 11, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

The US President has bid goodbye to another national security adviser.\u00a0<\/strong><\/p>\n

This comes after an array of internal disputes over Russia, Iran, North Korea, and several other foreign policy issues.<\/p>\n

President Trump took to Twitter, announcing:\"\"<\/a><\/p>\n

John Bolton, on the other hand, claims he offered his resignation to Trump on Monday<\/strong>\u00a0night first. The former adviser tweeted:<\/p>\n

\"\"<\/a><\/p>\n

Bolton Was Splitting White House<\/strong><\/h2>\n

The 70-year old now-former national security adviser to the White House was hawkish on many issues.<\/p>

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That being said, he did seem to manage\u00a0to keep a tight rein on Pyongyang\u2019s plutonium production<\/strong>\u00a0during his tenure under President Bush.<\/p>\n

In the Trump era, however,\u00a0there was a breakdown of attempts to schedule peace talks with Afghanistan last weekend.\u00a0<\/strong>This came as a result of\u00a0internal foreign policy disagreements, indicating the President\u2019s hard-line stance against his advisers.<\/p>\n

After Monday, when\u00a0North Korea\u2019s Kim Jong provoked the US once again by testing two more missiles<\/strong>, the Trump-Bolton era came to an end.<\/p>\n

Bolton and Trump disagreed on many US foreign policy measures. These included how to deal with provocations from North Korea and Iran. And, most recently, they disagreed on negotiations for a peace accord with the Taliban. Sources say that\u00a0Bolton, who was notoriously pro-war, was even excluded from meetings related to Afghanistan.<\/strong><\/p>\n

Bolton seems to have played an important role in the\u00a0worsening of tensions between the US and, North Korea, Venezuela, Iran, and Russia.<\/strong>\u00a0The two men argued for a long time, with Trump expressing his dissatisfaction over Bolton\u2019s hawkish stance and policy splitting for months.<\/p>\n

This is now the third national security adviser Trump has fired. The position is vacant, for now. But, Charles Kupperman, Bolton\u2019s deputy, will serve for a week or so until the President picks his new \u201cally\u201d.<\/p>\n

How Will A Dovish Replacement Help Trump?<\/strong><\/h2>\n

The internal division is widening. And\u00a0Trump is somewhat forcing a more dovish stance<\/strong>\u00a0when it comes to foreign policy.<\/p>\n

Therefore, the markets will start looking at the run-up to the 2020 election with a different lens.<\/p>\n

North Korea\u2019s first vice foreign minister Choe Son Hui has stated that her country is\u00a0prepared to resume talks<\/strong>. And that could be Trump\u2019s chance to offer an alternative,\u00a0softer path to denuclearisation<\/strong>\u00a0now that Bolton is out of the way.<\/p>\n

WTI Oil Takes a Breather but Looks Bullish Medium-Term<\/strong><\/h2>\n

Risk assets have been on a good run<\/strong>\u00a0lately. This is especially true given the latest geopolitical deescalations. With that said,\u00a0the shift in commodity-based currencies<\/a>\u00a0and oil itself has allowed market participants to gain.<\/p>\n

The firing of Bolton, however, has halted\u00a0the oil rally<\/strong>\u00a0for now. His dismissal seems to be a sort of healing potion to further geopolitical tensions.<\/p>\n

Despite the recent cap,\u00a0WTI oil still looks bullish in the medium term<\/strong>. The break outside the descending triangle could offer more long opportunities, with short-term ones depending on\u00a0the EIA report<\/a>\u00a0later today.<\/p>\n

\"wti<\/a><\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex The US President has bid goodbye to another national security adviser.\u00a0 This comes after an array of internal disputes over Russia, Iran, North Korea, and several other foreign policy issues. President Trump took to Twitter, announcing: John Bolton, on the other hand, claims he offered his resignation to Trump on Monday\u00a0night first. The […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-155218","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=155218"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155218\/revisions"}],"predecessor-version":[{"id":155225,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155218\/revisions\/155225"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=155218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=155218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=155218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}