{"id":18877,"date":"2011-01-31T08:20:09","date_gmt":"2011-01-31T13:20:09","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18877"},"modified":"2011-01-31T08:20:09","modified_gmt":"2011-01-31T13:20:09","slug":"egyptian-unrest-boosts-crude-oil-gold-and-the-yen","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/31\/egyptian-unrest-boosts-crude-oil-gold-and-the-yen\/","title":{"rendered":"Egyptian Unrest Boosts Crude Oil, Gold and the Yen"},"content":{"rendered":"

By Yan Petters<\/strong><\/p>\n

Last week\u2019s most notable trends <\/a>were the bearish crude oil and the bearish Japanese yen. And then, with a blink of an eye the trends have sharply reversed. By Friday evening, it was quite clear that the protests in Egypt will only escalate, and that political turmoil is inevitable.<\/p>\n

This had two main affects; one, considering that the Egyptian unrest was triggered by the political turmoil in Tunisia, that the unrest in Egypt will spread to crude-producing parts of the Middle East, and as a result will have a significant impact on oil supplies from the region. As a result oil prices have rallied, and crude oil reached as high as $90.80 a barrel<\/a>.<\/p>\n

Second, this has also boosted the demand for risk-aversion in the market, and as a result spurred demand for safe-have currencies, such as the yen. Since Friday, the yen gained about 100 pips vs. the U.S. dollar, 200 pips vs. the euro and 170 pips vs. the British pound.<\/p>\n

As for today, traders are advised to keep following all the developments from the Middle East, as these are likely to have a large impact on the market for the near-future.<\/p>\n

Here are today\u2019s leading global economic releases:<\/p>\n

13:30 GMT, Canadian Gross Domestic Product (GDP) \u2013 The GDP report measures the change in the value of all goods and services produced by the economy over the last month, as opposed to a year before. If the end result will beat analysts\u2019 expectations for a 0.2% growth, the CAD<\/a> might see a bullish trend against its major currency rivals.<\/p>\n

14:45 GMT, U.S. Chicago Purchasing Managers\u2019 Index (PMI) \u2013 This is a survey of purchasing managers in Chicago, who are asked to rate their current business conditions. An end result higher than the projected 65.5 mark is likely to support the USD.<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week\u2019s most notable trends were the bearish crude oil and the bearish Japanese yen. And then, with a blink of an eye the trends have sharply reversed. By Friday evening, it was quite clear that the protests in Egypt will only escalate, and that political turmoil is inevitable.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-18877","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=18877"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18877\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}