Well another great week trading the markets, profitable yet with an unavoidable undertone of depression. The allied forces being led by the USA and Israel are once again just using their bully tactics to get more control and regime changes in the Middle East. RUSSIA are backing Syria, the west and Israel are not, this is worrying to all not just investors.
Oil is on the rise as Iran can not fulfill orders and contracts to European and other global nations since Donald Trump decided to pull out of the Iran deal. This could mean 1m= million less barrels of oil being produced per day which we have now heard that Saudi Arabia will subsidise.
Italy’s election coming up, once again we are hearing of populists nationalistic parties leading the polls. The era of globalization and the EU seems to be coming to an end.
The USD has had a a good run recently and I think a pull back is necessary on a technical basis and because it is affecting emerging markets out there who have USD debt, so the higher the dollar goes, essentially the higher their debts go. EM sector is a house of cards with high levels of defaults and currency devaluations, extremely complex.
For these reasons I am choosing to position myself in safe haven assets like Gold and the Swiss Franc. Canadian dollar could make serious gains as they are an oil producing nation. I also like the look of the Australian dollar from a technical point of view and because they are a gold producing nation.
So for me I am predicting: USD/CAD-short