Syria response timeframe unclear

1. The US seem to weigh their options regarding an attack on Syria, as President Trump tweeted that the timeframe is still uncertain.
2. The White House blurred the picture even more as in a statement yesterday it was mentioned that “no final decision has been made”.
3. Russia called for a Security Council meeting on Friday in order to re-discuss the issue and urged for calmness.
4. Theresa May on the other hand seems to have the support of her cabinet to take action in response to the chemical attack.
5. Risk appetite seems to gain ground, hence the USD seems to be gaining ground against safe havens currently. Should there be further positive headlines we could see the USD strengthening.

Bitcoin rose yesterday and pulled a number of crypto’s with it

1. Bitcoin surged yesterday rather unexpectedly providing a parallel effect on Lite Coin, Etherium and Ripple.
2. Fundamentals seem to be unclear, however media cite that the surge was prompted as investors which shorted the crypto, were squeezed as Bitcoin remain stable.
3. Analysts consider that there is a positive feeling among traders in the past few days which could open room for higher grounds.
4. We see the case for the Bitcoin to continue to rise, as long as positive headlines reel in.

Today’s other economic highlights

• Germany: Final HICP rate for March, Survey: +1.5% yoy Prior: +1.5% yoy, 06:00 GMT, could be positive for EUR
• Eurozone: Trade Balance for February, Survey: +20.2B Prior:+19.9B, 07:30 GMT, could support the EUR
• US: IEA Monthly Report, 08:00 GMT, could affect oil prices
• U. Michigan preliminary Consumer Confidence for April, Survey: 100.5 Prior: 101.4,14:00 GMT, could weaken the USD
• JOLTS Job Openings for February, Survey: 6.173M Prior:6312M, 14:00 GMT, could weaken the USD
• US Baker Hughes Oil Rig Count, Survey: N/A Prior: 808, 17:00 GMT, any reading>808 could weaken Oil prices
• Speakers: FOMC members Rosengren (12:00, GMT) and Bullard (13:00, GMT) as well as Dallas Fed President Kaplan speak.

IronFX Daily Report April 13th