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Forex Trading, Market News & Technical Analysis

Syria Still Just a Backdrop

Posted by WorldWideMarkets . on Sep 4, 2013 2:42:00 AM
U.S. President Barack Obama is desperately trying to get international backing for any strike against Syria but even Congress is balking. Some of the dissent in the U.S. government is to be expected given the nature of democracy but for FX investors it should all remain a backdrop and nothing more. As stated previously, the Syrian conflict in human terms is horrific but any reaction in FX markets are likely short lived and knee jerk. The bigger picture remains economic data and recovery in the euro zone and the U.S. Oil markets may be volatile and any disruptions and price spikes are going to be negative for economic recovery but that is as far as it will go in FX trading. The Syrian conflict could widen but FX markets will adjust. If anything, buy safe haven in the dollar but expect the bulk of any profit to come on the greenback’s continued solid fundamentals relative to everywhere else. oil trading

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