Tension in the Middle East may affect the US dollar badly!

0
22
forex-656548

We were supposed to talk about this in our weekly outlook. ِAnyway, I believe that the tension between the United States and Iran may affect the US dollar negatively in the short-term forecast. There is strong opposition to Trump inside the US regarding Trump’s decision to eliminate Soleimani, the second man in Iran. How dangerous is this to US national security?

Globally, there are fears of Iran’s escalation as a response to Soleimani’s death, such as attacking oil resources in the Arabian Gulf or anything related to this matter or threat.

This development may weaken investor confidence in Trump in particular, and in the United States in general. This may negatively affect the U.S dollar in the short term (at least) or until things become clear.

If we take a quick look at the USD Index ( daily chart), the technical analysis supports our view…

USDINDEX_56565

MARKET DATA

UPCOMING ECONOMIC EVENTS