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UAE Presidents Foreign Policy Advisor: The UAE is exercising restraint and seeking a way out for Iran and the region.The UAE presidents foreign policy advisor said Irans accusations against the UAE are "part of its unwise and chaotic policy."On March 15, S&P Global Ratings affirmed Saudi Arabias sovereign credit rating, adding that despite disruptions, non-oil growth momentum and related non-oil revenues should help support the economy. S&P stated that Saudi Arabia should be able to withstand the impact of the current conflict with Iran. S&P noted that the country should be able to shift oil exports to the Red Sea, utilize its vast oil storage capacity, and increase oil production post-conflict. The Saudi government should also be able to adjust investment spending related to "Vision 2030," a strategic framework launched by the country in 2016.On March 15th, Matt Reed, Vice President of the geopolitical and energy consultancy Foreign Reports, stated that an attack on Kharg Island could trigger Iranian retaliation against Gulf oil-producing countries. He said, "Iran will retaliate in kind." The United States warned on Friday that if Iran continues to block the Strait of Hormuz, Kharg Islands oil facilities could become the next target. Reed warned that the longer the conflict continues, the harder it will be to find alternative energy supplies. "At least 10 million barrels of oil are trapped in the Gulf every day, plus more than 4 million barrels of refined petroleum products and tens of billions of cubic feet of liquefied natural gas, with no easy alternatives." The International Energy Agency has announced the largest emergency oil reserve release in history, with 32 member countries planning to release approximately 400 million barrels of oil. However, Reed believes this measure will have limited effect, stating, "By the time the oil gets to the market, it may be too little, too late." He described it as nothing more than a "band-aid."On March 15th, local time, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that in the past 48 hours, the US and Israel had launched attacks on several civilian industrial facilities in Iran, resulting in the deaths of several workers. The statement said that after setbacks in its confrontation with Iran, the US and Israel have turned to attacking non-military industrial facilities. Iran warned that US companies in the region should withdraw from their facilities and urged nearby residents to stay away from industrial areas with US capital involvement to avoid potential attacks.

Stock Markets Continue to Threaten a Breakout

Cory Russell

Aug 09, 2022 14:49

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During the Monday trading session, the S&P 500 surpassed the 200 Day EMA, where it is now meeting with a lot of resistance. As a result, things can get intriguing.

Technical Analysis of the S&P 500

On Monday during trade, the S&P 500 first declined before turning around and resuming its surge. The market had reached the 200 Day EMA at midday and was barely below the critical 4200 level. A rise to the 4300 level is conceivable if the market were to break through the 4200 level. However, bear in mind that the CPI statistic from the United States will be released on Wednesday and will offer traders more to consider on the inflationary outlook.


People tend to place a lot of faith in the Core CPI number since the Federal Reserve does like to pay careful attention to it, particularly if it comes out hotter than expected. Given that, I believe we will be treading a fine line over the next several days. However, if we were to break below the hammer that formed on Friday, it may indicate that the market is eager to sell equities ahead of the number, which I believe to be far more probable than most people know.


After all, there are many worries about future inflation and we are in a recession right now. Given that Wall Street has, very bluntly, made a career not pricing the market in accordance with reality, this does not necessarily imply that it must do so. However, it's clear that there is a lot of technological resistance here, so everything fits together rather well.

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