1) Iran Stops Oil Sales to UK, French Companies: Ministry
Summary: Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state's lifeblood, oil.
2) China Cuts Its RRR for The First Time in Three Months
Summary: For the second time since November 2011, the PBoC is encouraging China's banks to lend more by reducing the minimum percentage of reserves that they are required to keep in their coffers. The PBoC said that starting February 24, the RRR for large commercial banks will fall to 20.5%, while mid-sized and small-sized banks will be following a 17.5% RRR.
....This is going to be another roller-coaster week. There are so many variables...that i really cannot say which way the wind will blow. Oil will be rising sharply this week, which will put further pressure on the already teetering on the brink of recession EU. This will really put the squeeze on them, which could drag the Euro down. But a positive announcement on the Greek deal may prop it up. China's moves may help or hurt AUD and JPY...depending on how the market will look at it. If it was a move because of a faltering china, then demand for resources and goods may dry up....thus pushing AUD and JPY down. Or...perhaps the easing will be an economic boost? Only time will tell...
We're going to have to make some tough decisions...TAKE PROFITS? OR LET IT RIDE! Be ready to make some quick moves
...AND LETS MAKE SOME MONEY!
And more fuel...
ReplyDeleteJapan’s currency fell against all of its most-traded counterparts after the central bank increased its asset-purchase fund to 30 trillion yen, expanding economic stimulus measures for the first time since October. The BOJ also said it will target 1 percent inflation “for the time being.”