President Obama is prepared to move ahead with a “limited strike” on Syria according to the New York Times. Britain is not fond of the idea, voting to not take military action.
According to reports, if there’s an attack, it could very well be Friday or Saturday.
Many people question why the U.S. would attack Syria. President Obama told PBS that an attack would send “a pretty strong signal that it (Bashar al-Assad’s Gov.) better not [use chemical weapons] again”.
The U.S. has yet to prove that Assad’s government is guilty of using chemical weapons. UN inspectors are still on-the-scene investigating. They’re expected to leave Saturday.
The Forex Market Reaction
Let’s not forget that in spite of the financial crisis of 08′, the controversial U.S. government, and the Federal Reserve’s unusual tactics, the U.S. Dollar is still a safe haven currency.
Though nothing is confirmed as of now, Friday or Saturday are expected times of attacks according to previous reports. If Syria is bombed, there could be some major Sunday gaps in the market. It would also present the possibility of the U.S. Dollar strengthening since it’s a safe haven currency.
A safe haven currency is simply a currency that people trust. When all heck breaks lose, people run to the safe haven. That’s why the value of the U.S. Dollar rose significantly in the 08′ financial crisis.
For news updates and more fundamental analysis, follow me on Twitter. Follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!
For the most recent Technical Analysis click here!
Winner’s Edge Trading, as seen on: