Video: Forex Response to Persian Gulf Tension part of US takes lead in massive Gulf mine exercise

Video Related To: US takes lead in massive Gulf mine exercise

Tehrān : Iran | almost 2 years ago
The United States and 29 other nations have begun the biggest mine-clearing exercise in the Persian Gulf region, a show of force as tensions escalate over a threatened Israeli attack...
    • Clear
    • Share:
    • Share
    • Clear
    • Clear
    • Clear
    • Clear
  • Read full report
Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Video Source:

Forex Response to Persian Gulf Tension - Forex Response to Persian Gulf Tension There does not seem to have been a huge Forex response to Persian Gulf tension, yet. The US and its Western allies have been ratcheting up pressure on Iran to submit its nuclear program to inspections. In fact Iran is under pressure to dump its nuclear program as international agencies believe the purpose of Iran's program is to develop nuclear weapons. As Iran has become increasingly cut off it has responded with threats to close the Straits of Hormuz. A third of all oil shipped by sea and a fifth of all oil traded in the world passes through the 34 mile wide straits every year. Currency traders are right to look for a Forex response to Persian Gulf tension. However, the economic worries and Europe, Asia, and North America seem to have taken precedence. The Euro rallied briefly as stronger than expected economic data came out of Germany and China. Over the longer haul, however, the Euro is not expected to do especially well. Austerity measures such as the French austerity plan and similar measures throughout the continent will likely lead to stabilization of the Euro Zone economy but will be a distinct drag on economic growth in the coming year or years. The may be a greater Forex response to Persian Gulf tension if Iran takes any steps to impede traffic through the straits. The US aircraft carrier USS John C. Stennis and its battle group are stationed in the area and, in fact, passed through the <b>...</b>
Views : pending

Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.