UN fails to adopt resolution on Syria

1. The UN security council, failed to adopt a resolution about an investigation in the chemical weapons strike issue in Syria.
2. Russia vetoed the US draft resolution while the Russian draft resolution failed to pass.
3. Trump and May stated that the world must act after suspected Syria chemical attack, however Russian UN ambassador urged the US to refrain from any action it may planning on Syria.
4. Should tensions rise even further we could see uncertainty prevail and safe havens as well as oil rise.

Crypto’s under surveillance

1. Media reported that the British FCA said on Friday that firms offering services linked to cryptocurrencies would likely require it’s authorization. The regulation also includes a number of derivatives.
2. On the same note, Australia also clamps down on regulation of crypto’s, as all digital currency exchange providers with operations in Australia must register with AUSTRAC as part of the country’s anti money-laundering efforts.
3. On other news mining gets more and more energy consuming and cryptocurrency consumers seek cheap energy in Norway and Sweden.
4. Overall, as regulators seem to be on the move the outlook for bitcoin remains negative.

Today’s other economic highlights

• UK: Industrial Output for February, Survey: +0.4% mom Prior: +1.3% mom, 08:30 GMT, could be Negative for GBP
  Manufacturing Output for February, Survey: +0.2%mom Prior:+0.1% mom, 08:30 GMT, could be Positive for GBP
  Trade Balance for February, Survey: -11.95B Prior: -12.33B, 08:30 GMT, could be Positive for GBP
• US: Core CPI for March, Survey:+2.1% yoy Prior:+1.8% yoy, 12:30 GMT, could be positive for USD
  CPI for March, Survey:+2.4% yoy Prior: +2.2% yoy, 12:30 GMT, could be positive for USD
  Crude Oil Inventories, Survey: +0.220M Prior: -4.617M, 14:30 GMT, could be negative for Oil prices
  Speakers: ECB President Draghi (11:00 GMT) speaks and the FOMC meeting minutes are released

Check out their full report from below today!

IronFX Daily Market Report