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Trading Diary July 3, 2012 Second Day of Iran Oil Embargo

July 3rd, 2012

For whatever the reason, at this point the market is following Oil Prices…that is why I am watching the Embargo so close. Tonight Australia did leave rates alone and did not cut them. Shanghai Comp is down slightly. AUD/USD is at  1.0260 and eur/usd 1.2606 leading into the europe open. Iran is talking about closing the strait and is doing war games leading to the low level talks today. Of course Oil is stronger on this at 84.29…if this gets legs we could see a rally tomorrow led by Energy plays…grrrrrr. Futures are slightly down at this point. Shanghai Futures slightly up.

July 2012