According to the Iranian authorities, Iran has cut its oil export by 40% over the last 9 months. The authorities used to conceal that the sanctions imposed on Iran kept hindering the national economy.
The EU abandoned the export of oil from Iran in early 2012. This was a severe blow to the European economy even though the import of Iranian oil didn’t account for the lion’s share of the total oil import.
Forex.
As of January 8th, the US Dollar index is trading within a narrow price range between the MF pivot 80,78 and the local high 80,22. The bearish wave «b(С)/А» 81,00-80,22 of level H4 is completed. In order to resume the bullish trend, the price will have to break above the MF pivot and make a bullish FZR above it. Alternatively, if the price breaks below the local low and makes a bearish FZR below it, the price will keep going down.
