Mel's Blog

It is reported that Israel could be more likely to attack Iranian nuclear facilities this year, a U.S. Defense Department official told ABC News.  An Israeli strike might be triggered by the production of enough enriched uranium at Iran's Natanz nuclear plant to make a bomb, ABC cited the official as saying.  As if Israel would announce to the world that they were planning to do this, just more bull being circulated to help keep the price of oil up in a slow business week. If anything it is early warning signs only.

To me this week is about whether or not the ECB will raise rates in Europe. If that occurs and the Fed does not follow up with an equal rate increase in American, we will be in for another round of Dollar bashing and higher oil prices. Stay tune, let’s see how this plays out.