The trade war threatens the reserve status of the dollar

The danger of a trade war between the US and China is again on the agenda. And this may play a bad joke to the appreciation of the dollar against other major currencies, according to analysts.
Moreover, President Trump's protectionist policy threatens the status of the US dollar as the main reserve currency.
The US has already introduced steel and aluminum duty and threatens to do so with other Chinese and European goods. Meanwhile, the two parties concerned are expected to take reciprocal action.
The use of the dollar has long brought about serious risks for countries like China, as witnessed by turbulence caused in the country in 2009 by the financial crisis.
China Central Bank, again warned of avoiding the dollar in 2013.
Otherwise, history shows that in a trade war, the dollar has seen a serious depreciation against other major currencies.
In view of the current strong increase in green money over the rest of the major currencies, the time to shorten the dollar appears to be quite appropriate.

Petrol: Exports from the US is on 23-year high

The United States, a key consumer of oil, surely climb up the world rankings in terms of its largest exporters. According to the latest data last week, the country exported 1.03 million barrels per day of crude oil, which is a record high for the past 23 years. The average volume of exports during the first six weeks of 2017 amounted to 695,000 barrels per day against 450,000 during the same period last year.

US production is increasing, and demand is still low due to the fact that many processing plants were closed for maintenance, analysts say. Oil available for export, since the agreement of OPEC reduces supply of black gold, they added. In December 2015 the United States had canceled a law that did not allow to do so.

According to forecasts of experts, this year the average volume of exports of crude oil in the US will be 650,000 to 800,000 barrels per day, which is higher than production in December of OPEC members such as Libya, Qatar, Ecuador and Gabon.