Author: FX
Explosion lightly damages Jewish school in Amsterdam Source link
US President Donald Trump said on Saturday that the US struck military targets at a strategic Iranian outpost in the Persian Gulf and warned it could hit oil infrastructure next if Tehran keeps disrupting energy flows in the Strait of Hormuz, intensifying the two-week conflict in the region.Trump noted in his post on Truth Social: “Moments ago, at my direction, the United States Central Command executed one of the most powerful bombing raids in the History of the Middle East, and totally obliterated every MILITARY target in Iran’s crown jewel, Kharg Island.” “Our Weapons are the most powerful and sophisticated that…
BP revises Whiting oil refinery contract offer after union members reject proposal Source link
The Euro finalized the week posting losses of over 1.74% against the Greenback and 0.84% in the day. The EUR/USD posted four bearish days after falling below the 200-day Simple Moving Average (SMA) at 1.1672, turning the pair bearishly biased. At the time of writing, the pair trades at 1.1414.EUR/USD Price Forecast: Technical OutlookWeekly analysisThe EUR/USD weekly chart shows the pair is dipping below 1.1450, opening the door to further downside. Momentum is bearish as the Relative Strength Index (RSI) turned negative three weeks ago, after falling below the 50-neutral level.Hence, the most likely scenario for EUR/USD is to extend…
An article of the Wall Street Journal mentioned that a Federal Judge threw out a pair of subpoenas that the Justice Department issued to the Federal Reserve Chair Jerome Powell.The US District Judge James Boasberg, in a decision unsealed Friday, ruled the subpoenas were improper, a blow to the US Attorney Jeanine Pirro’s criminal investigation versus Powell.Pirro, a longtime Trump ally, began an investigation into whether Powell gave false testimony before the Congress last summer about the Federal Reserve’s renovation project. Powell responded publicly on January 11, saying the probe was a pretext for Trump’s continued pressure on the Fed to…
Gold price loses some 0.70% on Friday. It seems poised to end the week with losses of more than 2% as the Greenback remains the choice for safety amid the Middle East conflict, which has increased investors’ angst over a reacceleration of inflation. Also, a softer-than-expected reading of US growth data increased the chances of a rate cut in 226.Bullion slips below $5,050 as rising yields, Middle East tensions boost demand for the US DollarThe XAU/USD trades at $5032 after reaching a daily high of $5,128. The US Dollar Index (DXY), which tracks the performance of the American currency against…
The US-Iran war ran the FX show this week — rewarding the dollar and punishing energy importers, while the Aussie defied the gloom and the pound got stagflation’d. Source link
Stocks fall as geopolitical risks remain elevatedThe major US stock indices closed lower on the day and also finished the week in negative territory as geopolitical tensions in the Middle East continue to weigh on market sentiment. With the conflict involving Iran showing few signs of easing, investors remain cautious about the potential for a broader and more prolonged regional confrontation.Beyond the immediate conflict zone, markets are also factoring in the global risk of retaliatory actions and potential terrorist threats, which adds another layer of uncertainty to the outlook. At this point, hopes for a quick resolution to the conflict…
Markets:WTI crude oil up $2.23 to $97.96Gold down $53 to $5025US 10-year yields flat at 4.28%S&P 500 down 48 points to 6625Bitcoin up 1.3%USD leads, NZD lagsThere was some sense of the war doves throwing in the towel today, at least in the short term. News that the US was sending over a Marine Expeditionary Unit that won’t arrive for 12-16 days stretches the timeline to the end of the month and the full 4-5 weeks Trump touted, at minimum.There is a sense that Iran isn’t ready to end the war even if Trump wants to and that means there…
OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/KRW has pushed toward 1,495, reflecting KRW’s high-beta nature during geopolitical stress and energy price spikes. With bullish momentum intact and RSI rising, risks are skewed to the upside, with resistance at 1,500 and 1,510 and support at 1,470, though policymakers’ reassurances and any conflict resolution could slow depreciation and eventually trigger a turnaround.Upside skew while policymakers vigilant”The KRW was among the worst performers, with USDKRW pushing toward 1495 at one point overnight, underscoring the KRW’s high-beta characteristics during periods of geopolitical stress and energy price spikes.””Bullish momentum on daily…