Author: FX
Just last week, White House National Security Adviser Jake Sullivan talked about how “quiet” the Middle East was.”I emphasize for now, because all of that can change, and the Middle East region is quieter today than it has been in two decades,” he said.It’s not anymore. Hamas launched a massive attack against Israel from Gaza, far more than anything in decades. The images are horrific from what was an incredibly-coordinated attack that was somehow completely missed by Israeli intelligence. It’s still far from clear what was done and the fallout but Israel’s declaration of war against Hamas wasn’t hyperbole; officials…
© Reuters. U.S. President Joe Biden speaks about the September Jobs Report and National Manufacturing Day in the Roosevelt room at the White House in Washington, U.S., October 6, 2023. REUTERS/Leah Millis By Steve Holland and Matt Spetalnick WASHINGTON (Reuters) -U.S. President Joe Biden offered Israel on Saturday “all appropriate means of support” after a deadly attack from Palestinian militant group Hamas and warned “any party hostile to Israel” not to seek advantage. U.S. and Israeli officials were coordinating about Israel’s military needs in the wake of the attack, with a decision expected soon, a senior U.S. official said. The…
daboost The new war between Israel and Palestinians in Gaza likely has dashed hopes, at least for now, for normalized relations between Israel and Saudi Arabia, potentially disrupting financial markets and possibly sending oil markets into turmoil when trading resumes on Monday. Israeli Prime Minister Netanyahu declared war on Hamas earlier Saturday after the group’s forces poured across the border from Gaza, clashing with Israeli forces and pushing into large sections of territory in the southern part of the country. The Wall Street Journal reported late Friday that Saudi Arabia had told U.S. officials it could be willing to increase…
tupungato Luxury goods makers could be in for a rude awakening as a luxury supercycle that has boosted many of their stock prices could be reaching its conclusion. That’s the assessment from BMO, who has a not so rosy outlook on the sector. In a recent note, the firm provided five reasons why investors would be wise to be cautious. The firm noted that its 2023 H2 estimates have consistently been below Street expectations. “We expect to see consolidation of strong multi-year gains for the luxury sector from here…also accounting for higher interest rates and lower disposable incomes for western…
Our forex strategists leaned with bullish USD sentiment this week, which was effective early on but ran into problems as traders likely took profits / reduced risk on USD longs ahead of the highly anticipated monthly U.S. employment update. On Monday, EUR/USD was back at the top of the watchlist with expectations of the U.S. likely to flex its muscles with their upcoming employment updates, and until the market significantly moved to upside to break the downtrend we leaned bearish on EUR/USD for the time being. The inverted head-and-shoulders pattern neckline was our area to watch for bearish patterns, which…
5/5 © Reuters. Rockets are fired by Palestinian militants into Israel, in Gaza City October 7, 2023. REUTERS/Ibraheem Abu Mustafa 2/5 By Nidal al-Mughrabi and Maayan Lubell JERUSALEM/GAZA (Reuters) -Palestinian Islamist group Hamas launched the biggest attack on Israel in years on Saturday, killing dozens of people and taking hostages in a surprise assault that combined gunmen crossing into Israel with a barrage of rockets fired from the Gaza Strip. Israel said the Iran-backed group had declared war as its army confirmed fighting with militants in several Israeli towns and military bases near Gaza, and Prime Minister Benjamin Netanyahu vowed…
Q4 crude oil outlook focused on OPEC+, monetary policy and global economic growth conditions. Source link
MarketAxess, CME rise to the top, while Burford Capital drifts down: Financial movers Source link
Going into the fourth quarter, interest rate markets are pricing in a peak in most major central bank monetary policy tightening cycles by the end of this year, if not sooner.Remarks from policy makers across the spectrum point toward future decisions on cash rates being dependent on the incoming economic data. This is somewhat of a return to normal programming for central bankers.The pandemic-induced ultra-loose policy stance was followed by clear messaging of tightening for the foreseeable future to combat accelerating price pressures. While the inflation genie is not yet entirely back in the bottle, there is less concern than…
It’s all happening in the Middle East once again this weekend. A surprise attack by Hamas on Israel set off a strong response in something that will rekindle instability in the region. I doubt Israel headlines move markets but the violence comes at the same time that the US looking for some kind of peace deal involving Saudi Arabia.The WSJ’s Summer Said reports that Saudi Arabia has told the White House it would be willing to boost oil production early next year if crude prices are high. That would be part of a deal where Saudi Arabia would recognize Israel…