Author: FX
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…
The US Dollar (USD) is ending the week on a firmer stance as the US/Israeli war against Iran closes in on two weeks. Iran’s closure of the Strait of Hormuz has spiked Oil prices, boosting inflation risks and prompting investors to hide in safe-haven currencies like the Greenback. The escalating conflict in the Middle East continues to dominate market sentiment after Iran targeted oil tankers near the Strait of Hormuz this week, disrupting supply in one of the world’s most critical energy corridors.The US Dollar Index (DXY) crossed the 100.00 mark and is now trading near 100.30 after four days…
Chevron Corporation (NYSE: CVX) has been one of the standout stories of 2026. The integrated energy giant operates massive upstream operations spanning the Permian Basin, Guyana, and Kazakhstan. CVX has surged nearly 27% year-to-date, fueled by spiking crude prices amid escalating Middle East conflict and a high-profile boost from Berkshire Hathaway’s recent accumulation of shares.But as compelling as the fundamental tailwinds are, the monthly chart is flashing a technical signal that every trader following CVX needs to see right now. Price is approaching a resistance trendline that has been in place for nearly two decades.Zoom out on the 1-month chart…
Block Inc (XYZ) is trading relatively flat today, but the bigger picture on the chart is what has my attention. After the company reported earnings on February 26th, the stock had a powerful move higher, pushing up more than 24% in a very short period of time. Moves like that always stand out to me because they often leave behind important areas on the chart that can become key technical levels later on.For those who may not be familiar, Block Inc—formerly known as Square—is a financial technology company focused on digital payments and financial services. The company operates platforms that…
SentinelOne, Inc. (S) has endured a persistent and aggressive sell-off, shedding over 50% of its market value since the end of November 2024. This decline was strictly contained by a steep declining trendline, but the technical narrative for the cybersecurity firm appears to be shifting.Breaking the TrendlineFor the first time since the decline began, price action has successfully pushed above the dominant declining trendline. Notably, this week and last week mark the only occasions during this extended slide where the stock has achieved a weekly close above this line. This breakout is a significant development that may signal the formation…
One of the most-unbelievable moments this year (and there have been many already) was a Sunday-night video from Fed Chairman Jerome Powell where he fought back after he was handed a subpoena due to cost overruns in Fed renovations.It was a clear politicization of the Fed and meant to pressure Powell to lower rates, resign or not stay on as a Governor.A Federal judge killed the subpoena and hopefully that’s the end of it. “There is abundant evidence that the subpoenas’ dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to…
The latest NBC poll shows Trump’s approval among registered voters down 3 points to 44% from 47% in March 2025, with disapproval climbing to 54%. The DDHQ polling average paints a similar picture at 43.1/54.4.What matters for markets here is the midterm setup. Trump himself is flagging the risk, noting the historical pattern of the White House party getting punished in midterms. If Republicans lose ground in Congress, that reshapes the legislative landscape for tax policy, tariffs, and deregulation — all of which are priced into current equity valuations to some degree.The issue-by-issue numbers are telling: border security polls at…