Geopolitical tensions on the rise – Higher Oil prices help the CAD

Frank Walbaum FX Strategies.Asia

Important news for the day

Wed, 02nd, 14:15 US ADP employment change.

Geopolitical tensions

With the retaliation on Israel global tensions have increased. As the Iran had attacked with more than hundred rockets oil prices were rising further and the price of Gold had been gearip up steam. Depending on a potential response from Israel this might escalate a further cooling in the equity sector for now. The price of oil could also continue running higher as the market had defended the technical support zone and looks like it would break the falling trendline to the upside based on the weekly chart.

Market talk

The US- Dollar has been gearing up steam in recent trading. The Dollar index also confirms such moves. It is remarkable, though, that the EUR and GBP have lost more momentum compared to the AUD. This might call for fresh positive risk sentiment in markets should the Aussi keep rising again. Silver is also starting to appreciate again despite stock markets showing some corrective pattern. The CAD keeps gearing up steam as well.

Tendencies in the markets

Equities correcting, USD stronger, cryptos weak, oil rising, Silver at support, JPY stronger.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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