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The Israeli military said on Tuesday that it has detected missiles launched from Iran heading towards Israeli territory. It urged people in affected areas to head to shelters immediately.”A short while ago, the IDF (Israel Defense Forces) identified missiles launched from Iran toward the territory of the State of Israel. Defensive systems are operating to intercept the threat,” the military said.Meanwhile, the United Arab Emirates’ (UAE) General Civil Aviation Authority announced the temporary and full closure of the country’s airspace as “an exceptional precautionary measure” amid rapidly evolving regional security developments, Bloomberg reported. The UAE’s defense ministry said earlier it was…
The GBP/USD pair is trading near the 1.3310 price region, trimming almost all its losses from Friday and breaking its four-day losing streak, as investors seem to have digested the United States/Israeli escalation in the war against Iran over the weekend.On Saturday, the US launched a massive strike on Iran’s Kharg Island. Although US President Donald Trump called for an alliance to protect and reopen the Strait of Hormuz, most nations refused to send ships to the region and instead pushed for diplomatic solutions.The Bank of England (BoE) is expected to keep rates on hold this Thursday, following the Federal…
In a CNBC interview, US Treasury Secretary Scott Bessent offered fresh insight into how Washington is assessing the energy risks stemming from the escalating confrontation involving Iran and the broader Middle East.Key QuotesAny actions to address prices depend on duration of war.It’s very likely to assume successful completion of 301.On the Strait of Hormuz: We believe Chinese ships have gone outUS Treasury Secretary Bessent, on oil supply: The deficit is somewhere between 10 and 14 million barrelsPutin would get even more money if oil spiked to $150On whether they could intervene in oil markets: Have not done that. Source
The Indian rupee was pinned near its all-time low on Monday, averting losses largely on the back of likely central bank intervention, via state-run banks, as hostilities in the Gulf kept oil prices elevated. The rupee closed at 92.42 per dollar, nearly flat on Monday,and in touching distance of its all-time low of 92.4750 hit last week.Brent crude oil futures rose over 1% to $104.5 per barrel, with the situation in the Strait of Hormuz remaining a major focus area for investors. U.S. President Donald Trump’s demands for a coalition to help reopen the key energy artery appeared to have…
The Indian rupee was pinned near its all-time low on Monday, averting losses largely on the back of likely central bank intervention, via state-run banks, as hostilities in the Gulf kept oil prices elevated. The rupee closed at 92.42 per dollar, nearly flat on Monday,and in touching distance of its all-time low of 92.4750 hit last week.Brent crude oil futures rose over 1% to $104.5 per barrel, with the situation in the Strait of Hormuz remaining a major focus area for investors. U.S. President Donald Trump’s demands for a coalition to help reopen the key energy artery appeared to have…
Societe Generale economists note that EUR/GBP has slipped below its 200‑DMA and is testing the February low near 0.8610, which may offer interim support. They highlight the risk of a deeper move toward 0.8580 and 0.8535 if this level fails, while the cross is described as technically oversold and overdue a bounce in broader EUR and GBP terms.Testing support as downtrend extends”EUR/GBP recently slipped below its 200‑DMA (now at 0.8690), extending the pullback toward the February low at 0.8610, which may provide interim support. A brief rebound is possible; however, the key focus is whether the pair can reclaim the…
The rupee stayed weak and lost 13 paise to 92.43 against the US dollar in early trade on Monday, weighed down by massive withdrawal of foreign funds and surging crude oil prices amid geopolitical uncertainties.Volatile sentiment in domestic equity markets further dragged the currency down even as the greenback retreated from higher levels, according to forex traders.At the interbank foreign exchange, the local unit opened at 92.44 and stayed close to its lowest-ever intra-day level, trading at 92.43 against the greenback, registering a loss of 13 paise from its previous close.In the preceding session on Friday, the rupee hit its…
EUR/JPY gains ground after two days of losses, trading around 182.60 during the Asian hours on Monday. The currency cross advances as the Euro (EUR) gains support against its peers after The Guardian reported that US Energy Secretary Chris Wright expects the US-Israel conflict with Iran to end within “the next few weeks,” potentially allowing oil supplies to recover and energy prices to ease.However, the EUR/JPY cross’s upside may remain limited as the Euro continues to face pressure from rising oil prices, underscoring Europe’s vulnerability to higher energy costs that could weigh on the region’s trade balance. The recent surge…
US President Donald Trump said on Monday that he is discussing with other countries about policing the Strait of Hormuz, adding that Israel is collaborating with the US on securing the vital shipping route.Key quotesThey want to negotiate badly yet I don’t think they are ready. We are discussing with other countries about policing the Strait of Hormuz. We are targeting drone manufacturing in Iran. Talking to 7 countries regarding Strait of Hormuz.I am demanding that other nations help protect the Strait.Israel is collaborating with the US on securing the Strait of Hormuz.We are talking to Iran yet I do not think they…
South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.”Takayuki Kobayashi, policy chief of Prime Minister Sanae Takaichi’s ruling Liberal Democratic Party (LDP), told public broadcaster NHK, “I regard the threshold as extremely high for sending Japanese navy ships to the region under existing Japanese laws.”US President Donald Trump renewed his calls for allies to help secure the Strait of Hormuz in a post on Truth Social on Saturday.“….the Countries of the World that receive Oil through the Hormuz Strait must take care of that…