The escalating war in the middle east is pushing energies higher, stocks lower, and generating considerable fear about what happens next, especially in the Gulf nations which are being attacked by Iran.
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WTI Crude Oil closed above 99.000 going into the weekend, this as anxious large players try to gauge their outlooks regarding Iranian war implications and circumstances that are effecting sentiment quickly.
Market focus on major forex pairs and indices including USD/MXN, EUR/USD, NASDAQ 100, GBP/USD, USD/CAD, USD/ZAR, and DAX with key levels to watch.
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The WTI crude oil price continued its strong rally last week as the impact of the ongoing war in Iran continues. It surged to a multi-year high of $92.66 on Friday, up by 67% from its lowest level this year.
The EUR/USD exchange rate suffered its biggest drop since July last year as investors moved to the safety of the US dollar. It ended the week at 1.1615, down from the year-to-date high of 1.2088.
Full-scale war over Iran in the Middle East has pushed energies to multi-year highs and helped strengthen safe havens such as the US Dollar and Gold.
Silver, the S&P 500, Bitcoin and several FX pairs are trading near important technical levels. Dollar strength and volatility are shaping how markets react across asset classes.
The impact of full-scale war involving Iran will be the dominant theme as market open following the surprisingly early opening of hostilities by Israel and the USA, with the semi-closure of Hormuz and increased OPEC production key factors.
EUR/USD holds near recent lows after firm US PPI data and renewed Iran-Israel tensions. Markets weigh Fed policy outlook, Eurozone inflation signals, and key technical levels.
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WTI crude advances after US and Israeli strikes on Iran, with attention shifting to supply risks around the Strait of Hormuz as the weekly technical structure improves.
Weekly outlook covering USD pairs, Bitcoin, DAX and Nasdaq with major support, resistance levels and breakout trade setups.
Weekly Forex Forecast – USD/JPY, AUD/USD, WTI Crude Oil, S&P 500 Index, Bitcoin, Gold
Major markets outlook: USD pairs, S&P 500, Gold & Bitcoin. Key technical zones, breakouts and downside risks for the week ahead.
Massive gains by the Japanese Yen on soaring investor confidence in Japan, plus a weaker US Dollar on the prospect of more interest rate cuts due in 2026, dominated the markets last week.
At the close of trading on Friday the GBP/USD was near the 1.36514 ratio, this after touching a low earlier in the day when the currency pair lurched towards the 1.35920 mark upon nervousness.