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Gold and the dollar stabalise at elevated levels while EU stocks attempt a recovery. The S&P 500 is expected to open higher to start the week and USD/JPY approaches a massively significant marker.
The impact of geopolitical tensions, notably between Israel and Iran, and their repercussions on financial markets. He notes a bullish continuation in the US dollar, influenced by better-than-expected US retail sales and CPI data, indicating potential recovery from 2023’s decline. The two-year Treasury yield mirrors this recovery, touching back near 5%. Moreover, the weakening Japanese yen against the dollar draws attention, nearing intervention levels at 155. Gold experiences volatility, with prices potentially consolidating after a significant uptick, while cable (GBP/USD) shows a notable decline, moving out of its trading range. Lastly, despite geopolitical uncertainties, European indices and the S&P 500 futures hint at a positive start, closely watching for developments in the Israel-Iran situation and their impacts on markets.
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