Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
ХУВьЦАА
Oil prices plummeted early this morning as markets grappled with the very real possibility of an end to hostilities in Iran. The Brent Crude benchmark sank to $97 per barrel as trading got underway in Asia, while WTI fell down to $90. According to reports from both sides, a memorandum of understanding is being finalised between the US and Iran, which would include a 60-day ceasefire extension, a reopening of the Strait of Hormuz and crucially, would see Iran forfeit all stockpiles of enriched uranium, although the details of the last point remain unclear. While the recent development is promising, markets have seen this all before. Peace talks have come and gone over the past few months and so far, every attempt has failed to resolve the ongoing conflict. Nevertheless, according to Iranian sources, some 33 vessels have safely transited the Strait over the last 24 hours, including a number of oil tankers destined for Asia.
Precious metals opened with a respectable gap to the upside this morning, pushing gold $50 higher and raising silver to $78 per ounce following disappointing weekly closes for both metals last Friday. Currencies have yet to react too explicitly, with the DXY falling a mere 0.3%. The real winner so far today has been the Nikkei 225 index, which effortlessly surged 3% after the opening bell, smashing through 65,000 points for the first time in its history. It was another record-breaking week for US indices last week, with the Dow, S&P 500 and Nasdaq all establishing new weekly high closes.
Peace offerings aside, traders are looking at a very slow start to the week. Memorial Day in the United States and Spring Bank Holiday in the UK mean that both markets are closed today. In fact, markets will be starved of data until Thursday before the economic calendar brings the goods. The latest PCE Price Index is the headline event, with predictions eyeing 3.9% inflation in April in the US. The report will factor heavily into the next FOMC meeting on the 17th of June, the first presided by newly appointed Kevin Warsh, who was sworn in last Friday. With a new Chairman at the helm and a possible resolution in the Middle East, interest rate predictions may swing aggressively as various narratives shift and settle. Kevin Hassett, Trump’s chief economic advisor, claimed over the weekend that a resumption in Gulf trade would give the Fed room to lower rates. Thursday will also see the publication of the latest durable goods orders, as well as first-quarter GDP growth. Earnings season has more or less ground to a halt, with the only companies of note being Costco (COST) and Dell Technologies (DELL), both after market close on Thursday. Expectations surrounding Dell are more intense than ever after shares in the company rocketed 17% higher last Friday amid renewed optimism in the AI sector.
Дериватив болон хөшүүрэгтэй бүтээгдэхүүнээр арилжаа хийх нь өндөр эрсдэлтэй бөгөөд таны анхны хөрөнгө оруулалтаас давсан алдагдал хүлээх эрсдэлтэй. Арилжаа хийхээсээ өмнө манай Нөхцөл, болзол (T&C) болон Бүтээгдэхүүний мэдээллийн баримт бичиг (PDS)-ийг уншина уу.
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