USD/JPY Weekly Forecast: Energy shock hammers yen as intervention risk looms
Markets over the past week have been almost entirely beholden to the conflict between the United States and Israel against Iran, with the effective closure of the Strait of Hormuz at the centre. The disruption has created a clear divide between the energy haves and have-nots in currency markets, with those with vast reserves and production capacity benefiting from a positive terms-of-trade shock, while currencies linked to economies heavily reliant on imported energy have come under pressure.
China's gold buying spree continues as reserves climb for a 16th straight month
Is anyone really surprised? China has arguably the biggest buyer out there for a while now.
U.S. Treasury Secretary Scott Bessent Announces Largest Bombing Campaign on Iran Tonight
U.S. Treasury Secretary Scott Bessent has declared that the U.S. will execute its largest bombing campaign on Iran tonight, marking a significant escalation in military action. This development could have wide-ranging geopolitical and economic consequences.
Saudi Defense Minister Urges Iran to Choose Wisdom Over Misguided Actions
Saudi Arabia's Defense Minister expressed hope that Iran will act with wisdom and avoid misguided calculations, signaling a desire for de-escalation in regional tensions. This statement may impact geopolitical dynamics in the Middle East.
Saudi Defense Minister Discusses Countering Iranian Aggressions with Pakistani Army Chief
The Saudi Defense Minister held talks with the Pakistani Army Chief focusing on strategies to halt Iranian aggressions. This discussion highlights regional security concerns and potential military cooperation between Saudi Arabia and Pakistan.
Saudi Defense Minister Discusses Iran's Attacks with Pakistani Army Chief
The Saudi Defense Minister revealed that he held discussions with the Pakistani Army Chief regarding Iran's attacks on Saudi Arabia. The talks highlight ongoing regional security concerns and military cooperation between Saudi Arabia and Pakistan.
Some Gulf Vessels Use Chinese Identity Signals Amid Regional Conflict
Multiple shipping reports reveal that certain vessels in the Gulf are broadcasting Chinese identity signals to minimize the risk of being targeted during the ongoing regional conflict, according to the Financial Times. This tactic aims to leverage China's perceived neutrality or influence in the area to enhance maritime safety.
Goldman Sachs Warns Oil Prices May Surpass $100 Next Week Amid Strait of Hormuz Disruption
Goldman Sachs has indicated that oil prices could exceed $100 per barrel next week if the ongoing disruption in the Strait of Hormuz is not resolved. The potential supply constraints in this critical chokepoint are raising concerns about global oil market stability.
Saudi Arabia Intercepts Ballistic Missile Targeting Prince Sultan Air Base
The Saudi Ministry of Defense announced the successful interception and destruction of a ballistic missile launched toward Prince Sultan Air Base. This incident highlights ongoing regional security tensions in the Middle East.
Saudi Arabia Intercepts Ballistic and Cruise Missiles Targeting Key Military and Oil Sites
The Saudi Ministry of Defense announced the successful interception of ballistic missiles, cruise missiles, and drones aimed at Prince Sultan Air Base and the Shaybah oil field. This defensive action highlights ongoing security challenges in the region and potential risks to critical infrastructure.