From BigGo Finance · BigGo Finance · · 1m
Oil Prices and Euro Sell Pressured
Rising oil prices and Middle East tensions boost dollar buying as French fiscal worries accelerate euro selling.
In brief
Rising oil prices and Middle East tensions boost dollar buying as French fiscal worries accelerate euro selling. Rising crude oil prices and Middle East tensions revived dollar buying while French fiscal uncertainty accelerated euro selling. Originally reported by BigGo Finance.
Dollar Buying Revived
Rising crude oil prices revived dollar buying on speculation of US-Israel attack plans against Iran.
US Jobless Claims Drop
US weekly initial jobless claims fell 6,000 to 194,000, the lowest in three months since July.
French Bonds Fall
French government bonds fell for a second session amid fiscal and political uncertainty.
Middle East Tensions
US issued evacuation order for personnel in Saudi Arabia amid Houthi threats in Strait of Hormuz.
Euro-Dollar Decline
Euro-dollar closed at 1.1214 dollars after falling to 1.1189 and rebounding to 1.1231.
Market Concerns
Rising oil prices and interest rates risk undermining US AI stock market sentiment.
“rising energy prices are favorable for the dollar, but if interest rates remain elevated, it could sharply brake AI-related trades and conversely become a burden on the dollar”
The one thing
Rising crude oil prices and Middle East tensions revived dollar buying while French fiscal uncertainty accelerated euro selling.
