MARKET DEVELOPMENT –USD/CAD Upside Capped, Crude Oil Spikes on US AirstrikesCrude Oil Costs Spike on Center East TensionsJapanese
MARKET DEVELOPMENT –USD/CAD Upside Capped, Crude Oil Spikes on US Airstrikes
- Crude Oil Costs Spike on Center East Tensions
- Japanese Yen the Clear Winner in FX Area
- Gold Hits 4-Month Excessive on Secure-Haven Flows
| Change in | Longs | Shorts | OI |
| Daily | 28% | -2% | 8% |
| Weekly | 28% | -9% | 3% |
Crude Oil: In a single day, geopolitical tensions between the US and Iran had escalated dramatically after US airstrikes killed Iran’s prime normal at Baghdad airport, which noticed Iran’s Supreme Chief name for revenge on the assault. Consequently, crude oil costs spiked greater in response to renewed threat premium within the center east with Brent crude oil hitting highs of $69.50. Focus within the area can be on how Iran will reply, which can maintain oil costs on the entrance foot, offered the geopolitical threat premium is sustained.
JPY: The clear winner within the FX area has been the…