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Global markets remain on edge as geopolitical uncertainty continues to weigh on sentiment. The US Dollar is holding steady near the 98.20 level, supported by safe-haven demand amid ongoing disruptions in the Strait of Hormuz. Reports of a partial blockade and Iran’s proposal to impose transit tolls through its domestic banking system have added fresh uncertainty to global trade and energy flows. Diplomatic clarity remains elusive, with speculation about potential talks between Washington and Tehran yet to be confirmed.
Meanwhile, a tentative 10-day ceasefire between Israel and Lebanon has been announced, but its credibility is already under scrutiny. Israeli forces remain stationed in South Lebanon, while Hezbollah has warned that any continued presence would justify resistance. The fragile agreement underscores the elevated geopolitical risks that continue to drive cautious trading across markets.
Currency Market Snapshot
EUR/USD: Trading softer near 1.1780 after eight consecutive days of gains, pressured by safe-haven demand for the Dollar and concerns over Eurozone exposure to external shocks.
GBP/USD: Sliding toward 1.3530 as risk aversion and Dollar strength weigh on the pair.
USD/JPY: Edging higher near 159.10, with the Dollar outpacing the Yen despite its safe-haven appeal.
AUD/USD: Defensive near 0.7160, reflecting weaker risk sentiment and uncertainty over global growth and commodity demand.
Commodities in Focus
Oil (WTI): Trading firm near $93.90 per barrel, buoyed by supply concerns linked to Hormuz disruptions and potential Iranian tolls. Partial tanker movement has prevented a full supply shock, but risks remain elevated.
Gold (XAU/USD): Hovering near $4,789 after earlier safe-haven gains. Speculation around ceasefire progress has tempered demand, leaving the metal subdued.
Looking Ahead
Friday’s agenda includes the US IMF meeting, with traders closely watching for signals on global economic stability and policy direction. Energy markets remain particularly sensitive to developments in the Middle East, while currency traders continue to favor the Dollar amid heightened geopolitical risks.
