Get started
U.S. Dollar Index
Long

Middle East escalation and a Surging US dollar

88

In a significant escalation of hostilities in the Middle East, Iran fired missiles into Iraq, resulting in casualties. Reports indicate that at least one missile hit very close to the US Consulate in Erbil. Beyond the provocation towards the US, the act of firing missiles into a neighboring country by Iran is likely to prompt a response.

Additionally, unsettling news emerged that members of the Islamic Revolutionary Guard Corps (IRGC), a branch of the Iranian Armed Forces, are collaborating with Houthi terrorists in Yemen to target sailors on merchant ships in the Red Sea.

As Asia's liquidity entered the markets, there was an upward movement for the USD. In contrast, major currencies such as EUR, AUD, NZD, CAD, CHF, GBP, and JPY all experienced losses. Notably, despite the geopolitical tensions, US yields remained supported.
Elite_Forex
Also on:
Beyond Technical AnalysisdollarDXYStocksSupport and ResistanceUSA

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Beyond Technical AnalysisdollarDXYStocksSupport and ResistanceUSA
Elite_Forex
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.