Safe haven assets rally after Israel attacks - OptionsDesk
London, UK
|
October 10, 2023 03:53 AM Eastern Daylight Time
OptionsDesk broker Rich Perry speaks to Thomas Warner from Proactive about the effect a weekend of tragedy in the Middle East has had on the world's markets.
Perry explains that the outbreak of violence in Israel has caused a spike in oil prices, with a rally of about $5 to its peak, before experiencing some selling pressure.
Gold also experienced a surge, indicating a potential shift towards safe-haven assets. Shifting focus to the upcoming week, Perry emphasises the anticipation surrounding global inflation data, especially after the strong non-farm payrolls from the previous week.
Market watchers are keen to gauge the effectiveness of central banks' strategies, particularly the ECB and the Fed, in managing inflation through interest rate adjustments.
Additionally, upcoming UK GDP, industrial, and manufacturing production numbers will provide insights into the UK's economic health amid high interest rates.
The week will also unveil the FOMC Fed minutes, offering clarity on their stance regarding the robust labour market and future interest rate policies.
Contact Details
Proactive UK Ltd
+44 20 7989 0813
