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Forex News Timeline
11:04 South Korea, Japan mull Trump’s calls to secure Strait of Hormuz
South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.”
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South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.”Takayuki Kobayashi, policy chief of Prime Minister Sanae Takaichi’s ruling Liberal Democratic Party (LDP), told public broadcaster NHK, “I regard the threshold as extremely high for sending Japanese navy ships to the region under existing Japanese laws.”US President Donald Trump renewed his calls for allies to help secure the Strait of Hormuz in a post on Truth Social on Saturday.“….the Countries of the World that receive Oil through the Hormuz Strait must take care of that passage, and we will help – A LOT,” Trump said.Oil prices are expected to be significantly impacted by the fresh developments concerning the Strait of Hormuz as the US-Israel war on Iran escalates further.
WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
09:05 Israeli Military: Defense systems operating to intercept missiles launched from Iran
The Israel Defense Forces (IDF), the country’s military, said in its social media post on X that Iran continued to launch missiles toward the territory of the State of Israel.
The Israel Defense Forces (IDF), the country’s military, said in its social media post on X that Iran continued to launch missiles toward the territory of the State of Israel.“Defense systems are operating to intercept the threat,” the IDF added, while warning citizens to enter protective spaces.This comes after Iran’s Revolutionary Guard Corps (IRGC) pledged to target Israeli Prime Minister Benjamin Netanyahu as the war with the US and Israel continues.“We will continue to pursue and kill him with full force,” the Guards said of Netanyahu on Sunday, in a statement on their Sepah News website.Meanwhile, Iran accused “the enemy” of using copycat drones to attack neighbouring countries and put the blame on Tehran, amid intense anger over its retaliatory strikes across the Middle East.
04:21 US President Trump: Not ready for Iran deal, warns Kharg Island could be hit again
In an interview with NBC News on Saturday, US President Donald Trump commented on the military strikes on the Kharg Island and whether he was prepared to make a deal with Iran while pressing allies once again to help secure the Strait of Hormuz.
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In an interview with NBC News on Saturday, US President Donald Trump commented on the military strikes on the Kharg Island and whether he was prepared to make a deal with Iran while pressing allies once again to help secure the Strait of Hormuz.Key quotesI'm not ready to make a deal with Iran because the terms are not good enough yet.
We’ve totally decimated it. Except, as you know, I didn’t do anything having to do with the energy lines, because having to rebuild that would take years.
Strikes on Kharg island totally demolished most of the island, but we may hit it a few more times just for fun.
On whether the US Navy would be escorting ships, I don’t want to tell you anything about that.
We’re going to be sweeping the strait very strongly.
And we believe we’ll be joined by other countries who are somewhat impeded, and in some cases impeded from getting the oil.”
It is not clear whether Iran has dropped mines into the Strait of Hormuz.
News of Iran's Supreme Leader dead a rumor.
When talking about Iran’s decision to target them, Trump said it was the biggest surprise I had of this whole thing.Meanwhile, in a post on Truth Social late Saturday, Trump renewed his call for other nations to help secure the Strait.“The United States of America has beaten and completely decimated Iran, both Militarily, Economically, and in every other way, but the Countries of the World that receive Oil through the Hormuz Strait must take care of that passage, and we will help – A LOT.”Earlier in the day, Trump posted: “Many Countries, especially those who are affected by Iran’s attempted closure of the Hormuz Strait, will be sending War Ships, in conjunction with the United States of America, to keep the Strait open and safe. We have already destroyed 100% of Iran’s Military capability, but it’s easy for them to send a drone or two, drop a mine, or deliver a close range missile somewhere along, or in, this Waterway, no matter how badly defeated they are. Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation that has been totally decapitated. In the meantime, the United States will be bombing the hell out of the shoreline, and continually shooting Iranian Boats and Ships out of the water. One way or the other, we will soon get the Hormuz Strait OPEN, SAFE, and FREE! President DONALD J. TRUMP.”.Meanwhile, the Trump administration rejected efforts by Middle Eastern allies to start diplomatic negotiations aimed at ending the Iran war, Reuters reported on Saturday, citing three sources familiar with the efforts.Two senior Iranian sources told Reuters that Iran had also turned down talk of a ceasefire until US and Israeli strikes end. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
We’ve totally decimated it. Except, as you know, I didn’t do anything having to do with the energy lines, because having to rebuild that would take years.
Strikes on Kharg island totally demolished most of the island, but we may hit it a few more times just for fun.
On whether the US Navy would be escorting ships, I don’t want to tell you anything about that.
We’re going to be sweeping the strait very strongly.
And we believe we’ll be joined by other countries who are somewhat impeded, and in some cases impeded from getting the oil.”
It is not clear whether Iran has dropped mines into the Strait of Hormuz.
News of Iran's Supreme Leader dead a rumor.
When talking about Iran’s decision to target them, Trump said it was the biggest surprise I had of this whole thing.Meanwhile, in a post on Truth Social late Saturday, Trump renewed his call for other nations to help secure the Strait.“The United States of America has beaten and completely decimated Iran, both Militarily, Economically, and in every other way, but the Countries of the World that receive Oil through the Hormuz Strait must take care of that passage, and we will help – A LOT.”Earlier in the day, Trump posted: “Many Countries, especially those who are affected by Iran’s attempted closure of the Hormuz Strait, will be sending War Ships, in conjunction with the United States of America, to keep the Strait open and safe. We have already destroyed 100% of Iran’s Military capability, but it’s easy for them to send a drone or two, drop a mine, or deliver a close range missile somewhere along, or in, this Waterway, no matter how badly defeated they are. Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation that has been totally decapitated. In the meantime, the United States will be bombing the hell out of the shoreline, and continually shooting Iranian Boats and Ships out of the water. One way or the other, we will soon get the Hormuz Strait OPEN, SAFE, and FREE! President DONALD J. TRUMP.”.Meanwhile, the Trump administration rejected efforts by Middle Eastern allies to start diplomatic negotiations aimed at ending the Iran war, Reuters reported on Saturday, citing three sources familiar with the efforts.Two senior Iranian sources told Reuters that Iran had also turned down talk of a ceasefire until US and Israeli strikes end. Risk sentiment FAQs What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets? In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. Which currencies strengthen when sentiment is "risk-on"? The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. Which currencies strengthen when sentiment is "risk-off"? The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
