Daily Alert – Friday 19th April 2024: Markets shrug off Israeli attack

Mark NugentApril 2024, Daily Alert

Daily Alert – Friday 19th April 2024: Markets shrug off Israeli attack

Good afternoon.

It’s a quiet end to a quiet week. There were some fireworks, literally, last night as Israel struck a military base in Iran. Thankfully, the damage was limited, and Iran are not talking about any tit-for-tat move. Equities, oil, and safe haven assets moved rapidly in the direction you would expect, and then moved rapidly back to where they were before the attack happened. So, like I said, a quiet end to a quiet week, thankfully.

Elsewhere, the G7 reaffirms their currency commitments. What does this mean? It is a recognition that there are harmful effects in large currency movements. This is G7-speak for “it’s OK for Japan to manipulate the Yen price, sorry, safeguard the economy by adjusting the Yen price.” So, we’ll continue to look out for that soon.

Have a great weekend. I’ll be back on Monday.

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