Iran and Israel attacked each other over the weekend, in a tit-for-tat, over the continued invasion of Lebanon by Israeli forces. Trump ordered an immediate halt to the reignition of aggression, to preserve the tenuous existing ceasefire. Oil prices traded around US$90/barrel, while US Chip-Maker shares, recovered some of Friday’s losses. The US Dollar remains in favour, with the EUR trading 1.1540, while the GBP held 1.3350.The stronger reserve depressed commodity currencies, with the AUD trading 0.7050, while the NZD struggles to hold 0.5800. Stronger than expected economic data out of Japan, was some positive news, with Q1 GDP growing by a more than expected 0.5%. All eyes remain on the Middle East and the consequences of the war, in terms energy prices and inflation.
