Markets closed out yet another dramatic week, flat, following the upheaval from the Israeli attacks on Iran. The longer this war continues, the more damaging for both nations and the Middle East as a whole. The US has joined the party and bombed three Iranian nuclear sites. This will escalate the crises and impact markets when they open. The week ahead will remain pre-occupied with the Middle East crises and the impact this will have on global markets. Oil prices have shot up and if the war continues, the US Dollar may become a temporary safety play. Markets will be looking towards the appearance by Federal Reserve Chairman Powell, before Congress, this coming Tuesday and Wednesday. The EUR regained 1.1500, while the GBP drifted to 1.3450, following the Bank of England inaction.Commodity currencies remain under pressure, with the AUD falling to 0.6400, while the NZD has completely surrendered 0.6000. The lack of a trade agreement with the US, when tariffs dominate the global trade mood, are impacting the Australasian currencies. Geo-Political issues look set to dominate markets for yet another week.
