25.06 - Iran-US tensions are causing a lot of troubles for us
Geopolitical tensions all over the world are leading us towards seeing just how much economy and politics are intertwined with each other. Political tension between USA and Iraq are only getting the power and we are only stuck seeing what they do to not only international political climate but to international traders as well.
Dollar keeps on sliding as it was U who started the conflict and of course traders were too scared on the perspective of full-on war playing out between two countries. Of course prices for oil caught some of that turbulence as well. But OPEC meeting which is taking place all day today might change that situation for the better as additional regulations might give the crude that needed strength.
Shares and indices in China, Hong Kong and Tokyo have lost ground from under their feet and we see clear slides in the major players’ performance. This might be the reaction to the upcoming meeting between the leaders of China and US – the two countries are long overdue to discuss their trade relationship as the trade war between them is causing a lot of troubles for all of us.
It is safe to say that we are probably not going to see a whole lot of movement further in the week as G20 summit is crawling closer and closer to us.
Here are the main changes for today:
Topix dropped 0.5 percent.
Kospi decreased 0.45 percent.
Shanghai Composite dropped 1.5 percent.
Hang Seng from Hong Kong was lighter by 1.3 percent.
MSCI Asia Pacific fell 0.3 percent.
S&P 500 futures dipped 0.2 percent.
Dollar lost 0.1 percent against the basket of six major currencies.
Euro costs $1.141 after having seen 0.1 percent gain.
Yen added 0.4 percent – 106.92 per dollar.
Pound was barely changed - $1.275 percent.
Apple dropped 0.1 percent - $198.58.
Facebook rose 0.8 percent – $192.6.
Amazon grew 0.1 percent - $1913.9 per share.
Tesla recovered 0.8 percent - $223.64.
WTI lost 1 percent - $57.32 per barrel.
Brent decreased 0.9 percent - $64.29 per barrel.
Gold added 1.2 percent - $1435.3 per ounce.
Silver grew 0.3 percent - $15.51 per ounce.
Platinum declined 0.1 percent – $814.44.