US President will visit Israel to discuss conflict with Hamas
US President Joe Biden is set to visit Israel to discuss the ongoing conflict with Hamas, following Prime Minister Benjamin Netanyahu’s agreement to allow humanitarian aid to reach Gazans. Israel has threatened to destroy Hamas after a rampage killed 1,300 civilians. Biden will hear from Israel about its operations and how it will minimize civilian…
Gold dropped after soaring high last week
Gold prices dropped on Monday due to technical selling, but concerns of a Middle East escalation held bullion over $1,900 per ounce. Spot gold was down 0.9% to $1,915.10 per ounce, while US gold futures fell 0.7% to $1,928.60. Gold is holding up well due to uncertainty about the Middle East and the need for…
Hamas using cryptocurrencies to avoid international restrictions
Hamas, the Islamic Resistance Movement, is using a global finance network to avoid international restrictions by sending money through Gaza tunnels or using cryptocurrencies. Israel has froze a Barclays bank account related to Hamas fundraising and restricted cryptocurrency accounts used to collect payments. Hamas’ $300 million budget comes from corporate taxes, Iran, Qatar, and charity.…
Oil prices rose above $90 a barrel due to Israel war
Brent oil futures remained above $90 a barrel on Monday, following a peak on Friday due to the intensifying Israel-Hamas conflict. Analysts believe the Hamas-Israel conflict is one of the biggest geopolitical risks to oil markets since Russia invaded Ukraine last year. Israeli air raids on Gaza intensified after diplomatic efforts to secure a ceasefire…
The Fed are likely to raise rates due to strong economy
The Federal Reserve will maintain interest rates constant for the second month in a row next month, but will not stop tightening. Hawk-dove policymakers have indicated they may not raise rates at their Oct. 31-Nov. 1 meeting due to rising bond yields, which have tightened financial conditions. The Federal Open Market Committee is likely to…
These banks earnings season is increased after FED rates rise
The third-quarter earnings season will focus on the Federal Reserve’s interest rate hikes’ impact on corporate America. JPMorgan Chase, Citigroup, and Wells Fargo are holding up, but CEO Jamie Dimon warns of risks in the earnings report. Middle East geopolitical concerns, such as the war in Ukraine and attacks on Israel, could cloud the economy.…
Global economy could affected by Israeli-Hamas war
The Israeli-Hamas war has raised geopolitical concerns for financial markets, as investors await if it involves other countries that could raise oil prices and hurt the global economy. Israel plans to let Gazans flee south as its troops prepare for a ground invasion on Hamas-controlled Gaza in reprisal for escalating Hamas violence. Oil prices rose…
Constitutional proposal result in Australia would delay reconciliation for years
Australia has rejected a constitutional proposal to recognize Indigenous people, a significant blow to reconciliation with its First Peoples. The first referendum in 25 years asked Australians to vote “Yes” or “No” on creating an Indigenous advisory body, the “Voice to Parliament”. The “No” vote led to a nationwide majority of “Yes” votes, with ABC…