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July 19th - According to Iranian sources, the US military launched another attack on Qeshm Island in southern Iran that day. It is understood that at 6:10 AM local time, US warplanes struck parts of Qeshm Island again, with at least two explosions reported. Iranian officials have arrived in the affected area and are assessing the scale of the attack. Earlier that day, Iranian sources reported that around 3:38 AM local time, explosions were heard in multiple areas of Qeshm Island. Local residents said that "three to five missiles struck Qeshm Island." The US Central Command issued a statement on social media on July 18th, stating that the US military completed another round of airstrikes against Iran at 11:30 PM Eastern Time on July 18th (7:00 AM Iranian Time on July 19th).According to RIA Novosti: Russian Foreign Minister Sergey Lavrov and the UAE Foreign Minister held talks on the tensions in the Persian Gulf.July 19 – U.S. Central Command announced that it completed another round of strikes against Iran at 11:30 p.m. (Eastern Time) on July 18, under the direction of the Commander-in-Chief. In the eighth consecutive night of airstrikes, Central Command forces successfully targeted Iranian military coastal surveillance and air defense facilities, naval combat capabilities, and missile and drone storage sites, in an effort to continue weakening Irans military capabilities. The U.S. military also targeted Islamic Revolutionary Guard Corps forces, following their July 17 attack on U.S. service members in Jordan. Currently, more than 50,000 U.S. military personnel, both men and women, are deployed in the Middle East, maintaining a high level of vigilance, focus, lethality, and readiness.According to the New York Post: US President Trump stated that the US strikes prevented Iran from acquiring nuclear weapons. He added that if Iran is not stopped, the region could descend into a wider conflict.July 19 – According to Irans Mehr News Agency, the Iranian militarys public relations department stated that, in response to repeated enemy aggression and attacks on bridges, infrastructure, and demilitarized zones, hours earlier, during the sixteenth phase of Operation Lightning, the Iranian military launched a large-scale drone strike against a US terrorist army ammunition depot at Camp Adir in Kuwait, as well as Patriot radar and air defense radar used by the invading forces at the Ali Salim base in Kuwait. Camp Adir is a key US military base, located 104 kilometers from the Iranian border, and serves as a crucial support and reorganization center for the US military. Disrupting the bases operations will significantly impact US support operations in the region.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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