April 30, 2024 05:59 GMT
Equities Tick Lower & USD Firms, Geopolitical Risk Eyed
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The broader USD rallies further and equity futures weaken.
- While there hasn’t been much in the way of meaningful headline flow on the traditional newswires, we note that the Times of Israel has reported “the Ynet news site reports that Israel Defense Forces Chief of Staff Lt. Gen. Herzi Halevi approved final plans on Monday for military action in southern Gaza’s Rafah, along with refugee camps in the center of the Strip.”
- This suggests that an uptick in geopolitical risk premium is driving the moves, although crude oil futures and FI markets haven’t reacted.
- Increased hope of a ceasefire weighed on crude futures on Monday.
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