Gaza War Widens just before Forex Trade Resumes



The conflict in the Gaza strip widens. Israel began moving tanks and infantry towards the Gaza strip. In addition, the Israeli government announced that over 6,000 reserve soldiers will be drafted for fighting in Gaza.

The military collision that began yesterday is currently remote: Israeli airforce striked Hammas posts, and Hammas launched rockets as far as it could.

Forex traders will probably be listening to the news from the middle east, now that it dominates the news everywhere. It will affect oil producing countries, the US dollar and also the Japanese Yen. The most vulnerable currency pairs are AUD/USD, NZD/USD and USD/CAD.

The forex market is due to open in about 8 hours from the time of writing.

A weekly outlook for the forex market will be published later on today, similar to last week’s Forex Weekly Outlook.




About

Yohay Elam – Founder, Writer and Editor

I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me.

Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

4 Comments

  1. Bob Morley says:

    Yes oil for sure heading up. Dollar probably as well. Could the CHF be strong as well. Hasn't it rallied during some previous troubles? The stock market should drop. Do you think the USD/YEN will drop as well?

  2. admin says:

    Bob, the CHF is usually a currency that people cling to at troubled times, so it could benefit from a mideast conflict like we're seeing now.

    Yes. My speculation about the Yen is that it will drop. When oil prices rise and stock markets drop, the Yen gets strong on expense of the dollar.

  3. Bob Morley says:

    Yes So that CHF/YEN could be a real gangbuster. Great info thanks.

  4. admin says:

    Well, that's a conclusion you can make. I hope I'm right…

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