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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.