Oil above $50 as Gaza War Escalates

The price of oil is now above $50 per barrel, as the war in Gaza escalates. This affects the Ausralian and Canadian dollars.

AUD/USD is now at 0.7101, and USD/CAD is at 1.1884 as oil price sits above $50.

Hammas rockets have reached further into Israel. The Israeli army is operating deeper inside the Gaza strip, now seiging Gaza city. The IDF has suffered a few casualties in the last 24 hours.

Also the Lebanese front might join: reports in Lebanon indicate that Hizballah is mounting forces along the southern border. Nasrallah’s men say it’s only defensive, but a second front could be opened in the middle east, and this might be only a “Gaza War” or a “Gaza Conflict”.

Yohay Elam

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 a 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. Yohay's Google Profile

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