Investors’ risk appetite improved in Tuesday’s trading, following comments by US President Donald Trump, who said the war against Iran was nearing its end and stressed that US forces would protect maritime tankers passing through the Strait of Hormuz.
Following this statement, global stock performance has improved so far. The Asian session has closed and European stocks are currently trading with a clear advance evident to any market observer. In the European session, the German DAX index rose 1.74%, the British FTSE 100 also rose 1.14%, and the Euro Stoxx index for all of Europe rose 1.87%.
As for the Asian session, Japan’s Nikkei 225 index rose 2.88%, Hong Kong’s Hang Seng index climbed 2.17%, Australia’s ASX 200 also rose 1.09%, and China’s Shanghai index gained 0.65%.
But on the New York Stock Exchange, the Dow Jones Industrial Average opened down 0.46%, the Standard & Poor’s 500 also opened down 0.42%, and the Nasdaq 100 also fell 0.24%.
currency markets
The US dollar index declined slightly during today’s trading, and is currently recording a price of 98.73 against the basket of major currencies, marking the second consecutive day of this downward trend.
The euro rose to $1.163, and the British pound climbed to $1.344, while the Japanese yen saw relatively limited price movements, with the dollar at 157.86 yen.
Commodity markets
The price of gold rose slightly, regaining its luster for investors in the financial markets, and is now recording 5195 in the spot market, thus breaking through the resistance that it had been moving sideways below for more than a week.
The decline in oil prices was evident, with expectations that part of the strategic oil reserves would be pumped into the global supply by the G7 group of major countries. Brent crude is currently trading at $91.22 per barrel in the futures market, while West Texas Intermediate crude is at $87.88.
Aramco warns
Aramco CEO Amin Nasser warned that the ongoing war between the United States and Iran could cause a global energy crisis if it continues to affect the global economy. These statements come as Aramco announced its fourth-quarter earnings results for last year, which were better than expected. It is worth noting that it is the world’s largest oil producer, and its largest refinery was damaged by a fire resulting from an attack by Iranian fighter jets, but it announced that the damage was not severe.
