Latest news with #DavidMorrison
Telegraph
2 days ago
- Business
- Telegraph
Trump triggers dollar's worst start to year since 1973
Donald Trump has put the dollar on course for its worst start to a year since 1973 after his trade policies rocked the American economy. The US currency has fallen nearly 11pc so far in 2025 against a basket of major currencies that includes the pound, the yen and the euro. It marks the weakest first half of a year since the end of the gold standard system 52 years ago. The dollar's decline has lifted the value of sterling and the euro to four-year highs of more than $1.37 and $1.17, respectively, as investors bet on lacklustre US growth. 'Trump's tariffs, the fact that many investors view his administration as somewhat chaotic, along with concerns over US national debt have seen the dollar fall out of favour,' said David Morrison of Trade Nation. President Trump's tariff onslaught sent US assets plunging earlier this year amid concerns that the era of so-called American exceptionalism was coming to an end.
Yahoo
25-06-2025
- Business
- Yahoo
Bitcoin price regains ground as Israel-Iran tensions simmer
Bitcoin (BTC-USD) recovered some of its recent losses on Tuesday, heading 3.5% higher by the afternoon to trade around the $105,427 mark as the world waits for more news on the Iran-Israel ceasefire. The digital commodity, which is typically sensitive to macro events is up 12.8% for the year to date following a slew of crypto-friendly policy decisions by the Trump administration, but had lost around 2.2% over the past month due to a number of other factors. Bitcoin's rally on Tuesday tracked an uptick in global equity markets, after president Donald Trump said in a post on Truth Social that Iran and Israel had agreed a ceasefire. Later on Tuesday, he said both sides had violated the ceasefire. This time last month bitcoin's price against the dollar was at an all-time high of nearly $112,000, but turmoil in the Middle East and uncertainty around US trade and tariff policy has led investors out of riskier assets. "Cryptocurrencies bounced back strongly overnight supported by renewed investor confidence and a shift into higher-risk assets. Bitcoin pushed back above $105,000 having started the week below $100,000," said David Morrison, senior market analyst at FCA regulated fintech and financial services provider Trade Nation. Bitcoin headed higher as the dollar index ( dipped 0.6%. "The US dollar resumed its downward trajectory as safe haven inflows were reversed, the US current account gap widened in Q1 and house prices rose the least in 20 months," said Axel Rudolph, senior technical analyst at online trading platform IG. "The euro was helped by Germany's business climate which hit its highest level in nearly a year with EUR/USD briefly rising to $1.1641, its highest level since October 2021." Other cryptocurrencies also moved higher, with the second largest digital asset, Ethereum, up 6.8% to trade around the $2,440 mark.
Yahoo
24-06-2025
- Business
- Yahoo
Bitcoin price regains ground as Israel-Iran tensions simmer
Bitcoin (BTC-USD) recovered some of its recent losses on Tuesday, heading 3.5% higher by the afternoon to trade around the $105,427 mark as the world waits for more news on the Iran-Israel ceasefire. The digital commodity, which is typically sensitive to macro events is up 12.8% for the year to date following a slew of crypto-friendly policy decisions by the Trump administration, but had lost around 2.2% over the past month due to a number of other factors. Bitcoin's rally on Tuesday tracked an uptick in global equity markets, after president Donald Trump said in a post on Truth Social that Iran and Israel had agreed a ceasefire. Later on Tuesday, he said both sides had violated the ceasefire. This time last month bitcoin's price against the dollar was at an all-time high of nearly $112,000, but turmoil in the Middle East and uncertainty around US trade and tariff policy has led investors out of riskier assets. "Cryptocurrencies bounced back strongly overnight supported by renewed investor confidence and a shift into higher-risk assets. Bitcoin pushed back above $105,000 having started the week below $100,000," said David Morrison, senior market analyst at FCA regulated fintech and financial services provider Trade Nation. Bitcoin headed higher as the dollar index ( dipped 0.6%. "The US dollar resumed its downward trajectory as safe haven inflows were reversed, the US current account gap widened in Q1 and house prices rose the least in 20 months," said Axel Rudolph, senior technical analyst at online trading platform IG. "The euro was helped by Germany's business climate which hit its highest level in nearly a year with EUR/USD briefly rising to $1.1641, its highest level since October 2021." Other cryptocurrencies also moved higher, with the second largest digital asset, Ethereum, up 6.8% to trade around the $2,440 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al-Ahram Weekly
23-06-2025
- Business
- Al-Ahram Weekly
Oil prices seesaw as investors await Iran response to US strikes - Economy
Oil prices wobbled and stock markets wavered Monday as traders awaited Tehran's response to US strikes on Iranian nuclear facilities over the weekend. US and European stocks retreated while Asian equities were mixed, with markets keeping a close eye on whether Iran will block the crucial Strait of Hormuz, which carries one-fifth of global oil output. When trading opened on Monday, international benchmark crude contract Brent and US equivalent WTI both jumped more than four percent to hit their highest price since January. They later dipped briefly into the red and then wobbled, standing up 0.3 percent as Wall Street opened for trading. "Will Iran choose to choke off the Strait of Hormuz or not? That is the big question," said Bjarne Schieldrop, chief commodities analyst at SEB bank. But, "looking at the oil price this morning it is clear that the oil market doesn't assign a very high probability of it happening," he added. Iran is the world's ninth-biggest oil-producing country, exporting just under half of the 3.3 million barrels it produces per day. "The prevailing view appears to be that the US involvement will prove limited militarily, yet effective, by seriously undermining Iran's nuclear ambitions," said David Morrison, senior market analyst at Trade Nation. "Investors are also speculating that Iran's ability to retaliate has been severely restricted," he added. Tensions remained elevated however as Iran and Israel intensified attacks on each other on the war's 11th day. "The markets are not yet reacting with any degree of panic to the US airstrike on Iran's nuclear facilities as they await to see how Tehran responds," said AJ Bell investment director Russ Mould. Wall Street stocks opened slightly lower, with the S&P 500 index slipping 0.1 percent. In Europe, sentiment on the Paris and Frankfurt stock markets was also hit by a closely watched survey that showed eurozone business activity was almost stagnant again in June. London's stock exchange was lower with shares in airlines, including EasyJet and British Airways-owner IAG, suffering losses on fears of rising energy costs and disruptions in travel to the Middle East. In Asia, Tokyo was lower while Hong Kong and Shanghai gained. "So far, satellite images reportedly suggest that oil continues to flow through the Strait, which may explain the muted market reaction to the news," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. She added that there is optimism that Iran will avoid full-blown retaliation "to prevent its own oil facilities from becoming targets and to avoid a widening conflict that could hurt China -- its biggest oil customer." But "if things get uglier" the price of US crude could even spike beyond $100 per barrel, she said. Brent was trading at above $77 per barrel on Monday while WTI was around $74. The dollar rose against other currencies but analysts questioned to what extent this would hold out. Follow us on: Facebook Instagram Whatsapp Short link:
Wall Street Journal
19-06-2025
- Business
- Wall Street Journal
Gold Futures Fall as U.S. Dollar Strengthens
1232 GMT – Gold futures fall on U.S. Federal Reserve comments and a strengthening in the dollar. Futures are down 0.8% at $3,381.50 a troy ounce. The precious metal slid following Wednesday's meeting, which saw the Fed keep monetary policy unchanged and caution of continued inflation risks from tariffs. Higher interest rates for longer typically damp investor enthusiasm for non-yielding bullion. The pullback in gold coincided with a rally in the U.S. dollar, with gold drifting lower overnight, Trade Nation's David Morrison says in a note. The short-term outlook is uncertain, and many traders will be basing their decisions on where the U.S. dollar goes next, Morrison adds. ( 1033 GMT – Gold futures fall as markets pare back safe-haven bets. Futures are down 0.4% at $3,394.40 a troy ounce. Gold has perhaps surprisingly continued to trade in a tight range despite flaring Middle East geopolitical tensions, Pepperstone's Michael Brown says in a note. The precious metal briefly surged last Friday after Israel's initial strikes on Iran before rapidly paring gains, though some degree of safe-haven demand has lingered, Brown says. This demand has kept gold underpinned even if the initial impulsive rally has fizzled out. The risk balance continues to point to further short-term upside for gold as participants will seek to hedge against risk ahead of the weekend, Brown writes. Pepperstone remains in dip-buying mode for gold, and the longer-term bullish case for gold remains solid, he adds. (
