Israel carries out ‘pre-emptive’ strikes on Lebanon as Hezbollah launches drones and rockets
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Hezbollah launched hundreds of rockets and drones at Israel early on Sunday, as Israel’s military said it carried out a wave of pre-emptive strikes across southern Lebanon to thwart a large-scale rocket and drone attack by Hezbollah, per Reuters. Israel’s foreign minister said the country did not seek a full-scale war, but Prime Minister Benjamin Netanyahu cautioned that “this is not the end of the story.” Meanwhile, Hamas rejected new Israeli conditions in Gaza ceasefire talks, casting doubt on the prospects for a breakthrough in US-backed attempts to end the 10-month-old conflict. Market reaction At the time of writing, the gold price (XAU/USD) is trading 0.11% higher on the day to trade at $2,515. Risk sentiment FAQs In the world of financial jargon the two widely used terms “risk-on” and “risk off” refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend…
Filed under: News - @ August 26, 2024 12:58 am