Global stock markets are falling in light of political tensions and economic uncertainty

18 Aug 2017 10:44 AM

Global stock markets have tumbled amid geopolitical tensions and uncertainty about economic conditions. Where confidence in European markets was shaken in the wake of the terrorist attack in Barcelona that killed 13 people, while there are still doubts about the ability of Donald Trump, the US president to implement his economic agenda of tax cuts and spending on infrastructure.
The protests in Virginia over the issue of ethnic discrimination and Trump's support have led to the possibility of leaving his senior staff and political aides, but the denial of the news has calmed the markets somewhat.
In the currency market, the US dollar continued its decline for the third day in a row against the Japanese yen after investors went to safe haven assets following the threats of North Korea, which had a role in the tension of the markets, the dollar currently trading at 109 levels near to a strong support at 108.75, with the break of it the door would be opened to a strong drop for the pair.
Oil prices rose significantly with the start of trading today, as the US crude rose from its lowest level since July 25 at 46.43 dollars, currently trading at the level of 47.50 dollars a barrel, Brent crude also rose strongly after rebounding from a strong level of support at the level of 50 dollars and currently test a resistance at 51.35 $.
The yellow metal is still trying to breach the strong resistance level at 1294 $, and if it succeeds, it will pave the way for it to exceed the 1300 $ level, and the failure would push it to fall targeting 1260/1250.

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