NATO versus Russia

Daily Analysis - 26/06/2019

NATO ordered Russia to destroy its short range nuclear missiles


NATO told Russia to destroy its short-range nuclear missile system. If Russia does not comply then NATO will be forced to react.

Earlier United States announced that will break the treaty that has with Russia if they fail to destroy the missile system. The agreement between the U.S. and Russia attempted to eliminate nuclear and conventional missiles and their launchers with a short range.

The Alliance said the SSC-8 disrupts the terms and Russia has been extending the system at positions that could threaten countries across Europe.

Gold fell more than 1%

On Wednesday Gold fell more than 1% leaving behind a six-year top that it touched yesterday. The reason behind the drop is the fact that U.S. Federal Reserve executives drove down the expectations of aggressive rate reductions, while traders secured their gains following a powerful rally.

US gold futures dropped almost 0.5% to $1,413.29 an ounce.

Spot gold fell more than 1% at $1,405.59 per ounce while going for its first drop in a week.

Yesterday Gold prices touched their highest-priced level since 2013 at $1,438.60.


U.S stockpiles fall and the Oil is going up

On Wednesday Oil increased more than 1% to its highest level in almost a month while industry numbers revealed that U.S. crude stockpiles declined more than expected. That fact pressed the market, which has already retracted by concerns over a possible US-Iran conflict.

Analysts stated that the increases were largely driven by the American Petroleum Institute that registered a decline in U.S. crude inventories.

The U.S. crude stockpiles dropped by 7.5 million barrels last week.

Brent crude futures, went up 1.3% to $65.910.


Dow passed the 150 points drop

On Tuesday U.S Stocks declined, driven by sharp drops in the technology sector following comments from top Federal Reserve executives. Their comments reduced investor confidence over a possible rate reduction next month. The Dow Jones fell about 179 points, registering its largest single-day decline since last month, at 26,548.20.

The S&P 500 fell almost 1% to finish the day at 2,917.37. The Nasdaq Composite fell 1.5% to 7,884.70. Microsoft shares dropped more than 3% following top analyst comments that sparked concerns covering the company’s cloud service, Azure. The comments mainly compared Azure progress versus the rival Amazon.


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