Middle East Tensions and U.S. Interest Rates Impact Global Markets

In the past 24 hours, global financial markets have been affected by escalating tensions in the Middle East and uncertainty regarding the future of interest rates in the U.S. A decrease in ship traffic in the Strait of Hormuz has heightened concerns about energy supply disruptions, pushing Brent crude oil prices up by 1.95% to $98.11. Meanwhile, a decline in the dollar index and increased demand for safe-haven assets have raised the price of gold per ounce by 0.22% to $4,422. However, the rise in the yield of U.S. ten-year Treasury bonds to 4.788% and the likelihood of continued tight monetary policies have maintained pressure on riskier assets. In the cryptocurrency market, the total market value decreased by 0.89%, with Bitcoin falling by 1.49% to $78,590. Profit-taking after a significant one-month rise and the closing of leveraged positions have also intensified this retreat. In the Iranian market, Tether decreased by 0.81% to 223,955 tomans, neutralizing the effect of rising global gold prices and bringing the price of 18-carat gold per gram down to 23 million and 242 thousand tomans. The release of inflation data from the U.S. and the status of oil transit from the Strait of Hormuz will be important variables that will determine the trajectory of oil, gold, currency, and cryptocurrency markets.

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