Indices rise but Oil slumps on ceasefire reports

Chris Beauchamp IG

Indices have begun the week on the front foot, but news of a ceasefire in Lebanon has weighed heavily oil prices, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Dow pushes to new highs

November saw the Dow breach 44,000 for the first time, and there is a very real possibility that the index will surpass 45,000 in the same month. Stocks received a boost on Friday on news that Trump had chosen Scott Bessent for the US Treasury, a reassuring sign for investors. Thanksgiving week is generally positive for US markets anyway, but they have an extra spring in their step as the holiday approaches. Reports of a possible ceasefire in Lebanon have bolstered risk appetite too, though it has done little for oil and gold, both of which seem poised for more losses.

FTSE 100 climbs

The past two weeks have helped repair a lot of the damage in the FTSE 100, which has continued its recovery from the 8000 low. Unlike US indices, the FTSE 100 is still some way off a new high, but with yields around the globe softening the index has recouped some of its lustre. So far the market isn’t reading too much consumer weakness into the Kingfisher figures, preferring to hope for general Christmas splurge.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

GBP/USD remains slightly bid near 1.3300

GBP/USD now advances marginally and manages to dispute the 1.3300 region on Tuesday. Indeed, Cable regains some balance on the back of the lacklustre performance of the Greenback, all preceding the Fed’s meeting on Wednesday and the BoE’s gathering on Thursday.

EUR/USD recedes from tops, back below 1.1400

EUR/USD manages to set aside part of the recent weakness and clinches decent gains on Tuesday. Indeed, spot keeps the trade below the 1.1400 mark amid acceptable losses in the US Dollar, all following rising optimism of a US-Iran deal and steady caution prior to the FOMC gathering on Wednesday.

Gold bounces on poor US data

Gold remains under marked downside pressure on Tuesday, although the $4,000 zone per troy ounce emerges as a decent support for now. The precious metal’s pullback comes despite the modest losses in the US Dollar in a context of easing geopolitical tensions ahead of the key Fed event on Wednesday.

XRP falls toward $1.00 despite dwindling exchange reserves

Ripple (XRP) continues to trade under increasing pressure on Tuesday. This marks the second consecutive day of declines, reflecting broader risk-off sentiment as investors appear to shift gears in anticipation of the Federal Reserve (Fed) interest rate decision. On Wednesday, the Federal Open Market Committee (FOMC) is widely expected to leave interest rates unchanged in the 3.50%-3.75% range.

Warning signs in the stock market: Is this the top, or just a very short fuse?

Overnight, South Korea's Kospi fell more than 10%, SK Hynix lost close to 15% and Samsung Electronics lost 13%. Into that, Dow Jones Industrial Average futures traded up around 1% on paint and soft drinks, and S&P 500 futures sat roughly flat. An index that absorbs a memory-chip panic and prints nothing is not a calm market.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.