Trump administration considers 14,000 more troops for Middle East – WSJ

Anil Panchal FXStreet

Providing additional information on the fresh tussle between the United States (US) and Iran, after the US navy spotted missile parts linked to Iran, the Wall Street Journal (WSJ) came out with the story that says the Trump administration is looking to deploy around 14,000 more troops in the Middle East. The news relies on anonymous US officials.

Key quotes

The Trump administration is considering a significant expansion of the U.S. military footprint in the Middle East, including dozens of more ships, other military hardware and as many as 14,000 additional troops to counter Iran.

The deployment could double the number of U.S. military personnel who have been sent to the region since the start of a troop build-up in May. President Trump is expected to make a decision on the new deployments as soon as this month.

FX implications

Such news has twin impacts, first on the market’s risk sentiment and the other one on the crude prices due to the Middle East inclusion. Though no major reaction to the piece could be witnessed by the press time of early Thursday morning in Asia as the USD/JPY stays little changed around 108.90 and WTI seesaws near $58.45/50.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD slumps below 1.1800 on hawkish Fed Minutes, eyes on ECB succession

The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar strengthens against the Euro on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated.

GBP/USD struggles near four-week low vs. USD, below 1.3500 amid BoE rate cut bets

The GBP/USD pair is seen consolidating its weekly losses registered over the past three days and oscillating in a narrow range near a four-week trough, touched during the Asians session on Thursday. Spot prices currently trade just below the 1.3500 psychological mark and seem vulnerable to slide further.

Gold yearns for acceptance above the $5,000 mark

Gold preserves 2% advance seen on Wednesday as buyers gather pace early Thursday. The US Dollar holds January Fed Minutes-led gains ahead of more US macro data. Gold needs a sustained break above the key $5,000 barrier; daily RSI stays bullish.

Top Crypto Gainers: World Liberty Financial, Sky, and Cosmos confront major resistance

World Liberty Financial, Sky, and Cosmos rank among the top gainers over the last 24 hours but face critical overhead resistance levels. WLFI gained momentum at the World Liberty Forum, an invite-only conference held at Mar-a-Lago by US President Donald Trump’s family, while SKY and ATOM reversed off a crucial support level.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.