US Pres. Trump threatens heavy price if Iran conducts 'sneak attack' – CNN

Anil Panchal FXStreet

Amid the early Thursday morning in Asia, US President Donald Trump flashed stark warnings to Iran if it continues to sneak attack on US troops and/or assets in Iraq, as per CNN. The news relies on the US President’s tweet that the administration has information that "Iran or its proxies are planning a sneak attack on US troops and/or assets in Iraq." The news piece also mentioned, while relying on the US official, that the President's tweet, which the White House did not elaborate upon, comes as the US has picked up more intelligence in the last several days from an ongoing stream indicating that Iranian-backed militias inside Iraq are potentially planning an attack against US forces in the near future.

It should also be noted that the Republican leader reiterated his warnings for “two horrible weeks” due to coronavirus crisis while also saying to not know if China is honest about the corona.

Furthermore, President Trump said to meet with oil companies on Friday while signaling a truce between Russia and Saudi Arabia as saying, "I have confidence in both that they'll be able to work it out."

Market implications

The news helps WTI to extend its latest recovery moves to piece $21.00.

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.

AUD/USD weakens to two-week lows near 0.6960

AUD/USD clinches its second consecutive daily pullback as market participants continue to assess the RBA’s rate hike earlier in the day. Indeed, the pair slipped back toward the 0.6960 zone, or multi-day troughs, following the less-hawkish-than-expected message from the RBA after it hiked the OCR by 25 bps, as widely anticipated.

USD/JPY fails near 159.00 amid weak USD, intervention risks

USD/JPY edges lower during Tuesday’s Asian session, reversing part of the previous day's gains to 158.00 as the US Dollar remains depressed amid hopes for Iran diplomacy and ahead of US midterm elections. Meanwhile, intervention risks support the Japanese Yen, though the uncertainty over the timing of the next BoJ rate hike caps gains. This keeps the pair confined within a familiar range and warrants caution before placing directional bets.