Monday morning open levels – indicative forex prices – 15 April 2024

It was a big weekend for geopolitics (read from the bottom up for the chronology):

• It’s the most-dangerous moment in geopolitics since the dawn of the Ukraine war

• Iran says it struck an Israeli military base in Nagev

• Pictures appear to show strikes landing in Israel

• Senior Israel official says there will be a ‘significant response’

• Video shows air defense active just above Israel, sirens sound, reports of explosions

• Iran says ‘the matter can be deemed concluded’

• Bitcoin plunges on Middle East war fears

• Iran fires ballistic missiles at Israel

• Iran launched barrage of drones toward Israel

Despite this major FX is not a lot changed. There are multiple ‘hot takes’ doing the rounds, the one with most credence as to why markets are, relatively, calm is that Iran gave wide notice in the days leading up to the attack that it would do so. While its too early to say this is over (way, way too early), so far the world seems to have gotten off lightly. Thats not the case for some individuals seriously hurt by the attacks, of course.

As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online … prices are liable to swing around, so take care out there.

Indicative rates:

• EUR/USD 1.0634
• USD/JPY 153.09
• GBP/USD 1.2447
• USD/CHF 0.9121
• USD/CAD 1.3779
• AUD/USD 0.6463
• NZD/USD 0.5942

Also helpful:

This article was written by Eamonn Sheridan at www.forexlive.com.