Analyzes

Gold is lacking a clear direction, gyrating around the $4,650 mark in Asian trading on Tuesday, after having faced rejection at higher levels on several occasions.

The Aussie Dollar continues to swing in line with the alternating risk appetite trends, all in response to a volatile geopolitical scenario in the Middle East.

The Dow Jones Industrial Average gained a slim 90 points on Monday in the first session following the Good Friday market closure. The index pushed toward 46,600 in early trading before fading through the midday session, finding support near 46,400 on the intraday chart.

The Iran war is reviving painful memories for the Fed as costs related to energy, shipping, food and semiconductor materials are all surging at once.

Risk aversion took over financial markets at the beginning of the week, as United States (US) President Donald Trump threatened to destroy Iran’s infrastructure by the end of the ten-day truce if the country does not reopen the Strait of Hormuz by Tuesday, 8:00 pm Eastern time.

The USD/ZAR pair rose for two consecutive days as the US dollar rebounded after the latest US jobs report. It rose to 17, up slightly from last week’s low of 16.68. The South African rand has retreated by 8.6% from its highest point this year.