Oil inflation shock may hit harder than that from Covid
The Iran war inflation shock could be larger than that of the Coronavirus pandemic. You think it’s overstretched? It’s not.

The Iran war inflation shock could be larger than that of the Coronavirus pandemic. You think it’s overstretched? It’s not.
EUR/CHF remains rangebound and headline-driven, with 0.92 as key resistance and 0.91 as the main support zone to watch for a potential rebound.
GBP/JPY remains in a bullish trend, with 214 holding as support and a break above 216 likely opening the way for a move toward 222.
Bitcoin continues to trade sideways in an apparent accumulation phase, with 72,000 acting as key support and 77,000 as the trigger for a stronger upside move.
Today’s Gold Support Points: $4690 – $4630 – $4570 per ounce.
The USD/SGD exchange rate has remained under pressure in the past few weeks as the US dollar has softened recently. It was trading at 1.