Log in to today’s North American session Market wrap for October 7th
Today commemorates the second anniversary of the tragic massacre when Hamas soldiers invaded Israel, killing, raping, and kidnapping more than a thousand civilians.
Tomorrow will see the biggest meeting of Arab leaders regarding implementing the Trump 20-point Plan, which would impose a ceasefire and achieve a process towards peace in the region for the time to come.
The meeting will be held in Sharm el-Sheikh, Egypt, and will include the highest diplomatic delegates from Qatar, Turkey, and Egypt.
US Middle East envoy Steve Witkoff will also participate in the meeting and recently landed in Egypt.
Turning back to Markets, the cause for these flows isn’t known yet, but risk assets saw consequent rejection in today’s session, which even caught Gold and Silver in its crosshairs.
After suffering strong drops, Bitcoin rallied more than $1,000 from its daily lows, and US indices have followed suit.
Recovering above all the preceding peaks would put sentiment back on its high pedestal, but traders might be cautious in the waiting for more data and eventually a re-opening of the US Government.
The US Dollar has surprisingly been a big winner of the week, which may have had to play with today’s flows (Stops kicking? More to come?)
