Our market is in a near state of paralysis or at least precariousness. It cannot be explained by the US remembering Martin Luther King yesterday because the tension in the current geopolitical hotspot of the world, the Red Sea and the Middle East is on the ascent.
One way to look at our market is that it is erratic, sometimes vicious and in the absence of any salient development that might help investors commit themselves to either direction for the long run it is driven by headlines.
Oil prices continue to trade in an untrustworthy fashion but the drivers that are running the current mini-trend are positive enough to recoup three-quarters of the losses experienced on Monday.
Copyright © 2025 TP ICAP