After Initial Reaction, Gold And Oil Have Given Back Earlier Gains, And The Greenback Extends The Pre-Weekend Gains

Summary

• The S&P 500 and Nasdaq have a two-week decline in tow.
• The greenback is broadly higher against the G10 currencies today, led by the antipodean currencies and the yen, which are off more than 1%.
• The Dollar Index recovered from slightly below 97.70 last Monday to about 99.15 on Thursday before consolidating ahead of the weekend. It is trading firmer today near 99.30-40 in late European morning turnover.

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Overview

The US struck Iran amid subterfuge and misdirection and while damage was inflicted, it is not clear the extent to which is nuclear capability was destroyed. Now, the world waits for Tehran's retaliation. Still, gold is slightly softer and August WTI is