January 28, 2023

US embassy launch in Jerusalem overtaken by Palestinian killings > 15.05.2018 Highlights

US embassy launch in Jerusalem and Palestinian protests result in kills

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The relocation of US Embassy to Jerusalem from Tel Aviv, accompanied by celebrations; diplomatic missions’ absences; Gaza protest violence; and, finally, several deaths of Palestinians who were killed by Israeli troops.

President Donald Trump addressed the ceremony in a recorded video message, marking the move of the US Embassy as a “great day for Israel” and saying that the US would “always be a great friend to Israel and a partner in the cause of freedom and peace”. The festivities escalated tension in the border.

According to Palestinian health officials 58 people were killed and more than 2,000 were injured. It is the deadliest day since 2014 Gaza war.

The Israeli military supported that Palestinian protesters threw firebombs and explosive devices at the border fence and at Israeli soldiers deployed nearby, prompting them to respond with live fire. Israeli PM said his military was acting in self-defence against Gaza’s Islamist rulers, Hamas.

More protests and, therefore, more blood is expected today. Tuesday marks the 70th anniversary of what Palestinians call the Nakba – the mass displacement of Palestinians in the war following Israel’s creation.

Foreign leaders mostly treated both sides on equal terms, calling for peace.

Two Koreas agreed to hold high-level talks on May 16th in order to discuss ahead of the denuclearization of the Korean peninsula. The meeting will take place in the Peace House in Panmunjom. North Korea has scheduled the dismantlement of its nuclear bomb test site between May 23-25.

The 28 EU leaders are going to discuss over Iran economic sanctions on Wednesday and the options they have to protect the EU companies doing business with Iran.

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US Dollar’s inched up higher supported by a rise in US yields. The greenback rose against its rivals. It also rose against Yen, although US-China trade tensions seem to soften.

Euro pared back gains, loosing 0.1 percent, following previous day’s high after weaker-than-expected economic growth out of Germany and a rise in U.S. Treasury yields which helped the dollar recover.

Sterling edged up against the dollar on Tuesday after data showed UK employment jumped. It also traded flat versus the euro at 88.01 after weakening before the data release.

Gold prices fell as the US Dollar recovered, rebounding after a corrective pullback.

Oil prices remain steady close to 3-1/2 highs over supply concerns following increase due to OPEC’s report that the global oil has been virtually decreased, tension in the Middle East, and last week trader’s response to the announced US sanctions against Iran.

Sources: Reuters, Euronews, CNN Politics

PLEASE NOTE The information above is not investment advice.