US: Americans "Resoundingly" Support Trump's Gaza Peace Plan
Oct-15 17:29
A new report from I&I/TIPP has found that US voters “resoundingly” support President Donald Trump’s peace plan for Gaza. TIPP notes, “59% said they would either support the deal “strongly” (30%) or “somewhat” (29%), while just 18% opposed the deal either “strongly” (9%) or “somewhat”. A large 23% of Americans said they were not sure.”
- “There were differences in support when it came to political affiliations, but all of the parties — Democratic Party (46% support, 30% oppose), Republican (78% support, 9% oppose) or independent (53% support, 18% oppose) — showed either a majority or plurality of support,” adds TIPP.
- The peace plan is facing its first significant test, with Israel accusing Hamas of refusing to adhere to the agreed-upon time frame for returning the remains of deceased hostages. In response, Israel has slowed the supply of aid into Gaza.
- When asked by reporters yesterday “how long will it take Hamas to disarm? And can you guarantee that is going to happen?” Trump replied: “If they don't disarm, we will disarm them and it will happen quickly and perhaps violently, but they will disarm.”
- Semafor notes, “Hamas, which returned more bodies after Israel’s threat, will “play along” with the ceasefire, an expert on the group wrote in Foreign Affairs. But it “will fight tooth and nail to preserve its political and military standing in Gaza.””
Figure 1: “Do you support or oppose the Trump peace plan for Gaza?”
Source: TippInsights
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- ESZ5 has softened a little in recent trading but at 6672.00 (+0.4%) still trades close to its earlier fresh all-time high of 6681.25, with gains at the time extended by Trump suggesting a move to semi-annual reporting for corporates.
- Next resistance is seen at 6685.25 (1.00 proj of Aug 1-15-20 price swing) after which lies the round 6700. Support meanwhile isn’t seen until 6546 (20-day EMA).
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- Leaders: Communication services (+2.0%), consumer discretionary (+1.4%) and IT (+0.5%).
- Laggards: Health care (-1.0%), consumer staples (-0.8%) and materials (-0.6%).
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COMMODITIES: Gold Hits Fresh All-Time High, WTI Crude Climbs
Sep-15 16:42
- Gold has rallied to a fresh all-time high on Monday amid broad dollar weakness ahead of Wednesday's FOMC meeting, when a 25bp rate cut is widely expected. Bullion may also be benefitting from continued Fed independence concerns after President Trump called again for rates to be cut.
- Spot gold has risen by a further 1.0% to $3,681/oz, taking total gains this month to almost 6%.
- Gold remains in a clear bull cycle, with the break higher confirming a resumption of the primary uptrend. Above here, attention turns to round number resistance at the $3,700 handle, followed by $3,716.5, a Fibonacci projection.
- Similarly, silver has also rallied by 0.9% to $42.6/oz.
- Trend signals in silver remain bullish, with today’s move piercing resistance at $42.606, a Fibonacci projection. Above here, next resistance is seen at $42.974, the 2.382 projection of the Jul 31 - Aug 14 - 20 price swing, followed by $43.000 round number resistance.
- Meanwhile, WTI crude is also trading higher, with the market weighing the impacts of further Ukrainian drone attacks on Russian energy infrastructure.
- WTI Oct 25 is up by 0.9% at $63.3/bbl.
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