Morning Bid: Tit for tat
As tensions rise, oil prices soar past $100 per barrel for the first time since July, driven by renewed hostilities between Iran and U.S. forces in the Middle East. The conflict has forced the U.S. to impose bans on certain Canadian imports, escalating trade disputes. Brent crude and natural gas prices have climbed to three-year highs, mirroring the escalating geopolitical strife.
Meanwhile, Japan's yen strengthens near a seven-month peak amid speculation of another Bank of Japan interest rate hike. Markets brace for U.S. inflation reports and a Treasury Secretary buyback plan, while China reports rising consumer and producer prices, largely attributed to energy cost increases.
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