Quick Brief – Israel and Lebanon eye a potential ceasefire deal
- Israel and Lebanon reportedly close to a ceasefire deal, with more details expected on Tuesday
- Risk-off sentiment softens; gold retreats sharply to $2,626
In early US trading hours, there was positive news from the geopolitical front. According to a US official, Israel and Lebanon's Hezbollah are nearing a ceasefire agreement following recent shuttle diplomacy with the Biden administration.
The US-proposed plan involves a 60-day halt to hostilities. During this period, Israel would withdraw from southern Lebanon, the Lebanese army would be stationed near the border, and Hezbollah would relocate its weapons north of the Litani River. Additionally, the US is expected to send a letter of assurance, offering support for Israeli military action in response to immediate threats from Lebanese territory.
An Israeli official confirmed that the cabinet will meet on Tuesday to review the deal. While many developments could occur between now and then, the market reaction indicates that a deal could be real. As a result, gold has given up four days of gains, now trading around $2,626; a key support area within the lower boundary of a broad bullish channel.
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
