The U.S. attack on an Iranian oil tanker severely disrupted shipping in the Strait of Hormuz, sending Brent crude prices up 1.8% to $99.68 per barrel. The global oil benchmark has risen over 60% this year and is approaching the $100 mark for the first time since July.
Fresh attacks on energy infrastructure amid escalating conflict between Iran and the United States could drive oil prices higher and further complicate inflation and interest rate outlooks. Investors will closely watch whether the latest round of hostilities disrupts supply further, while Friday’s U.S. consumer price report will serve as another key indicator of expectations for a Federal Reserve rate hike on September 15–16.
Meanwhile, Asian chip stocks continued their recent rally, driven by sustained investor interest in artificial intelligence-related trading. South Korea’s KOSPI index rose 1.5%, led by gains in the country’s two major chipmakers, SK Hynix and Samsung Electronics. This followed a 1.3% rise in the U.S. Philadelphia Semiconductor Index (SOX) on Tuesday. The MSCI Asia-Pacific Index advanced 0.6%, with the information technology sector contributing the most.
Asian semiconductor manufacturers’ share prices remain strong, as markets remain optimistic they will be among the biggest beneficiaries of the global rollout of AI technology. The KOSPI has surged 67% this year, making it the best-performing major stock index globally.
On the other hand, the yen strengthened for the third consecutive day after U.S. Treasury Secretary Scott Bessenroth challenged traders to counter his efforts to boost the currency. Bessenroth claimed that his current market forecasts are actually based on insider information.
Plugin Case Examples
Gold: Overnight, prices fell from 4400 to 4340 due to rising oil prices but have since recovered most of the losses. Today, focus on potential strong support around the 4300/4330 zone—consider placing a buy order here. Additionally, if prices reclaim 4415, consider a buy limit entry on a pullback.
(Gold 15-minute chart)
Nasdaq: After entering the yellow alert zone indicated by the plugin overnight, prices rebounded toward 29,650 but failed to break through. Today, look for buying opportunities on a retest following a breakout at 29,650. Also monitor the bounce after liquidity clears below 29,400.
(Nasdaq 15-minute chart)
Crude Oil: Prices are approaching the $95 level after apparent intervention pushed them lower. We do not recommend further bullish positions; instead, maintain caution or wait for a breakdown below $92 before considering a sell on a pullback.
(Crude Oil 15-minute chart)
Key Financial Data and Events Today:
20:15 U.S. ADP Employment Change for Week Ending August 22 (in thousands)
