Houthi attacks in Red Sea causing bigger impact on supply chain than early pandemic
Source Fxstreet
A maritime advisory firm Sea-Intelligence said the disruptions to shipping from the Houthi rebel attacks in the Red Sea are already more damaging to the supply chain than the early COVID-19 pandemic.
The vessel capacity drop is the second largest in recent years. The only single event with a bigger impact than the Red Sea crisis was “Ever Given,” the giant cargo ship that got stuck in the Suez Canal for six days during March 2021.
Market reaction
At the time of writing, the US Dollar Index (DXY) is trading near 103.17, down 0.08% on the day.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin consolidates above $92,000 and the 100-hour SMA as traders eye a breakout toward $96,450 or a potential retracement to $90,500 support.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Silver (XAG/USD) enters a bullish consolidation phase during the Asian session and oscillates in a narrow range near the all-time peak, around the $61.00 neighborhood, touched this Wednesday.
Solana (SOL) targets a breakout above $145 as four days of ETF inflows, rising futures open interest, and growing on-chain liquidity signal a return of bullish momentum.
Gold Price Forecast: XAU/USD drifts higher above $4,200 as Fed delivers expected cutGold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.
Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.
