Market Talk – May 7, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 increased 599.03 points or 1.57% to 38,835.10 Shanghai increased 7.02 points or 0.22% to 3,147.74 Hang [...]
Trouble in Saudi Arabia
Political instability is rising in Saudi Arabia. The Saudi king has fired his longtime Secretary of Energy and the head of the central bank has been replaced. The royal family is now fighting to sustain power.
The fall in the price of oil is having a political impact within the power structure of Saudi Arabia. Eventually, the rise in the dollar on world markets will force the peg to fail. As that develops, we should pay attention for this type of event may lead to a very serious political situation that could change the structure of government. The risks begin to build in June, October, and then next March.
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