What happens overseas is a rare topic here on investor crunch, but occasionally, we need to recall how not all events that move domestic markets happen on U.S soil. Therefore, as important as it is to keep up with domestic financial affairs, it’s often helpful to stay up to date on broader global events that may not appear financially related on the surface. This may be even more pronounced if you are a commodities investor or believe a specific commodity like oil could majorly affect the inflation rate.
Just yesterday, the United Arab Emirates intercepted two ballistic missiles shot by Yemen’s Houthi rebels. The rockets were intercepted over Abu Dhabi early Monday. This marks the second attack in a week that targeted the Emirati capital. The implications of the attack on the private sector are problematic, as the Emirates is most often seen as a business and tourism-friendly location. For years, the country has upheld its reputation as a safe home in an otherwise-dangerous neighborhood. Also controlling 6% of the world’s natural gas and oil supplies and being a member of OPEC+, the UAEs reputation and capabilities remain integral to commodities markets. What do you think about the attacks and will it settle down soon?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.