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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6857.13
6857.13
6857.13
6865.94
6827.13
+7.41
+ 0.11%
--
DJI
Dow Jones Industrial Average
47850.93
47850.93
47850.93
48049.72
47692.96
-31.96
-0.07%
--
IXIC
NASDAQ Composite Index
23505.13
23505.13
23505.13
23528.53
23372.33
+51.04
+ 0.22%
--
USDX
US Dollar Index
98.850
98.930
98.850
98.980
98.850
-0.130
-0.13%
--
EURUSD
Euro / US Dollar
1.16571
1.16579
1.16571
1.16577
1.16408
+0.00126
+ 0.11%
--
GBPUSD
Pound Sterling / US Dollar
1.33446
1.33455
1.33446
1.33446
1.33165
+0.00175
+ 0.13%
--
XAUUSD
Gold / US Dollar
4219.44
4219.85
4219.44
4221.12
4194.54
+12.27
+ 0.29%
--
WTI
Light Sweet Crude Oil
59.330
59.367
59.330
59.469
59.187
-0.053
-0.09%
--

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Dollar/Yen Down 0.33% To 154.61

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Kremlin Says No Plans For Putin-Trump Call For Now

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Kremlin Says Moscow Is Waiting For USA Reaction After Putin-Witkoff Meeting

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Cctv - China, France: Say Both Sides Support All Efforts For A Ceasefire, Restore Peace According To Intl Law

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[Chinese Ambassador To The US Xie Feng Hopes Chinese And American Business Communities Will Focus On Three Lists] On December 4, Chinese Ambassador To The US Xie Feng Delivered A Speech At The China-US Economic And Trade Cooperation Forum Jointly Hosted By The China Council For The Promotion Of International Trade And The Meridian International Center. Xie Feng Said That In November 2026, China Will Host The APEC Leaders' Informal Meeting For The Third Time In Shenzhen, Guangdong Province. In December 2026, The United States Will Also Host The G20 Meeting. Regarding How Chinese And American Business Communities Can Seize These Opportunities, He Suggested Focusing On Three Lists: First, Continue To Expand The Dialogue List; Second, Continuously Lengthen The Cooperation List; And Third, Constantly Reduce The Problem List

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India's Nifty Financial Services Index Extends Gains, Last Up 0.75%

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Eni : Jp Morgan Cuts To Underweight From Overweight

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Cctv - China, France: Signed Protocol On Sanitary, Phytosanitary Requirements For Export Of French Alfalfa Grass

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India's NIFTY IT Index Last Up 1.3%

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India's Nifty 50 Index Rises 0.35%

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Israel Sets 2026 Defence Budget At $34 Billion

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Russia Says Azov Sea's Port Of Temryuk Damaged In Ukrainian Attack

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Israel's Defense Budget For 2026 Will Be 112 Billion Israeli Shekels - Defense Minister Office

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One India Rate Panel Member Ram Singh Was Of View That Stance Should Be Changed To 'Accommodative' From 'Neutral' - Monetary Policy Committee Statement

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Reserve Bank Of India Chief: Will Continue To Meet Productive Needs Of Economy In Proactive Manner

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Reserve Bank Of India Chief: System Level Financial Parameters Of Nbfcs Sound

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Reserve Bank Of India Chief: Dollar Rupee Swap To Be For 3 Years, To Be Conducted This Month

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India's Nifty Realty Index Extend Gains, Last Up 1.4%

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India's Nifty Psu Bank Index Rises 1%

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Reserve Bank Of India Chief: Commited To Providing Sufficient Durable Liquidity

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          Carney Says Canada-US Tariff Deal ‘Possible’ By Next Week

          Thomas

          Economic

          Summary:

          Prime Minister Mark Carney says it’s “possible” that a trade deal will be reached with the US ahead of the Asia-Pacific Economic Cooperation summit next week.

          Prime Minister Mark Carney says it’s “possible” that a trade deal will be reached with the US ahead of the Asia-Pacific Economic Cooperation summit next week.

          Speaking to reporters Tuesday morning, Carney said Canada is in “intensive negotiations” with the US and that he expects to see President Donald Trump at the summit in Gyeongju, South Korea.

          “It’s possible, but we’ll see,” Carney said on the potential for a deal. Still, he emphasized the importance of his government’s talks with Asian nations, including China, as Canada looks to diversify its trade beyond the US.

          Meanwhile, Dominic LeBlanc, Canada’s minister responsible for US trade, tempered expectations on the timing of a deal.

          “I think it’s a bit overoptimistic to claim that we’re a few days away from reaching a deal,” LeBlanc said.

          The minister said he doesn’t want to set an “artificial deadline” on the timing, but he also said there was positive momentum in the negotiations.

          “We’re making progress, we’re into a level of detail that we hadn’t seen previously, but we still have work to do,” said LeBlanc, who returned from his latest trip to Washington on Friday.

          The comments followed a report in the Globe and Mail that an agreement may be struck by the APEC summit, which will be held Oct. 31 to Nov. 1.

          Carney visited Trump earlier this month in the Oval Office in a bid to further trade talks.

          During their meeting, Trump said he expects the US and Canada can eventually reach a trade deal, but he remained vague about how and when an agreement might be achieved.

          Negotiators have been focused on striking a deal that would offer Canada some relief from steel and aluminum tariffs while boosting sales of Canadian energy to the US, potentially through a revitalized Keystone XL pipeline.

          Source: Bloomberg Europe

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
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          Strong price pressure on gold, silver amid extreme volatility

          Adam

          Commodity

          Gold and silver prices are sharply lower in early U.S. trading Tuesday. Better risk appetite in the general marketplace early this week is bearish for the safe-haven metals. The U.S. stock indexes have rallied back close to their recent record highs. December gold was last down $90.00 at $4,269.10. December silver prices were down $2.234 at $49.16.
          Would-be bargain hunters were featured in gold and silver Monday as they stepped in to buy last Friday’s big price dips. Gold futures notched a record high of $4,398.00 an ounce Monday. However, daily price volatility in gold and silver futures markets has turned extreme. This is not bullish and suggests, at most, a climaxing phase of the major bull market runs. And, at least, it suggests an unknown time period of choppy, highly volatile trading that could drive away both speculative bulls and bears in the gold and silver futures markets, for fear of getting whipsawed. Commodity market traders are keeping a closer eye on the gold and silver markets this week. Their extreme price volatility could spill over into some higher price volatility in other futures markets.
          Global stock markets were mixed overnight. U.S. stock indexes are pointed to mixed openings when the New York day session begins.
          U.S., Australia team up on rare earths to compete against China. President Trump on Monday signed a landmark pact with visiting Australian Prime Minister Anthony Albanese to boost U.S. access to rare earth minerals and other critical minerals in an effort to counter China’s tight grip on the supply chains of key metals. The two governments will jointly invest in a swath of mines and processing projects in Australia to boost production of commodities used in advanced technologies from electric vehicles to semiconductors and fighter planes. Australia has an $8.5 billion “pipeline that we have ready to go,” Albanese said at a meeting between the two leaders at the White House and as reported by Bloomberg. “In about a year from now, we’ll have so much critical mineral and rare earths that you won’t know what to do with them,” Trump said. The U.S. has been locked in a rare-earths competition with China since Beijing fought back against Trump’s trade offensive earlier this year, imposing export curbs on the materials. It has since expanded those restrictions.
          Shipping backing up in China; commodity supply chain disruptions possible. Waiting times for commodity vessels stacking up off China’s ports increased to the longest this year, as the geopolitical sparring between Beijing and Washington disrupts global trade, reported Bloomberg today. It took an average of 2.66 days for a vessel to get into a berth after arrival in the week to Oct. 19, according to Bloomberg calculations based on data from ship-tracking platform Kpler. That’s an increase of 17% week-on-week and the longest period this year, the calculations show. “China is the world’s largest commodity importer, and vessel snarls — if prolonged — could ripple through the global supply chain, affecting liquid cargoes such as crude, as well as bulks like iron ore. Beijing and Washington have sparred over shipping, with China introducing a hefty extra fee on vessels known to have American links, following a similar U.S. move,” said Bloomberg.
          Nymex crude oil futures traded firmer overnight, around $58.00 a barrel, after dropping to a 5.5-month low Monday as traders weighed signs of a swelling surplus ahead of trade talks between the U.S. and China. The amount of crude on tankers at sea has risen to a record high as producers keep adding barrels, according to data from Vortexa and reported by Bloomberg. The International Energy Agency is projecting a record crude oil surplus next year as the OPEC-plus alliance and producers from outside of the group ramp up output. “We’ve got supply growth running three times faster than demand growth,” Bob McNally, founder and president of Rapidan Energy Group, said in an interview on Bloomberg Television. “Near-term we have a glut.” Down-trending crude oil prices are a bearish outside-market element for the ag futures markets, as crude is considered the leader of the raw commodity sector.
          The other key outside market today see the U.S. dollar index firmer. The yield on the benchmark 10-year U.S. Treasury note is presently 3.98%.
          Strong price pressure on gold, silver amid extreme volatility_1
          Technically, December gold futures bulls still have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at the contract/record high of $4,398.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $4,000.00. First resistance is seen at $4,300.00 and then at $4,350.00. First support is seen at the overnight low of $4,257.70 and then at this week’s low of $4,229.70. Wyckoff's Market Rating: 7.0.
          Strong price pressure on gold, silver amid extreme volatility_2
          The silver bulls have the overall near-term technical advantage. However, a bearish “key reversal” down occurred Friday, which is one chart clue that a market top is in place. Silver bulls' next upside price objective is closing prices above solid technical resistance at the contract/record high of $53.765. The next downside price objective for the bears is closing prices below solid support at $46.70. First resistance is seen at $50.00 and then at $51.00. Next support is seen at the overnight low of $48.10 and then at $47.50. Wyckoff's Market Rating: 7.0.

          Source: kitco

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
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          Cultivating A Digitally Agile Generation

          Samantha Luan

          Economic

          Stocks

          Forex

          As artificial intelligence (AI) becomes a fixture in education and work, nurturing digital agility will be essential for students to thrive in a constantly shifting technological world.“It’s not about learning how to use a computer or virtual reality sets, because we realised these are going to change all the time. The ability for students to accept and be comfortable with the digital space, that, we feel, is very important to what we as educators need to cultivate,” said BK Gan, president and chief executive officer of Taylor’s Schools.The fundamental idea is to blend academic achievements through the development of digital agile capabilities by giving students an appropriate environment to challenge their minds and prevent cognitive outsourcing. Cognitive outsourcing is the action of handing over information collection and processing to others, and in this case, devices.

          “It is critical that our kids in the classrooms do not outsource their thinking because the technology is now available for them to do that. We want to make sure that they are able to use it as a tool for entrepreneurial reasons.“Do you remember your house phone number? If you don’t, that’s cognitive outsourcing of your memory. Let’s say you want to drive somewhere. If you’ve been there before, do you remember the roads? People will most likely use Google Maps. Everything has been outsourced nowadays,” said Gan.To get students on track, computer science classes are made compulsory in the curriculum until Year 9, and students are tasked with coding on an application called Swift. Each child that graduates will carry the knowledge and ability to properly code an app.

          James Abela, director of digital learning and entrepreneurship at Garden International School (GIS), shared that the AI chatbot on the GIS webpage was developed by students themselves. GIS is a subsidiary of the Taylor’s Education Group (TEG).These classes are also injected into the syllabus starting from kindergarten years, where educators will start from teaching children about computational thinking through hands-on activities involving small robots. This helps students develop problem solving abilities, but rather than calling it a ‘subject’, it is masked as a play activity for younger kids.

          The essence of combining gamification of learning with technology and AI carries onto the primary and secondary school years, as well for the students to become more involved and attentive in class.Abela himself has previously written a book on how gamification of learning was able to help students stay engaged with their education throughout the pandemic lockdown. With AI and technology, the concept becomes much easier to implement.“It starts with the kindergarten kids to build their foundation, so they can think in a very logical way and look at new things in the digital space without fear, because we know that things will move very fast in the digital age,” said Abela.

          “Learning through doing is so much more powerful than learning through a lecture, and that is why computing has become so powerful, because it is directly relevant and it encourages resilience.”He shares that the schools have spent at least a quarter of a million ringgit to invest in the proper technology to make the current curriculum a reality.One example of Taylor’s Schools initiatives is the 1:1 Apple programme, where the school’s partnership with the smartphone company provides students with an iPad as a technological tool for learning. The programme has been adopted since 2012 to reflect a student’s regular use of technology to cultivate skills in using technological tools efficiently and effectively.

          This also helps keep up to date when rolling out new software for students to be kept in the loop of current technological developments.Taylor’s is cognisant of their students’ privacy, using Gemini as their chosen AI tool due to their agreement with Google to not use personal data in their AI training.

          AI in the classroom

          Educators can also be empowered by the usage of AI and technology by creating a classroom environment that can be catered to each and every student to realise their full potential.This allows students to experiment with a variety of options to express themselves and unlock new pathways to discover the most optimal learning methods for each child. With new technologies being introduced to the classroom, this becomes increasingly easier to implement.“If we want to truly personalise lessons, we can fully differentiate the task. The students have a choice to do a video, a podcast, to write it, or in some cases, maybe an art piece. It’s still the same task in the end,” said Abela.

          “What matters is the quality of students’ thinking. The devices enable them to express themselves and give them options to learn in many different ways.”Additionally, using AI and tech in the classroom allows for teachers to be more in tune with the learning progress of the students. Abela shared how students who struggle with certain classes can privately receive support through their devices and software. This is also important as it reduces the embarrassment from peers from being singled out.The examination procedure, however, does not allow the use of AI to ensure that students do not exploit the technology by bypassing the critical thinking process, and must instead rely on their own cultivated knowledge to pass their tests.

          This is part of Taylor’s Schools’ responsibility to cultivate an ethical usage of AI and foster a sense of responsibility when using their digital skills.Abela shares an example where some of their students have made an exercising game, or “exergame”, where the gamification for fitness was applied as a responsible use of technology to make people healthier.“We don’t want to be simply teaching prompt engineering, because AI is already getting better at understanding people. What we need to do is look at the sources underneath,” he says.“You need to have curated content so that the students actually know what good, quality, trusted knowledge is. [Some people don’t use] AI because they know it can’t be trusted in terms of content, so in their younger years, we need to teach the children what is data and trusted sources.”

          Taylor’s School continues to be cautious of the excessive use of AI by implementing a traffic light system in regards to students’ usage of AI in their learning. A green signifies that using AI will have no effect on their education, a yellow indicates that the use of AI may harm the learning progress, and red would mean that the use of AI will result in stunted learning.Educators also receive training for half a day every with levels of training to familiarise themselves and keep up with the evolving landscape of technology, be it anything from basics to to subject specifics. This is conducted throughout Taylor’s Schools with an estimated 1,500 garden teachers being trained across its operating regions.

          Source: Theedgemarkets

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          Oil News: Crude Oil Prices Climb as Analysts Downplay Severity of OPEC Supply Glut

          Adam

          Commodity

          Crude Oil Prices Firm as Oversupply Fears Ease, But Technical Pressure Remains

          Oil News: Crude Oil Prices Climb as Analysts Downplay Severity of OPEC Supply Glut_1Daily Light Crude Oil Futures

          Light crude oil futures are trading slightly higher on Tuesday, consolidating within a narrow $1.50 range for a third consecutive session.
          After finding support at $55.96 on Monday—just above a key long-term level at $55.27—prices have rebounded to $57.67. Despite this modest recovery, upside momentum remains limited, capped by significant technical resistance at the 50-day and 200-day moving averages.
          At 12:46 GMT, Light Crude Oil Futures are trading $57.61, up $0.59 or +1.03%.

          Oil Market Rebounds After Recent Lows

          Oil prices are stabilizing following a steep decline on Monday, when they hit their lowest levels since early May. Traders reacted to concerns over a potential supply glut and deteriorating demand outlook due to the ongoing U.S.-China trade dispute. However, Tuesday’s recovery reflects easing fears of near-term oversupply and a growing sentiment that recent selloffs may have been overdone.
          The market had priced in the impact of OPEC+ supply additions and slowing global demand. Yet, signs are emerging that fundamentals may not deteriorate as sharply as previously feared.
          Both West Texas Intermediate (WTI) and Brent crude have moved into contango—a market structure where near-term prices are lower than longer-dated contracts—often seen as a signal of weakening demand and ample supply. Still, analysts caution that the contango is not yet severe enough to suggest a major imbalance.

          Analysts Question Severity of Supply Glut

          Despite the contango structure, several analysts argue the current fundamentals do not support panic selling. Ole Hansen of Saxo Bank noted that market behavior doesn’t yet reflect conditions that would drive significant inventory builds.
          UBS’s Giovanni Staunovo echoed this, saying the futures curve has not steepened into a “super contango,” which would signal a far more serious surplus as projected by the International Energy Agency.
          These observations suggest that the oil market may be factoring in a less severe oversupply situation, potentially driven by stable demand trends and limited stock builds, rather than a broad-based glut.

          U.S. Inventory Data in Focus

          Traders are also closely watching U.S. inventory levels for confirmation. Preliminary estimates from a Reuters poll indicate that crude stocks likely rose last week, while gasoline and distillate inventories fell.
          Official data from the American Petroleum Institute (API) and the U.S. Energy Information Administration (EIA) will provide clearer direction later in the week. Previous reports showed larger-than-expected crude builds but deeper product draws, offering mixed signals on underlying demand strength.

          Short-Term Oil Prices Forecast: Bearish Bias with Limited Upside

          Despite today’s modest rebound, the broader tone remains bearish as long as prices stay below key technical resistance levels. Continued downward pressure from the 50-day and 200-day moving averages, combined with a persistent contango structure, points to weak near-term sentiment.
          While some short-covering may lift prices toward the $59.21 retracement level, traders remain cautious, with upside capped unless fundamental or technical catalysts shift meaningfully.

          Source: fxempire

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          NASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Continue to Look Bullish in Quiet Premarket Session

          Adam

          Stocks

          NASDAQ 100 Technical Analysis

          The Nasdaq 100 is pretty quiet in pre-market trading on Tuesday as we’re just hanging around all-time highs. We are slightly negative, but when I say it slightly, I mean just that, barely negative. All things being equal, I think a short-term pullbacks could end up being the order of the day for the NASDAQ 100, but I wouldn’t read much into it. I don’t think anything’s changing here. This is a market that’s been bullish for quite some time. And now that it closed above the 25,000 level again, it might attract a little bit more confidence in the upside. Either way, even if we pull back, I’m looking to buy the dip.

          Dow Jones 30 Technical Analysis

          The Dow Jones 30 is again just a few basis points negative in pre-market trading, basically just hanging out at the all-time highs. This tells me that the market is more likely than not to continue to be bullish, and I do think you have a situation where traders will offer short-term pullbacks in order to start buying as their plan, with the 50-day EMA underneath near the 45,750 level offering a short-term floor. Either way, this is the same situation. I just don’t have any interest in shorting this market. I do think that when it falls, it is more likely than not to offer buying opportunities.

          S&P 500 Technical Analysis

          The S&P 500 remains fairly quiet in the early hours on Tuesday, as it hovers around the 6,800 level. An area that I think a lot of people will be looking for a potential breakout. I do expect 6,800 to be a bit of a short-term problem. So, with that being said, if we can break above there, then I think that shows that more FOMO and momentum come back into the fray.
          We still haven’t broken above the top of that wipeout candlestick from Friday, the 10th of October, but once we do, that wipes out the last vestiges of that little bit of panic after Trump threatened China with more tariffs. I think it’s really only a matter of time. And in fact, I wouldn’t be surprised at all to see it happen during the session. If we do pull back again, I think that offers a buying opportunity.

          Source: fxempire

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Precious Metals Pummeled

          Damon

          Commodity

          Precious metals have been clubbed like a bay seal this morning with Gold down 4%...

          Silver is doing even worse, down almost7%...

          A little context is useful...

          Meanwhile, we note that silver's dramatic underperformance came at critical support levels against gold (at the 80x ratio that has been significant for years)...

          Additionally, relative to crypto, gold had got back to a key resistance level (that acted as serious support for the BTC/Gold ratio twice before - the election and liberation day)...

          On the 'bright' side, this decline has dragged gold and silver back from perilously overbought levels...

          UBS traders say that the next level to watch is the Oct. 15 low at 4165, before 4095/4100 which held on dips on Oct. 14; then it is the 4060 level which briefly capped the advance on Oct. 8/9.

          Source: Zero Hedge

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          Why Turkey Is No Longer The “Lesser Evil”

          Samantha Luan

          Forex

          Political

          Economic

          It is no longer clear that Turkey provides a counterweight to Iran in the Middle East. Ankara has ambitions of its own.

          Under the guise of leading a moderate Sunni axis and assisting the West against Iran’s radical Shia bloc, President Recep Tayyip Erdoğan’s Turkey is advancing a far more ambitious vision: the restoration of Turkey’s regional hegemony.Ankara’s economic and diplomatic ties with the West, including its NATO membership, are tactical tools to attain regional hegemony rather than genuine commitments to shared interests with the United States. Turkey’s ultimate objective is to reclaim the influence once enjoyed by the Ottoman Empire, which ruled vast swaths of Asia, Europe, and Africa for over six centuries. It follows that these ambitions threaten US, Western, and Israeli interests alike.

          The New Islamist Axis

          The close relationship between Turkey and Syria’s new president, Ahmed al-Shara, signals a dangerous realignment. Despite Western hopes that the collapse of the Iran-led axis in Syria would stabilize the region, the “Erdoğan-Shara axis” risks replacing one radical bloc with another.

          Analysts such as Dr. Hay Eytan Cohen Yanarocak warn that Turkey is now the de facto powerbroker in Syria, directing events via its proxies. Turkish-led “joint operations commands” now reportedly coordinate activity across Syria, Jordan, Iraq, and Lebanon. While this may weaken Iran’s footprint, it empowers Ankara’s Islamist ambitions rather than promoting peacebuilding in Syria.Israel and Syria are now publicly admitting to pushing forward a peace agreement under the auspices of the United States. Yet given Erdoğan’s strong influence in Syria, these ambitions may face hardships—or worse, come to fruition under an innocent guise that would later entail heavy costs.

          NATO’s “Double Agent”

          Even as Turkey seeks to curb Iranian and Russian influence, its hardly an ally for either Israel or the West. At an Organization of Islamic Cooperation (OIC) summit in June, Erdoğan openly backed Iran, a country recognized by the US as a State Sponsor of Terrorism, declaring, “We are optimistic that victory will be Iran’s,” while accusing Israel of igniting the region. His statements reveal both solidarity with sanctioned adversaries and claims to regional leadership over the Islamic world.

          Meanwhile, Erdoğan continues to whitewash Hamas, recently describing it as a “resistance movement,” not a terrorist group, in an interview with Fox News. The Turkish president significantly escalated his rhetoric since the beginning of the Gaza war, accusing Israeli prime minister Benjamin Netanyahu of committing “genocide” in Gaza, “no less than what Hitler did.” He proudly leads massive rallies around the country, even going as far as threatening to “invade” Israel last year, “just as we entered Karabakh, just as we entered Libya.”

          Indeed, Turkey has been hosting and harboring Hamas leaders on its soil for years, providing them with financial networks in defiance of US sanctions. Turkey’s ties with Hamas are longstanding and deep—politically, financially, and operationally. Hamas has established real estate companies, investment funds, and sham NGOs in Turkey, an enterprise whose scale has turned Turkey into a major Hamas financial hub, overseeing assets worth more than half a billion dollars.Hamas operatives have also received training in Turkey, returning with funds and directives to escalate attacks against Israel. Inter alia, this was proven in documents seized by the IDF in the Gaza Strip, exposing Hamas’ “Shadow Unit”—an undercover squad that left Gaza to Iran via Turkey for guidance and sponsorship in 2019. Ankara justifies its support through euphemisms that attempt to distinguish Hamas as a political, rather than a terrorist entity.

          No Longer the Lesser Evil

          Meanwhile, Ankara has been building the largest military around the Mediterranean, expanding defense exports to $7.1 billion in 2024, and gaining combat experience in Syria, Libya, and the Caucasus. Though lacking stealth aircraft and a long-range ballistic missile arsenal, Turkey seeks to fill these gaps through US arms purchases.

          Erdoğan’s threats go beyond Israel. In 2022, he threatened to launch ballistic missiles at Greece. Turkey still illegally occupies Northern Cyprus, a move firmly condemned by the European Union, of which Cyprus is part. During a July 2024 visit to the territory, Erdoğan declared his intention to establish a military base there.

          The West’s hope that Turkey will counterbalance Iran’s Shia axis misreads Ankara’s intentions. As recent Iran-Turkey defense dialogues demonstrate, the two share growing military and intelligence cooperation despite sectarian differences. In 2025, Tehran’s defense minister hailed Turkey as a partner in facing “the challenges before the Islamic world.”Finally, Turkey’s nuclear ambitions should keep the West alert. Though Turkey lacks an independent nuclear arsenal, it hosts 50 US-controlled warheads and is now signaling a civilian nuclear drive that could evolve militarily. In September 2025, Ankara announced plans for domestic reactor development and nationwide bunker construction, including nuclear shelters.

          Systemic Islamization

          Under Erdoğan, Turkish society has undergone systematic Islamization, a reverse of Atatürk’s secular legacy. The government cultivates a conservative Sunni extremist ideology, mirroring Iran’s revolutionary model.

          Turkey courts Western engagement through trade, defense procurement, joint military exercises with the United States, and a rhetoric of partnership—as illustrated in Erdoğan’s latest visit to Washington to meet President Trump. Yet this dual-track strategy—appearing as a NATO ally while empowering jihadist actors—mirrors Iran’s former guise as a stabilizer against ISIS.Turkey’s assertive foreign policy, Islamist orientation, and cooperation with US-designated terror groups have increasingly rendered it an unreliable ally and emerging revisionist power. Its neo-Ottoman aspirations pose a strategic challenge that Washington, NATO, and Jerusalem can no longer afford to ignore.

          It is now unavoidable to ramp up demands on Erdoğan before any further strengthening of the Turkish-Western alliance—if not reevaluate Turkey’s role in the West’s security architecture altogether. The West currently underestimates Turkey’s ambitions, focuses on short-sighted moves while ignoring its destabilizing and aggressive military moves and ties with radical terrorist groups.The logic of “the lesser evil”—choosing Turkey over Iran—has run its course. It is of the essence to shift from accommodation to vigilance with Turkey, scrutinizing its role in keeping regional stability and participation in the global security burden sharing, and its status as a legitimate Western partner. Until it changes its course, Ankara has now established itself as a strategic competitor, rather than a partner, to the US international security interests.

          Source: The National Interest

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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