Geopolitical Tensions Escalate, Crypto Exchange Files for IPO, Dollar Strengthens

Ansar Allah (Houthis), the Yemeni military movement, announced a significant military operation targeting Lod Airport, also known as Ben Gurion Airport, in occupied Jaffa with a hypersonic ballistic missile. The group's military spokesperson, Brigadier General Yahya Saree, claimed the operation achieved its objective, causing air raid sirens to sound in over 300 towns and cities, sending millions to shelters, and halting airport operations for approximately an hour. This action was stated to be in support of the Palestinian people and a rejection of the "genocide" in Gaza, with Ansar Allah affirming that their operations will continue until the aggression on Gaza ceases and the blockade is lifted. While Ansar Allah claimed the missile successfully hit its target and interception systems failed, the Israeli military has previously stated it intercepted missiles launched from Yemen.

In the financial markets, Bullish, a cryptocurrency exchange provider, has confidentially filed paperwork for a US Initial Public Offering (IPO) with the Securities and Exchange Commission (SEC). This marks Bullish's second attempt to go public, following a failed SPAC merger in 2021. The move comes amid a resurgence in the crypto market, with Bitcoin prices surpassing $100,000 and other crypto firms, such as Circle Internet (CRCL), experiencing successful public debuts. The IPO effort is led by Jefferies as the lead underwriter and is seen as capitalizing on renewed investor appetite for digital assets, partly influenced by policy signals from the Trump administration.

The US Dollar (USD) has extended its gains for a second consecutive week, with the dollar index holding steady at 98.456 and on track for a 0.64% weekly advance, building on the previous week's 0.91% rally. This strengthening is largely attributed to a series of robust U.S. economic indicators. Recent data showed that retail sales rebounded more than expected in June, and weekly initial jobless claims unexpectedly fell to a three-month low. These positive economic signals suggest that the Federal Reserve may have more room to delay further interest rate cuts, with traders now pricing in approximately 45 basis points of cuts for the remainder of the year, a reduction from earlier expectations.