Trump coin can be expected to rise to the next resistance level 3.2900 – the breakout of which can lead to the next resistance level 3.5000.

• Trump reversed from the strong support level 2.7330
• Likely to rise to resistance level 3.2900

Trump coin recently reversed up from the support zone between the strong support level 2.7330 (which stopped previous wave (B) at the start of March as can be seen from the daily Trump coinchart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous minor correction 2 – which belongs to the medium-term impulse wave (C) – which started from the same support level at the start of  March.

Given the strength of the aforementioned support level 2.7330, oversold daily Stochastic, the bullish divergence on the daily Stochastic and the bullish sentiment seen across the cryptocurrency markets, Trump coin can be expected to rise to the next resistance level 3.2900 – the breakout of which can lead to the next resistance level 3.5000.

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

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Geopolitical tension and energy volatility drive market uncertainty, as central banks balance inflation risks against fragile growth and diplomatic hopes.

The High-Stakes Balancing Act: Diplomacy and the Dollar

The global financial landscape is currently caught in a tug-of-war between high-stakes diplomacy and the cold realities of geopolitical tension. While optimistic signals from Washington and the United Nations suggest a potential peace deal between the U.S. and Iran could be on the horizon, the market remains on edge. The specter of military reinforcements and the continued blockade of the Strait of Hormuz serve as a stark reminder that stability is far from guaranteed. For currency traders, this uncertainty has transformed the U.S. Dollar into a primary barometer of fear; any flicker of escalation reinforces the Greenback’s safe-haven status, while signs of a “diplomatic off-ramp” fuel the risk-on rallies that recently pushed the Euro to six-week highs.

Energy Volatility: The Shadow Over Central Bank Policy

Crude oil has emerged as the invisible hand guiding interest rate expectations, creating a “cloud” over the path of major central banks. The direct correlation between energy prices and monetary policy is now undeniable, with analysts estimating that every ten-dollar jump in oil prices adds roughly 25 basis points to market-implied rate hike projections. This surge is breathing life into the threat of stagflation—a toxic cocktail of slowing growth and stubborn, supply-driven inflation. For the ECB and the Bank of England, this creates a policy trap: the need to combat energy-driven price spikes suggests a hawkish stance, yet the underlying fragility of the European and UK economies makes aggressive tightening increasingly risky.

Policy Divergence and the Data-Dependent Consolidation

As the initial fervor of the spring risk rally fades, the market is entering a period of sober consolidation defined by diverging central bank narratives. In the United States, softer-than-expected PPI data has provided the Federal Reserve with a convenient window to remain “on hold,” tempering the immediate need for further tightening and capping the Dollar’s recovery. Conversely, the Euro’s momentum has stalled below the 1.1800 handle as investors realize that the ECB may be forced to pivot away from its hawkish rhetoric to protect domestic growth. This shift highlights a market no longer trading on momentum alone, but rather on a granular, data-dependent evaluation of which central bank will be the first to blink in the face of a slowing global economy.

Top upcoming economic events:

Wednesday, April 15

04/15/2026 — BoE’s Governor Bailey Speech (GBP) As the head of the Bank of England, Governor Bailey’s remarks are scrutinized for hints regarding interest rate shifts. Given current concerns over UK growth and inflation linked to energy prices, any hawkish or dovish lean in his tone can cause significant volatility for the Pound Sterling.

04/15/2026 — RBNZ’s Breman Speech (NZD) High-impact communications from the Reserve Bank of New Zealand often signal changes in the local monetary landscape. Investors look for guidance on how the RBNZ plans to manage the New Zealand Dollar amidst fluctuating global risk sentiment and commodity price swings.

04/15/2026 — ECB’s President Lagarde Speech (EUR) President Christine Lagarde’s speeches are pivotal for the Euro. With markets currently debating whether the ECB will hike rates in June, her commentary on “data dependency” and the impact of volatile oil prices on the Eurozone’s recovery is a top priority for traders.

Thursday, April 16

04/16/2026 — Unemployment Rate s.a. (AUD) The Australian labor market remains a key pillar for the RBA’s policy decisions. A lower-than-expected unemployment rate usually strengthens the Australian Dollar, as it suggests economic resilience and potentially higher domestic inflation.

04/16/2026 — Gross Domestic Product YoY (CNY) As a major engine of global growth, China’s GDP data has a massive ripple effect. A strong reading typically boosts “risk-on” currencies like the AUD and NZD, while a slowdown can trigger global recession fears and support safe havens like the USD.

04/16/2026 — Retail Sales YoY (CNY) This event measures the strength of Chinese consumer spending. It is a vital indicator of whether China’s domestic economy is successfully transitioning and recovering, providing essential context for global trade dynamics and commodity demand.

04/16/2026 — Core Harmonized Index of Consumer Prices YoY (EUR) This is the preferred inflation gauge for the ECB. It excludes volatile items like food and energy, offering a “cleaner” look at underlying price pressures in the Eurozone. A high reading would increase the pressure on the ECB to maintain a hawkish stance despite growth risks.

04/16/2026 — Initial Jobless Claims (USD) This weekly indicator provides the most current snapshot of the U.S. labor market’s health. In the context of the Fed’s “higher for longer” debate, any significant spike in claims could lead to a quick sell-off in the Dollar as traders price in an earlier pivot to rate cuts.

Friday, April 17

04/17/2026 — IMF Meeting (USD) The International Monetary Fund meetings involve high-level discussions between global finance ministers and central bankers. Statements regarding global growth forecasts (currently under pressure from energy shocks) and systemic financial risks can shift long-term market trends.

04/17/2026 — BoE’s Breeden Speech (GBP) Closing out the week, Sarah Breeden’s insights provide further clarity on the Bank of England’s internal consensus. Following earlier data releases in the week, her perspective on the UK’s economic prospects and the potential for stagflation will be key for the Pound’s weekly close. 

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

The post Diplomatic “Off-Ramp” Hopes and Soft PPI Data… appeared first on Seaside Success Stories.

The S&P 500 is once again within striking distance of its all-time high. And this despite the fact that the Iran conflict remains unresolved, that oil prices continue to fuel inflation, and that hopes for lower interest rates have thus evaporated rather abruptly. One is quite justified in asking how this actually fits together.

Putting emotions and logic aside, our indicators remain bullish, even though the US indices have already gained around 10% since the low at the end of March. After such a sharp rally, consolidations are of course possible at any time. Yet investors are currently accumulating US stocks with a determination rarely seen before. The «Smart Investors Action», which measures the largely hidden transactions of major investors behind the scenes, makes exactly this visible: The light blue area lies deep in the positive zone.

With these massive gains, sentiment on Wall Street is also brightening again. But market sentiment has only just returned to the optimistic zone—and experience shows that this is precisely where the biggest gains often occur.

As already highlighted in the last two issues of Pretiorates’ Thoughts, stocks from cyclical, economically sensitive sectors continue to be favored. Investors are behaving as if the U.S. economy were on the verge of a new upswing…

In contrast, defensive stocks—that is, those stocks investors turn to during economically challenging periods—have served their purpose for now. One example is companies in the utilities sector, which can demonstrate relatively stable business performance even during downturns. In any case, the ratio between the S&P 500 and the utilities sector signals that Wall Street is likely anticipating further price increases.

Another intriguing indicator is the «Happy Friday Indicator», a somewhat unorthodox but by no means unappealing tool: If investors head into Friday evening in good spirits after a successful week, their risk appetite usually increases in the following week. If this happens too often, investors become careless, which is why the indicator functions almost perfectly as a counter-indicator. Recently, however, nervousness before and during the weekend has generally been high for well-known reasons. This extreme risk-off sentiment caused the indicator to drop to its lowest level in recent years—and that is precisely why several buy signals are now flashing…

We also mentioned in the last two issues that we are focusing on the AI and Quantum sectors in this new Wall Street upswing. A great deal is currently happening in the field of quantum computing, even though Wall Street has so far reacted rather cautiously. Nvidia has just launched the first chip for quantum computers. Google, for its part, recently announced that «Q-Day» is expected as early as 2029. This term refers to the hypothetical point in time when quantum computers will be commercially available or powerful enough to break today’s standard cryptographic encryption methods such as RSA or ECC. Just imagine what AI might be capable of when combined with the computing power of such quantum computers…

Even though we’re supposedly only three years away from it, investors are currently focusing primarily on AI stocks, which have already reached a new all-time high. Our AI index has already hit a new all-time high. But here, too, the «after-hours action» has only just returned to positive territory. This suggests that this rally should continue for much longer…

Many investors have also been following the debacle of software stocks since the start of the year. At first glance, these stocks now appear very cheap and could certainly tempt one to buy. We are nevertheless staying away from them. If AI is currently good for anything truly productive, it is for writing or programming software code. The problem for software companies is not even primarily that they themselves could be replaced by AI—which we do not really expect. But AI is likely to replace a great many software users, which is why software companies will probably sell significantly fewer licenses in the future…

Artificial intelligence will massively change our lives in the coming years. All the more so when it is combined with the computing power of quantum computers. Accordingly, the relevant tech stocks are likely to continue driving Wall Street higher in the medium and long term.

Is there another reason why the U.S. economy might be on the verge of a boom—at least according to the indicators mentioned at the beginning? We find one theory that has been brought to our attention more frequently lately fascinating, not yet truly credible, but certainly alarming: Following the peace negotiations, US President Trump suddenly seized control of the Strait of Hormuz—and blocked it. The longer this situation persists, the greater the problem becomes, especially for Asian countries, as their oil reserves run low. Depending on the country, this could happen between now and mid-June.

For China, this would mean that after Venezuela, Iran might also fall out as an energy supplier. The number of global oil exporters is limited — partly due to a lack of pipelines and inadequate infrastructure. Theoretically, it would thus be conceivable that the U.S. could rise to become a global energy powerhouse and China could suddenly become a buyer of U.S. energy. That would shift the geopolitical balance of power once again. And with them, the US petrodollar could suddenly experience a sort of rebirth. At the moment, however, this theory is still pure speculation. Yet US President Trump has just announced that an above-average number of empty tankers are already on their way to the US. Keep an eye on this development!

The post Pretiorates’ Thoughts 127 – Climbing While the World Wobbles appeared first on Seaside Success Stories.

The main shift that will reshape financial markets for the foreseeable future is the conflict between the US and Iran. This turned out to be not a short-term military event as the US is moving troops for a ground operation. It’s hard to estimate the effects for all instruments, but prices of crude oil futures have held above $100, and that boosts inflation expectations around the world.

The immediate reaction by bond markets to this escalation was the growth of US 30-year Treasury yields and the “flight to safety” regime across all markets. According to CME FedWatch, rates in the US are expected to stay unchanged until the end of the year.

The full impact of the closure of the Strait of Hormuz on global trade is yet to be determined, but the risks of cascade effects in different markets are increasing.

Macroeconomic indicators

Have we seen any tectonic shifts in terms of macroeconomic indicators in Q1 2026? We can construct the picture out of three major benchmarks – the NFP indicator (payroll employment), CPI (consumer inflation) and manufacturing PMI (from the Institute of Supply Management).

Payroll employment has shown some slowdown in February, which might not be necessarily a sign of economic slowdown yet, as recessional signals need more time to develop, i.e. two or three consecutive quarters. For now, it might be perceived as seasonal volatility.

The US PMI indicator showed good momentum in January and February, fueled by fiscal stimulus in the US and accompanied by a rally for industrial stocks. Generally, the PMI indicator above 50 displays a robust state of the economy and, in normal conditions, correlates with positive performance for the S&P 500.

Nowadays, given extreme fear in markets, the divergence between indices and PMI might hold for an extended period.

Bitcoin

Current conditions

Bitcoin is no longer trending clearly in either direction but a phase of consolidation following a failed attempt to push higher. Price action reflects this shift clearly, as Bitcoin rallied toward $76,000 before experiencing a two-leg correction down to $67,000, eventually stabilising around $70,000, which in itself signals a loss of momentum and a move toward a more balanced, rangebound structure.

Underlying indicators across spot, derivatives, and on-chain activity suggest that both demand and supply are adjusting, with neither side currently strong enough to dominate, resulting in a market defined by caution, reduced participation, and early signs of stabilisation rather than expansion.

Demand

Demand has softened materially, particularly within spot markets, where declining volume and a sharp drop in ETF inflows indicate that the strong buying pressure seen previously has faded significantly. ETFs’ net inflows collapsed from over $790 million to just $150 million within a week, while trading activity also declined, reflecting a clear pullback in institutional engagement and a broader cooling in participation.

Spot demand is the backbone of sustainable movements. Without it, any upward movement becomes increasingly dependent on thinner liquidity and short-term positioning rather than genuine accumulation. The current environment therefore reflects a market where buyers are still present, but less aggressive and more selective in deploying capital.

Derivative activity reflecting defensive positioning

In derivative markets, the picture reinforces this cautious tone, as open interest has edged slightly lower, while cumulative volume delta (CVD) has flipped negative across both spot and perpetual futures, signalling a shift to sell-side aggression.

Although funding rates have moved back into positive, indicating a modest rebuilding of long exposure, this shift is not strong enough to signal conviction but suggests that traders are cautiously re-entering positions without committing aggressively. This combination of reduced leverage, defensive positioning, and mixed sentiment creates an environment where movements are more likely to be reactive and unstable.

Options market signalling cautious sentiment

The options market further confirms the lack of confidence, as volatility remains subdued and open interest is largely unchanged, pointing to stable but unenthusiastic participation. The increase in delta skew indicates a growing demand for downside protection, meaning that even as panic has not escalated, traders are actively hedging against potential declines.

This behaviour reflects a market that is not fearful, but clearly not confident either, where participants are willing to stay engaged but are simultaneously protecting themselves against downside risk.

On-chain demand remains subdued

On-chain activity adds another layer, showing weak network participation, declining volume, and generally low throughput, all of which point to a lack of strong organic demand. While active addresses have increased slightly, overall activity remains below normal, reinforcing the idea that the market is operating with limited engagement from both retail and institutions.

Taken together, these signals confirm that demand is not absent, but it is clearly insufficient to drive a sustained trend, leaving the market vulnerable to short-term fluctuations rather than long-term directional moves.

Supply

There are increasing signs that sell pressure has started to re-emerge, particularly in the short term, as evidenced by the sharp reversal in CVD across both spot and derivative markets, which indicates that sellers have regained some control after a period of relative balance.

This shift does not yet represent aggressive distribution at scale, but it does signal that the market is no longer supported by dominant buy-side flows, which increases the likelihood of continued consolidation or further downside if demand does not improve.

Long-term holders anchoring market structure

Despite short-term selling pressure, the broader supply structure remains relatively stable, as long-term holders continue to dominate the market, while the share of short-term and highly reactive capital remains subdued. The slight decline in the short-term holder to long-term holder supply ratio, combined with low levels of “hot capital,” suggests that the market is still largely controlled by more patient investors rather than speculative participants.

This dynamic provides a degree of underlying support, as long-term holders are typically less sensitive to short-term movements and less likely to sell aggressively during periods of volatility.

Sentiment remaining in fear

Sentiment from the Fear and Greed Index was mostly unchanged in the first quarter of 2026, with fear dominating overall. This sentiment is clearly shown on the daily chart of Bitcoin, where the price has remained rather muted, trading in a sideways channel for the past couple of months. The anticipation of the Fed holding rates steady at its next meetings in the upcoming quarter remains, and this could be somewhat affecting sentiment for Bitcoin. According to CME FedWatch, the probabilities for the next meetings in April and June are to keep rates unchanged, with over 90% chance in both cases.

Technical view

The price of Bitcoin declined rather aggressively in mid January, losing around 24% in a single month before settling in a sideways range between $65,000 and $75,000 for the past two months. The stochastic oscillator signals oversold while the moving averages validate the overall downtrend. Bollinger Bands are contracted, showing that volatility is low. These point to a continuation of the current consolidation with no major hints of an uptrend going into the second quarter.

The opinions in this article are personal to the writers: they do not represent the opinions of Exness. This is not a recommendation to trade.

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European currencies continue to move higher, reaching previously targeted levels as demand for both the euro and sterling remains firm. The rally is unfolding amid evolving market expectations and persistent weakness in the US dollar. That said, as prices approach important resistance zones, traders are increasingly cautious, recognising the potential for momentum to ease and price action to stabilise.

Much of the support for the euro and pound stems from anticipation surrounding upcoming economic releases from the UK and the eurozone, which remain central to investor focus. Data on growth and business activity could reshape expectations for central bank policy and influence demand for both currencies. Meanwhile, attention is also firmly on forthcoming US figures, which may shift the current balance and alter expectations for the Federal Reserve’s next steps.

EUR/USD

EUR/USD is trading in the 1.1800–1.1830 area, maintaining bullish momentum after its recent breakout. From a technical perspective, further upside towards 1.1900–1.1940 is possible if 1.1800 continues to act as support. However, a pullback towards 1.1740–1.1760 remains a risk, particularly if eurozone data disappoints or US indicators come in stronger than expected.

Key events for EUR/USD:

• today at 13:45 (GMT+3): speech by Bundesbank representative Mauderer;
• today at 15:30 (GMT+3): Philadelphia Fed Manufacturing Index (US);
• today at 19:45 (GMT+3): speech by Bundesbank President Nagel.

GBP/USD

GBP/USD is following a similar trajectory, holding near recent highs within an ongoing uptrend. However, a “harami” pattern identified on the daily chart signals a potential pause in the rally. Confirmation of this pattern could trigger a decline towards 1.3480–1.3500. On the upside, a break above 1.3590 may open the way for gains towards 1.3670–1.3700.

Key events for GBP/USD:

• today at 09:00 (GMT+3): UK Gross Domestic Product (GDP);
• today at 10:55 (GMT+3): UK manufacturing output;
• today at 18:40 (GMT+3): speech by Bank of England Deputy Governor Woods.

Overall, European currencies remain in an advancing phase but are approaching levels that may challenge further upside. Upcoming economic data will be decisive: strong releases could extend the rally, while weaker figures may lead to consolidation or a corrective pullback.

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Jillian Segal was appointed to the role a year ago in response to a surge in reports of attacks against Jewish sites and property in Australia, following Israel’s invasion of Gaza, and was tasked with combating antisemitism in the country.

Standing alongside Prime Minister Anthony Albanese Thursday, Segal released a report nine months in the making proposing strong measures, including the university funding threats and the screening of visa applicants for extremist views.

“The plan is not about special treatment for one community; it is about restoring equal treatment,” Segal said. “It’s about ensuring that every Australian, regardless of their background or belief, can live, work, learn and prosper in this country.”

Like in the United States, Australian campuses were once the hub of pro-Palestinian protests led by students who pitched tents demanding action to stop Israel’s assault on Gaza.

The campus protests dwindled after restrictions were tightened and some protesters were threatened with expulsion, a move condemned by the activists as an infringement on free speech.

Segal’s report said antisemitism had become “ingrained and normalised” within academia and university courses, as well as on campuses, and recommended universities be made subject to annual report cards assessing their effectiveness in combating antisemitism.

Universities Australia chief executive Luke Sheehy said the organization had been working “constructively” with the special envoy and its members would “consider the recommendations.”

“Academic freedom and freedom of expression are core to the university mission, but they must be exercised with responsibility and never as a cover for hate or harassment,” he said in a statement.

Surge in antisemitism

Antisemitic attacks in Australia surged 300% in the year following Israel’s invasion of Gaza in October 2023.

In the past week alone, the door of a synagogue was set on fire in Melbourne, forcing 20 occupants to flee by a rear exit, as nearby protesters shouting “Death to the IDF” – using the initials of the Israeli military – stormed an Israeli-owned restaurant.

A man is facing arson charges over the synagogue attack, and three people were charged Tuesday with assault, affray, riotous behavior and criminal damage over the restaurant raid.

The Executive Council of Australian Jewry, which Segal once led and is the umbrella organization for hundreds of Jewish community groups, said the report’s release “could not be more timely given the recent appalling events in Melbourne.”

However, the Jewish Council of Australia, which opposes Israel’s war in Gaza, voiced concerns about Segal’s plan, saying it carried the overtones of US President Donald Trump’s attempts to use funding as a means of control over institutions.

In a statement, the council criticized the plan’s “emphasis on surveillance, censorship, and punitive control over the funding of cultural and educational institutions,” adding that they were “measures straight out of Trump’s authoritarian playbook.”

Max Kaiser, the group’s executive officer, said: “Any response that treats antisemitism as exceptional, while ignoring Islamophobia, anti-Palestinian racism, and other forms of hate, is doomed to fail.”

Education, immigration and the arts

The envoy’s 20-page plan includes sweeping recommendations covering schools, immigration, media, policing and public awareness campaigns.

Segal wants Holocaust and antisemitism education baked into the national curriculum “as a major case study of where unchecked antisemitism can lead,” according to the report.

Arts organizations could be subject to the same restrictions as universities, with threats to pull public funding if they’re found to have engaged in, or facilitated, antisemitism.

“While freedom of expression, particularly artistic expression, is vital to cultural richness and should be protected, funding provided by Australian taxpayers should not be used to promote division or spread false/ distorted narratives,” the report said.

Under the recommendations, tougher immigration screening would weed out people with antisemitic views, and the Migration Act would enable authorities to cancel visas for antisemitic conduct.

Media would be monitored to “encourage accurate, fair and responsible reporting” and to “avoid accepting false or distorted narratives,” the report added.

During Thursday’s press conference, Albanese pointed to an interview on the country’s national broadcaster with a protester, saying the interviewee tried to justify the Melbourne restaurant attack.

“There is no justification for that whatsoever,” he said. “The idea that somehow the cause of justice for Palestinians is advanced by behavior like that is not only delusional, it is destructive, and it is not consistent with how you are able to put forward your views respectfully in a democracy,” he said.

Asked if the country had become less tolerant of different views and had, perhaps, lost the ability to have a debate, Albanese pointed to social media.

“I think there is an impact of social media, where algorithms work to reinforce people’s views,” he said. “They reinforce views, and they push people towards extremes, whether it be extreme left, extreme right. Australians want a country that is in the center.”

His comments came as Grok, X’s AI chatbot, was called out for spreading antisemitic tropes that the company said it was “actively working to remove.”

Albanese said, regarding antisemitic views, “social media has a social responsibility, and they need to be held to account.”

Asked whether anti-Israel protests were fueling the antisemitic attacks, the prime minister said people should be able to express their views without resorting to hate.

“In Israel itself, as a democracy, there is protest against actions of the government, and in a democracy, you should be able to express your view here in Australia about events overseas,” he said. “Where the line has been crossed is in blaming and identifying people because they happen to be Jewish.”

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The Houthis claimed responsibility for the assault that maritime officials say killed four of the 25 people aboard the Eternity C before the rest abandoned the cargo ship. Eternity C went down Wednesday morning after attacks on two previous days, sources at security companies involved in a rescue operation said.

The six rescued seafarers spent more than 24 hours in the water, those firms said.

The United States Mission in Yemen accused the Houthis of kidnapping many surviving crew members from Eternity C and called for their immediate and unconditional safe release.

“The Yemeni Navy responded to rescue a number of the ship’s crew, provide them with medical care, and transport them to a safe location,” the group’s military spokesperson said in a televised address.

The Houthis released a video they said depicted their attack on Eternity C. It included sound of a Yemen naval forces’ call for the crew to evacuate for rescue and showed explosions on the ship before it sank. Reuters could not independently verify the audio or the location of the ship, which it verified was the Eternity C.

The Houthis also have claimed responsibility for a similar assault on Sunday targeting another ship, the Magic Seas. All crew from the Magic Seas were rescued before it sank.

The strikes on the two ships revive a campaign by the Iran-aligned fighters who had attacked more than 100 ships from November 2023 to December 2024 in what they said was solidarity with the Palestinians. In May, the U.S. announced a surprise deal with the Houthis where it agreed to stop a bombing campaign against them in return for an end to shipping attacks, though the Houthis said the deal did not include sparing Israel.

Leading shipping industry associations, including the International Chamber of Shipping and BIMCO, denounced the deadly operation and called for robust maritime security in the region via a joint statement on Wednesday.

“These vessels have been attacked with callous disregard for the lives of innocent civilian seafarers,” they said.

“This tragedy illuminates the need for nations to maintain robust support in protecting shipping and vital sea lanes.”

Rescue search

The Eternity C and the Magic Seas both flew Liberia flags and were operated by Greek firms. Some of the sister vessels in each of their wider fleets had made calls to Israeli ports in the past year, shipping data analysis showed.

“We will continue to search for the remaining crew until the last light,” said an official at Greece-based maritime risk management firm Diaplous.

The EU’s Aspides naval mission, which protects Red Sea shipping, confirmed in a statement that six people had been pulled from the sea.

The Red Sea, which passes Yemen’s coast, has long been a critical waterway for the world’s oil and commodities but traffic has dropped sharply since the Houthi attacks began.

The number of daily sailings through the narrow Bab al-Mandab strait, at the southern tip of the Red Sea and a gateway to the Gulf of Aden, numbered 30 vessels on July 8, from 34 ships on July 6 and 43 on July 1, according to data from maritime data group Lloyd’s List Intelligence.

Oil prices rose on Wednesday, maintaining their highest levels since June 23, also due to the recent attacks on ships in the Red Sea.

Multiple attacks

Eternity C was first attacked on Monday afternoon with sea drones and rocket-propelled grenades fired from speed boats by suspected Houthi militants, maritime security sources said. Lifeboats were destroyed during the raid. By Tuesday morning the vessel was adrift and listing.

Two security sources told Reuters that the vessel was hit again with sea drones on Tuesday, forcing the crew and armed guards to abandon it. The Houthis stayed with the vessel until the early hours of Wednesday, one of the sources said.

Skiffs were in the area as rescue efforts were underway.

The crew comprised 21 Filipinos and one Russian. Three armed guards were also on board, including one Greek and one Indian, who was one of those rescued.

The vessel’s operator, Cosmoship Management, has not responded to requests for confirmation of casualties or injuries. If confirmed, the four reported deaths would be the first fatalities from attacks on shipping in the Red Sea since June 2024.

Greece has been in talks with Saudi Arabia, a key player in the region, over the latest incident, according to sources.

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These were some of the striking scenes at a mass protest last week against gentrification and the rising cost of living in the Mexican capital city, which some have blamed on an influx of foreigners from the United States and Europe.

While the demonstration was largely peaceful and reflected growing anger about inequality in the Mexican capital, those who vandalized stores in the city’s wealthier neighborhoods and used anti-immigration language were criticized by Mexican President Claudia Sheinbaum as being xenophobic.

“No to discrimination, no to racism, no to classism, no to xenophobia, no to machismo, no to discrimination. All human beings, men and women, are equal, and we cannot treat anyone as less,” Sheinbaum said at a Monday press conference.

The US Department of Homeland Security, which has been carrying out an immigration crackdown in the US, reacted to Friday’s protests with an ironic post on X: “If you are in the United States illegally and wish to join the next protest in Mexico City, use the CBP Home app to facilitate your departure.”

The rallies in Mexico City mirror protests that have erupted in cities like Barcelona and Paris against skyrocketing costs, which have been blamed on overtourism, short-term home rentals, and an influx of people and businesses with higher purchasing power.

Frente Anti Gentrificación Mx, one of several groups that helped organize the protest on Friday, compared gentrification on its social media to a new form of colonization in which “the state, institutions, and companies, both foreign and local, provide differential treatment to those with greater purchasing power.”

Anti-gentrification activists say thousands of people in the Mexican capital have been forced out of their homes in recent years as tourists and remote workers, many of whom are believed to be American, take over popular neighborhoods like Roma and Condesa.

But a spokesperson for Frente Anti Gentrificación Mx pushed back against Sheinbaum’s suggestion that their campaign was xenophobic, saying the demonstration was meant to highlight the plight of those priced out of their homes and to demand reforms from the government.

“In Mexico, housing costs have risen 286% since 2005 … while real wages have decreased by 33%,” said Morales, citing data from the National Institute of Statistics and Geography and the Federal Mortgage Society.

She acknowledged that many people have been moving to Mexico for a variety of reasons, from the appeal of its culture to the relative affordability of its houses. At the same time, she urged potential newcomers to consider how such a move could affect the local community.

Not a new phenomenon

Immigration is not the sole cause of Mexico City’s gentrification, which is a phenomenon that has happened for decades, say experts.

“In the debates, there’s a confusion about gentrification being when foreigners arrive. And that’s not true,” activist and lawyer Carla Escoffié said, noting that other causes include inequality, deficiencies in housing policy and land privatization.

“Not all foreigners gentrify, nor are only those who gentrify foreigners, nor is a significant migration process necessary for gentrification to occur. Gentrification is based on inequalities in such a way that it’s not the same thing,” she added.

But the arrival of short-term rentals like Airbnb, and remote work policies during the pandemic, have turbo-charged the gentrification debate in recent years.

“Since 2020, a new phase of gentrification has begun, one that has worsened,” said Escoffié. “It’s been driven by digital nomads and short-term rental platforms like Airbnb.”

Airbnb defended its activities in Mexico City on Tuesday, saying it helped generate more than $1 billion in the local economy last year, and arguing that guests who booked accommodations also spent money on shops and services in the capital.

Mexico City’s government signed an agreement with Airbnb and UNESCO in 2022 to promote the capital as “a global hub for digital nomads and creative tourism.” Sheinbaum, who was the mayor of Mexico City at the time, presented the initiative as a way to boost the local economy.

The appeal was especially attractive for US citizens, who can stay in Mexico without a tourist visa for less than six months before requiring a special temporary residency permit, according to experts. In 2022, 122,758 temporary residency permits were granted to foreigners for Mexico, according to the National Institute of Migration, up from 97,825 in 2019.

But for many residents, the Mexico City initiative was another sign of the displacement happening around them.

A global trend

Anger about gentrification is not unique to Mexico City. Local governments from tourist destinations in Europe, such as Spain’s Canary Islands, Lisbon and Berlin, have announced restrictions on short-term rentals in the past decade.

Barcelona’s leftist mayor, Jaume Collboni, said that by November 2028, the government will scrap the licenses of the 10,101 apartments currently approved as short-term rentals in the popular tourist destination.

Residents in the Catalan capital have documented how renting by the day is more profitable for landlords than renting by the month, which has triggered evictions and the transformation of homes into short-term tourist accommodations.

In Mexico City, Airbnb has over 26,500 listings, according to the rental platform, many of which are concentrated in the areas most affected by gentrification. These listings are concentrated in the central neighborhoods of Condesa, Roma, Juárez and Polanco, according to Inside Airbnb, a project that provides data about Airbnb’s impact on residential communities.

In response to mounting criticism and the protests of 2022, the local government introduced new regulations, but experts argue they fall far short.

Airbnb, meanwhile, says the city needs regulations that support home sharing, not prohibition. It argues that many people in Mexico City rely on the platform as a financial lifeline, with 53% of its hosts saying the service helped them stay in their homes and 74% of hosts saying it helped cover essential expenses.

Activists are now bracing for when Mexico opens its doors to soccer fans for the next World Cup in 2026, which Morales fears could result in the state prioritizing business dealings over residents. “Given the critical state we’re in, who would come up with this?” she asked.

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As expected, the motion failed to get the two-thirds majority it needed to pass. Only 175 members of parliament backed the motion, while 360 voted against and 18 abstained.

Romanian nationalist Gheorghe Piperea, the lead sponsor of the motion, had criticized among other things the Commission’s refusal to disclose text messages between von der Leyen and the chief executive of vaccine maker Pfizer during the COVID-19 pandemic.

“The decision-making has become opaque and discretionary, and raises fears of abuse and corruption. The cost of obsessive bureaucracy of the European Union such as (tackling) climate change has been a huge one,” Piperea told the parliament on Monday.

During the debate on her leadership, von der Leyen defended her record in parliament, rejecting criticism of her management of the pandemic and asserting that her approach ensured equal vaccine access across the EU.

Although the censure motion had little chance of success, it was a political headache for von der Leyen as her Commission negotiates with US President Donald Trump’s administration to try to prevent steep US tariffs on EU goods.

It was the first time since 2014 that a Commission president has faced such a motion. Then President Jean-Claude Juncker also survived the vote.

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The removal of the tree from its spot known as “Sycamore Gap,” a pronounced dip in Hadrian’s Wall, in September 2023 sparked global outrage. Sycamore Gap was considered one of the most photographed trees in England and was made famous to millions when it appeared in Kevin Costner’s 1991 blockbuster film “Robin Hood: Prince Of Thieves.”

In May, two men were found guilty of criminal damage for felling the landmark tree.

Now, a section of it will be put on permanent display at The Sill: National Landscape Discovery Centre, about two miles (three kilometers) from where it once stood.

The UK’s National Trust gave the largest remaining piece of the salvaged trunk to the Northumberland National Park, where the tree was located.

“In the days and months after the tree was felled, The Sill became a place of celebration and memory. Visitors left post-it notes, letters, drawings and messages expressing grief, love, and hope,” the park said in a press release Thursday.

A public consultation was held in the aftermath of the felling on the future of the tree trunk. “The resulting exhibit honours the tree’s natural form while inviting people to engage with it in a deeply personal way,” The Sill said in a press release Thursday.

Tree trunk ‘is huggable’

The trunk is positioned upright, as it once was, and is surrounded by tree oak benches and streams of wood bent to form a canopy in the shape of a huge leaf – recreating the shelter the tree once offered for people to sit and reflect.

Some tributes from the local community have been carved into the wood.

“The original tree may be gone in the form we knew it, but its legacy remains, and what has come since has been endlessly positive, affirming our belief that people nature and place cannot be separated and are interdependent,” said Tony Gates, chief executive of Northumberland National Park Authority, in the release.

“This commission has been the biggest honour of my career,” said Charlie Whinney, the artist behind the new exhibition, in the release.

“I really hope what we’ve done in some small way allows the people of Northumberland and those who held this tree close to their hearts to process the loss they still feel from that day in September 2023, when the tree was illegally cut down,” he added.

“The work looks forward with hope, the tree is regrowing, and Sycamore Gap will always be a magical place to visit,” Whinney continued.

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