US deploys more defensive assets to Middle East amid Israel-Iran conflict
US Defence Secretary Pete Hegseth announced on Monday the deployment of additional American defensive capabilities to the Middle East to protect US forces and assets in the region as the Israel-Iran conflict escalates."Protecting US forces is our top priority, and these deployments are intended to enhance our defensive posture in the region," Hegseth said in a statement posted on the social media platform X.advertisementThough he did not specify the nature of the deployments, US officials confirmed that several key naval and air force assets have been repositioned to respond to the escalating security situation.
AirNav Systems, a flight tracking website, said more than 31 US Air Force refuelling aircraft -- primarily KC-135s and KC-46s -- left the United States on Sunday, heading east. The US officials declined to comment on the number of aircraft, Reuters reported."The sudden eastward deployment of over two dozen US Air Force tankers is not business as usual. It's a clear signal of strategic readiness," said Eric Schouten at Dyami Security Intelligence."Whether it's about supporting Israel, preparing for long-range operations, logistics is key, this move shows the US is positioning itself for rapid escalation if tensions with Iran spill over."advertisementAirNav systems said US military flights had landed in Europe, including at Ramstein Air Base in Germany and airports in the United Kingdom, Estonia, and Greece.The United States already has a sizeable force in the Middle East, with nearly 40,000 troops in the region, including air defence systems, fighter aircraft and warships that can help bring down missiles.Over the weekend, two US Navy destroyers -- the USS The Sullivans and the USS Arleigh Burke -- successfully intercepted Iranian ballistic missiles, according to a US defence official who spoke on condition of anonymity.The Sullivans and the USS Thomas Hudner are currently in the Mediterranean, while the Arleigh Burke has moved away from the area. The USS Carl Vinson aircraft carrier is in the Arabian Sea with the four warships in its strike group. They are not participating in the defence of Israel.The USS Nimitz has been long scheduled to take over for the Carl Vinson and is heading west from the Indo-Pacific region.Additionally, the US Air Force has moved refuelling tanker aircraft to the Middle East - critical support assets for extended air operations including evacuations and potential fighter jet missions.The strategic movements give President Donald Trump a wider range of military options amid ongoing missile exchanges between Israel and Iran. However, Trump declined to elaborate on what might prompt direct US military involvement.advertisement"I don't want to talk about that" Trump said during a meeting with the Canadian prime minister at the G7 summit. "They should talk, and they should talk immediately," he said, urging Iran to return to negotiations over its nuclear program.Meanwhile, Iran's foreign minister, Abbas Araghchi, appeared to make a veiled outreach to the US to step in and negotiate an end to dayslong hostilities between Israel and Iran.In a post on X, Araghchi wrote that if Trump is "genuine about diplomacy and interested in stopping this war, next steps are consequential."With inputs from Agencies
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Time of India
39 minutes ago
- Time of India
Gold price prediction today: What will be the impact of Iran-Israel conflict - where are gold rates headed on June 17, 2025 and in the near-term?
Overall, as the things stand presently, gold is likely to trade with a slight bearish tilt. (AI image) Gold price prediction today: The ongoing Iran-Israel conflict has brought gold back into focus as a safe haven investment and gold rate has been rising for some days now. Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views on gold price outlook and what levels investors should watch out for: Gold Performance: On June 16, spot gold surged to $3,451 in the overnight trade as Iran and Israel stepped up their attacks on each other in the weekend. Gold prices eased as the day progressed on the notion that the ongoing military conflict would be confined. The Wall Street Journal reporting that Tehran has signalled its willingness to deescalate the conflict and resume nuclear talks with the US provided the US does not join the Israeli attacks further boosted the downside pressure on the yellow metal. Reuters also reported the willingness of Iran to de-escalate as conveyed through Qatar, Saudi Arabia, and Oman. Spot gold traded between $3383 and $3451 on Monday. At the time of writing this article, the metal was changing hands at $3398, down nearly 1% on the day. The MCX August gold contract was trading at Rs 99,280, down roughly 1% on the day. Although, reportedly Iran is willing to defuse the conflict, Reuters has cited Iranian State media saying that Iran is preparing for the largest and most intense missile attack in history on Israeli soil. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Israeli's PM Netanyahu, in his direct address to the Iranian people, called for overthrowing the clerical regime. Earlier he said that for three decades, the central threat to Israel's existence has been Iran's nuclear programs. Casualties have been reported by both nations as Israel dealt the worst military blow to the Islamic Republic since it was invaded by Iraq in 1980. Spot gold surged 3.68% in the week ending June 13 as the metal rose sharply in the last two trading days of the week on geopolitical concerns emanating from the Middle East due to the Iran-Israel conflict. Gold ETF: Total known global gold ETF holdings stood at 88.85 as of June 13 as ETFs recorded net inflows for the third straight week. Holdings are up 7.25% YTD. Hedge fund managers reduce net bullish gold bets: As per CFTC data, money managers decreased their bullish gold bets by 657 net-long positions to 129,851 in the week ending June 10 as long-only positions fell 772 lots to 164,315 lots. The short-only total at 34,664 was the lowest in 11 weeks. Data roundup: China's data released on Monday morning were mixed as retail sales (May) came in at 6.4% Vs the estimate of 4.90%, while industrial production (May) at 5.8% lagged the estimate of 6%. Meanwhile, property market data continued to reflect weakness, though jobless rate edged lower from 5.1% to 5% Vs the forecast of 5.1%. US Dollar Index and yields: At the time of writing, the US Dollar Index, at 98, was hovering near a four-year low. Ten-year and thirty-year US yields were up by around 0.65% on inflation concerns due to rising oil prices. Upcoming data and events: Today's major US data on cards include retail sales advance (May), industrial production (May) and import and export price indices (May). The Bank of Japan will announce its monetary policy decision on June 17 wherein it is expected to keep the target rate unchanged at 0.5% amid trade uncertainty. The US Federal Reserve will deliver its monetary policy decision on June the FOMC is expected to keep the overnight Fed Fund rate unchanged at 4.25%-4.50%, traders will look forward to clues to possible rate cuts as CPI and PPI data of May have been somewhat comforting. The Bank of England is set to announce its monetary policy on June 19. Traders expect the Bank to keep the Bank rate unchanged at 4.25%; however, the Bank's hint at possible easing going forward would be the major attraction for traders. Gold Price Outlook: In the very short term, gold moves will depend on the Iran-Israel conflict. US President Trump has confirmed Iran's inclination to talk about de-escalating the ongoing military conflict. However, Israel also needs to reciprocate. Positive ETF inflows and weakness in the US Dollar also support the yellow metal. Overall, if both Israel and Iran agree to sort out their differences through dialogues and Iran agrees to hold a nuclear deal talk, gold will fall further. In that case, gold can fall to as low as $3228. However, if the situation remains uncertain and the conflict continues, gold will have a good buying support. Overall, as the things stand presently, gold is likely to trade with a slight bearish tilt, though there are multiple factors like fiscal concerns, weaker Dollar, central banks' buying gold, geopolitical concerns due to wars and conflicts elsewhere, and investors looking for alternatives to the US assets, etc., that are supporting the gold rally. Considering Israel-Iran conflict de-escalation, traders may take a light sell position in the metal for very short-term trading. It is to be noted that US retail sales data and upcoming FOMC meeting will also be on traders' radar. Support is at $3375 (Rs 98,600)/$3328 (Rs 97,200). Resistance is at $3450 (Rs 100,800)/$3500 (Rs 102,200)/$3580 (Rs 104,500). In case of worsening Iran-Israel conflict situation coupled with heightened tariff concerns, gold may rise to $3700 (Rs 108,100). 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The Hindu
40 minutes ago
- The Hindu
Rupee rises 11 paise to 85.93 against U.S. dollar in early trade
The rupee rose 11 paise to 85.93 against the U.S. dollar in early trade on Tuesday (June 17, 2025) defying pressures from a weak opening in the domestic markets, rise in global crude oil prices, and a stronger dollar. At the interbank foreign exchange, the rupee opened at 85.96 against the greenback before rising further to 85.93, up 11 paise from its previous close. The rupee had closed at 86.04 on Monday (June 16, 2025). "If rupee closes above 86.20 today (Tuesday) or any day the importers will have hit a stop loss as the gains for dollar could go up to 86.70. One can, however, be satisfied for the presence of the Reserve Bank of India at 86.20 where it has been selling dollars to keep rupee steady," Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said. "The oil prices are the main factor for the rupee as FPIs and oil companies snap up dollars to fund their respective outflows. Today's given range is 85.75 to 86.30 and all depends on how the war progresses and what the RBI does in the market," he said. The prices of Brent crude— the global oil benchmark— rose 0.34% to 73.48 per barrel in futures trade after rising sharply over the past few days owing to the escalating Israel-Iran conflict. "Brent oil prices rose to $74.04 per barrel after U.S. President issued a warning against Tehran over the Israel-Iran conflict, keeping concerns of supply disruptions largely in play," Bhansali said. In the domestic equity market, the 30-share BSE Sensex declined 127.02 points to 81,669.13 in early trade, while Nifty was down 55 points to 24,891.50. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.17% to 98.16. According to the monthly data released by the Ministry of Statistics & Programme Implementation on Monday, the rate of unemployment in the country rose to 5.6% in May from 5.1% in April this year mainly due to seasonal variation. After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17% year-on-year to $38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at $21.88 billion during the month, as per the latest government data released on Monday. Imports declined 1.7% year-on-year to $60.61 billion in May. Foreign institutional investors (FIIs) offloaded equities worth ₹2,539.42 crore on a net basis on Monday, according to exchange data.
Time of India
40 minutes ago
- Time of India
Senate expected to pass crypto bill without addressing Trump's investments
The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers. The fast-moving legislation, which will be sent to the House for potential revisions, comes on the heels of a 2024 campaign cycle where the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond. Eighteen Democratic senators have shown support for the legislation as it has advanced, siding with the Republican majority in the 53-47 Senate. If passed, it would become the second major bipartisan bill to advance through the Senate this year, following the Laken Riley Act on immigration enforcement in January. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Still, most Democrats oppose the bill. They have raised concerns that the measure does little to address President Donald Trump 's personal financial interests in the crypto space. "We weren't able to include certainly everything we would have wanted, but it was a good bipartisan effort," said Sen. Angela Alsobrooks, D-Md., on Monday. She added, "This is an unregulated area that will now be regulated." Live Events Known as the GENIUS Act , the bill would establish guardrails and consumer protections for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. The acronym stands for "Guiding and Establishing National Innovation for U.S. Stablecoins." Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories It's expected to pass Tuesday, since it only requires a simple majority vote - and it already cleared its biggest procedural hurdle last week in a 68-30 vote. But the bill has faced more resistance than initially expected. There is a provision in the bill that bans members of Congress and their families from profiting off stablecoins. But that prohibition does not extend to the president and his family, even as Trump builds a crypto empire from the White House. Trump hosted a private dinner last month at his golf club with top investors in a Trump-branded meme coin. His family holds a large stake in World Liberty Financial, a crypto project that provides yet another avenue where investors are buying in and enriching the president's relatives. World Liberty has launched its own stablecoin, USD1. The administration is broadly supportive of crypto's growth and its integration into the economy. Treasury Secretary Scott Bessent last week said the legislation could help push the U.S. stablecoin market beyond $2 trillion by the end of 2028. Brian Armstrong, CEO of Coinbase - the nation's largest crypto exchange and a major advocate for the bill - has met with Trump and praised his early moves on crypto. This past weekend, Coinbase was among the more prominent brands that sponsored a parade in Washington commemorating the Army's 250th anniversary - an event that coincided with Trump's 79th birthday. But the crypto industry emphasizes that they view the legislative effort as bipartisan, pointing to champions on each side of the aisle. "The GENIUS Act will be the most significant digital assets legislation ever to pass the U.S. Senate," Senate Banking Committee Chair Tim Scott, R-S.C., said ahead of a key vote last week. "It's the product of months of bipartisan work." The bill did hit one rough patch in early May, when a bloc of Senate Democrats who had previously supported the bill reversed course and voted to block it from advancing. That prompted new negotiations involving Senate Republicans, Democrats and the White House, which ultimately produced the compromise version expected to win passage Tuesday. "There were many, many changes that were made. And ultimately, it's a much better deal because we were all at the table," Alsobrooks said. Still, the bill leaves unresolved concerns over presidential conflicts of interest - an issue that remains a source of tension within the Democratic caucus. Sen. Elizabeth Warren, D-Mass., has been among the most outspoken as the ranking member on the Senate Banking Committee, warning that the bill creates a "super highway" for Trump corruption. She has also warned that the bill would allow major technology companies, such as Amazon and Meta, to launch their own stablecoins. If the stablecoin legislation passes the Senate on Tuesday, it still faces several hurdles before reaching the president's desk. It must clear the narrowly held Republican majority in the House, where lawmakers may try to attach a broader market structure bill - sweeping legislation that could make passage through the Senate more difficult. Trump has said he wants stablecoin legislation on his desk before Congress breaks for its August recess, now just under 50 days away.
