UK cabinet ministers have publicly supported Labour leader Keir Starmer amid the Mandelson affair scandal, providing short-term political stability. However, analysts warn that long-term risks could affect Labour's future, with potential impacts on market confidence. The rally of support occurred in April 2026, as political tensions surrounding the scandal continue to unfold.
Shiba Inu's futures open interest dropped 7% to 9.85 trillion SHIB, despite maintaining the $0.000006 support zone. The decline reflects a shift in investor sentiment, leading to decreased trading activity. The market remains cautious, with Shiba Inu holding steady in its key price level amid the recent drop in open interest.
US gas prices could reach $3 per gallon by summer 2026 if the Strait of Hormuz reopens, potentially stabilizing oil markets and easing economic pressures. The reopening of the strategic waterway is seen as a key factor influencing fuel costs, which have been volatile due to geopolitical tensions. This development could impact both energy markets and consumer expenses nationwide.
Gold prices rose nearly 1% to $4,829 per troy ounce, marking a fourth consecutive weekly gain. The increase was driven by a softer U.S. dollar and ongoing geopolitical developments in the Middle East. Market focus remains on signals of a potential Fed rate cut and the Middle East truce, supporting gold’s appeal as a safe haven asset.
XRP surged past $1.40, marking its strongest weekly gain, with Ripple leading the market this week. The cryptocurrency remains bullish, with analysts optimistic about its potential to continue its upward trend into next week. The recent rally highlights XRP's resilience amid market fluctuations, fueling speculation about further gains in the near term.
Dogecoin's price neared $0.25 after large holders moved 3 billion DOGE from Robinhood to cold wallets in April, with Elon Musk’s X Money absorbing the tokens. DOGE is currently trading near $0.95, up 3.88% weekly. Analysts suggest that sustained buying could push DOGE toward $0.25, amid heavy capital inflows from Pepeto presale.
The UK has declared a critical maritime threat level for the Gulf and Strait of Hormuz, heightening concerns over potential disruptions to global trade routes. This escalation could impact oil prices and increase geopolitical tensions in the region, which are closely monitored by markets worldwide. The move underscores the ongoing instability in a key strategic area affecting global energy supplies.
