HomeContributorsFundamental AnalysisDemand For Commodity Currencies Has Risen After Attacks In Saudi Arabia

Demand For Commodity Currencies Has Risen After Attacks In Saudi Arabia

Last week, the ECB meeting was a key event in the financial markets. The regulator, as expected, introduced additional measures to stimulate the Eurozone economy. The Central Bank also lowered its forecast for GDP growth and inflation in the Eurozone for the current and next years. Donald Trump criticized the Fed for a “strong” dollar. Financial market participants expect the Fed and the Bank of England meetings.

Demand for commodity currencies has increased significantly after attacks on oil facilities in Saudi Arabia, which led to a loss of about 5-6% of world production of raw materials. The growth of oil quotes exceeded 9%. The United States blamed Iran for this incident. Donald Trump said that the United States was on alert. The US President also allowed the use of strategic oil reserves to stabilize the situation in the oil market. We recommend following the current information on this issue.

The British pound reached the $1.25 mark amid optimistic Brexit news. Northern Ireland’s largest political party agreed to accept some of the rules of the European Union after Brexit. Investors also continue to monitor trade negotiations between Washington and Beijing.

Market Indicators

  • On Friday, the main US stock indices showed mixed results: #SPY (-0.07%), #DIA (+0.10%), #QQQ (-0.36%).
  • The 10-year US government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 1.82-1.83%.

The Economic News Feed for 16.09.2019:

  • Today, the news feed will be calm enough. At 15:30 (GMT+3:00), the NY Empire State manufacturing index will be published.
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