What you need to know on Monday, September 16
Publish Date : 2019/09/16 - 10:20

What you need to know on Monday, September 16:

A drone attack on a Saudi oil facility knocked down around 50% of the biggest oil producer output and 5% of global production. Oil prices have raised by nearly 20% and stabilized around 10% higher. WTI trading near $60.

The safe-haven yen and currencies of oil-producing countries as the Canadian dollar and the Norwegian krone are on the rise.

Yemeni Houthi rebels took responsibility but the US blamed Iran for the assault.

Chinese Industrial Production rose by only 4.4%, at the lowest rate since 2002, adding to concerns about the global economy.

EUR/USD is trading steadily below 1.11 despite reports that the US may slap tariffs on the EU due to the latter's subsidies of Airbus.

GBP/USD is retreating from the highs around 1.25 as UK prime minister Boris Johnson heads to Luxembourg to meet European Commission President Jean-Claude Juncker. Reports from Brussels suggest some progress has been made toward reaching a deal.

US yields have been dropping after surging last week.

Source: Fxstreet

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