Fx Nowadays: oil production disruption spurred possibility aversion – FXStreet

Here is what you want to know on Tuesday, September 17th:

  • The EUR/USD pair settled around 1.1000, pressured by news that the  World Trade Group ruled in favor of the US  in the scenario of unlawful subsidies granted to European aerospace Airbus. Fears are that the US will now impose punitive tariffs to EU products for as much as $21billion.
  • In the Brexit entrance, British isles PM Boris Johnson achieved with his Luxembourg counterpart, Xavier Bettel, later skipping the press convention. Improved was still left on your own, and criticized Johnson for failing to make clear what he desired from Brexit. He then reiterated that the European Union will not give the British isles one more Brexit extension “just for the sake of one more extension,” and that the Withdrawal deal signed by previous PM Could is so far the only option probable.
  • Protected-havens gapped higher at the weekly opening adhering to oil-linked news, later easing in an uneven way. USD/JPY trimmed day by day losses, Gold retained some modest gains.
  • Crude oil prices surged to their highest in 4 months following the weekend drone attacks that disrupted 50% of Arabian oil production. Hazard aversion triggered by the assault prevailed throughout the day.
  • US President Trump indicated that the US is completely ready to reply to the assault in Saudi Arabia, blamed Iran to be at the rear of it.

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