Weekly Markets Review

Crude oil prices jumped around 18 % earlier today it was reported that Saudi Arabia’s Aramco oil production site was attacked by drone strikes over the weekend.

The UK Prie Minister Boris Johnson seems like is trying to secure a new Irish border compromise with the support of Northern Ireland’s DUP.

The GBP managed to advance as a short covering incline stimulated it to a massive rally.

The Euro is still around peak values of the last two weeks versus the USD. This takes place despite the ECB falling rates further into negative territory and re-booting the bond buying program.

Asia Pacific stock markets got off to a mixed start to the week as oil prices rose to a solid rate. Both international benchmark Brent and West Texas Intermediate soared around 10% on daily basis.

EUROPE:

Tomorrow, EUR German ZEW Survey Expectations (SEP) comes out from a mark of -44.1. In addition, EUR Euro-Zone ZEW Survey (Economic Sentiment) (SEP) is expected from a close of -43.6. On Wednesday, the British GBP Core Consumer Price Index (YoY) (AUG) is expected to mark 1.8% from 1.9%. Moreover, the British GBP Consumer Price Index (YoY) (AUG) forecast dropped to 1.8% from 2.1%. On Thursday, GBP BOE Asset Purchase Target (SEP) is likely to remain around 435b. Furthermore, GBP Bank of England Bank Rate (SEP 19) is also expected to remain around 0.75%. 

U.S.:

Later today, USD U.S. to Sell 6-Month Bills and USD U.S. to Sell 3-Month Bills will be announced. Tomorrow, USD Manufacturing (SIC) Production (AUG) slipped to 0.1% from -0.4%. Additionally, USD NAHB Housing Market Index (SEP) is likely to remain 66. On Wednesday, USD FOMC Rate Decision (Lower Bound) (SEP 18) sunk to 1.75% from 2.0%. Later at 18:30 USD Powell Holds Post-FOMC will have a Press Conference. On Thursday, USD Leading Index (AUG) is predicted to retreat to 0.1% from 0.5%. On Friday, USD Baker Hughes U.S. Rig Count comes out.

ASIA:

The Chinese CNY Industrial Production (YoY) (AUG) marked 5.7% from 5.5%. Also, CNY Industrial Production YTD (YoY) (AUG) slipped to 5.6% from 5.8%. Tomorrow, JPY Trade Balance dropped to -¥346.3b from -¥249.6b. On Wednesday, the NZD Gross Domestic Product (YoY) tumbled to 2.1% from 2.5%. On Thursday, JPY BOJ 10-Yr Yield Target will be announced. Moreover, the Australian Unemployment Rate (AUG) is expected to mark 5.2%. Additionally, JPY National Consumer Price Index (YoY) (AUG) is due from 0.5%. On Friday, JPY BOJ Outright Bond Purchase 5~10 Years will be reported. Also, JPY BOJ Outright Bond Purchase 25 Years~ is due.