Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're all doing well as we get things going here on the session. It's been a lively start for markets as we continue to see reactions to the attacks on Saudi Arabia's oil facilities over the weekend.
The attacks have led to heightened geopolitical tensions in the Middle East and oil prices jumped by their most ever before falling off a little as fears recede for the time being.
That said, the event saw risk-off flows come through with the yen and franc benefiting in the currencies space while gold is back up above $1,500.
Meanwhile, the pound is holding weaker as no-deal Brexit risks start creeping back in amid a move by cable to 1.25 and testing the 100-day moving average.
Looking ahead, the focus remains on defensive flows and reaction to the oil drama but we are starting to see markets settle down a little amid more calm tones being offered by Saudi Arabia and OPEC+ on the earlier attacks.
In the mean time, do be reminded that we'll have plenty of key central bank decisions this week with the Fed meeting due on Wednesday.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
