Market Update – 16th September 2019 – Oil On The Move, Markets Volatile As Drones Takes Out Saudi Oil

Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.

Equities Post Gains: 

Positive investor sentiment helped equities and commodities make gains Friday night however those gains could be short lived as drone attacks on Saudi oil infrastructure and subsequent comments from the U.S administration over the weekend could roil markets today when they open shortly. Oil is likely to be the big gainer given the large amount of Saudi production taken off line over the weekend. Equities, commodities and the AUD could also encounter selling pressure as investors choose safe havens like the USD, JPY and Gold.

The AUD was down marginally across the board with most losses against the GBP where we were down around 1% on further Brexit volatility.

No economic data is due today.

AUD EXCHANGE RATES:

AUD/USD – 0.6834

AUD/GBP – 0.5460

AUD/EUR – 0.6168

AUD/NZD – 1.0744

AUD/JPY – 73.588

OTHER MARKETS:

All Ords (XAO) – 6,777

Gold – A$2,164/oz

Silver –  A$25.37/oz

WTI – US$54.76/barrel

DATA RELEASES TODAY:

No data.

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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