Amplify Trading Global Markets Review - 27th September 2019

Amplify Trading Global Markets Review - 27th September 2019

Today's Highlights

  • Iran states US proposed to remove all tariffs in return for dialogue

  • Saudi Arabia agrees to partial ceasefire with Yemen 

  • US says Government intention is to reduce Iran export to zero

  • US Personal Spending disappoints expectations

Macro Review

Quite a bumpy Friday session with most of the activity in the energy space after the initial headlines suggesting a possible ceasefire between Saudi and Yemen which put Oil under pressure. Selling pressure intensified later in the session after Iranian sources said US was considering removing all sanction in return for dialogues. However, after briefly retesting the 55 handle to the downside, US sources denied the latter news reiterating Washington intention to bring Iranian Oil export down to zero. Therefore, WTI closes the EU session flat after a volatile day, stabilising above the key 55 level. Crude Oil is likely to remain in focus with consequences also on the US-China trade front, given the latest round of sanctions on Chinese oil tankers carrying Oil from Iran. Read HERE for more details on the matter

EU Close

If you missed the morning briefing from the desk click HERE

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