Forexlive European FX news wrap 26 Aug – Libya halts oil production and exports

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Markets:

  • JPY leads, NZD lags on the day
  • European equities flat; S&P
    500 futures up 0.15%
  • US 10-year yields up 2 bps
    to 3.81%
  • Gold
    up 0.36% to $2,521
  • WTI
    crude up 2.69% to $76.84
  • Bitcoin down 0.48% to $63,953

It was a classic
quiet Monday session with little in terms of market moving data releases. The
only highlight was the German IFO reading which came out basically in line with
estimates.

The only major
news was the Libyan eastern-based government declaring the closing down of all oil
fields and halting production and exports as a force majeure announced in
response to the attempts to take over the central bank by the Tripoli-based
government.

In the
markets, there’s been very little movement with just crude oil getting the
attention following the Libyan news as the price shot 1.5% higher and counting.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Go to Forexlive

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