Forex Focus on Oil Prices

Good morning. The drone attack on a Saudi Arabia oil facility send oil prices higher as analysts estimate that will reduce 5% world’s oil supply. In European session, USDCHF traders will watch the SNB total sight deposits w.e. 13 September due at 8:00GMT. The Italy August final CPI figures will be released at 8:00GMT. ECB chief economist Philip Lane speaks in London at 12:00GMT.

In American forex calendar the NY Fed Empire State Manufacturing Index will be released at 15:30.

During Asian trading session the China Industrial Production (year over year) came in at 4.4% below expectations of 5.2% in August. China Retail Sales (year over year) came in at 7.5%, also below market consensus of 7.9% in August.

Asian indices are trading mixed today, Hang Seng gives up 1.12% at 27,045. EURUSD trades 0.01% lower at 1.1070; the USDJPY is 0.20% lower at 107.84 while the AUDUSD is 0.08% lower at 0.6874.

The central bank of China set the Yuan rate (USDCNY) at 7.0657 versus yesterday fix at 7.0843.Don’t miss a beat! Follow us on Telegram and Twitter.

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