Daily Report

17 de Setembro de 2019
Daily Report 17.09.2019
  • Investors flew to safe-haven assets in the first session of the week as they reacted to the weekend's drone strike on Saudi Arabia's oil production facilities. Media reports suggested it could take months for Saudi oil production to return to normal, but markets cooled after Trump announced the U.S. would release emergency crude stockpiles.
  • In this context, Brent oil prices surged by more than 14% (after having jumped by 20% at the start of the session, the biggest spike in almost 30 years), global stock markets declined and safe-haven flows drove sovereign yields down.
  • In FX markets, the GBP weakened against most advanced economies' currencies after no signs of progress in Boris Johnson's Brexit meeting with EC President Jean-Claude Juncker.
  • On the data front, Chinese indicators slowed down in August. In particular, industrial production growth decelerated to 4.4% (its weakest figure in 17 years) and retail sales growth nudged down to 7.5% (July: 7.6%).