Frank Walbaum
FX Strategies.Asia
Important news for the day
- Tue, 03rd, 15:45 CET US ISM Manufacturing PMI.
Airbus news
Major news from the airline company Cathay Pacific currently circulate. It seems that an Airbus A350 plane is having some issues with their fuel lines, causing a grounding of planes with big flight delays. A faulty engine component has been detected on some planes of the same model. While certain parts need to be replaced the airline company from Hong Kong needs to cancel all flights between the country and SIngapore today. Engines for that model have been made by Rolls Royce. Share prices have plummeted more than 8.0% today.
Market talk
Markets remain in sideways pattern with mostly not much momentum for now. The Dollar’s slights strength causes metals to weaken. Oil price have currently stabilized and fell back towards higher levels as prices look well supported for now despite the dovish news from OPEC prior. Supply disruptions in Libya might be behind the move.
Tendencies in the markets
- Equities sideways, USD stronger, cryptos weak, oil sideways, metals weaker, JPY sideways.
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