Here is what you need to know on Monday, September 23rd:
- Risk aversion took over the market Friday on escalating trade tensions, and would likely persist Monday, following news indicating that the Pentagon will deploy US forces to the Middle East, which will be “defensive in nature,” a result of the Iranian attack on Saudi Arabian oil facilities.
- During the weekend, the Saudi Foreign Minister said that if the attack was launched from Iran, it would be considered an act of war. Meanwhile, Houthi rebels in Yemen have warned foreign diplomats that Iran is preparing a follow-up strike to the missile and drone attack on Saudi Arabian oil and gas facilities.
- The run to safety and the lack of progress on the Irish backstop weighed on the Pound.
- Safe-haven assets were the best performers, with gold and yen poised to extend their advances.
- Cryptos maintain the bearish tone, could turn north on persistent risk aversion.