Airbus issues, stronger Dollar and a reactive Oil market

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.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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