Blueprint FX Desk
Blueprint Capital
Market focus today
USD Gross Domestic Product
Expect high volatility in
Every USD pair
USDCAD after the rise in oil price caused by the bombs in Yemen
NEWS ROUNDUP
Bombs in Yemen raise oil price The Saudi air strikes on Houthi rebels have raised fears that the civil conflict in the Gulf state could escalate into a regional war. Fighting has also raised concerns about the vulnerability of the Bab el-Mandeb strait between Yemen and Djibouti – a potential “chokepoint” in the global oil market.
Sterling, bolstered by a robust UK economy and strong jobs data, has been very popular, particularly against the euro for much of the past three months. Of late, however, the music has stopped, the lights flashed on, prompting a stumble in the broad value of sterling. The go-to explanation is the upcoming UK election, but as campaigning begins in earnest on Thursday night, with a TV grilling of David Cameron and Ed Miliband, interest rate expectations are also exerting an influence.
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