Breaking: Russia and Saudi Arabia reached a deal on strong production cut
Russia and Saudi Arabia have managed to remove the main obstacles and agreed new deal on oil cuts.
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- Oil prices fall on renewed fears of deepening crisis in banking sector
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- Yen advances further on increased safe-haven demand
- Euro loses ground as banking stocks collapse
- Cable loses traction after upside rejection, little help from upbeat UK retail sales
- Bank of England raises interest rates by 25 basis points on higher inflation / bank worries
- Bulls are running out of steam after a six-day rally
- Gold regains traction on Fed’s dovish shift / growing uncertainty
- Dovish Fed further deflates dollar
- Dollar is in quiet mode ahead of Fed’s decision