Market Recap – Rough Start

Holiday’s lightness was abruptly interrupted. Qassem Soleimani ,the commander of a branch of Iranian Armed Forces, and architect of Iran’s actions in Syria and Iraq, has been killed, following a US air raid at Baghdad’s international airport. Risk-off mode is prevailing.

Liu He is visiting the US to sign the already priced phase 1 deal between USA and China.

Spain is set to form a coalition government. The first round of confidence votes is happening on Sunday.

Macro releases: Yesterday’s Manufacturing PMI releases were as low as expected. The European and UK’s manufacturing index was at a contraction territory, the Canadian index was near the 50 threshold and the USA’s index was falling. Today’s economic calendar includes the US crude oil inventories and the minutes of the latest FOMC meeting.


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