This morning, there are rumblings of a new conflict in the Middle East, with Saudi forces backed by the United States undertaking military maneuvers against Yemen. One of the first impacts was naturally on crude oil prices, driving a barrel up to $51.
Currencies have also been affected, with the CAD and NOK taking advantage of the rise in crude oil prices while the CHF and other safe havens have been under strain.
On stock markets, after a tough day yesterday, with the main indexes closing in the red, everything is pointing to an opening in negative territory this morning. In short, the environment is primed for waves of volatility and potentially some appealing opportunities. Placing an order with your trader may be a wise idea. Today, we will also be keeping an eye on Bank of Canada Governor Stephen Poloz's speech to the Canada-UK Chamber of Commerce in London at 9:30 this morning.
- Range of the day: 1.2380 - 1.2500
Stéphane Goulet