Oil Price Rises

Asian equities were lift due to yesterday’s rebound in Chinese stock market. Chinese equities were expected to remain volatile as Beijing’s trade feud with Washington showed little signs of de-escalation. U.S. has restored sanctions against Iran as President Donald Trump reaffirmed plans to impose more penalties on the country’s Oil sales in November. The crude sanctions will take effect on November 4 this year. Trump also signed an executive order to restrict purchases of dollar banknotes by Iran, preventing the government from trading gold and other precious metals and blocking the nation from selling or acquiring various industrial metals. The measures would take effect on Aug. In Eurozone Comments from officials about a no-deal Brexit stoked fears Britain would crash out of the EU next year without securing a trade agreement.

In currencies, EUR/USD remained weak after slipping to a five-week low of $1.1530 overnight, as German industrial orders fell more than expected in June, posting their steepest monthly drop in well over a year. GBPUSD sank as far as $1.2920 overnight, its lowest since early September, before making up some losses. USDJPY Is moving slightly higher ahead of Thursday’s expected bilateral trade talks between the U.S. and Japan in Washington.

In commodities, Gold bounced from near 17-month lows after weaker-than-expected U.S. jobs data and was last up 0.2 percent at 1,215.45. Oil extended the previous day’s rally after the imposition of U.S. sanctions against major crude exporter Iran took effect on soon. Brent crude futures rose 0.33% to 73.99, while U.S. crude oil futures added 0.12% to 69.09 a barrel.

For today minor economic releases are coming from UK. Halifax HPI m/m, US JOLTS Job Openings , Consumer Credit m/m, Japan BOJ Summary of Opinions.