Arab sources reported the sound of explosions in Saudi Arabia this morning; US interests in Saudi Arabia have been targeted, Fars News reports
The reported explosions in Saudi Arabia targeting US interests signal a notable escalation in regional tensions, which could have broad implications for oil prices and markets.
Swiss Retail Sales YoY (Feb) Y/Y 0.9% vs. Exp. 0.9% (Prev. -1.1%)
[MARKET UPDATE] Energy continues to retreat given overnight updates around the Iran war "coming to an end", WTI marginally below USD 100/bbl, lifting fixed income and equity futures further. To the detriment of the USD and benefit of G10 peers.
Arab sources reported the sound of explosions in Saudi Arabia this morning; US interests in Saudi Arabia have been targeted, Fars News reports
[CALENDAR ADDITION] An important statement by the Yemeni Armed Forces at 9:30 am local (07:30 BST), Al Mayadeen reports
Reports of explosions in Saudi Arabia; reporting in proximity to Saudi announcing the interception of two drones in the last few hours
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As traders, we should be alert to potential risk-off sentiment affecting equities and a flight to safety for assets like gold, while watching how this might impact energy prices given the critical role of Saudi Arabia in global oil supply.
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