The dollar is looking mixed this morning after an attack on Saudi Arabian oil facilities disrupted global oil supply, causing the price of oil to jump by more than 15%. The US have issued satellite data to back it’s claim that the strike was initiated by Iran. In a tweet, President Trump didn’t directly accuse Iran, but suggested that military action may be taken once the culprit is confirmed.
Retail sales for the US were released on Friday, showing a mixed outcome. Sales rose 0.4% in August, beating expectations of a 0.2% rise. This was boosted by spending on motor vehicles, building materials and healthcare. However, core sales, which removes vehicle sales, were unchanged.
The Federal Reserve are due to reveal details of their next interest rate decision on Wednesday. It’s difficult to predict whether another cut will take place, or whether Fed officials will take the view that they have taken enough action for the time being. Either way, we could see some movement from the dollar as a result.
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