19/09/2019
Good morning! Today's market update:
- Oil prices have steadied as Middle East events kept investors nervous, while caution ahead of an expected US interest rate cut kept wider financial markets in tight ranges.
- Gold prices fell more than 1.0 per cent to a one-week low overnight, pulled down by a lack of clarity on future monetary policy decisions after a widely anticipated interest rate cut by the US Federal Reserve.
- Oil prices retreated about 2.0 per cent overnight, extending the previous day's declines after Saudi Arabia's government said it would quickly restore full production following Saturday's attacks on its facilities and as US crude stockpiles rose unexpectedly.