Monday Brief: Iran Admits to Downing Ukrainian Plane, GBP Tumbles, US/China Deal to be Signed

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1. US/Iran Tensions Intensify

Iran’s government is now facing anti-government protests after the Iranian regime admitted that its armed forces unintentionally shot down the Ukrainian passenger plane in Tehran that killed 176 people. U.S. President Donald Trump tweeted his support for the protesters on Sunday in Farsi. Meanwhile, videos also emerged showing Iranian police and security forces firing live ammunition to disperse demonstrators –  if true, this could be seen as an act of defiance against Trump who warned the regime against using deadly force.

US defence secretary had confirmed that Iran had obviously planned to attack U.S.sites yet without a confirmation that General Soleimani has been involved in the planning. Meanwhile, the French, German and UK parliaments have said they stand with the nuclear deal from 2015

 

2. US/China Phase 1 Deal in Focus

Washington and Beijing are expected to sign a Phase 1 deal on Wednesday, while U.S. Treasury Secretary Steven Mnuchin insisted on Sunday that China’s commitments had not changed. The imminent signing of a preliminary trade deal helped Asian currencies push higher rally on Monday. US markets may also see further highs with the Dow Jones Industrial Average setting a new intraday high on Friday, briefly topping the 29,000 level.

 

3. GBP Tumbles 

Sterling fell this morning slipping against major rivals after some very dovish comments from Bank of England policymaker Gertjan Vlieghe over the weekend. Vlieghe’s comments sparked concerns of a possible BoE rate cut and pushed the GBP sharply lower. 

 

4. Wirecard Shares Recover After Steep Slump

Wirecard AG shares recovered after tumbling on a recent controversy over the digital payments company’s accounting practices which caused Chairman Wulf Matthias to resign. Matthias will be replaced by Thomas Eichelmann but will remain a member of the board.

 

You can find and trade CFDs on all of the above-mentioned assets on BDSwiss Forex/CFD platforms.

 

Sources:
CNBC Jan 13, 2020 2:48 AM ET
Investing Jan 13, 2020 7:33 AM ET
Bloomberg Jan 13, 2020 6:45 AM ET
Reuters Jan 13, 2020 05:58 AM ET

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