Morning Update – 16/02/16 – by Arjun Lakhanpal

February 16, 2016 by

Morning all.. Pretty quiet overnight after the US holiday with the Nikkei closing up just 0.2% and HK up over 1%. The main mover was oil which climbed over a dollar or 4.8% overnight on talks of a meeting between the Saudi’s and Russia over the oil price. Mind you this was from one unnamed source who declined to be identified but it seems a meeting of sorts is taking place but without Iran involved.. However WTI is holding gains as London walks in. DAX futures have opened marginally firmer this morning on the back of oil.. GBP remained weak even with a stronger risk sentiment which is a concern for Cable as it usually rallies on risk on moves but the Brexit issue looms large and uncertainty is worrying investors. This looks set to continue as talks on a deal continue this week. EURGBP rising through the session but FX markets were somewhat muted.. Gold is down again trading back at $1200.. USDCAD moved lower on the firmer oil and this was one of the bigger moves overnight with AUD and Kiwi quiet. This morning we have Norway GDP and a host of UK data including CPI, ROI, PPI and ONS house price index.. Good luck..