Asian markets are poised to open higher after a positive session on Wall Street, lifted by the unexpected

GBL: Global Markets Daily

FX Research by Saktiandi Supaat

An Unexpected Deal

Asian markets are poised to open higher after a positive session on Wall Street, lifted by the unexpected agreement by OPEC to cut production with effect from November. Iran is exempted from limiting their production. Brent crude futures rallied 7% overnight but stopped short of breaching the key psychological U$50-level, suggesting that market watchers are hopeful but cautious of the deal. There were other factors that put Wall Street in a buoyant mood, including a better-than-expected...

Saktiandi Supaat    (65) 6320 1379    saktiandi@maybank.com.sg Fiona Lim    (65) 6320 1374    fionalim@maybank.com.sg