The French authorities have issued a 2017 France Terror warning following a horrid incident at the Paris IMF and World Bank offices. How did the financial markets respond to the attack?
16 March, AtoZForex – France issued a terror warning in the country on Thursday. This warning followed after the explosion of a “letter bomb” at the IMF offices in central Paris. According to police sources, a letter exploded when it was opened in the IMF offices. One person suffered slight injuries.
France has experienced in the last few years a series of attacks that has shocked the world. The appalling Paris attacks in 2015 and the deadly attack in Nice of last year are still fresh. Yet, France has witnessed another dreadful incident at the start of 2017.
Was Thursday incident a terrorist attack?
Following the explosion at the IMF office, there was a shooting incident reported at a high school is Grasse. In this, the police arrested one person, as per the news from the local media. According to the Interior Ministry, 8 persons suffered injuries in the shooting incident. Initially, the authorities thought that the Grasse incident was a terrorist attack. Later, according to the media, it is said that it could be due to a fight between two students and may not have been terrorism-related.
It was too early for the police to say whether it was terrorism related. The police sources reiterated that they have arrested a 17-year-old student with a rifle, two handguns, and two grenades. Moreover, they are looking for the second suspect.
2017 France Terror warning
As per a tweet from the local emergency services, they advise all the residents to stay at home. The French government launched its mobile app warning of a “terrorist” attack.
The Paris police department tweeted that an operation was ongoing at the IMF and World Bank offices. The Police carried out the operation after a suspect package exploded. According to one police source:
“An envelope exploded after it was opened and one person was slightly injured in the offices of the IMF.”
Is it a coincidence? As today’s horrid event took place, just six weeks before France’s election. Alongside, yesterday there were reports of a parcel bomb targeted to the German Finance Minister, Wolfgang Schaeuble. The German police found an explosive-laden package at the German Finance Ministry. According to reports, a militant Greek group Conspiracy of Fire Cells has claimed responsibility for this parcel bomb.
How did markets respond to the attack?
Due to the lack of confirmation of the motives and the perpetrators, confusion among the market is great. It could be one of the reasons why the global markets have not reacted to the letter bomb incident. According to AtoZForex market analyst, Chrysanthos Demetriou, gold’s highs will likely remain intact, whereas the major Forex safe havens will stay in the current ranges.
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