The main events of the week are Non-Farm Payrolls (NFP) and the OPEC meeting. Jump in and get fresh trade ideas for the whole week!
Tag - oil
The dovish Fed and the weak US inflation data pressed the dollar down. Meanwhile, the earnings season goes on. Today PepsiCo and Disney will publish their earnings reports.
Oil has dropped to the lows unseen since late May, while gold has reversed up from a dip under $1,800.
Crude Oil dropped sharply last week right from our selling zone mentioned in our weekly video between 75.50 and 76.60, Brent Crude declined to 72.20’s nearing our 72.14 target mentioned in our weekly video as well.
The New Zealand dollar surged after the nation’s inflation surpassed the central bank’s target level.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What awaits the USD, oil, gold, and stock indices in the upcoming days? How to trade on the Bank of England's meeting and the NFP release? Watch the video to find out!
The market sentiment deteriorated as the new Covid-19 variant engulfed the UK. As a result, riskier assets such as S&P 500, oil, the AUD, the NZD dropped.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The stocks rally takes a pause amid the deteriorated sentiment. Let’s discuss what drives the market today.