Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
Tag - oil
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The worse-than-expected US retails sales pushed the USD down. How to trade today?
Fresh ideas for gold, EUR/USD, GBP/USD and S&P 500!
Stock significantly surged: S&P 500 and Nasdaq reached 6-week highs. The market sentiment may deteriorate today as Johnson & Johnson’s Covid-19 vaccine trails have been stopped because of the unexplained illness.
Oil keeps rallying for the fourth day in a row after Goldman Sachs claimed that the oil market is in deficit and also because of the recent storm in the Gulf of Mexico, which led to the sharp decline of oil production. It is the best week for oil since June!
Oil prices are steadily growing as crude stockpiles have been declining for six weeks.
The stocks rally takes a pause amid the deteriorated sentiment. Let’s discuss what drives the market today.