The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
Tag - wti - west texas intermediate
The global recovery increased the demand for crude oil and dragged the price to the pre-crisis levels.
EUR/USD, the S&P 500, gold, and oil - everything is here! Jump in!
Oil fell below $52.00 because investors expect a weaker oil demand amid rising Covid-19 infections and new lockdowns.
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.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
The worse-than-expected US retails sales pushed the USD down. How to trade today?
OPEC+ moved its meeting to today to hold a teleconference; that meeting will define the course of WTI oil price in the mid-term and shed light on the outlook for the global oil demand.
The gold price and the S&P 500 go beyond important psychological levels sharing bullish vibes across the markets. In the meantime, WTI oil trades at local highs, too, in the hopes of an upbeat outlook to come from the OPEC meeting next week.
WTI oil pulled back after it surged above $52.00 for the first time since February. What's next?
Investors are waiting for the significant decision of OPEC+ members to prolong oil output cuts or stop them.