Crude oil prices tried higher but a report from OPEC saw it slip lower while the US Dollar caught an up draft on higher Treasury yields. Where to for WTI?
Current market conditions may keep the price of crude oil afloat amid the larger-than-expected decline in US inventories.
The euro will struggle to continue its recovery against the US dollar if US NFP data shows strength in the labor market and lead traders to increase bets on aggressive Fed policy tightening.
The Pound remains on the front foot in the afternoon session as the US Dollar struggles.
The Euro softened today while the US Dollar found support from rising Treasury yields in the Asian session. Will EUR/USD continue to rally?
OPEC is due to meet at 12:30 GMT today to discuss output targets for July and consider tapping into remaining capacity in light of the EU’s ban on Russian oil
GBP/USD looks to recover from yesterday’s sell-off as markets await key U.S. jobs data later today and tomorrow.
BoJ board member Seiji Adachi reaffirmed the Bank’s accommodative stance in light of above target inflation and a depreciating yen.
A stronger euro does not take away from a more dovish ECB and a mismatch in money market pricing, while the spotlight shifts to U.S. jobs data.
The Euro is approaching a 5-week high as the US Dollar is coming to terms with a Fed that wants to keep its options open. Can EUR/USD continue to rally?
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