The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
US Weekly Jobless Claims Fall to 1-1/2-Year Low
2021-08-19 • Updated
The US economic releases came in with much better than expected today, adding further evidence for the Federal Reserve, a day after the FOMC Meeting Minutes.
The initial jobless claims declined more than expected to 348K last week down from 377K the week before, while it had been anticipated to decline slightly to 364K. this is the lowest reading since the beginning of Covid19 pandemic.
Continuing Claims also declined but slightly less than expected to 2820K vs. 2899K, while estimates were to decline to 2800K.
The US Dollar remained near the high of the day but below the 93.50 resistance area, which should be watched very carefully as a break above that resistance may clear the way for further gains, possibly toward 93.75.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
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