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The pair has broken two levels of support: at 1.4253 and 1.4221. The next support is at 1.4160.
However, according to estimations, rising prices will lead to the reduction of demand. An important event for the oil market is the meeting of the OPEC and its allies including Russia on April 20. Let’s look whether they are able to find a solution for the volatile market.
That is all for today. Follow markets news with us!
In October, the United Kingdom recorded a greater budget deficit than anticipated, as follows from first borrowing figures, since finance minister Philip Hammond pledged an end to austerity was over there…
Find out about the most important market movers from today's digest!
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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