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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 December, a major measure of American producer prices suddenly slumped and the overall gauge went down more than predicted in the face of lower crude prices, indicating that potential inflation pressures in the American economy are still there…
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
In November, euro zone industrial output reported its greatest dive for almost three years, as follows from data uncovered on Monday…
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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