The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Tag - wti - west texas intermediate
The market sentiment is indeed risk-on today! Gold has approached to the key resistance at $2 050 and the S&P 500 is eyeing all-time high at 3 390.
The worsening Sino-American relations and the still-there virus in the US finally pushed gold to its all-time highs and got the USD under heavy pressure across the board.
According to analysts from Citigroup, crude oil prices will never reach $100 a barrel again. They claimed that the idea to reach such a high level “has far more fantasy than reality at its heart”. It’s a really severe statement. What are the reasons?
The USD keeps reigning in the Forex as the US infections are far from being managed while the EUR is pushed by hopes of the recovery fund; oil is revolving around $40 and gold is trying to claim higher grounds above $1 800!
Hopes for the EU recovery fund to be accepted and put to action soon are pushing the EUR higher across the board.
OPEC+ will have a meeting this week. What are we to expect?
The USD loses its grip over currencies as lighter moods enter the market.
Let's consider the key levels for today!
The market takes breath after the long rally. What opportunities do traders have today?
Coronavirus and massive oil oversupply was a once-in-a-generation coincidence. Is the worst over?
The risk-on tone is back on the market again. Let’s look at main trading opportunities.