Barrel of crude at $380? [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Appetite in Asia was mixed. US futures gave back a part of Friday’s gains, but FTSE and European futures opened in the green despite escalating tensions in Ukraine after the fall of Lysychansk in the hands of Russians. But, gains are probably fragile.

US stock and bonds markets are closed for bank holiday.

Gold is up, crude oil is down, and JP Morgan warns that the barrel of crude could jump up to $380.

In the FX, the US dollar index starts the week on a strong footage. The greenback reversed losses it recorded during the second half of June, and the dollar index is again very close to the 20-year peak it hit on June 15th, above 105 level.

The EURUSD is under pressure, the Aussie consolidates below 70 cents before the Reserve Bank of Australia (RBA) decision due tomorrow. The US will reveal the latest FOMC minutes and the June jobs figures this week.

Earnings calendar is light, with Levi’s Q2 earning due Thursday. Some investors watch the airlines stocks amid the monthly air traffic reports. But most of the market talk will be about the earnings expectations, before the banks announce their results from next week.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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