The US Dollar kicks off the week on a negative note [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The week begins with a sharp decline in oil prices – around 4% at the time of writing – as OPEC+ announced it would accelerate output restoration by 411K barrels per day. No one knows the motivation behind the move, but the impact on oil’s direction is clear: to the downside.

PS: Lower oil prices are obviously a straight positive for bringing inflation lower for the US and elsewhere, and potentially allow global central banks to tame the negative impact of the trade war on their respective economies. The Federal Reserve (Fed) is expected to maintain rates unchanged this week, while the Bank of England (BoE) will likely announce a 25bp cut.

The US dollar kicks off the week on a negative note, as Asian currencies soar on rumours that there could be some announcement on the trade front later today.

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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