Why Oil Jumped to the Upside Last Week? – Brent Crude Oil Forecast
Wall Street heavy opening brought a fresh bout of dollar selling, exacerbated by poor US data and thin trading. Risk aversion, the main market motor.
Analysis
- · EUR/USD: above Friday's high, bullish despite limited range
- · US Dollar weaker, holding on to 93.00
Despite the USD weakness, the GBP is having a hard time to advance beyond 1.12900, with sellers aligned around 1.2920/30.
The Japanese yen keeps benefiting from the ongoing risk environment, with the USD/JPY pair dragged lower by plummeting US Treasury yields.
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