OPEC

EURUSD bounces back The euro rallies on news that the EU may issue a joint bond to fund energy and defense. The pair found bids near May 2020’s lows (1.0810). An oversold RSI on the daily chart prompted sellers to take profit,…
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Today we have OPEC's Joint Ministerial Committee meeting. But the real potential market-moving event could be the end of the OPEC meeting tomorrow. With brent refusing to fall below the $100/bbl level, there is a lot of speculation about…
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It's understandable that the price of oil has been fluctuating lately, based on risks around the Russia-Ukraine situation. Arguably, that has been one of the drivers for the increased price lately. This potentially major risk event has…
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Following the OPEC+ meeting last week, WTI crude prices increased substantially, marking further consecutive multi-year highs. Over the weekend, some analysts wondered if crude would reach the $100/barrel mark, an important psychological…
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In the energy space, probably the biggest event this week is tomorrow's OPEC+ meeting, where they are expected to decide output levels. Today we have the Joint Ministerial Monitoring Committee (JMMC), which prepares the report on which…
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EURUSD weakens ahead of Fed meeting The US dollar rallies as the markets price in a hawkish tone out of this week's Fed policy meeting. As the US unemployment rate falls under 4% and inflation reaches a 40-year high, traders are…
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GBPUSD rises on BOE hike bets The pound soared on the prospect of rate hikes in the UK. Prime Minister Boris Johnson has announced that no new restrictions were needed against the omicron variant, clearing the path for the BOE to act…
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USDCHF to test key support The US dollar stabilized after Jerome Powell hinted at speeding up the taper pace. The break below 0.9270 has put the rally on hold. The support has turned into resistance with the latest rebound fading.…
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