Correlation between the European currency and oil | 06 tháng tư 2022

06 tháng tư 2022, EUR/USD

EURUSD trading plan:

Oil prices eased in volatile trade on Tuesday, pressured by a rising U.S. dollar and growing worries that new coronavirus cases could slow demand. Demand worries mounted after authorities in top oil importer China extended a lockdown in Shanghai to cover all of the financial center's 26 million people. To calm oil prices, U.S.-allied countries agreed last week to a coordinated oil release from strategic reserves for the second time in a month. The U.S. plan to release 180 million barrels of oil from its Strategic Petroleum Reserve has narrowed the spread between current and later-dated crude futures. This is a negative signal for oil and the European currency, since assets correlate with each other.

Investment idea: sell 1.0915 and take profit 1.0845.

David Johnson
Analyst of «FreshForex» company
Đồng ý với đánh giá?
Ý kiến ​​của thương nhân:
Close
Đăng nhập
Trình duyệt của bạn không hỗ trợ cookie Nếu cookie đã bị vô hiệu trong trình duyệt Internet của bạn, bạn có thể gặp vấn đề với việc hiển thị Khu vực cá nhân. Cách bật hỗ trợ cookie .