Good and bad news for the Euro. The good news is a bullish rally in the oil market. Progress in a long-running trade dispute between the United States and China, the world’s two biggest oil consumers, has boosted expectations for higher energy demand next year. The Organization of Petroleum Exporting Countries and its allies including Russia agreed in early December to make a further cut of 500,000 barrels per day from Jan. 1 on top of previous reductions of 1.2 million bpd. The bad news is the negative dynamics of the debt market, where there is a rapid increase in the yield of American treasuries.
Trading recommendation: range 1.1090 – 1.1150.
Origin: FreshForex
