The sentiment is indeed risk-on today! S&P 500 surged to the all-time high, and EUR/USD jumped to levels unseen since May of 2018. Let’s have a closer look.
Important news for oil traders
The meeting of the Organization of the Petroleum Exporting Countries (OPEC) will take place on June 22. During this day, there will be important announcements from the world’s top oil producers.
The main question is whether the largest exporters decide to stick to output cuts or choose to increase production.
• If OPEC decides to increase output, oil prices will go down.
• If OPEC maintains limitations on output, oil prices will go up.
The dynamics of oil prices has a direct impact on the currency market. Commodity currencies like CAD, AUD, NZD will be the most sensitive to the news. And remember that you can trade WTI and Brent oil with FBS as well.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The New Zealand interest rate is announced on Wednesday at 05:00 MT time.
Long time we haven't checked the S&P 500 stocks - there are interesting events and trends to follow.