Market commentary: Oil is showing some weakness


forex market update

ActivTrades’ Market Analysts have provided their daily commentary on traditional markets for April 15, 2019. 


Forex

The US Dollar continues to record losses, trading at $1.1320 to the Euro during early Monday trading as the markets’ risk-on mood carries on from last week, with encouraging signs provided by progress in the China-US trade talks and positive data from China suggesting a pick up in growth. A further headwind for the Greenback was provided by President Trump, once again pointing the finger at the Fed and its tightening policies. This time the US president blamed the central bank for standing in the way of a more successful stock market.

Ricardo Evangelista – Senior Analyst, ActivTrades

Oil

After six weeks in a row of gains, oil is showing some weakness. The main trend is still positive, but some investors are taking profit after the bullish move of the last few weeks. In other words, the modest decline seen this morning is a natural correction after a long rally. Moreover, prices have softened a little after testing the resistance area of $64.5. A breach of this level could open space for further rallies while a fall below $62 would denote weakness.

Carlo Alberto De Casa– Chief Analyst, ActivTrades

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Market commentary: Oil is showing some weakness

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