The Pressure of the Saudi Oil on the Market

The pressure of the Saudis on oil opens the oil foot to the forex market.

🇺🇸 The US dollar: With the increase in oil prices and the vulnerability of the Euro and the yen from this, the US dollar still has no competitors and is rising in the market. The only chance to change these ISM service conditions today, which should have a significant decline. The yen can be corrected against the euro, but it is difficult for the euro to work against the dollar.

🇪🇺 Euro: There is no chance for the euro at the moment, and due to the possibility of inflationary stagnation and the vulnerability of the euro, in this case, the possibility of the euro’s weakness is high, and the euro-dollar can go up until the September meeting when there is a good chance to increase the rates. to go down to 1.0650.

🇬🇧 Pound: All eyes will be on Bailey’s speech today, and in our opinion, there is another increase and then a stop. Due to the stagnation of production in the euro, the pound is susceptible to losses against the euro and the dollar, and there is a chance of breaking 1.25 per pound of dollars.

🇨🇦 CAD: There is no possibility of new action in today’s meeting, but the negative things have already been priced and the expectation is that the CAD will not weaken much against the dollar, and it can even strengthen up to 200 pip in the future.