Oil price volatility rattled the markets on Monday after Russia and Saudi Arabia pledged to stabilize the saturated oil markets. Dollar weakness is still a key theme following August’s soft NFP report which dented expectations over the Fed taking action in September. The Sterling surged with ferocity following the string of positive UK data which questioned if the Brexit had any impacts on the UK economy. With Fed rate hike hops on a thin line, Gold bulls were on the offense sending prices back towards $1330.
• The #EURUSD remains under pressure below 1.1200 • The #Dollar Index challenges the 95.50 support • #Gold bulls need to break above $1330
Oil price volatility rattled the markets on Monday after Russia and Saudi Arabia pledged to stabilize the saturated oil markets. Dollar weakness is still a key theme following August’s soft NFP report which dented expectations over the Fed taking action in September. The Sterling surged with ferocity following the string of positive UK data which questioned if the Brexit had any impacts on the UK economy. With Fed rate hike hops on a thin line, Gold bulls were on the offense sending prices back towards $1330.
• The #EURUSD remains under pressure below 1.1200
• The #Dollar Index challenges the 95.50 support
• #Gold bulls need to break above $1330
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