Market Analysis

The dollar remains supported during early Wednesday

 

FOREX

The dollar remains supported during early Wednesday trading, despite the fizzling-out of some of the risk aversion that propelled it to multi-month highs during yesterday’s session. Fears over the resurgence of the virus continue to linger, especially in the Asia-Pacific region, but stocks in Europe and the US were in the green at the end of Tuesday’s session, rebounding from the lows of Monday. The fact that the safe-haven dollar is still on the front foot points at investors’ confidence in the strength of the American economy and the anticipation that the Fed will be tightening policies sooner rather than later.

Ricardo Evangelista – Senior analyst, ActivTrades

Source: ActivTrader

 

OIL

Oil is trading flat this morning appearing to have found support as risk appetite increases once again. This support comes after the pronounced falls registered during the last few sessions, which were triggered by apprehension over the impact the Delta variant might have on the speed of the economic recovery, as well as the agreement between OPEC+ countries to increase production.

Ricardo Evangelista – Senior analyst, ActivTrades

Source: ActivTrader

 

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