Last week, the US dollar index and bond yields fell sharply after inflation indicators remained below expectations.
Publika.az reports that EUR/USD reached the highest level of the last three months. Today, while the dollar indicator settled below 107, the yield percentage of the 10-year government bonds of the United States also fell below 4%. If the pressure on the dollar index continues to increase, the EUR/USD exchange rate may rise to 1.05 levels.
Today at 11:00 Baku time, the labor market will be announced in England, GDP will be published in the Eurozone at 14:00, as well as the Production Price Index from America at 17:30 will be in the focus of investors’ attention.
Gold rose above $1,770 against the background of a depreciating dollar. According to the analysis, the price of the precious metal per ounce may rise to $1,790 if it can strengthen above the $1,773 level.
According to the monthly “Oil Market Report” of “OPEC” for the month of November, forecasts regarding the growth of global oil demand in 2022 were reduced by 0.1 million barrels per day to 2.5 million barrels. “OPEC” also reduced the oil demand growth forecast for 2023 by 0.1 million barrels per day to 2.2 million barrels. As a result, the price of oil on the international energy exchanges dropped again to $94. The price of one barrel of “Brent” oil, currently offered at $93.84, may drop to $91.60.
(İnvest.az)
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