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- Asian session review: USD sold at the start of the week
Asian session review: USD sold at the start of the week
Among the events of the weekend, Saudi Arabia has refused to take part in the scheduled meeting of OPEC+, including Russia. Yesterday, the energy Minister Khalid al-Falih said that the oil market will balance by a natural way in 2017, even if the producers did not intervene, and therefore to maintain the current level of production can be justified. This statement has increased doubts about the achievement of productive arrangements to cut oil production at the OPEC meeting on Wednesday.
The US dollar fell sharply against all major currencies against the backdrop of profit taking after a strong US dollar exchange rate over the past three weeks. According to the futures market a Fed hike has 93.5% probability so dollar gains caused by rate hike pricing can be limited.
EUR / USD: during the Asian session, the pair rose to $ 1.0685
GBP / USD: during the Asian session, the pair rose to $ 1.2530
USD / JPY: fell to Y113.35
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