Guangxi Longyuxi Bulk Commodity Consulting Investment Hotline Online Recruitment Agent Commission Daily Rebate Retail Account Opening Rebate Rebate Timely Market expectations that the Federal Reserve will soon raise interest rates have faded. After experiencing an extremely poor monthly non-farm payrolls, Federal Reserve Chair Janet Yellen's public speech on Monday failed to give the dollar any relief. The good times for bulls may be long gone. Despite this, are dollar bulls really at the end of their rope? At the same time, as inventories have been reduced for three consecutive weeks, concerns about supply disruptions remain and crude oil’s rebound is not over yet!
With a monthly interest rate hike almost impossible, the likelihood of action is also declining. The dollar trend remains dull. Investors need to see good employment data and signs of rising inflation before they believe in a possible rate hike, said Rabobank's senior currency strategist.
Fed Chair Janet Yellen gave a more dovish tone on the prospect of raising interest rates in the summer compared to recent comments from Fed officials. After last week's disappointing jobs report, she conspicuously did not use any guidance on Monday when discussing the timing of future policy action, such as the next few months or the middle of the year.
Although this further confirms that the Fed will remain on hold in March, Bloomberg Intelligence economists still believe that policymakers will raise interest rates at the March meeting. This forecast assumes a significant pickup in economic data later this quarter, including employment data. The monthly non-farm payrolls report, scheduled to be released on April 1, is now crucial.
Three major benefits! Oil price bulls are making a strong move upward
Today in the European market, the market expects crude oil inventories to fall and China's monthly crude oil imports to increase significantly. % International oil prices continue to soar. U.S. crude oil futures refreshed a nearly eight-month high of .USD/barrel. Lrent crude oil futures hit a near eight-month high of .$/barrel.
One of the positives: expected inventory decline
The American Petroleum Institute said on Tuesday that U.S. crude oil inventories fell by 10,000 barrels last week and were expected to decrease by 10,000 barrels. The U.S. Energy Information Administration will release official inventory data on Wednesday, Beijing time, and is expected to decrease by 10,000 barrels. The previous value was a decrease of 0.000 barrels.
Positive No. 2: Concerns about supply disruptions
Earlier forest fires in Canada triggered concerns about supply disruptions. Suncor Energy, Canada's largest oil company, announced on Monday that the company's output has been hit hard due to the suspension of equipment operations due to wildfires in northern Alberta. Although work has begun to resume, Suncor had to lower its annual crude oil production target by about .%.
In addition, concerns about attacks on Nigeria's oil industry have also triggered concerns about global supply disruptions, supporting the oil market. Nigeria was Africa's largest oil producer last year. The Nigerian government said it was launching negotiations with the Avengers. The Avengers group in Nigeria's Niger Delta has previously vowed to reduce the country's crude oil production to zero.
: International oil prices stood above the US dollar overnight, reaching the highest level. The US dollar continued to rise today. At the beginning of the US market, oil prices were affected by the weakening of the US dollar and once again moved upward, dragging the US dollar mark to the highest level. The technical aspect of the US dollar is the Bollinger Band on the daily line. The opening extends upward and the oil price runs above the middle rail of the Bollinger Bands. The upper resistance focuses on the upper rail of the Bollinger Bands. The short-term moving average of the U.S. dollar on day and night crosses the golden cross and rises. Continued weakening. From an hourly perspective, the moving average system is arranged in bullish positions. D The third line is in the overbought zone and is flat. Attached picture is D. The double line hooks upward and the red kinetic energy is increasing. On the whole, the current oil price is expected to continue its upward trend. The operation strategy is to callback and go long!
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