The price of WTI Crude Oil jumped on Friday before going into this weekend and finished near 61.290, which in the historical scheme of things still represents a rather cheap value for the commodity.
A weekly outlook on major markets including gold, currencies, Bitcoin, and equities with clear technical insights.
It was a rough week for the US Dollar (USD). Indeed, the US Dollar Index (DXY) not only gave back all its gains for the year but also slid all the way down to four-week lows below the 98.00 mark.
Once again, geopolitical woes were at the top of the list of market movers, and the outcome was not good for the US Dollar (USD). The Greenback was hit by uncertainty triggered by United States (US) President Donald Trump’s decisions.
Gold (XAU/USD) started the week on a strong footing and gathered bullish momentum, reaching a new record-high of $4,967 in the Asian session on Friday.
The US dollar remained quiet against the Mexican peso on Thursday, with the carry trade favoring downside momentum and the 17.50 level offering support.