WTI Crude Oil finished the week of trading near $58.435 going into this weekend, this as trading volumes increased following the holidays and international news from major suppliers pervaded.
Weekly market outlook highlighting price action and key levels in gold, silver, oil, forex pairs, NASDAQ 100, and USD/MXN.
The US Dollar (USD) maintained the optimism seen at the start of the year, rising for the second week in a row, as markets assessed the mixed US labour market report in December and prepared for the publication of vital US inflation data next week.
The EUR/USD pair started the new year with a soft tone, falling for a second consecutive week to settle around 1.1640, its lowest in a month. The US Dollar (USD) stands victorious across the FX board, backed by geopolitical uncertainty and pretty solid United States (US) employment data.
The Pound Sterling (GBP) witnessed a steep correction against the US Dollar (USD), sending GBP/USD down from four-month highs of 1.3568 to test the weekly low near 1.3400.