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AUD/USD renewed 3-day high at around 58,59. However, failed to show more significant strengthening. And at the end of trading day oil started falling. This could be the reason for the sharp rise of the pair up at the opening of trading on Thursday.
in addition, recall that November 30 will be a meeting of representatives of OPEC, which the market expects to extend the agreement. It is at the optimism on this occasion, Brent reached the level 64,64 USD./Barr. at the beginning of November. But now the market has come a doubt – what if something goes wrong. That is why even after a positive report of the US Department of energy, confirmed a sharp decline in oil reserves by 3.4 million barrels last week, Brent slid into the district accounting period 61.92. And on Thursday, around 60 dollars./Barr. can be easily passed.
In such circumstances, the USD/ RUB is likely to continue the upward correction with the immediate goal at around 58,70, and further of 59.10.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee results.
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Not found economic events 2017-11-30 on 2017-11-30
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