World oil prices are trying to recover
World oil prices grow slightly on Monday, while the growth rate declined slightly, and the EUR/USD is going up in the correction to the fall last week.
The growth of prices for oil on Monday has slowed amid concerns over the global economy against the background of growing trade conflict between the United States and China and threats of reduced demand for raw materials. The price of October futures for Brent blend at 15.40 moves near the mark of $ 59 per barrel. The dynamics of oil prices has allowed trader Forex Club to earn more than 10 thousand dollars per day in the price change of Brent crude oil.
From the decline in oil to hold the speculation about a possible reduction in the production of “black gold” in Saudi Arabia. On Saturday, the rebels attacked with the use of drones Saudi refinery and the shaybah field in the East of the country. After these events, investors are waiting for disruptions to oil supplies from the region.
The Euro is rising against the dollar, after falling 1% last week the Euro/dollar rises to the level 1,1101 dollar. The Euro has ignored the statistics from the Eurozone, according to which annual inflation in July slowed to 1% from the June level of 1.3%. Meanwhile, the market was expecting inflation at the level of 1.1%.
Further dynamics of the currency market will be determined by expectations about the speech of the head of the fed Jerome Powell this week, during which he can give signals about the possibility of lowering the base rate in the U.S. in September.