Oil, USD gains too tempting for topsellers to resist [Video]
Bashar al-Assad's regime fell over the weekend, Korean lawmakers prepare another impeachment attempt against their President who narrowly avoided removal after briefly imposing martial law last week, and France remains without a new PM nominee.
As such, the US dollar is stronger on safety demand and crude oil is better bid on renewed political uncertainty in the Middle East. But the Syrian news will unlikely reverse the bearish oil trend, and the rising dovish Federal Reserve (Fed) expectations are fundamentally supportive of a softer US dollar.
This week’s US CPI data will be the last piece of the puzzle before the Fed meets next week. The CPI number is expected to print a small uptick in November, but should not compromise a December Fed cut. January however will probably be a close call.
Elsewhere, the week will be packed with central bank decision. The European Central Bank (ECB), the Bank of Canada (BoC), the Reserve Bank of Australia (RBA) and the Swiss National Bank (SNB) will announce their latest policy verdict throughout this week and all – except the RBA – are expected to lower their rates.
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