Correlation between the British currency and oil | 11 11月 2020

11 11月 2020, GBP/USD

Correlation between the British currency and oil

GBPUSD trading plan:

A bullish rally in the oil market will have a positive impact on the value of the British currency, as assets are correlated with each other. Crude inventory dropped 5.1 million barrels, against expectations for a draw of 900,000 barrels, according to the American Petroleum Institute. It's the second big draw in a row. During the week before, crude inventory fell 8 million barrels. Weekly government data will be released later this week. The news from Pfizer and its partner BioNTech, that data from their phase III trial suggests their vaccine is “90% effective in preventing Covid-19” prompted a rush into oil.

Trading recommendation: Buy 1.3270 and take profit 1.3310

David Johnson
Analyst of «FreshForex» company
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus