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Anticipating the global economic recovery is driving oil prices higher – 03-06-2020

News Date: 3/6/2020 06:41:50

The US dollar fell Wednesday morning against most major currencies, and for this it fell against each of the sterling by 1.42%, to be traded at 1.25, and the dollar fell against the Swiss franc by 0.027%, to settle at 0.99624, After it was stable at 0.99622 levels, the US dollar pair also fell against the Japanese yen by 0.95%, this trading the price of the yen at 108.78 levels, the percentage change is 1.06.

While the Australian dollar prices rose to 2.48%, and its achieved its highest levels in nearly five months, and outperformed the US dollar, to be trading the currency at 0.68 dollars. The Euro also touched the peak of the rally and rose by 0,83%, the change rate was 0.0093, to be traded at $ 1.12.

There is no doubt that the dollar is affected by the conditions that America is going through today, and this was a factor in the fact that the dollar is what it is, while investors follow the developments of the situation and are biased to the levels of safety.

On the other hand, the Japanese indices rose, as the Nikkei 522 achieved the highest level, 1.3%, and stable at 22613.76 points, while the broader Topix index increased by 0.7% to 1599.08 points, as the stock indices rose European, such as the DAX 30, which grew 1.62%, and the FTSE 100, 1.11%.

Conclusion with the latest developments in oil prices. June delivery contracts for West Texas crude increased by 2.9%, equivalent to $ 37.87 a barrel, and Brent crude futures rose to $ 40.35, all in light of the global economic recovery.

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