FX.co ★ Oil and USD rise together

Financial market is showing a mismatch. The main currency pairs and futures are rising. In this case, Brent crude should drop. However, in reality, the price is confidently advancing after the recent decline logged on Monday.

Not so long ago, analysts predicted a slide in oil futures for May delivery. Now, it is obvious that these predictions will hardly come true. It seems that trades are expecting a further jump in the greenback. That is why they are trying to buy futures until the US dollar skyrockets.

Thus, at the end of the trading, a correctional movement is highly possible. By the evening, the oil market may stabilize and close with a drop to $68.24 (a level logged yesterday) or even lower.