Commodity markets are awaiting meetings of the us Central Bank (the fed), the outcome of which will depend on the further increase in oil prices, says Deputy Director of the analytical Department of “Alpari” Anna Kokoreva.
As the author says, “the price of Brent crude oil (June contract) is adjusted slightly down, facing the resistance level at $46 per barrel.”
“The oil market is a temporary lull due to the absence of growth factors. Passions around (April) meeting (leading countries-oil producers) in Doha subsided, remained dry statistics. This week will be a meeting of the U.S. Federal reserve, the outcome of which will depend on the further growth of prices for oil and other raw materials, nominated in dollars”, — govorit in the comments Kokorevo.
In her opinion, “the fed will leave rates unchanged and will continue to hold fairly loose monetary policy”. “The absence of a strong framework for increasing rates will allow the dollar to continue its decline, and oil prices grow,” suggests the analyst.
In addition, she recalls, “during the week will be published data on commercial oil reserves in the United States and the number of rigs in the fields.” “Statistics will have a short term impact on the prices”, — the expert adds.
