Markets recover as weak dollar boosts oil

Regarding the markets continuing recovery as a weak dollar boosts oil, Mihir Kapadia – CEO and Founder of Sun Global Investments, has said:   

Market recovery continues

“Global markets are continuing their recovery as traders regain confidence following the recent bout of sell offs and volatility. European markets have had a flat start to the week, following on from a rally in the Asian markets. US markets are closed for a holiday, whilst the dollar remains at recent lows against its peers. Earlier fears of rising inflation and the prospect of rising interest rates have subsided, although analysts will likely be keeping a watchful eye on the Fed Reserve minutes and several speeches from policy makers this week.”


Oil Markets strengthens

“The weak dollar has strengthened oil prices following a turbulent week for the markets last week. Oil prices rose close to a two-week high, also supported in part by the rebound in the global markets. OPEC and other producers including Russia are continuing to look at ways to continue the production freeze beyond 2018, but analysts remained concerned that their efforts could be undermined by the resurgent growth of US oil output. Although trading remains slow today, traders will see if oil will continue to see if prices are able to strengthen further.”