The oil market will put pressure on the dollar

24.02.2021

Tonight, the US Federal Reserve will increase the volume of transactions in the Treasury bond market by 1.5 times, which may cause a short-term weakening of the dollar. The maximum volume of Treasury purchases this week is scheduled for Friday. Additional pressure on the dollar may come from the oil market, where we can expect the release of positive data from the US Department of Energy.

US oil inventories are now below the five-year average, and this figure will continue to decline insofar as cold weather in Texas caused a decrease in hydrocarbon production in this critical region for the US oil market.

Investment idea: Buy 1.4125/1.4095 and take profit 1.4193.