November 30 – December 4, 2020. Activity at the beginning of the week

2020-11-29

An OPEC + meeting will take place in the near future. From him who is expected to make further decisions on oil production quotas. The meeting will show how true the rumors about the conflict between Saudi Arabia and the UAE were.

The coming week will open the season for active buying of stocks. Therefore, the growth in the value of commodity assets and major currencies in the Forex market is expected.

A factor influencing the growth of European currencies since the beginning of the week may be progress in the Brexit negotiations. There is less time left to conclude an agreement, which increases the likelihood of both good and bad news. Dollar purchases will dominate on Monday to win back the news of Donald Trump’s agreement to leave the White House. The outgoing president at the end of the week gave public guarantees to accept the results of the electoral vote, which greatly facilitates the consolidation of Biden’s status as the winner of the election.

A rise in the dollar may be a short-term event, with traders ready to buy major currencies over the next week ahead of news about additional Fed stimulus. The downturn in job creation will leave no option other than a weakening dollar.