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Will Brent Show More Growth in 2020?



After bouncing off the 20-day moving average ahead of the long Christmas weekend, Brent finished the shortened week unchanged after seven weeks of gains. In early trading on Monday, quotes traded with a slight downward bias, oscillating around the $ 51 a barrel mark in anticipation of fresh drivers. The risky segment began the new week with gains, playing back the signing of Trump’s fiscal stimulus package and the budget for 2021, which avoided a shutdown. The move reduced uncertainty and pushed stocks north. However, oil has refrained from a similar reaction due to players’ concerns about a new strain of coronavirus after South Korea announced the detection of the new virus in three citizens who arrived from Britain. The situation with a mutation of the virus and doubts about the effectiveness and rate of vaccination are holding back the growth of black gold by amid vague prospects for a recovery in global energy demand. In the coming days, trading activity in the commodity segment promises to be low as liquidity on global exchanges decreases due to the approach of the New Year holidays. Moreover, some of the traders who left the markets before Christmas will not return to the game until the end of the holidays. Against this background, we can expect Brent consolidation with a modest amplitude. On the other hand, in case of important news, sharp short-term price fluctuations in one direction or another are possible. The main benchmark for futures is now the $ 51 mark .____________________ Arseniy Dadashev, Director, Academy of Finance and Investment Management

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