15.02.2019: Oil tries to hold at highs (BRENT, WTI, USD/CAD, USD/RUB)

Описание: Oil is trading at highs today. However, its growth is limited as everybody is looking forward to hear the latest news about the US-China negotiation.
The optimism regarding trade negotiation between the two superpowers remains. Nevertheless, traders are cautious due to fears that the agreement will not be signed before March 1.
This factor weighed down oil prices. The Brent benchmark dropped below $65 per barrel. Although, experts anticipate the downward correction to be minor.
The WTI crude oil is also sliding from highs. Analysts expect it to reach $54 per barrel soon. Market participants are awaiting the report from Baker Hughes. However, it will effect the movement of oil quotes only next week.
In the meantime, the commodity currencies are giving in to the greenback. The USD/CAD pair is trading above 1.3300. Though, it is likely to move sideways in the nearest time.
The dollar/ruble pair is trading at highs today as well. Still, it got a downward correction. The pair declined by 40 pips and settled near 66.60.
The Russian currency is not able to recover promptly amid the news that the Euro Union and the United States are ready to impose new sanctions on Russia, while the strengthening greenback is restraining the loonie. On the other hand, oil prices will be influenced by two factors at once – statistics and politics.

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