FXStreet (Delhi) – Research Team at Investec, suggests that after a torrid start to the year for Oil prices, Emerging market currencies, and Stock markets, last week saw a catalyst for some retracement.
Key Quotes
“ECB President Draghi left the door open for further policy easing in March when the ECB will review their policy stance, while Chinese authorities have pledged to look after stock market investors through further interventions. This combination of potential stimulus was enough to see oil prices rise $5 a barrel amid short covering, while some of the bigger currency losers so far in 2016 saw a sharp rebound including the Canadian Dollar, South African Rand, and the Pound. Positioning and sentiment continue to be dominant factors in financial markets.”
(Market News Provided by FXstreet)