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The oil-dollar pair dove by 2.3% in the last session. The Commodity Channel Index (CCI) is giving a negative signal.
The Aussie dollar pair fell by 1.3% following a 1.7% intra-session dip. The Williams Percent Range indicator is giving a positive signal.
The euro-dollar pair fell by 0.8% in the last session. The CCI indicates an oversold market.
The dollar-yen pair saw a minor dip of 0.1% in the last session. The MACD is giving a negative signal.
Oil prices settled more than 2% lower last week as traders grew less fearful of prolonged supply disruptions in the US Gulf of Mexico. Meanwhile, China's latest economic stimulus packages failed to impress some oil traders. China's consumer prices rose more slowly in October, while producer price deflation deepened, even as Beijing doubled down on stimulus policies. China unveiled a 10 trillion yuan package to ease local government hidden debt burdens rather than directly injecting money into the economy. Investors will focus in the coming week on whether inflation trends can help sustain the record-breaking stock rally that has received a boost from Donald Trump's victory in the US presidential race. The benchmark S&P 500 surged to an all-time high and hit the 6,000 level for the first time.
Key economic events to look out for include:
