Source: The market will be closely watching oil price trends, but supply is expected to remain largely unchanged in the short term.
Sean Callow, senior foreign exchange strategist at InTouch Capital Markets, said that with the U.S. military having successfully captured Venezuelan President Maduro, markets will first focus on oil price movements this Monday. This reflects U.S. President Donald Trump’s high priority on restoring Venezuela’s crude oil production. However, Callow noted that there will not be significant changes in oil supply in the short term.He also pointed out that the possibility of the Donald Trump administration using this as a pretext to take action in other regions could trigger greater uncertainty. The Mexican peso and Colombian peso may face greater volatility, while Denmark is attempting to quell new speculation regarding U.S. actions in Greenland.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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