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Major oil producers agree to freeze output

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    US stocks ended higher on Tuesday while oil declined despite an agreement between Saudi Arabia, Russia, Qatar and Venezuela to freeze output if others do the same. The dollar strengthened mostly due to weakness in British Pound. According to live dollar index data the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 1% to 96.621. The S&P 500 closed 1.7% higher at 1898.58, led by stocks in consumer discretionary and industrial sectors.

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