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Oil rebounds on weaker US dollar

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    US stock markets advanced on Wednesday reversing early losses as oil rebounded. The dollar weakened after disappointing economic data strengthened the case for delay of Federal Reserve interest rate hikes. The live dollar index shows the ICE US Dollar index fell 1.7% to 97.95, the lowest level in three months. The Dow Jones Industrial Average rose 1.1% to 16336.66. The S&P 500 ended 0.5% higher at 1912.53, led by energy stocks which gained 4%. Exxon Mobil, the major US oil producer and Dow

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