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Stock market rally despite oil deal collapse could reinvigorate US dollar at some point

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The collapse of the deal to freeze oil output at the Doha meeting on Sunday came as a big surprise to market participants, as major producers such as Russia and Venezuela had invested significant efforts and political capital into it. In the end, it looked like Saudi Arabia was still not on board, as they blamed their foe Iran for not signing up to the deal but this might have been just a pretext for the Saudis to keep the market oversupplied and not let high-cost producers catch their breath

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