Mixed signals
OPEC's output has fallen to a 36-year low due to war-related disruptions, which is likely to push oil prices up over the next few days. This oil spike could lift gold (XAUUSD) as an inflation hedge and safe haven, but it may also weigh on stock markets like the S&P 500 by squeezing corporate margins. There's a chance the Canadian dollar strengthens against the US dollar (USDCAD) as a petro-currency, while the Japanese yen (USDJPY) could weaken due to Japan's oil import dependence. If you're watching commodities, keep an eye on crude oil and gold this week.
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