Dollars and oil prices
Korea Investment & Securities
Again, the dollar and oil prices began to show negative (-) correlation
In general, dollar and oil prices have a negative correlation. However, the change in the dollar in 2016 and 2017 did not have a significant impact on oil price volatility. When the dollar and oil prices showed a positive correlation, oil prices were affected by the supply and demand of the crude oil market rather than macro factors. In other words, the impact of the dollar since 2016 was insignificant because of concerns over oversupply. However, recently, dollar and oil prices began to show a negative correlation. This is because the oversupply has been partially resolved, but in 1985 it is too early to predict oil price surge. However, unless concerns over oversupply rise as in 2014, the negative correlation between the dollar and oil prices is likely to continue for the time being.
Oil prices rose, while non-ferrous metal prices fell
With global stock markets rebounding and risk appetite increasing, US oil prices have gone up in seven weeks as US rigs have fallen. Gold prices remained flat as US wage growth slowed amid ECB's normalization of monetary policy. Non-ferrous metal prices have fallen as President Trump has signed duties on steel and aluminum.
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