With slumping prices in the commodity markets, Michael Hewson takes a look at the potential for a bounce in crude oil futures and the likelihood of ECB QE being announced on Thursday.
  • Speculation over additional stimulus from the ECB and the PBoC has boosted US stocks and the DAX, though Michael believes that ECB QE remains unlikely at the this stage
  • Some are calling for Brent crude to drop to $40 per barrel, though support remains at $67.50 and we saw a key reversal pattern which may provide a short-term base
  • USD/JPY may struggle for further gains as it targets ¥120 as we reamin hugely above its 200DMA, with US jobs data on Friday expected to be key
  Video content by Michael Hewson of CMC Markets.