Ed Moya – China’s Zero-Covid Policy Pressuring Markets, Oil Weakness, US Dollar Strength and A Fed Pivot Outlook
Ed Moya, Senior Market Analyst at OANDA joins us today to recap recent comments out of China reiterating the Country’s zero-Covid policy. This is being blamed for the broad market weakness and initial large drop in the oil price, down to $75/barrel. Oil has since rebound to around $79/barrel on the back of comments from the OPEC+ nations that they will not be increasing production.
Big picture, we discuss the US Dollar outlook that ties into Fed policy and future inflation data. Ed is still very much believing this is not a market ready to turn full on bull anytime soon.