West Texas Intermediate (WTI) crude oil prices continued their upward trend, trading near $60.00 per barrel during the Asian session on Monday. This marks a second consecutive day of gains, driven by increasing optimism surrounding a potential resolution to the US government shutdown. As the world's largest oil consumer, any progress in Washington is seen as a boost to future demand, positively impacting the crude market.
The rally in oil prices comes at a time when traders are closely monitoring the implications for the USD. A stable government could lead to a stronger dollar, affecting currency pairs such as EUR/USD and the exchange rates of emerging market currencies. With oil prices hovering around this key resistance level, market participants will be watching for further developments in US fiscal policy that could influence trading strategies in the coming days.
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Data Source: Yongxianli Analysis Team Updated: 2025-11-10 03:07
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.