The picture is not promising for Crude Oil Bulls. The main problem is the Global Oil Demand.

EURAUD remains under selling pressure despite mixed Mixed Australian Macroeconomic data and latest Jobs Report on Thursday. Two key issues will determine the medium-term direction of the pair.

Market players focused on the FOMC Meeting and the FED’s interest rate decision in July.

BoC kept the interest rates benchmark unchanged and injected a maple dose of dovish rhetoric into the market. Meanwhile; the Fed is prepared to cut interest rates soon despite record stock prices, low unemployment and core inflation above 2.0%.

Latest NFP and Job Reports reduce the expectations of rate cut circle. “One and done” 25bp cut may add weight on indices.