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Saudi Arabia to continue boosting OPEC+ precautionary efforts to support market stability

The Saudi Press Agency (SPA) reported that the Saudi Cabinet announced the Kingdom will continue boosting the Organization of the Petroleum Exporting Countries and its allies' (OPEC+) precautionary efforts to support the stability of the global oil market. 

Marker reaction: 

Crude oil prices rebounded modestly after the report, trimming only a small fraction of its daily losses. The price of WTI barrel is still down by around 2%, trading at $80.35, after briefly dipping below $80.00 earlier. Prices continue to exhibit a bearish bias, influenced by a deterioration in market sentiment.
 

Gold Price Forecast: Marked rise in yields sparked by rating downgrade a headwind to XAU/USD – Commerzbank

On Friday, Gold even dipped for a time to a 3 1⁄2-week low of $1,925 despite US rating downgrade. Economists at Commerzbank compare this situation wit
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USD/JPY prepares for a fresh upside above 143.50 ahead of key inflation data

The USD/JPY pair gathers strength around 143.00 for a fresh north-side move in the early New York session. The asset is expected to continue to rally
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