Forex
ECB Rate Decision Looms as Oil Prices Skyrocket
The European markets and US indices are under pressure due to rising oil prices and elevated bond yields. This is causing risk appetite to wane, and investors are weighing the impact of these factors on their portfolios.
The German DAX will be in focus this week with the ECB's rate decision scheduled for Thursday. A hike in interest rates is expected, as rising oil prices threaten to re-accelerate inflation.
Crude oil prices have risen again, with WTI closing in on $95 per barrel and Brent near the key $100 level. The conflict in the Middle East is keeping concerns about supply disruptions high, which may lead to higher inflation.