The Canadian Dollar brushed aside crude oil production cuts from Saudi Arabia as OPEC+ members struggled to reach a broader agreement, causing WTI to fill a 4% gap within 24 hours.

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S&P 500 rises at the start of the week, reaching its best levels since August 2022, but caution is warranted with prices approaching a major Fibonacci resistance area and the market getting stretched.

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OPEC’s meeting on Sunday was met with resistance by the Saudi’s, lobbying for more production cuts to resuscitate oil prices. Saudi Arabia to remove 1 million bpd

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The U.S. dollar takes a turn to the downside and erases session gains as weak services PMI data strengthens the case for a Fed pause

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USD/ZAR up almost 0.90% ahead of the US trading session now hovering around a key area of confluence as the rand looks to restore some credibility.

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