Rising oil prices reinforce inflationary fears

Macro-economy
June 1, 2021

Brent prompt prices are above $70/b ahead of the OPEC+ meeting (see the Daily Oil), which pushes inflation expectations and bond yields higher. Gold prices are on the rise too. The equity market resists well, as in parallel, activity is strongly recovering in the US, Europe and China. The euro posted gains vs the USD yesterday after higher inflation figures in the main countries of the euro area for which data will be released today. The EUR/USD exchange rate is back above 1.22.

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Rising oil prices reinforce inflationary fears

You might also read :

No rebound in the euro as long as slow vaccination campaigns cloud recovery prospects

Asian weakness in fuel oil markets

Fundamentals likely dwarfed by bond markets inflows

Simplifying energy markets