Commerzbank’s commodity team, led by Barbara Lambrecht, notes that Oil volatility has risen as markets watch US–Iran talks and updated forecasts from the IEA, EIA and OPEC.
European Central Bank (ECB) Governing Council (GC) member Martin Kocher delivered remarks on the Euro (EUR) rate in an event organized by the Club of Economic Journalists in Vienna, Austria.
The Euro (EUR) failed to hold above 0.8700 against the British Pound (GBP) on Friday and pulled back to session lows near 0.8685 in the early European session. The pair, however, remains on track to close its first positive week in two months, fuelled by the ECB-BoE policy divergence.