Cautious on Crude, Westpac's Rennie Says

The video discusses the impact of OPEC+ decisions on crude oil markets, highlighting the influence of low liquidity during the US Independence holiday. It examines the strengthening US dollar and its effects on crude prices, considering the US jobs market and potential Fed tapering. The analysis extends to the Australian dollar, exploring its deviation from commodity prices due to factors like China trade tensions and RBA policies. Finally, the video addresses global economic divergence, emphasizing the uneven recovery from the pandemic and its implications for energy and FX markets.

What event coincided with the third attempt by OPEC+ to reach an agreement?

• US Independence Holiday

• Thanksgiving

• Christmas

• New Year's Day

What is the expected range for crude oil prices according to the discussion?

• $80-$85

• $75-$80

• $70-$75

• $60-$65

What is the anticipated movement of the U.S. dollar during the Northern hemisphere summer?

• Fluctuating

• Staying the same

• Strengthening

• Weakening

What is the expected impact of the U.S. jobs situation on the dollar?

• No impact

• Weakening the dollar

• Strengthening the dollar

• Causing fluctuations

What factor is NOT mentioned as affecting the Australian dollar's value?

• Trade tensions with China

• RBA's monetary policy

• China credit pulse

• U.S. interest rates

What is the expected action of the RBA regarding bond purchases?

• Maintain current level

• Stop purchases

• Increase purchases

• Decrease purchases

Which regions are expected to experience increased economic divergence due to vaccination rates?

• All of the above

• African economies

• Western economies

• Asian economies