Brent Oil eyes 50% Fib, further yield curve steepening & USD strength likely

Daily chart

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50% Fib hurdle is seen at $49.49. Gains in oil prices would push US 10-yr breakeven rate (long-term inflation expectations) higher and lead to steeper yield curve, which is positive for the USD.

For USD/JPY it could mean 113.42 (symmetrical triangle hurdle)

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