Crude Oil slides lower at the start of the week with traders writing off recent events as no game changer for the global Oil market. Overall, expectations are that Oil prices should get a lift this week, with Chinese measures boosting the demand for Oil in the region. On Sunday, additional measures were introduced by The People's Bank of China (PBoC) and the National Financial Regulatory Administration, with lower mortgage rates set to boost the housing sector.

The US Dollar Index (DXY), which tracks the performance of the Greenback against six other currencies, gears up for a week full of economic indicators on manufacturing and services activity and employment, ending with the monthly US Nonfarm Payroll release on Friday, although geopolitical tensions are the main theme. Tensions have been building up in Lebanon, where Israel kept bombing several parts of the country and might see Iran starting to get involved in the conflict.

At the time of writing, Crude Oil (WTI) trades at $67.68 and Brent Crude at $71.26.

Source: FXstreet