Brent. April 12, 2021 | Oil rises moderately at the start of a new trading week Brent crude oil continues to trade above $63 per barrel. The current quotation of the asset is $63.80 per barrel. Today, oil prices have started to rise on optimism about the recovery of the US economy, but the new wave of Covid-19 in Asia is limiting the rise in quotations. In the United States, about 70 million people have already been vaccinated, and in Europe, after tightening restrictions, the number of new cases of the disease has declined. At the same time, a record number of cases are recorded in India and other Asian countries, which will prevent the restoration of world tourism in the near future. This week, traders will be presented with monthly reports from OPEC and the International Energy Agency. They are expected to report on the growing demand from the global economy. Against this background, Brent crude oil may resume its upward movement and go above $64 per barrel. Last week, the IMF released a forecast that global GDP will grow by 6% this year, which is the fastest pace in 40 years. Traders predict that in the 2nd half of 2021, demand for hydrocarbons will increase and be able to offset the latest OPEC + decision to increase oil production by 2 million barrels between May and July. EUR/USD. April 12, 2021 | Euro rebounds on strong retail sales data The European currency is growing on Monday, breaking above the level of 1.1900. The current quote for the EUR/USD pair is 1.1915. The euro was supported by data on retail sales in Europe. The index in February increased by 3% compared to January, while the expected growth of 1.5%. Earlier last week, a report on industrial production for February was released, which put pressure on the euro. The indicator fell 1.6% m/m, while the market was expecting a 1.6% m/m gain. A month earlier, the index was down 2.0%. The USA on Friday presented the March producer price index, which rose 0.7% against the forecast of a rise of 0.2% m/m. In January, the indicator grew by 0.2% m/m. Today, the US is to release statistics on the execution of the federal budget in March, but this data is not reflected in any way on the exchange volatility. But the comments of the chairman of the US Federal Reserve System Jerome Powell may attract attention.