Crude remains under pressure on weak Chinese data | MarketTalk: What’s up today? | Swissquote

Show notes

We are heading into a busy week with major central bank decisions. The Federal Reserve (Fed), the Bank of England (BoE) and the Bank of Japan (BoJ) will announce their latest policy verdicts this week. The Brits and the Japanese are expected to remain seated on their hands and the Fed will certainly lower its rates this week. But by how much – is the million-dollar question!
Wagers for a 50bp cut are rising into Wednesday’s decision, the US yields ands the dollar are under pressure, gold advances through uncharted territory but oil investors are hard to cheer up. The weak Chinese data continues to support the sellers’ hand and keeps the barrel of US crude offered below the $70pb level.
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