Crude oil prices drop for second day on trade war. A monetary policy announcement from the Bank of Canada is in the spotlight. A change is not expected, with priced-in expectations implied in OIS rates suggesting markets put the probability of stasis at nearly 90 percent. Nevertheless, traders will keenly dissect the accompanying guidance as global headwinds gather and leading indicators suggest domestic growth is set to slow in the second half of 2019.
The US-China dispute continued to fester as Washington and Beijing haggled over resuming negotiations. Separately, the White House appeared to have threatened the Eurozone with a currency war. Meanwhile, August’s ISM data showed US manufacturing unexpectedly shrank for the first time in three years.
Authorities might weigh on the investors’ mood, making for another defensive session, that has scope to keep crude oil prices under pressure, though API inventory data might muddy the waters somewhat. A 3.11-million-barrel draw is projected.
#oil #trade #trading #invest #news #Forex #Canada #Dollar #currency
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade.
© 2000-2023. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Japan and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.