Key themes in oil and a split FOMC - ANZ
|Analysts at ANZ offered commentary on key themes.
Key Quotes:
" Oil prices continued to firm overnight, rising 2%, following a 5% lift the day before. Agreement across OPEC to curb production signals the end of a two-year pump-at-will approach; that’s moving from market forces to cartel based revenue maximisation. The canary in the coal mine remains agreement over how much each country will actually produce."
"US officials continued to echo the split on the FOMC over the timing of rate rises with Fed governor Powell saying he thinks the Fed can still be patient and gradual. Atlanta Fed President Lockhart said the bank is nearing maximum employment and inflation goal of 2%. Philadelphia’s Harker said policy-makers should raise borrowing costs. Kansas Fed President George thinks that rates should go up now."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.