Crude remains under pressure on weak Chinese data [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

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.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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