Crude oil prices consolidated into the week as the US Dollar appears vulnerable with debt ceiling uncertainty lingering and the possibility of the Fed being less hawkish. Lower WTI?
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Crude oil prices consolidated into the week as the US Dollar appears vulnerable with debt ceiling uncertainty lingering and the possibility of the Fed being less hawkish. Lower WTI?
from DailyFX – Market News https://ift.tt/DSw3Iiv
via IFTTT
US debt ceiling talks are likely to dominate sentiment after some of the optimism scaled back after reports on Friday that debt ceiling talks have hit a roadblock. Fed speak is expected to continue after mixed remarks from officials last week – some called for a pause while others pushed for more rate hikes. Powell, however, on Friday left the door open for a pause.
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US Indices continued their rise this week as large cap Tech stocks continue to lead the way. There are key technical hurdles ahead which begs the question, can the rally continue?
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EUR/USD looks to key US economic data for guidance after a dovish Powell pushed the euro back above 1.08 against the dollar.
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Market sentiment, and price action, will be dictated by ongoing US debt ceiling talks and the latest US and UK inflation reports
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