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Crude Breaks Out As China Announces Fresh Econ Support

From tickmill.com

Crude prices were seen breaking out to their highest levels in over 3 months yesterday. The rally came amidst the broad uptick in risk appetite we saw in response to the Chinese Politburo. With Chinese leaders once again promising support for the economy. While the statement read out on the back of the meeting fell short of promising a much-anticipated fiscal package, traders were encouraged by news of smaller measures including an easing of restrictions in the property sector. Speculation of a forthcoming stimulus package from the Chinese government has been a key market focus point this year and has at time helped ... (full story)

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  • Category: Fundamental Analysis