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WTI Price Analysis: WTI clears daily gains amid a weaker USD, OPEC production cuts
The West Texas Intermediate (WTI) barrel cleared daily losses and traded neutral in the $85.50 - $86.00 zone near multi-month highs, benefited by a softer USD. The Greenback is trading weak against most of its rivals while investors digest Friday’s Nonfarm Payroll (NFP) figures. No relevant economic data will be released during the session, and the focus will shift to Wednesday’s ISM Services PMI figures from August. NFPs revealed that headline employment grew, but so did the unemployment rate, and wage inflation measured by the Average Hourly Earnings decelerated. Signs of the labour market cooling may ease the ... (full story)