The economic calendar’s highly anticipated event, the Federal Reserve’s rate decision and outlook, is looming on the horizon with markets pricing in potential contractionary effects. Consumer sentiment statistics reported a drop yesterday from the 103 level towards 97, highlighting a drop in overall financial confidence. With bearish anticipations on the horizon, the demand outlook on WTI Crude Oil is in question, weighing down on oil prices. Another factor in the play is the crude oil inventory data later today, with higher expectations for supply levels between last week’s -6.4M change and this week’s -2.3M change. ... (full story)