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Crude Oil Prices May Rise in Risk-On Trade, Gold Eyeing US CPI

From dailyfx.com

Crude oil prices rose alongside stocks as risk appetite firmed across financial markets, boosting cycle-sensitive commodities. Gold prices likewise traded higher as despite an uptick in bond yields as the US Dollar retreated, boosting the appeal of anti-fiat alternatives. Looking ahead, the monthly IEA Oil Market Report may echo ominous cues in analogous EIA and OPEC publications yesterday. Both projected further US output gains and ebbing energy demand (although the former foresaw a narrow rise in uptake for liquid fuels). Meanwhile, official DOE inventory flow data is expected to show stockpiles added 1.6 million ... (full story)

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  • Category: Fundamental Analysis