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Crude oil and gold prices fell sharply on Thursday as solid US economic data bolstered the case for a hawkish Fed. Heading into the weekend, traders are eyeing University of Michigan Sentiment.
The crude oil price have been stable as the market braces itself for the crucial US CPI number later today. If inflation misbehaves, will a Treasury rout hit WTI?
The crude oil price is back to levels not seen since before the Russian invasion of Ukraine as inventory increases and hopes of added production ease supply woes.
The US Dollar mostly held onto overnight gains as the market jockeys for position ahead of the Fed decision later today. Will a hike boost USD to sink WTI?
Crude Oil and Copper are trading higher as hopes of stimulus from China mutes the bearish move. Commodity prices remain vulnerable to changes in economic outlook.