Oil prices recovered ahead of ECB meeting as investors forecast policymakers would, in addition to cutting interest rates, announce a series of measures to stimulate growth and ease the dry-up of liquidity. Yet, the market remained cautious as the ECB staff will probably revise lower GDP growth for 2012 and 2013. Moreover, risk appetite was also tamed by the overhang of the EU summit.
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Cautiousness Remains ahead of ECB Meeting
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