Crude oil remains under pressure in European session as investors are cautiously awaiting the RBA and ECB meetings later this week. Weaker than expected inflation data released last Friday raised fears that the ECB would downgrade inflation estimates and the chance of rate cut is increased. Improvement in Australia’s housing market and retail sales, as well as a pickup in business conditions may allow the RBA to keep its powder dry in January.
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Sentiment Remains Cautious ahead of Central Bank Meetings
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