Hopes of Fed Rate Hike Diminished as ISM Disappointed
OJJLorrainUS dollar retreated as disappointing manufacturing data weighed on rate hike speculations. While a weaker greenback had lifted commodity prices, the lack of follow-through has left a mixed picture in crude oil and the precious metal complex. The front-month WTI crude contract initially rose to as high as 42.23 before ending the day at 41.85, up +0.48%, while the Brent contract ended the day in red for a 4th straight day.
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Hopes of Fed Rate Hike Diminished as ISM Disappointed
