Author: AlbertaEhmann75

Energy prices remained firm as traders hoorayed the huge decline in US oil inventory. The market was also buoyed by the news that a number of OPEC members have shown enthusiasm, ahead of the meeting on May 25, in participating in the output cut extension. Rising for a second day, the front-month WTI crude oil contract gained +1.06% while the Brent contract was up +1.1%.

Originally posted here:
Energy Prices Firm, while Stocks Fell on Disappointing Earnings. Focus Turns to US CPI and Retail Sales

There’s further evidence showing slowdown in China’s economic growth. During the weekend, China’s official manufacturing PMI slipped to 50 in July down -0.2 point to 50.2 a month ago. This also came in weaker than market expectations of 50.1. The decline was driven mainly by deterioration in “new orders” which slipped to 49.9 from 50.1 in June and “production” which dropped -0.5 point to 52.4.

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China’s July PMI Shows Growth to Deteriorate Further