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Fed Decision Day | Oil Prices Extend Declines

Published September 18, 2019

  • The Federal Reserve will conclude its scheduled two-day policy meeting on Wednesday and will issue its decision for the federal-funds rate at 2:00 pm ET. The FOMC is expected to cut rates by another 25 basis points at today’s meeting.
  • Iran has sent an official warning through Swiss diplomats to the US that any action taken against Tehran will face an immediate answer, its state-run news agency reported on Wednesday, further raising Middle East tensions. WTI oil prices were trading lower at $ 58.19 a barrel this morning.
  • Canada’s annual consumer price inflation slowed to 1.9 percent last month from 2 percent in July after consumers paid less for gasoline and vegetable prices dropped, Statistics Canada said Wednesday. The Canadian dollar was trading slightly stronger – at 1.3248 levels – after the release.
  • The UK Office for National Statistics reported that UK CPI came in at 1.7 percent against the expectation of 1.9 percent. Meanwhile, the core inflation gauge arrived at 1.5 percent against the consensus forecast of 1.8 percent.