EncoreFX’s daily market updates are written by our experienced and professional dealing team.
• President Donald Trump said the Federal Reserve has held back the stock market and the economy, claiming that the stock market and GDP would be improved if the Fed had done its job properly.
• WTI oil prices dropped as investors weighed mixed signals on global supply and signs that Russia may exit coordinated production cuts by nearly two dozen nations. WTI crude prices have hit a low of $63.14.
• The Loonie edges higher against the US dollar with the pair is trading at 1.3302, down 0.18% on the day. Market will now focus on Bank of Canada business outlook survey report which is scheduled to release later in the day.
• The International Monetary Fund Deputy Managing Director David Lipton warned governments not to rock the boat with trade wars and other disruptions at a time when the global economy is already sailing through choppy waters.
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