Forex and other markets news
6.03.2023, 16:39
The price of WTI crude oil dropped this morning.
The price of WTI crude oil dropped this morning.
Reuters reports that in trading this morning WTI crude futures were down 46 cents, or 0.6%, at $79.22 a barrel. and Brent crude futures fell 50 cents, or 0.6%, to $85.33 a barrel.
China's economic growth outlook is down from last year's target of 5.5 percent and is at the low end of the forecast range. A policy source told Reuters earlier that China may set GDP target as high as 6%
Prime Minister Li China's Keqiang said on Sunday it was necessary to strengthen its foundation for steady growth in China. Demand is still a clear problem. And the expectations of private investors and the business sector are uncertain.
meanwhile Oil prices are likely to be affected by global interest rate hikes. As central banks around the world tighten monetary policy amid growing concerns about inflation.
However, traders have begun to adjust to rising interest rates around the world. But it is hoped that the rate hike will be less than last year.
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