Oil fell to near the lowest since September as weak economic data from China compounded a dour outlook for demand. Brent crude traded near $70 a barrel, while West Texas Intermediate was below $67 after seven weeks of declines. China's consumer inflation dropped by more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the world's biggest crude importer. Crude has been hit by a confluence of bearish factors, including an escalating global trade war, plans by OPEC and its allies to increase production, and talks to end the...
Brent crude oil futures dropped to around $69.9 per barrel on Monday as weak economic data from China and uncertainty over U.S. tariffs fueled demand concerns. China's consumer prices fell for the first time in 13 months, while producer price deflation persisted, underscoring deflationary pressures in the world's largest crude importer. Oil remains under pressure as President Trump's shifting tariff policies raised concerns on economic growth and energy demand. While Trump eased some tariffs on Mexico and Canada until April 2, Canada's retaliatory tariffs remain in place, and China's...
The Australian Dollar (AUD) rebounded on Monday, recovering losses from the previous two sessions against the US Dollar (USD). The AUD/USD pair's upward movement was primarily driven by concerns over a potential slowdown in the US economy. The Aussie Dollar also received support from stronger-than-expected GDP growth and trade data from Australia released last week. On the monetary policy front, the latest Reserve Bank of Australia (RBA) Meeting Minutes indicated caution regarding further interest rate cuts, clarifying that February's rate reduction does not signal a commitment to...