Was Powell’s speech a bullish gamechanger? No, oil update – another bearish report, the unexpected Winner from Powell’s Speech (Yield Curve), today focus will be on economic data, and the most important report will be the Core PCE Price Index (E: 1.9%). and more.
Help your clients outperform markets with The Sevens Report. Get a free two-week trial—start today. Oil trade over the last week was a classic case of “buy the rumor, sell the news,” as the speculative rally that carried WTI up to the $52 mark came completely unwound yesterday after OPEC announced that they would extend[…]