European Session – Dollar and oil firmer after data; Sterling awaits Q3 GDP above $1.22
Posted on October 26, 2016 at 2:53 pm GMTWeaker crude oil prices weighed on market sentiment in Wednesday’s European session as energy stocks were dragged lower even as the dollar eased from yesterday’s near 9-month highs. Crude oil extended yesterday’s losses as investors grew sceptical whether major oil producers would be able to agree to significant measures next month that would help reduce the supply glut. Oil also came under pressure yesterday from Tuesday’s API inventory data that showed US crude stocks rose by more than expected last [..]