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Crude Oil Futures: Rallies seen faltering near-term

Open interest in Crude Oil futures markets went down by nearly 6.2K contracts on Wednesday according to advanced data from CME Group. That was the first pullback after five consecutive builds. In the same direction, volume shrunk for the second day in a row, this time by around 3.7K contracts.

Rebound in WTI seen as short-lived

Prices of the WTI are extending the bounce off recent 2020 lows in sub-$50.00 levels backed by OPEC+ headlines and the generalized risk-on mood. However, declining open interest and volume warn against the sustainability of the upside, which is also reinforced by recent ‘oversold’ levels in prices.

ECB’s Lagarde: Low interest rate and low inflation has significantly reduced the scope to ease policy

The European Central Bank (ECB) President Lagarde is on the wires now, via Reuters, testifying about the economy and monetary policy before the Europe
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Bearish bets on Singapore dollar climbed to highest in over five months – Reuters poll

According to the latest Reuters poll, investors turned bearish on most Asian currencies in a fortnight amid concerns over the economic impact of China
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