Oil Rises on Chinese Growth

West Texas Intermediate crude advanced after economic growth accelerated in China, the world’s largest oil-importing country, and on speculation that economic stimulus will continue in the U.S.
Futures rose as much as 1 percent as China’s gross domestic product expanded 7.8 percent in the July through September period, halting a two-quarter slowdown. Federal Reserve Bank of Chicago President Charles Evans said yesterday that the U.S. shouldn’t curb stimulus after a 16-day government shutdown. The U.S. is the second-biggest oil importer, according to the country’s Energy Information Administration.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza