U.S. crude fell in early Asian trading on Monday, easing from a two-week high, as investors awaited Chinese data expected to show a slight slowdown in the world’s second largest economy.
Chinese data including fourth-quarter GDP and industrial output is due at 0200 GMT. The economy is forecast to have grown by 7.6 percent in the fourth quarter versus 7.8 percent in July-September.
Risky assets including oil may be sold off if the Chinese GDP number comes in below market expectations, with Asian equities already trading slightly weaker.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015