Spreadex Market Update
Monetary stimulus continues for Federal Reserve
A median estimate of 32 economists in a Bloomberg survey suggest the Federal Open Market Committee will probably wait to taper its $85 billion a month bond buying programme at its March 18-19 meeting.
With the speculation the US will maintain economic stimulus, this helped the price of oil to rise with WTI crude trimming a sixth weekly decline. The rise in oil prices countered a surge in Crude inventories after data last week showing inventories rose more than triple the median.
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