Hot Triggers: What to Expect in Global Markets in September? | ET NOW | India Tonight
August 30, 2023
Fed seen done with rate hikes after jobs data
September 1, 2023US crude futures gain for a seventh session, up 1.1% at $84.56 a barrel, which if maintained would be the highest closing price since Nov. 16. “Crude oil is higher with spot near $85 on bets the OPEC+ will continue with production cuts throughout September possibly extending to the end of October,” Spartan Capital’s Peter Cardillo says in a note. “However, we recommend selling at these levels as slower global economic growth is poised to weigh on global demand with China at the forefront.” The market awaits key US data on jobs and manufacturing. Brent also gains, up 1% at $87.73.
