Video: Euro Faces Another Round of Data, Oil Collapses
• Though the traditional 'risk' benchmarks didn't show extraordinary volatility, the theme is bending
• Top market mover status this past session goes to Oil which collapsed over 8 percent after an OPEC meet
• Monetary policy is still the most effective FX theme heading into Friday and going into next week
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Holiday conditions in one region of the global financial system does not mean volatility and trend development is disarmed. Oil proved the markets are still very active with a dramatic tumble - the largest in four years - after it was known that OPEC decided against production cuts to help turn a six-month downtrend in energy prices. Turning this view on sentiment, cheaper energy prices don't necessarily mean to improved forecasts for economic activity or capital market performance. In fact, this news alongside an ECB commitment to more QE and a move by China to boost its support effort failed to charge sentiment trends and the markets sensitive to them. We discuss what to watch in the final 24 hours and through the weekend in today's Trading Video.
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