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The market appreciated the delay in the imposition of new US sanctions on China’s import. Thus, trade wars have a great impact on market assets.
Oil quotes managed to recover after previous losses. Brent benchmark returned to the area above $60 per barrel. Oil rally stopped near $61.40, and then the quote slightly dipped amid the news about a decline in the Chinese industrial production to its 17-year lows. This information is likely to remind investors about a looming slowdown in the global economy. So, the market is expected to turn back to bearish sentiment.
So far, oil prices are avoiding falling back to lows amid expectations of positive data from the US Department of Energy. The report is due today and anticipated to show a reduction of stocks. Notably, the American Petroleum Institute reported a decline of 2 million 190 thousand barrels in the US oil stockpiles.
Risk assets traders also seem to be getting back on track. Long positions on the emerging markets’ currencies get closed with fixing profit. Today the dollar/ruble pair started the day with a rise of 40 pips to 65.30. Yesterday, the Russian ruble gained 1.52% after the news regarding a delay in the imposition of sanctions on China’s import broke. However, the Chinese industrial production data pushed investors to close part of their buy deals on the ruble.
The ruble is likely to remain around its current positions. Meanwhile, we keep on monitoring developments in the financial markets. Subscribe to our channel and stay up to date with the latest information. See you!

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