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Market Recap – No OPEC+ in February

Tuesday, February 11, 2020 10:35 AM GMT

The OPEC+ emergency meeting, that was supposed to respond to the coronavirus outbreak and expedite the March meeting is not happening. Markets were hoping for an extra 600K Barrels reduction of daily production, on top of the cap that expires on March. Weirdly, oil did not accelerate its downtrend over this update.

The World’s Health Organization is having an additional meeting to the new coronavirus.

Democrats are voting in New Hampshire for their presidential candidate. Sanders is expected to win this state. Buttigieg is expected to come second.

Macro releases:  Today’s economic calendar includes UK GDP, UK manufacturing production and UK goods trade balance. All numbers are expected decreased, adding additional pressure on the GBP.

CopyTrade at ZuluTrade 

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The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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