Oil prices inch lower ahead of Fed meeting, soft Chinese economic data weighs
Investing.com-- Oil prices were marginally lower in early Asian trade on Tuesday, a day after soft economic readings from China dampened sentiment, while traders were cautious ahead of a U.S. Federal Reserve policy meeting later this week.home prices
These indicators raise concerns for the oil market, as China is the world's largest crude importer. The slowdown in retail sales reflects fragile domestic demand, potentially dampening energy consumption. Additionally, the modest increase in industrial output suggests that manufacturing activities are not robust enough to significantly boost oil demand.this week, where the central bank is widely expected to trim rates by 25 basis points but also flag a slower pace of cuts for 2025.
This cautious sentiment is also contributing to the current softness in oil prices, as traders await clearer signals from the central bank's upcoming meeting.
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