The US economy appears to be heading towards one of its worst quarters in recent memories, But amid signs that PMI readings are stabilizing in Europe and North America, relative to the backdrop of a hopeful resolution to Phase 1 of the US-China trade war deal, it seems that traders are otherwise treating disparaging economic data as red herrings. As traders remain distracted by the impeachment hearings, signs that the US-China trade negotiations are on uncertain ground has seemingly been ignored. For Me oil it's a short for now
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