Two events created volatility in the financial markets last week. The first was the release of the U.S. Federal Reserve minutes for its July meeting. The second was the release of a weak report on Chinese manufacturing data.
CRUDE OIL:
Crude oil broke the psychological $40 level plunging $1.23 in the morning session with WTI touching 39.22 getting no support on from the declining US dollar.
CHINA ECONOMY:
To bolster the Chinese economy, the People's Bank of China is preparing to flood the banking system with liquidity to boost lending, the Wall Street Journal reported, citing officials and advisers to the central bank it didn't identify.
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