Donald Trump
Crude oil WTI futures expiring in March dropped 1 percent to $71.70 a barrel.
U.S. President Donald Trump suspended tariffs on Mexico and Canada on Monday
When asked about the UK, the US president said that trade issues with the UK could be worked out
On Saturday, Trump levied 25 percent tariffs on Canadian and Mexican imports and 10 percent on goods from China starting February 4
The focus on oil prices increase highlights concerns over potential supply disruptions from Canada and Mexico
Attention focused on key U.S. PCE inflation data later today for clues on interest rates
Eurozone stagnation due to industrial recession leads ECB to continue its easing trajectory
Earlier in the session, gold prices hit an all-time high of $2,799.71
Fed signaled no rush in lowering borrowing costs until inflation and jobs data made it appropriate to begin another easing cycle
West Texas Intermediate crude futures climbed 0.3 percent to $72.81 a barrel
After cutting the benchmark interest rate a full percentage point last year, the Fed kept it in the current 4.25-4.50 percent range
