Not much going on in foreign exchange today but oil is beginning to move.
WTI crude is at a session low, slipping below $91.The main worries stem from soft Chinese economic reports on the weekend and rising inflation.
Oil has struggled to definitively break below the 200-day moving average and the 61.8% retracement of the Dec- Jan rise.
It’s also important to note that the drop in oil prices hasn’t benefited the US consumer. Earlier today, gasoline prices rose to the highest since September.
