Oil gives up 2% gain
The market looks like it's getting worried about the Fed.
A trade deal with China is good news but if it means only one Fed cut instead of four, then it's a net negative.
The market is trying to balance it all out right now and the initial enthusiasm on trade is beginning to lose out. Another worry is that the trade war isn't over and that it will pivot towards Europe. Do you want to be stuck holding risk trades when that happens.
Oil is a good barometer because it's not too mixed up in the dollar trade. With some clarity on OPEC for nine-months there is also a better view on supply. It hit a five-week high early but it's now given it all back.
