Crude Oil gets pulled in both directions on Tuesday. A misfire in US PMIs spark fresh rate cut hopes. Risk assets get pumped higher as markets celebrate softening US economy. West Texas Intermediate US Crude Oil started Tuesday on the low side, falling below $81.00 per barrel before a broad-market recovery in risk appetite dragged barrel bids into a fresh high above $83.00.
US data is set to continue driving financial markets through the rest of the trading week. US Gross Domestic Product figures are slated for Thursday, where investors are expecting, or hoping, for US GDP for the annualized first quarter to ease to 2.5% from the previous 3.4%. On Friday, US Personal Consumption Expenditure Price Index inflation data will be released, which is forecast to hold steady at 0.3% MoM. WTI technical outlook WTI crossed $83.