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Crude Oil Testing Multi-Week Resistance on Positive Chinese Outlook

January 18, 2023

Via: DailyFX

China yesterday reported better-than-expected December growth figures, fueling thoughts that one of the world’s largest growth engines may be moving into a higher gear. While the data was still sharply lower than the prior quarters, GDP, retail sales, and industrial production all topped analysts’ expectations by a decent margin. The country’s reversal of its zero covid policy is driving thoughts that economic activity will increase across the board as supply chain disruptions ease.

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