World Market News of the 8 February with FXOpen #btcprice #btcpricetoday #oilprices

China Oversupplied With Commodities as Deflation Persists China’s commodities markets are heading into the Lunar New Year break on a glum note, with deflation embedded on both the consumer and producer sides of the economy. Agricultural goods were at the forefront of the steepest decline in consumer prices since 2009, according to Bloomberg Economics, after the fall in food costs widened to 5.9% year-on-year in January from a 3.7% drop in December. The outlook for pork, which has a heavy weighting in the basket of goods measured, is particularly gloomy. Grain markets face similar issues around oversupply after last year’s binge on imports. Source: Bloomberg Oil Rises in Choppy Session Oil edged higher in a choppy session as traders weighed a mixed US inventory report, with algorithms exacerbating price swings. West Texas Intermediate rose 0.8% to settle slightly below $74 a barrel after oscillating in a narrow $1 range. Prices briefly rallied above $74 a barrel,