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FOMC meeting looming

Top Daily News


FOMC Meeting looming

A few weeks ago oil-producing nations made a deal to cut output by 558,000 barrels a day. OPEC agreed late last month to curb output by 1.2 million barrels a day starting on Jan. 1. The reductions amount to almost 2% of global oil supply.

The Federal Reserve is widely expected to raise rates on Wednesday. Higher rates typically cause the dollar to strengthen. Rate increases also scare investors away from gold.