Crude oil prices appear to have found some stability during the last 24 hours after suffering some heavy losses since Friday. The decision by OPEC not to consider production cuts or announce a ceiling on output triggered another sell-off in oil and further declines could follow in the coming weeks.
Pacific trade ministers have reached a deal on the most sweeping trade liberalization pact in a generation that will cut trade barriers and set common standards for 12 countries, an official familiar with the talks said on Monday.
Overnight we saw several central banks meeting globally on the heels of yesterday's FMOC report. It featured a mixed bag of results with Brazil raising rates to curb inflationary concerns, Russia cutting her dramatically inflated rates aimed at currency support from 15% down to 13.5%, and Japan standing pat at her current monthly quantitative easing amount of 80 trillion yen.