From an economic data perspective, the main focus on Tuesday will be the flash PMI readings from across Europe.
As it stands, investors still refuse to realistically price in the prospect that the United States will run out of money within ten days from now. This is because everyone is in on the act and aware that what is taking place within Washington at the moment is just a political drama. With that being said, it is not helpful to sentiment and the situation overall is bringing more uncertainty to the mind of investors when they are already puzzled over more than enough matters.
Oil prices find themselves stuck between a rock and a hard place when it comes to looking at potential risks for the remainder of the month. Oil very much is and will always be considered as a risky asset and this means that the probability of a risk-off atmosphere over the coming sessions will limit how much further Oil prices can stretch beyond $72.
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