Oil markets excited by PBOC interest rate cut this morning and injected US$10.6 billion of liquidity into the banking system. The rest of the market awaits more PBOC love

China's central bank, the PBOC cut interest rate cut rates this morning (the 14-day rate) and injected US$10.6 billion of liquidity into the banking system.

It excited oil markets, but the rest of market was not that excited by it though and want more. The PBOC and Chinese regulators are expected to announce further stimulus at tomorrow's briefing given fresh data showed its nation needs some love with China's youth jobless rate hitting its highest level this year