3 Jan 2014
Oil dropping in an improving US outlook
FXstreet.com (Guatemala) - Oil has plummeted on a more positive outlook from the US economy.
Brent spot has fallen 111.0 to sub 108.00 marking a low of 107.63. US data in the manufacturing sector has kicked off to a good start for 2014 and this will also offer encouragement for a decent payrolls number next week. Data today also showed that the applications for U.S. unemployment benefits declined last week with 339k being printed and better than 341k previous. The Fed is widely expected to continue with its tapering programme at forthcoming FOMC meetings.
Brent spot has fallen 111.0 to sub 108.00 marking a low of 107.63. US data in the manufacturing sector has kicked off to a good start for 2014 and this will also offer encouragement for a decent payrolls number next week. Data today also showed that the applications for U.S. unemployment benefits declined last week with 339k being printed and better than 341k previous. The Fed is widely expected to continue with its tapering programme at forthcoming FOMC meetings.