It seems that every world event helps to influence the crude price, every happening around the globe has a negative reaction on the " black gold ", this time its the continues dollar fluctuations that are causing uncertainty.. as the dollar fell to a record low against the euro on speculation that the U.S. Federal Reserve will keep cutting U.S. interest rates.
The dollar posted the biggest weekly losses versus the euro since March as the Fed's half-percentage-point interest-rate cut on Sept. The Fed's trade- weighted dollar index sank to its lowest in 36 years.
During this week the dollar may go even lower....The U.S. currency fell 1.6 percent this week to $1.4091 per euro and touched $1.4120 last week, the lowest since the euro's inception in January 1999.
Seeing the present situation i think the Dollar weakness will drag on, the crisis is not over and the Fed is likely to cut rates further.
SOUTH AFRICA SPRINGBOKS
South Africa laid the groundwork with traditional Springbok rugby and finished an out-gunned England side off with two late tries to win ...
-
Oil Prices Spike to New Record Near $106 on Supply, Latin American Border Tensions ... The saga goes on as oil prices steadied Thursday afte... -
Well the dollar crises goes on as Saudi Arabia, the world's largest crude oil exporter come out in defense of the dollar as it rejected ...
-
Super95 is the most common type of fuel in Europe and is found on each gasoline station. Portugal the price for gasoline are 14-19% more ...
No comments:
Post a Comment