Oil prices continued their upward trend during last week; the gap between Brent and WTI also expanded during most of the week. During last week, WTI oil rose by 3.4%; Brent oil, by 1.9%. The concerns over the rising tensions between Iran and Israel might be contributing to the rally of oil rates. The recent news of the contraction in the EU GDP by 0.2% during Q2 2012 may have curbed the rise in oil prices. In the U.S the financial reports showed a mixed signal as to the progress of the economy: the Philly Fed index was still negative, while the retail sales edged up during July.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.