lior

Oil prices shifted with an unclear trend during the first couple of days of the week but soon enough they declined mainly on the last day of the week after the U.S labor report came out and showed that only 80 thousand jobs were added. The ECB rate reduction pulled down the Euro and in the process may have also slightly adversely affected oil rates. During the week, WTI oil slightly fell by 0.6%. Brent oil, unlike WTI, finished the month rising by 1.24%. During the upcoming week there are several reports that may affect oil rates including the U.S trade balance report, minutes of the FOMC meeting, China's GDP, OPEC monthly report and IEA update.
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Oil Prices –July ...

Precious metals took another dive during the first week of July. This fall coincided with the decline in many other financial markets such as oil, U.S stocks etc. The two main events of the week that contributed to fall of bullion rates were the ECB rate decision on Thursday and the U.S employment report. ECB has decided to cut the interest rate by 0.25pp to 0.75% - its lowest rate level. This news adversely affected not only the Euro/USD but also other markets such as stocks and commodities. The following day the U.S non-farm payroll report came out. This time many had anticipated the report will be positive and show a high growth in employment compared to recent months (at least 120k+) but this wasn't the case. Employment expanded by only ...