Last week, the House approved another increase in the national debt ceiling. This means the government can borrow $1.9 trillion more to stay afloat and avoid default. It has been little more…
Month: February 2010
Crude Oil Remains Supported in European Morning
Crude oil continues to trade around 71/72 while gold hovers around 1070/1075 in European morning. Stock markets and the euro also stabilize after the slide last Friday. Oil demand in China looked…
Correlation Between Oil and Stock Markets Rises Again
Although oil prices stabilize after tumbling Thursday, the near-term outlook remains weak. The front-month contract of WTI crude oil price is hovering around 73 in European session as stock markets continue to…
Renewed Concerns on European Debt Defaults Weigh on Risky Assets
Investors dump risky assets amid renewed concerns about sovereign default risks in European countries. In Greece, although the government’s plan to reduce deficit received support from the European Commission, it is opposed…
Crude Rebounds as Strong European PMIs Halt USD’s Rally
Crude oil rebounds to 73.2 in European morning in tandem with the equity market as strong manufacturing PMI readings in European countries boosted sentiment and buying interest in the Euro. The White…