Weak Dollar Will Support Prices Shock Rise
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China and the U.S. economic data due to factors such as positive, higher international oil prices on the 1st round. The New York Mercantile Exchange, light sweet crude for December delivery futures prices rose $ 1.52 the previous trading day to close at $ 82.95 a barrel; London, Brent North Sea crude futures rose $ 1.47 to close at $ 84.62 a barrel.
1 Institute for Supply Management report showed the U.S. manufacturing index rose from 54.4 in September to 56.9 in October, reaching the highest point since May. The figures were better than market expectations, showing that the U.S. economic recovery momentum is still there. China's purchasing managers index released better-than-market investors also increased the forecast of international energy demand expectations. The two major energy consumers of good data provide strong support for oil prices.
In addition, Kuwaiti Oil Minister Sheikh Ahmad Abdullah Ahmad Sabah on the 1st said that the current international market price of crude oil is "appropriate and reasonable", if the market situation does not change dramatically Petroleum Exporting Countries (OPEC) ministerial meeting in December will not change output policy. The news for the stable supply of crude oil provided a positive.
The idea that the international crude oil market for some time, investors will still continue to wait and see, but the quantitative easing monetary policy of the United States is likely to become the international oil price speculation for some time gimmick.
The market focus has turned to be announced this week the Federal Reserve's interest-rate resolutions and policy statement. Widely expected the Fed will launch the second round of quantitative easing, but remaining on the scale of the policy debate. The size of the market is expected to number 100 to 2000 billion from the range, there are forecasts that the Fed will not disclose the number of identified, but the future prospects of the United States ample liquidity basic certainty. If the abundant liquidity led to the continuing weakness of the dollar, will support further increases in crude oil prices.
Some analysts believe that a series of recent data showing the pace of U.S. economic recovery is still slow, and to some extent inhibited the market's optimistic estimate future demand for crude oil. Therefore, the recent international oil prices has been sustained slight concussion, and will be in shock for some time to keep rising.
The high fiscal deficit as a major worry the U.S. economy, but also pose a challenge to the global economic recovery. Not long ago in the United States at the International Monetary Fund and World Bank urged the United States and other developed countries will strengthen the fiscal consolidation. |
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Author Resource:-
Chris Holigan a professianl writer from , it provides the high quality products, such as Tile texture manufacturer, PVC accessory system, and many more.
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By :
Jessie Stone
Submitted
2010-11-12 14:37:21 |
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