Monday 11th January 2010
Oil moved higher as the dollar weakened and we saw positive data from China. The poor non-farm payroll figures, and a statement from a member of the St Louis Fed Reserve, pushed the US Dollar to 4 week lows, and encouraging export data from China, showing growth for the first time in 13 months, edged buyers in to the oil market once again.
|ICE BRENT CRUDE - FEB 10|
|ICE WTI - JAN 10|
|GASOIL - JAN 10|
• The US Dollar Index slid on poor economic data, and lighter than usual volumes – the Japanese markets closed for Coming of Age Day.
• The US Dollar is now trading at 4 week lows following Fridays non farms, where 85,000 jobs were lost
• St Louis Fed Reserve President stated that US interest rates would remain lower for “quite some time”
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