Crude continued to trade in and above the $80 level as yesterdays initial jobless data showed claims falling in the US. Optimists will see this as a precursor to a positive non farm payroll figure later on in the session, which will increase confidence that the global recovery ins well in swing.

oil_5_3_10

Crude Oil

Commodity

Level

Change

ICE BRENT CRUDE - APR 10

$78.95

+$0.42

ICE WTI - APR 10

$80.63

+$0.45

GASOIL - MAR 10

$642.25

+$0.25

Market News

  • Both the ECB and MPC left interest rates unchanged in the Eurozone and the UK respectively yesterday
  • The Greeks stated that they had substantial interest in their new 10 year euro denominated bond, and their 5 year bond is 3 times oversubscribed
  • Speculation in the Japanese press that the Bank of Japan might ease monetary policies in order to keep money flowing through their economy
  • Analysts expect unemployment to rise to 9.8% in the US from 9.7%, but it may be pertinent to eye average hourly earnings

Major Economic News

TIME

MARKET DATA

1330

NON FARM PAYROLL FIGURES