Friday, January 6, 2012

Crude Oil Forecast Jan. 9 2012

Crude Oil Forecast Jan. 9 2012 : Crude oil prices declined as the USD gained strength after the jobs report, where the Nonfarm payrolls increased by 200,000 jobs, well above median estimates of 155,000 jobs, furthermore, unemployment rates plummeted cheerfully to 8.5 percent from 8.7 percent in December.

Moreover, the euro declined fuelled with concerns that the euro zone might not be able to find a comprehensive solution to the debt crisis, which will make it more difficult for European banks to raise capital, thereby might become more exposed.

Now, eyes will be spotted on this year, and the performance of the European economy, especially after the ECB lent the European banks huge amount of money, and if that money will help the euro zone to continue recovery process amid big challenges.

The outlook for crude oil prices remains generally to the downside, as persistent fears from the EU debt crisis and signs global growth is slowing are likely to keep crude oil prices under pressure, where traders will also continue to monitor the developments from the 17-bloc euro nation and the European leaders’ latest moves to contain the debt crisis. For the latest updates on the stock market, visit Stock Market Today
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