Oil falls on belief its not sustainable

Source: Bloomberg
Oil dropped after a three-day rally, cutting a third weekly rise in New York amid speculation its climb to a three-month high was not reasonable. On Friday, futures declined 0.7%, after a 1.4% gain yesterday to $95.60 per barrel, the highest since May11. September-delivery oil slid to $94.98 per barrel. Brent October-settlement crude slipped 1.2% to $113.90 per barrel in London.
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Fri, 17 Aug 2012 06:58:35 GMT

German PPI falls in July

German Producer Price Inflation weakened to 0.9% in July from 1.6% in preceding month, the Federal Statistics Office reported on Friday. Analysts predicted a reading of 1.2%. In 2011 the rate was 2.1%. On monthly basis, the PPI held unchanged despite forecast for a 0.3% increase. In June, the index dropped 0.4%.

Fri, 17 Aug 2012 15:50:55 GMT

Treasuries jumped on economic data

The U.S. treasuries jumped on Thursday, pushing 10- year note yields lower by 1.43% to 1.79%. The two-year notes erased 1 basis point to 0.28%. Initial jobless claims in the U.S. rose slightly to 366 thousand in the week ended August 11. In the property market, the number of new residential buildings declined by 1.1 per cent in July to 746,000 units.

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