Possibility of loose ECB policy as Euro bloc CPI remains at 1.6%

Source: Bloomberg
© Scanpix/Reuters
Eurozone's inflation remained steady this month after climbing for two straight months, providing some freedom for the European Central Bank to pursue a stimulus policy as the Euro bloc's recovery is slow. The annual CPI was 1.6%, the same as it was in June, which is in line with economist's predictions. Economists believe that the benchmark interest rate will remain at 0.5% after tomorrow's meeting.
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Wed, 31 Jul 2013 12:09:53 GMT

WTI heads towards best month since August ahead of U.S. oil report

West Texas Intermediate headed towards its best month since last August ahead of the report that is expected to indicate that crude stockpiles declined in the U.S. The September WTI contract inched up to $103.73 per barrel. Brent for September delivery decreased to $106.25 per barrel. U.S. fuel stockpiles jumped by 1.8 million barrels previous week.

Wed, 31 Jul 2013 13:16:04 GMT

Franc touches one-month high ahead of FOMC statement

The Swiss currency inched up to the strongest level in over a month versus the U.S. Dollar as investors await the FOMC statement to indicate the proper direction for the greenback later on Wednesday. The Swiss franc advanced 0.11% to ₣0.9286 versus the greenback and climbed 0.18% to ₣1.2307 against the 17-nation currency. 

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