Oil continues to drop from 5.5-year low as glut seen persisting

Source: Bloomberg
Oil dropped for a third day, resuming its fall from the lowest since 2009 as supplies from Russia and Iraq are strengthening speculation that the oversupply, which guided crude into a decline, may preserve this year. Black gold futures slid 2.1% as Iraq plans to boost exports, while Russia's output has already reached a new record. Brent fell 48% last year, the most since 2008, while OPEC refused to cut output back in 2014.
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Mon, 05 Jan 2015 09:59:07 GMT

Euro slumps to nine-year low as QE bets climb

On Monday the Euro dropped to a nine-year low versus the US Dollar among rising expectations that QE measures will be implemented by the ECB. The Euro was pressured lower by the strong US Dollar, with EUR/USD hitting 1.1858, the lowest since February 2006, while inflation is expected to decline 0.1%, which would be the first slide to the negative

Fri, 02 Jan 2015 15:04:09 GMT

Dollar reaches a new high ahead of US manufacturing data release

On Friday the US Dollar climbed to a nine-year high versus other major currencies, prior to US manufacturing data report release. On account of the recent US data, expectations were increased for the Fed to raise interest rate in the near future, supporting the currency. The Greenback index gained 0.55% to 91.14, the highest since 2005, while EUR/USD hit the

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