Oil slightly rises amid weak Dollar

Source: Investing.com
In spite of OPEC forecasting weak demand for oil in 2015, as well as lower oil prices, oil has actually steadied as US Dollar dropped. As SNB lifted a three-year cap versus the Euro, the Swiss Franc elevated sharply, pushing down the Greenback and the Euro zone currency. Due to commodities being priced in US Dollars, black gold gained with US currency drop. Brent crude added 65 cents to $49.34 per barrel and US crude rose 67 cents to $49.25 per barrel. Despite low oil prices, US is still expected to increase oil output by nearly one million barrels per Dollar.
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Thu, 15 Jan 2015 17:18:30 GMT

Dollar close to 12-year high despite mixed US Data

Mixed US economic reports could not do much to weaken economic recovery, thus having the US Dollar remain close to the 12-year peak versus other major currencies.The US currency somewhat rebounded after a sharp fall on Wednesday amid report on poor retail sales for 2014. The US Dollar index slid only 0.22% to 92.10, not far from the 12-year high

Thu, 15 Jan 2015 15:15:04 GMT

Euro falls after Franc cap removed

On Thursday the Euro dropped to a new low against the US Dollar after the cap on Swiss Franc was removed by the SNB. The Euro declined 0.57% to $1.1714 against the Greenback, after hitting an unseen since 2003 low of $1.575. The US Dollar remains strong due to high expectations of interest rates rising, whereas a full scale QE

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