WTI crude falls amid rising supply and China's manufacturing cuts

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Source: Bloomberg
© Scanpix/FP
WTI had its first weekly decline in a month on growing crude supply in the U.S. and amid speculation of declining demand as China cuts excess production capacity. Settlement for September decreased 0.8% to $104.61, reaching weekly drop of 3.1%. In order to ensure more sustainable economic growth, China ordered 1.4 thousand companies to cut excess capacity.
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Fri, 26 Jul 2013 11:50:07 GMT

Japanese Yen climbs as metals decline

The Japanese Yen appreciated as a 0.4% increase in consumer prices, the largest jump since 2008, signaled that Japan may stop stimulus. Additional factor for strengthening currency was China's effort to cut production capacity. The Yen advanced 0.6% to 131.03 versus the Euro. Against the greenback, it was also seen up 0.6% to 98.68 as of 10:48 a.m. London time.

Fri, 26 Jul 2013 11:28:12 GMT

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