Oil drops; Goldman cuts outlook; Venezuela addresses OPEC

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Source: Bloomberg
Oil dropped to the weakest level in almost six years. Meanwhile, Goldman Sachs cut its price forecasts and Venezuela attempted to encourage OPEC member countries to support the price of oil. The commodity fell almost 50% previous year, the biggest drop since the financial crisis in 2008, and Brent crude for February delivery slumped to $48.45 a barrel and traded at $48.74 in London.
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Mon, 12 Jan 2015 15:20:10 GMT

Euro drops on ECB bond-purchase programme speculation; Dollar gains

The Euro retreated versus the Dollar, almost touching a nine-year low, amid speculation the data releases this week may encourage the ECB to start sovereign-bond purchase programme. The common currency fell 0.3% to $1.1802 in New York, while it added 0.3% to 140.75 against the Yen. Meanwhile, the US Dollar appreciated 0.6% to 119.23 versus the Yen.

Mon, 12 Jan 2015 12:42:04 GMT

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