Oil drops as U.S. delay budget vote

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Source: Bloomberg
Oil fell the most in two weeks on increasing concern U.S. lawmakers might fail to avert looming ‘fiscal cliff', which threatens to drag the world's largest economy into recession. Crude for February settlement was at $88.93 a barrel, down $1.20, after climbing 15 cents to %90.13 a day earlier, the highest close since October 18. Brent for February delivery slid 81 cents to $109.39 a barrel.
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Fri, 21 Dec 2012 11:46:18 GMT

US equities jumped on positive data

US stocks rose on Thursday amid better-than-expected US figures. US GDP for the last quarter was revised up to 3.1% from 2.8%, while Philadelphia-region manufacturing activity expanded at the fastest pace in eight months in December. US housing market also showed signs of recovery. However, persistent uncertainty over the US budget agreement continued to weight on the US equities. The

Fri, 21 Dec 2012 12:37:18 GMT

Aussie drops as U.S. Republicans canceled tax vote

The Australian Dollar dropped to the lowest level in more than 2 weeks as U.S. lawmakers cancelled tax vote. The Aussie Dollar weakened 0.3% to $1.0453 from yesterday, after earlier fetching $1.0438, the weakest level since December 4. Australia's Dollar is set for a 1.1% weakly decline, the biggest since 5 trading days ended October 5. 

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