- Advertisement -
Home Business Raw materials, foreign exchange, Oil prices will fall - economy

Raw materials, foreign exchange, Oil prices will fall – economy

The Oil price recovery this week was short-lived. Even the strong decline in US Oil reserves is not stabilized the quotations. The gold price remained within reach of his Eight-year highs.

Oil prices fell on Friday. A Barrel (159 litres) of North sea Brent hit with 42.78 Dollar was 0.8 percent less. The price of the US WTI crude also fell by 0.8 percent to 40,32 dollars. Market observers spoke of a counter-movement, after the Oil prices in the course of the week, also rose substantially. Among other things, a sharp decline in the Oil reserves in the United States had provided a boost. A pulse arms trade in the Oil market. In the USA, the financial markets remained closed on the day before the national holiday on Saturday and fell as a pulse generator. A renewed decline in the conveyor systems in the United States gave Oil prices a further boost. The American equipment company Baker Hughes had previously reported that the number of used oil wells to be sunk within a week to three to 185. Since March, the number of active drilling rigs has decreased drastically. The cause of the oil price slump is. The lower price level makes the relatively expensive Fracking-promotion, which is widely used in the United States unprofitable.

The “anti-crisis currency” Gold remained in demand. The precious metal held with a price of 1775 dollars per Troy ounce, within reach of its recent Eight-year highs. The growing tensions between the US and China supported prices, said Analyst Jeffrey Halley from the broker Oanda.

The Euro hardly moved from the spot. Early in the afternoon, the community currency cost 1,1243 dollars, and roughly as much as the day before. The exchange rate fluctuations between the Euro and the Dollar was unusually weak. Easily, the Euro was supported by solid economic data. In both China and in the Eurozone the mood in the service sector brightened noticeably.

Jerry Rolon
Jerry Rolonhttps://etrendystock.com/
After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Must Read

SMI Markets Scam Check and Review

Modern trading world relates with the contemporary ideas of professional and experienced traders. These professionals provide their qualified services in the form of useful...

Before his resignation Smolii lost an action to Kolomoiskyi regarding refinancing guarantee

On June 19, the Economic Court of Kyiv fully satisfied the lawsuit of Ihor Kolomoiskyi against the National Bank of Ukraine and Privatbank (in...

A must-read Review of WorldStocks for Potential Traders

Considering the effect that the pandemic has had on the nation and the world’s economy, people are always looking for ways in which they...

Itay Barak and Tal Valeriola on Investing in Real Estate in 2020 Amidst the COVID-19 Crisis

The Coronavirus pandemic has left a sour taste in the mouth of a majority of the world's population. The effect of the pandemic is...

Related News

SMI Markets Scam Check and Review

Modern trading world relates with the contemporary ideas of professional and experienced traders. These professionals provide their qualified services in the form of useful...

Before his resignation Smolii lost an action to Kolomoiskyi regarding refinancing guarantee

On June 19, the Economic Court of Kyiv fully satisfied the lawsuit of Ihor Kolomoiskyi against the National Bank of Ukraine and Privatbank (in...

A must-read Review of WorldStocks for Potential Traders

Considering the effect that the pandemic has had on the nation and the world’s economy, people are always looking for ways in which they...

Itay Barak and Tal Valeriola on Investing in Real Estate in 2020 Amidst the COVID-19 Crisis

The Coronavirus pandemic has left a sour taste in the mouth of a majority of the world's population. The effect of the pandemic is...

How to use Forex Tools for automated trading

Today, we see a lot of auto trading software or auto trading systems that can perform trade on your behalf while you are sleeping....