Crude Oil Fell Back After The Fed Meeting Dollar Repair Lost
HC plastic mesh News: just the end of the Federal Reserve Board (FederalReserve, called Fed) meeting on interest rates once again announced that the benchmark interest rate unchanged for the dollar since the recent highs, with focus on Greek sovereign debt issues have also been fears subside, the dollar’s down, crude oil 16 to resume its rally, rising more than 2% rise to around 82 U.S. dollars, recovering from a few days ago more than 2% decline.
16 euro-zone finance ministers agree that the funding of Greece, the euro zone finance ministers issued a statement after the meeting said that they have the euro zone rescue plan for the first time since the establishment of the technical details to achieve a consensus. Around the Greek sovereign debt issues have also been fears subsided, as the S & P (Standard & Poor) Greece has previously announced debt rating from negative watch list. News that the euro higher against the dollar, the dollar’s decline, oil prices that began the day up trip to Europe in the late period is broke through 81 U.S. dollars mark.
Fed would keep interest rates at zero to 0.25% of this range remains unchanged, and is expected to interest rates will remain at low levels in the longer period. Market 15, had feared that if the Fed hinted that interest rates will take initiatives and efforts to reduce fiscal stimulus may lead to Economy Slow down the pace of recovery and inhibit the growth of crude oil demand, but this concern with the interest rate statement released to fade.
U.S. Department of Commerce (DOC) data released Tuesday showed U.S. February housing starts fell an annualized 5.9% monthly rate, there the biggest drop since 4 months; February actual rate of housing starts down in January of 39200 to 38,800. The data is not as negative as initially thought, the data also helped the market optimism on the economy heating up.
16 K line graph shows, NYMEX4 month crude oil futures settled at belt line under the shadow of big Yang Xian. Crude oil closed at 10, and 5-day moving average line side, RSI indicator lows, indicating improved market sentiment, although the trend line MACD indicator has issued a Sicha high signal, but the day finally confirm that the signal is not real, momentum indicators and random indicators also turned up. Technical indicators show that the recent trend of volatile oil markets to face the impact of the strong fundamental, but also suggests that investors of the future uncertainty of oil prices has not diminished.
OPEC on Wednesday local time (17) O in Vienna PE C hold regular meetings. Market analysis, O PE C Member States in February limited production has dropped to 53% degree of compliance, much lower than 81% over the same period in 2009. Current production levels may lead to oversupply, which will strengthen the weak state of oil prices.
Wednesday market will also be concerned about the United States in February producer price index and changes in U.S. crude inventories last week, EIA, for basically the further guidance. After the market closed the week API to the latest U.S. inventory data, a moderate positive.
The New York Mercantile Exchange in April light sweet crude futures contract settled up 1.90 U.S. dollars to 81.70 U.S. dollars a barrel, or 2.4%; The contract hit an intraday high of 82.04 U.S. dollars a barrel. ICE Brent crude futures contract settled up 1.13 U.S. dollars to 79.02 U.S. dollars a barrel, or 1.5%.
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