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Crude Oil Soars Beyond 140$

The Greenback saw yesterday a bearish trend versus the major currencies. When the Fed failed to convince that it would lift the interest rate before the end of the Year and despite a revised GDP that showed a slight improvement in the economy, which provided data that the country may have avoided a recession.
When keeping the Federal Funds Rate at 2% during Wednesday’s meeting the Fed expressed their worries about inflation signaling a future increment rate will be only probably over the next months. However the GDP grow by 1% revealing that the first quarter results of a growing but delicate economy. The economy is still impacted by a housing recession, credit and financial crisis which affects people and businesses a like to resist spending and investment. Also yesterday the existing home sales showed an increase of the 2.0% in May reaching an annual rate of 4.99 millions units from […]

Original post by Forextvblog

This entry was posted on Friday, June 27th, 2008 at 1:49 am and is filed under Crude Oil, currency trading, forex, Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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