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Saturday, June 23, 2012

Crude Oil Fall Shows Weaker Global Growth

On Last Thursday Crude Oil was on eighteen month low as data showing Chinese, European and U.S. August Brent Crude oil closed at $89.23 a barrel, dropping $3.46, or 3.7 percent, and it is a lowest settlement for Brent since December 1, 2010.

There are already seen a building of short position in S&P after extension of stimulus package from Federal reserve in US.It is having a intermediate target of 1285.

As dollar rise , crude and gold start falling. Rupees against dollar is at lowest level in history. It traded above 57/$ on last Friday.

Spot Rupee touched all time low of 57.32/$.
Nymex crude oil prices slipped below $78/bbl mark.

The major economists group predict that we are going into a long term recession and slow down. Again it will take many years to recover. As per expertise market may slow down till 2013 end. Any recovery only can start from 2014. All over world market is worried about slow down and represent over bought zone. This leads to a sharp selling across the globe.

US and Spanish Bonds
: There was sharp fall notice in US 10 year treasuries bond and Spain 10 year bond.