Crude Oil Fundamental Analysis February 8, 2012, Forecast
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Crude Oil Fundamental Analysis February 8, 2012, Forecast
Analysis and Recommendations:
Crude Oil is currently trading at 98.50 up 1.59 or 1.6% for the day off of the high of 99.15. The USD plunged today as the euro soared on news of a possible agreement in Greece. After initial weakness crude moved up 1.6% higher on Tuesday, gaining as Greece reportedly neared a deal that could avoid a messy default and drag the world economy down with it.
Review of Tuesday’s Econmic Reports
|
00:01 |
GBP |
BRC Retail Sales Monitor (YoY) |
-0.3% |
-0.8% |
2.2% |
|
03:30 |
AUD |
Interest Rate Decision |
4.25% |
4.00% |
4.25% |
|
03:30 |
AUD |
RBA Rate Statement |
|
|
|
|
05:00 |
JPY |
Leading Index |
94.3 |
93.8 |
93.7 |
|
07:45 |
EUR |
French Trade Balance |
-5.0B |
-5.3B |
-4.1B |
|
08:00 |
TWD |
Taiwanese Trade Balance |
0.42B |
2.10B |
2.31B |
|
11:00 |
EUR |
German Industrial Production |
-2.9% |
-0.1% |
0.0% |
|
11:30 |
CLP |
Chilean Trade Balance |
1.98B |
1.15B |
0.39B |
|
13:30 |
CAD |
Building Permits (MoM) |
11.1% |
0.8% |
-2.6% |
|
15:00 |
USD |
IBD/TIPP Economic Optimism |
49.4 |
48.3 |
47.5 |
|
16:30 |
USD |
4-Week Bill Auction |
0.060% |
|
0.050% |
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