Oil fell more than 3 percent on Wednesday, snapping a two-day rebound after U.S. government data showed a surprise weekly build in crude inventories and the Federal Reserve raised interest rates for the first time in nine years.
The rate hike signaled faith that the U.S. economy had largely overcome the 2007-2009 financial crisis. Higher U.S. rates are expected to support the dollar, which should pressure oil prices, making oil costlier for holders of other currencies.
The dollar firmed modestly after the rate rise. Based on interest rate futures markets, traders expected a second rate hike in April.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
The rate hike signaled faith that the U.S. economy had largely overcome the 2007-2009 financial crisis. Higher U.S. rates are expected to support the dollar, which should pressure oil prices, making oil costlier for holders of other currencies.
The dollar firmed modestly after the rate rise. Based on interest rate futures markets, traders expected a second rate hike in April.
No comments:
Post a Comment