SAN FRANCISCO (MarketWatch) — Crude-oil futures climbed Friday to close near 4 a barrel, buoyed by weakness in the U.S. dollar as traders kept watch on developments in the Middle East and North Africa region for potential supply disruptions. June crude closed up .07, or 1%, at 3.93 a barrel on the New York Mercantile Exchange. That was the contract’s highest close since September 2008. “No one wants to sell oil in front of a weekend in case there is a flare up in the Middle East,” said John Person, president of NationalFutures.com. “The stock market rally also gives confidence that businesses are not being hindered by the cost increases in energy prices.”read more...
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Risk currencies firmed in slow and steady European trade marked by the absence of London markets which were closed for the Royal wedding holiday. Despite the lack of liquidity from UK, cable was notably bid all night rising towards the 1.6700 barrier while EUR/USD shrugged off weak German Retail Sales trade data to climb towards the yearly highs of 1.4880 after EZ CPI printed hotter than forecast.
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Treasury exempts forex market from costly rules
Corporations use foreign exchange swaps, or forex swaps, to hedge their bets in response to currency volatility. Without an exemption, foreign exchange swap transactions would need to take place on trading platforms, where the terms of the deals would …
TORONTO, April 29 (Reuters) – The Canadian dollar hit itsstrongest level in three and a half years on Friday against abroadly weaker U.S. dollar, shrugging off disappointingCanadian economic data and uncertainty …read more...
I’ve mentioned this week how wide the performance gap has been between what I call Leaders vs. the S&P 500. In most cases, this results in a price or time correction to bring these highly correlated groups back into balance. There is a major lesson to be learned, however, when the split persists.
Divergences can basically have the following outcomes:
NASA scrubs Endeavour shuttle launch over auxiliary-power problemread more...
Massachusetts probing forex at State State
N) over forex services. Traditionally a very profitable area for the banks, forex has come under scrutiny following whistle-blower complaints. In various lawsuits, the banks are accused of inflating their profits by charging customers artificially …
Massachusetts Probing Forex Transactions At State Street -Reuters