Yesterday everything was calm, until the report by the Energy Department. Then, at 10:30am, the United States reported that the crude oil inventories went down by over 4 million barrels. Oil prices jumped, the dollar fell.
Today the retail sales figure finally comes out. A very positive figure will signal that the recession is not coming so fast. A negative figure will make EUR/USD jump and greatly increase the fears of recession. Tomorrow's CPI will also tell us where the economy is going.
Good luck with your trades,
Nadav
nadavs
Thursday, June 12, 2008
Oil Shortage Effect
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