Christian Debt Recovery

Greek Debt News

December 1st, 2007 |

Author: Gavin

greek debt news

Greek Debt Pushed U.s. Crude Oil Again Retracement

HC plastic mesh News: Greece concerns the gradual proliferation of debt and interest rates in India unexpectedly explosive events, the re-birth of the large dollar safe-haven buying, the dollar index sharply higher for a second day, pressure Friday in New York’s main oil futures contract prices down by almost 2%, almost taking a week’s gains. This week, trading down about 0.7% of the contract.

View of the next two months, Greece will face more than 20 billion euros of debt refinancing needs, so in the March 25 European Union leaders summit, investors become increasingly nervous, because whether or not to Greece in the EU Member States the issue of financial assistance provided is not clear, concerns prompted the euro against the dollar sharply lower, and is expected in January recorded its worst weekly performance since it also supports the market for the dollar safe-haven buying.

Solvent suppression by Greece, the euro over time difficult. Earlier news of the Greek had been aid to the euro from a year lows, but Greek officials said Wednesday there will be early in April to seek International Monetary Fund, Greece (IMF) for assistance, rather than pinning hopes on March 25 by EU summit to obtain relief. Analysis that, if Greece to the International Monetary Fund (IMF) made a formal request for any form of the euro will be extremely negative, which means that the European Central Bank unable to bring together an assistance program to help a European Union member states.

The same time, the Indian central bank (ReserveBankofIndia) Friday will be key lending and borrowing rates of domestic up 25 basis points, respectively, to stabilize inflation expectations, this is also contrary to many market participants had expected. Message suggesting investors do not over-loose monetary policy has to be continuously enforced, and the market began to worry about India, even China may further tighten monetary policy. The news pushed the market up in New York time in risk aversion, the dollar rose sharply, a significant pressure on the price of oil, the oil price above 82 U.S. dollars from the line sharply lower, down more than 2 U.S. dollars a short time, an intraday low of 79.86 U.S. dollars intraday low.

New York oil market closed, the dollar index rose 0.58% to 80.69 points. Morning, the index hit a new high since last June.

U.S. stocks ended lower Friday, the Dow ended on the 8th rising for the situation, due to concerns about the debt problems of the Greek renewed push the dollar higher, causing the crude oil and other commodity prices under pressure.

19 K line graph shows, NYMEX4 month crude oil futures settled at belt line under the shadow of big Yinxian. Oil prices fell below the 10 day moving average and 5 day moving average support after falling much further, and eventually get around 80 U.S. dollars first-line support and steady rise. After the round of oil price rally, the recent trend is extremely unstable, showing that the market trend for the uncertainty of future oil prices. However, the recent trend of view ,80-83 dollars range still intact, oil prices have basically remained at the interval to run, despite the recent volatility within the range. 80 U.S. dollars first-line support is still strong, if below, or lead to more selling pressure to further lower prices, targeting 30 and 60 day moving average support around 78.95 U.S. dollars. No significant day

Friday Economy Data guidelines, so that the trend of crude oil almost entirely depends on the exchange rate and the market’s view on the debt problems of Greece, plus a week late and recently in April, under contract to the city of profit-taking and closed positions of the demand, so when the week Crude oil back on the 2010 test year high of 83.95 U.S. dollars / barrel in the process affected. If oil prices on the re-examination of the level of longer used, and further lower the possibility will be amplified. At the same time, the current non-commercial long positions in the futures market at 2-month high, if oil prices fall, bull funds or pull out, so that a sharper decline in oil prices.

NYMEX-4-month crude oil futures fell 1.52 U.S. dollars CLJ0 settlement price, or 1.85%, to 80.68 U.S. dollars a barrel, today’s intraday trading range between 79.86-82.17 U.S. dollars. The contract for the second consecutive day as well as a row two weeks down. The contract fell 56 cents this week, cumulative, or 0.69%. To settlement price, today’s decline in recent months contract since Feb. 25 the biggest one-day drop since. London Brent crude for May

LCOK0 settlement price was down 1.60 U.S. dollars, or 1.96%, to 79.88 U.S. dollars a barrel, after trading between 79.20-81.42 U.S. dollars. This week, the contract closed up 49 cents or 0.62%.

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