Oil prices on Wednesday, 27 September, declined, came under pressure to strengthen the dollar. Negative impact on the market was not too happy makrostatistika the United States. Nevertheless, news of a significant decline in gasoline inventories in the United States have contained the drop in prices of oil.
Following the auction on Oct. 27 at the New York Mercantile Exchange futures price for WTI crude oil for December delivery fell 0.61 dollars - up to 81.94 dollars per barrel. At the InterContinental Exchange in London December contract for Brent Crude grade fell by 0.43 dollars, closing at 83.23 dollars per barrel.
Trading session on Wednesday the oil market again took place under the influence of countervailing factors. The tone of trading ask dollar continued to strengthen against the euro, thereby reducing the attractiveness of oil as an alternative investment. In anticipation of the Fed meeting in early November, the main concern of foreign exchange market participants, the second round of monetary incentive, which is expected to be announced participants. In particular, before investors regain rumors that the amount of redemption of public debt by the Federal Reserve would be less than current projections suggest.
Contributed to the strengthening U.S. dollar against the euro and the message that tax revenues in Greece turned out to be less than projected government. The result in question was Greece's intention to reduce its budget deficit. With the problems encountered and Portugal, where the stalled negotiations on the budget for 2011. Against this backdrop, the dollar rose against the euro on 0,9% to $ 1.3734 dollars per euro.
"The economy seems to be no slipping back into recession, however, shows no obvious signs of improvement, - said a senior market strategist at Confluence Investment Management Bill O'Grady. - A key factor is what the Fed will do to support the economy and that it will be mean for the dollar. "
