Crude Oil Has Largest Jump In 2 Weeks
Without any economic data hitting today
it was left to the National Association of Realtors, who forecast a drop in
existing home sales, and the Fed’s Janet Yellen, who commented on inflation (report),
to occupy the newswires.
Treasuries closed slightly lower (report),
along with the US Dollar Index. The Dollar lost ground against all the majors,
with the largest losses versus the Euro and GBP.
Crude Oil jumped sharply higher, along with Unleaded Gas, Heating Oil and
Natural Gas. Cold weather across the US was cited as the primary cause for
today’s rally in energy prices. Natural Gas was the biggest gainer on percentage
basis, recording its largest gain in almost a month.
Nat. Assoc. Of Realtors Forecasts 5.7% Drop In Existing Home Sales.
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