Crude Oil Hits 3-Week High
In Monday’s economic news
the ISM reported growth in the Service Sector slowed in May (report).
Federal Reserve chairman Ben Bernanke speaking at the International Monetary
Conference expressed some concerns about inflation (report).
Treasuries responded to the news by closing lower, erasing part of Friday’s big
rally.
The US Dollar Index closed slightly higher, with the Dollar’s best performance
coming versus the British Pound and Japanese Yen.
July Crude Oil rose to a three week high but closed well below Monday’s
session high of $73.84.
The softs were mixed, with Sugar +1.18% and Cocoa +0.89% the only gainers.
Coffee -2.77% was the biggest decliner.
All the grains closed lower, led by Corn -2.50% and Wheat -1.30%.
Economic News
ISM Services Index At 60.1 For May (report)
For more reports and analysis go to our
Economic
News section.
Ashton Dorkins
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