Friday, November 1, 2013

U.S. Economy starting its recovery

Today, unemployment claims reached its four week low declining by 10K from the past one reaching 340K as a genuine sign for starting the recovery of U.S. economy after the hard period of September and early October. Due to that U.S. Dollar started to regain investors’ confidence against the safest heaven, Gold started its third declining day with $1338.10 per ounce after 14 days of gain reaching $1344.71 per ounce as day’s high $20 lower than last week’s high. Staying with the expectations of the bearish wave until U.S. Dollar fall again.

Crude Oil is scoring new low at $96.06 per barrel after the surplus in U.S. inventory levels reaching 4.1M barrels 1.1M barrels lower than September inventory but 2.2M barrels higher than the forecasts. To keep crude oil in the downward trend for the third day too.

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