August 18, 2017

MTECHTIPS;-Crude oil slips, but U.S. optimism supports
Crude oil futures slipped on Friday, but remained supported after Thursday’s positive economic reports from the U.S. added to hopes optimism over the country’s economic recovery. On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD88.00 a barrel during European morning trade, slipping 0.10%. On Thursday, the Commerce Department said gross domestic pMTECHTIPS;-Crude oil slips, but U.S. optimism supports
Crude oil futures slipped on Friday, but remained supported after Thursday’s positive economic reports from the U.S. added to hopes optimism over the country’s economic recovery. On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD88.00 a barrel during European morning trade, slipping 0.10%. On Thursday, the Commerce Department said gross domestic product expanded by 2.7% in the three months to September, up from a preliminary estimate of 2.0%, but below expectations for growth of 2.8%. Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell 393,000, from 416,000 the previous week, slightly less than expectations for a decline to 390,000. In addition, the National Association of Realtors said its pending home sales index rose by 5.2% in October, surging to a five-year high and blowing past expectations for a 0.8% gain.Pending home sales in September rose by 0.4%.
Meanwhile, traders continued to monitor developments surrounding the looming “fiscal cliff” in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1.
WWW.MTECHTIPS.COM
07489294118/119roduct expanded by 2.7% in the three months to September, up from a preliminary estimate of 2.0%, but below expectations for growth of 2.8%. Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell 393,000, from 416,000 the previous week, slightly less than expectations for a decline to 390,000. In addition, the National Association of Realtors said its pending home sales index rose by 5.2% in October, surging to a five-year high and blowing past expectations for a 0.8% gain.Pending home sales in September rose by 0.4%.
Meanwhile, traders continued to monitor developments surrounding the looming “fiscal cliff” in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1.
WWW.MTECHTIPS.COM
07489294118/119

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