Friday, July 20, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Will the US Unemployment Claims Lead to Losses for Crude Oil?

Posted: 19 Jul 2012 05:58 AM PDT

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At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to carefully monitor the US Unemployment Claims figure, scheduled to be released today, at 12:30 GMT. The unemployment indicator tends to have a broad impact throughout the marketplace. As can be seen in the chart below, the price of crude oil tumbled following the release of the June 21st figure.
crude

Don't miss out on another opportunity to capitalize on market volatility!

Today's figure is forecasted to come in at 370K, which if true, would represent an increase in US unemployment from last week. Should the indicator come in as forecasted, investors may take the news as a sign that the US economy is weakening, which could result in the price of oil falling during the afternoon session. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!
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