FOREX: US Dollar recovers against euro as crude prices fall
"The dollar recovered early losses against the euro late in the New York session on Thursday as crude oil prices fell on rising stockpiles in the United States, the world's largest consumer of energy.
Higher oil prices would crimp U.S. economic growth in the near term, analysts say, so a price reversal is seen as positive for both the economy and the greenback.
Trading was relatively thin, however, with investors reluctant to make large bets on the dollar either way ahead of next week's U.S. trade and capital flows data." (Reuters)
Interesting: "Speculators who are behind mammoth gains in the oil and commodities markets in 2005 unwound their long positions, leading some analysts to wonder if the oil rally had peaked."
Higher oil prices would crimp U.S. economic growth in the near term, analysts say, so a price reversal is seen as positive for both the economy and the greenback.
Trading was relatively thin, however, with investors reluctant to make large bets on the dollar either way ahead of next week's U.S. trade and capital flows data." (Reuters)
Interesting: "Speculators who are behind mammoth gains in the oil and commodities markets in 2005 unwound their long positions, leading some analysts to wonder if the oil rally had peaked."
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