Daily Crude Oil Fundamental Analysis January 23, 2012
By FXEmpire.com – Crude oil prices dropped on Friday as the USD gained strength after The Daily Telegraph’s report said that the IMF will downgrade the global growth outlook for 2012 to 3.3% from 4.0%.
The IMF sees a 2.2 percent contraction for Italy and a 1.7 percent growth decline for Spain, as economies are weighed down by fiscal austerity measures, The IMF also urged the European Central Bank to boost liquidity to stave off a deeper Euro zone crisis.
Eyes will be spotted the performance of the European economy, especially after the ECB lent the European banks huge amount of money, and if that money will help the euro zone to continue recovery process amid big challenges.
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Oil Analysis | 01/21/2012
