{"id":48876,"date":"2014-03-24T08:54:01","date_gmt":"2014-03-24T12:54:01","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=48876"},"modified":"2014-03-24T08:54:02","modified_gmt":"2014-03-24T12:54:02","slug":"crude-prices-dragged-lower-by-china-flash-pmi","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/03\/24\/crude-prices-dragged-lower-by-china-flash-pmi\/","title":{"rendered":"Crude Prices Dragged Lower by China Flash PMI"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude prices were seen trading lower on Monday, dragged lower by China\u2019s HSBC Flash Purchasing Managers Index (PMI). The weak data indicates a further slowdown in the world\u2019s second largest oil consumer. The North American WTI edged 0.35% lower to $99.12 a barrel on the New York Mercantile Exchange on Monday. At the same time futures for Brent crude declined 0.38% lower to $106.52 a barrel on the London-based ICE Futures Europe exchange.<\/span><\/p>\n

Crude – China<\/span><\/h2>\n

China Purchasing Mangers\u2019 Index for March from HSBC Holdings Plc and Markit Economics came in 48.1 lower, compared to analysts\u2019 estimates of 48.7 and a final reading of 48.5 seen in the previous month. \u00a0The figures shows an economic slowdown in China; the world\u2019s second largest oil consumer. A figure below 50 indicates a contraction and above indicates expansion. The slowdown in the nation\u2019s economy is mainly due to the weak domestic demand, as analysts predict Beijing to launch policy measures to ensure steady economy growth. The manufacturing output index dropped to an 18-month low of 47.3 in March, compared to 48.8 seen in the previous month.<\/p>\n

Crude – Ukraine<\/span><\/h2>\n

Meanwhile the ongoing tension between Russia and Ukraine continues as the Russian troops seized military bases in the Crimean region. While the Western nations imposed tougher sanctions on Russia, which could add worries over the supply disruptions from the world\u2019s second largest oil producer. \u201cOil got bashed last week,\u201d Tom James, the managing director of Navitas Resources Ltd. in Dubai said yesterday. \u201cIt did firm up a bit at the end of the week as we saw an escalation in sanctions regarding Russia. We\u2019re close to support levels, so I\u2019d see $103-$105 as a good buying opportunity,\u201d he added. Countries from the eurozone and the US are also expected to publish manufacturing indicators for March later in the day. \u00a0 Visit<\/i><\/strong>\u00a0<\/i><\/b>www.hymarkets.com \u00a0<\/a>\u00a0to find out more about our products\u00a0<\/i><\/b>and start trading today with only $50 using the latest trading technology today<\/i><\/strong><\/p>\n

The post Crude Prices Dragged Lower by China Flash PMI<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Crude prices were seen trading lower on Monday, dragged lower by China\u2019s HSBC Flash Purchasing Managers Index (PMI). The weak data indicates a further slowdown in the world\u2019s second largest oil consumer. The North American WTI edged 0.35% lower to $99.12 a barrel on the New York Mercantile Exchange on … <\/p>\n

Continue reading “Crude Prices Dragged Lower by China Flash PMI”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-48876","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/48876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=48876"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/48876\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=48876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=48876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=48876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}