{"id":7823,"date":"2010-03-22T13:01:35","date_gmt":"2010-03-22T17:01:35","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7823"},"modified":"2010-03-22T13:01:35","modified_gmt":"2010-03-22T17:01:35","slug":"weekly-spot-crude-oil-price-forecast","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/22\/weekly-spot-crude-oil-price-forecast\/","title":{"rendered":"Weekly Spot Crude Oil Price Forecast"},"content":{"rendered":"<p><strong>By Russell Glaser <\/strong>&#8211; India put the breaks on the market today, sending equities and  commodities lower. Spot crude oil was trading lower during the afternoon  hours of the European trading session. Driving the price of the  commodity lower was a surprise rate increase by the Reserve Bank of  India. This sparked worries of tighter monetary policy across other  central banks. Falling spot crude oil prices could continue through the  week.<\/p>\n<p>The rate hike came as a surprise to the  market as most economists had expected the Reserve Bank of India to  increase rates in April. The bank hiked the key lending rating rate  0.25%, surprising the market. Worries over the interest rate increase  could begin to slow the global economic recovery, stymieing future crude  oil demand. European equities were also trading lower after the  interest rate increase<\/p>\n<p>This sent spot crude oil prices lower during todays trading. The  price of spot crude oil dropped below the psychological price level of  $80 to $79.60, after opening the trading week at $80.85.<\/p>\n<p>Spot crude oil prices could be under further pressure this week on a  stronger dollar. The greenback is forecasted to post more gains against  the euro after European leaders have been unable to find a fitting  solution to the Greek debt crisis. The issue could be resolved on  Thursday as European leaders are scheduled to meet to discuss a possible  bailout package for the struggling European Union nation. Until an  agreement is reached, the dollar could continue to rise against the  euro, pressuring spot crude oil prices. A stronger dollar could send  spot crude oil prices lower to the next support level of $78.<\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex   Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and   may not be suitable for all investors. There is a possibility that you   could sustain a loss of all of your investment and therefore you  should  not invest money that you cannot afford to lose. You should be  aware of  all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; India put the breaks on the market today, sending equities and commodities lower. Spot crude oil was trading lower during the afternoon hours of the European trading session. Driving the price of the commodity lower was a surprise rate increase by the Reserve Bank of India. This sparked worries of tighter &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/22\/weekly-spot-crude-oil-price-forecast\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Weekly Spot Crude Oil Price Forecast&#8221;<\/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-7823","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=7823"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7823\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}