Euro Drops by 1.5% Overnight, Crude Prices Slump Ahead of Possible Iran Nuclear Deal
July 14, 2015 6:45 am
Both US and Japanese equities ended higher in their respective sessions after a conditional agreement was made between Greece and its creditors for a bailout that would halt the countries debt crisis for the time being. However, the uncertainty surrounding this – with both the Greek and other European governments still to vote on the new deal – has kept investors cautious. The Dow jumped 217 points to close at 17,977, edging up towards the 18k mark for the first time in weeks, while the S&P500 rose 22 points to close at 2,099.
The Euro was treading water around the $1.1007 level after dropping 1.5% overnight, weighed down in part by an decline in German Bund yields. USD was steady at 123.46 Yen after touching a 12-day high of 123.74, having pulled away from a near two-month low of 120.41 struck last week. The Australian Dollar was up 0.3% at $0.7428, following upbeat domestic business survey data.
U.S. crude slipped around 1.3% to $51.50 a barrel, coming under renewed pressure as Iran appeared to be close to a deal with six world powers that would allow it to sell its oil again on the oversupplied world market. Brent crude dropped about 1 percent to $57.27.
Both US and Japanese equities ended higher in their respective sessions after a conditional agreement was made between Greece and its creditors for a bailout that would halt the countries debt crisis for the time being. However, the uncertainty surrounding this – with both the Greek and other European governments still to vote on the new deal – has kept investors cautious. The Dow jumped 217 points to close at 17,977, edging up towards the 18k mark for the first time in weeks, while the S&P500 rose 22 points to close at 2,099.
The Euro was treading water around the $1.1007 level after dropping 1.5% overnight, weighed down in part by an decline in German Bund yields. USD was steady at 123.46 Yen after touching a 12-day high of 123.74, having pulled away from a near two-month low of 120.41 struck last week. The Australian Dollar was up 0.3% at $0.7428, following upbeat domestic business survey data.
U.S. crude slipped around 1.3% to $51.50 a barrel, coming under renewed pressure as Iran appeared to be close to a deal with six world powers that would allow it to sell its oil again on the oversupplied world market. Brent crude dropped about 1 percent to $57.27.
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