Economic News Oil 

Dollar heads toward weekly gain as oil shock reveberates

By Administrator_India Capital Sands The dollar was headed for its best week since early April on Friday, as tumbling oil prices weighed on commodity currencies and division over Europe’s emergency fund dragged on the euro. The dollar stands near a two-and-a-half-week high against a basket of currencies and is 0.8% stronger for the week. It is up nearly 3% against the oil-sensitive Norwegian krone and about 1% on the euro. Morning moves were modest and led by a drift lower in the Australian and New Zealand dollars as traders were…

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Europe Weakens; Weighed by Losses in Oil Sector Commodity Oil 

Europe Weakens; Weighed by Losses in Oil Sector

By Administrator_India Capital Sands European stock markets sold off Tuesday, weighed by losses in the energy sector as investors react to the price of oil turning negative overnight. At 4:25 AM ET (0825 GMT), the U.K.’s FTSE index traded 1.5% lower, France’s CAC 40 was down 2.1%, while the DAX fell 2.2%. The broader based Stoxx 600 Europe index dropped 1.4%. The price of a barrel of West Texas Intermediate crude to be delivered in May closed at negative $37.63 on Monday, the penultimate day of trading for that contract, as investors and traders desperately sought to avoid…

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