Crude futures fell today on news of China's wider-than-anticipated trade gap, snapping a three-day winning streak in the process. The disappointing data, which was attributed to slower export demand, exacerbated pre-existing worries about the economic health of the world's No. 2 oil consumer. Meanwhile, traders also weighed lingering concerns over debt-riddled Greece, as well as disappointing GDP data from Italy. By the end of the session, April-dated oil declined by $1.06, or 1%, to finish at $106.34 per barrel.
Likewise, gold futures also ended their three-day string of consecutive daily wins, thanks to the aforementioned trade data out of China -- which is a significant consumer of bullion. The malleable metal was also pressured by a strengthening dollar. By the time the dust settled, gold for April delivery slipped by $11.70, or 0.7%, to end at $1,699.80 per ounce.
Levels to Watch in Trading:
At the end of every market day, the staff at Schaeffer's Investment Research reviews the trading day in detail, covering major events and key market developments. Don't miss this critical, timely and insightful report. If you enjoyed today's edition of Market Recap, sign up here for free daily delivery straight to your inbox.
Recent XIV Action May Bode Well for Bulls
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.