 |
| Mcx crude tips |
Mcx crude tips - Price of Crude oil pulled back sharply during late morning trade in the native market on today as investors and speculators closed positions in the energy commodity after China, the world’s 2nd-biggest oil consumer, cut its growth rate for previous year, a sign that the slowdown of economy in the country is worse than previously thought, darkening the requirement outlook for the fuel.
China cut its economic growth for 2014 to 7.3 per cent from 7.4 per cent reported earlier. In the meantime, a slowdown in the pace of hiring in the US signaled slight weakness in the labour market recovery in the world’s biggest economy, clouding the demand outlook for the fuel. Non-farm payrolls in the US, climbed by 173,000 in August, compared to an upwardly revised 245,000 gain in July, and below expectations of a 217,000 rise.
At the MCX, September 2015 contract for Crude oil futures, is trading at Rs 3,067 per barrel, down by 1.38 per cent, after unlocking at Rs 3,093, as compared to the previous close price of Rs 3,110. It reached an intraday low of Rs 3,044.At 11:35 AM today.
China cut its economic growth for 2014 to 7.3 per cent from 7.4 per cent reported earlier. In the meantime, a slowdown in the pace of hiring in the US signaled slight weakness in the labour market recovery in the world’s biggest economy, clouding the demand outlook for the fuel. Non-farm payrolls in the US, climbed by 173,000 in August, compared to an upwardly revised 245,000 gain in July, and below expectations of a 217,000 rise.
At the MCX, September 2015 contract for Crude oil futures, is trading at Rs 3,067 per barrel, down by 1.38 per cent, after unlocking at Rs 3,093, as compared to the previous close price of Rs 3,110. It reached an intraday low of Rs 3,044.At 11:35 AM today.
Read More : Mcx crude tips
No comments:
Post a Comment