Trade Resources Economy Oil Prices Fell in Early Asian Trade with Markets Expecting Gloomy Chinese Economic Data

Oil Prices Fell in Early Asian Trade with Markets Expecting Gloomy Chinese Economic Data

Oil prices fell in early Asian trade on Monday, with markets expecting gloomy Chinese economic data to be published this week.

U.S. stocks closed lower, marking a fifth straight session of losses, as bank results disappointed and investors fretted over the potential impact of global economic weakness on U.S. corporate earnings. In Europe, the franc jumped almost 30 percent in the chaotic minutes after the Swiss National Bank stunned markets by lifting a 1.20-per-euro cap that was created in 2011 to avert deflation at the height of the euro zone crisis.

After falling as much as 30 percent in a matter of minutes on Thursday in the wake of the SNB's move, to a record low of 0.8500 Swiss francs, the euro was last trading at 1.0090 francs. That was up 3.5 percent on the day but more than 15 percent below where it was before the SNB decision. Adam Myers, European head of FX strategy at Credit Agricole in London, said inflows into Switzerland's foreign exchange reserves in December had been five or six times the average volume since the limits were put in place.

Investors will look forward to Delta's 2015 guidance and plans for its capacity growth, fleet and fuel to see whether the Atlanta-based carrier can stay ahead. Advanced Micro Devices posts its fourth-quarter results as the chipmaker struggles to expand beyond personal computers. The company abruptly replaced its CEO three months ago.

Source: Made-in-China.com
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Oil Prices Fell in Early Asian Trade on Monday
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