Forex | Forex | USD's Strength Continued To Weigh On Commodities (11/08/2009 04:42:43)

USD's Strength Continued To Weigh On Commodities

Without much news or data, crude oil traded narrowly Monday. Investors' focus this week is on the Fed's FOMC meeting Wednesday. As recent economic data in the US have shown impressive improvement, the market anticipates the Fed will change its stance on monetary policies, probably from easing bias in previous meetings to neutral bias. This is the main reason for USD to rebound late last week. As USD rebounded and stock markets retreated, WTI crude oil slid -0.5% to close at 70.6 Monday. On the


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