During the trading session in New York, which closed the week, the price of crude oil was found to be declining, reaching below $ 100 a barrel. More precisely, the value of oil has fallen by 4.05%, closing the week at $ 98.49 a barrel, the lowest price for 3 months now. It was, in fact, since last February 7 that oil did not reach these levels. The data is very important considering the fact that the U.S. is the largest economy in the world and the world’s largest consumer of oil.
The main thrust has been given by the employment figures, which have disappointed investors, who were expecting in the last month the creation of 162,000 jobs, while they were created only 115,000. This figure, as you might expect, has a strong influence on investors. Unemployment is one of the big problems to solve in order to end the crisis, the reason is simple. If a person has work, also has the money to spend on everyday goods, but not only. Eventually the work also allows you to buy cars, motorcycles, homes and much more. All this makes “turn the economy”, to the great benefit of the country. Being out of work, however, it restricts personal consumption and creates great risks for the economy itself.
Follow the price of crude oil is also very important for those investing in forex currencies. It ‘well known, in fact, that the price of crude oil is linked to that of currencies, in a manner proportional to some of them and in a manner inversely proportional than others. Here, then, that according to movements in oil prices could also be possible to determine the price of other currencies and maintain, therefore, investment in the currency market Forex.