Oil Price Drops as Fears Over Eurozone

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Technical Analysis Daily Majors & Minors • Analysts at TD Securities explained that the USD/CAD’s week is likely to go down negatively on the medium and longer-term charts. But will this actually happen? • GBP/USD is trading at 1.6117, down -0.31% on the day, having posted a daily high at 1.6228 and low at 1.6104. Will this trend continue today?

Quick Daily update • The return of worries over global growth prospects sends the oil price and US shares tumbling in their biggest drop of the year. • Venezuela must pay oil giant Exxon Mobil $1.6bn (£1bn) in compensation for assets expropriated in 2007, says a World Bank panel. • London shares close at their lowest level for a year and the oil price drops as fears over eurozone growth resurface. • Thousands of people will receive a second tax statement from HM Revenue and Customs (HMRC) after their first estimate was miscalculated.

Daily News To Watch Friday 10th October 2014 Previous Forecast Actual 13:30pm Unemployment Rate 7.0% 7.0

By Nikhil Pankhania

Senior Market Analyst & Trader

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