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Oil prices plunge, Euro dips on Draghi's comments.

News Date: 12/11/2015 09:44:05
Update Date: 12/11/2015 10:12:28
 
Euro was knocked out after ECB's chief Mario Draghi singled out the common currency while testifying in front of the European parliament, expressing that the Euro's strength was weighing negatively on inflation, thus enhancing views of more easing in the ECB's next meeting in December. Euro recovered most of its losses however, with its index down 0.07% to 86.44. It lost 0.15% against Dollar to 1.0727. It traded at its close price against Sterling at 0.7061.

European stocks were briefly up after Draghi's comments, before falling deep into red territory, with the pan-European index FTSEurofirst 300 down 1.05% to 1,478. Britain's FTSE fell 68 points, or 1.14% to 6,226. Germany's DAX lost 101 points, or 0.93% to 10,806. France's CAC 40 plunged 75 points, or 1.50% to 4,878.

Wall Street opened sharply lower, with Dow Jones down 137 points, or 0.77% to 17,565. NASDAQ fell 29 points, or 0.58% to 5,037. S&P 500 lost 13 points, or 0.63% to 2,061.

Dollar was back near its recent highs, with its index up 0.16% to 99.22. It gained 0.22% against Sterling to 1.5180. It rose 0.1% against Yen to 122.97.

Oil prices plunged for the second day, with U.S. crude futures falling $1.12, or 2.61% to $41.81 a barrel. Brent futures for December lost 97 cents, or 2.10% to $45.63 a barrel.

Gold futures lost nine dollars, or 0.85% to $1,075 an ounce. Silver futures fell 6 cents, or 0.44% to $14.20 an ounce.

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