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CRUDE CRACKS DOWN ON TAPERING NEWS
June 20, 2013
10:50 am
kittycriston
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Forum Posts: 17
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June 19, 2013
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Crude oil futures also cracked down along with the stock market after the Federal Reserve signaled it may wind down its bond purchases if the U.S. economy continued to improve.

The Fed, which kept monetary policy on hold after a two-day meeting, signaled greater optimism about the economy, forecasting that the unemployment rate could fall to 6.5% by 2014, one year sooner than the central bank had previously estimated.

Asian stocks fell Thursday as data showed Chinese manufacturing activity deteriorating further in June, adding to the selling pressure after the Fed revealed that the central bank may start to scale back its asset purchases later this year if the economy continues to strengthen.

Source : tradingtipsfree.wordpress.com

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