Weakening Global Economic Outlook Triggers Central Banks to Consider Easing

Oil prices remained under pressure in European session. WTI oil broke briefly below 76 at one point. The benchmark has turned weak after the 80 level was breached. Brent crude held above 100 but support is wavering. Gold strengthened with price soaring to the highest level since September 23. The contrary price movement of gold and euro indicated vulnerable market sentiment and the cause of risk aversion is sovereign debt crisis in the Eurozone.

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Weakening Global Economic Outlook Triggers Central Banks to Consider Easing