China's Growth Outlook Lowered
SylviaHunt30Crude oil moved in sideways in Asian session on Monday. Market sentiment was weighed down today by China's downwardly revised target on economic growth. Other news was not dramatic enough to move the market so far. The EU summit was a non event but the worse is that it was revealed that around half of the 130B euro funding for Greece would be delayed until finance ministers received a 'detailed assessment' by the EU/IMF of the implementation of 38 specific reform measures by next week. Tensions over Iran continued with President Obama reiterating that it would not rule out using force against Iran to defend US interests.
