{"id":11832,"date":"2010-08-17T09:26:57","date_gmt":"2010-08-17T07:26:57","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11832\/wti-oil-trading-flat-at-75-us-dollar-index-awaits-direction\/"},"modified":"2010-08-17T09:26:57","modified_gmt":"2010-08-17T07:26:57","slug":"wti-oil-trading-flat-at-75-us-dollar-index-awaits-direction","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11832\/wti-oil-trading-flat-at-75-us-dollar-index-awaits-direction\/","title":{"rendered":"WTI oil trading flat at $75, US Dollar Index awaits direction"},"content":{"rendered":"

WTI oil prices open trading on Tuesday flat, near the $75 mark as light activity in markets coninues through the holiday period and the US Dollar Index awaits direction higher or lower.<\/p>\n

US Light crude oil futures for September 2010 delivery was trading at $75.22 a barrel 08.00 GMT on the NYMEX, little vhanged from the day’s opening price.<\/p>\n

The ICE Futures US dollar Index, which tracks the dollar versus a basket of currencies, was last down 0.6 percent to 82.477, however as yet, oil prices remain flat as other commodities gain ground, including gold prices.<\/p>\n

It’s worth noting that the ICE US Dollar Index gained over three percent in currency trading markets last week, the biggest weekly rise in nearly two years.<\/p>\n

Investors maybe starting to stay away from the US dollar following poor economic data from the world’s largest economy. A falling dollar would have an opposite effect on oil prices, but at the moment we will have to see how it starts to play out.<\/p>\n

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