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IAE Warns High Oil Prices Risk to Global Recovery

Posted by Scott Boyd at 9:29 am UTC, 04/12/2011

The International Energy Agency (IAE) said today the high price of oil is presents a genuine risk to the global economic recovery. The IAE also noted that demand is declining but the 2011 demand forecast was left unchanged at 1.4 million barrels of oil per day.

Source: BBC News

Filed under: Forex Round Up, USD, EUR, GBP, CHF, JPY, AUD, CAD

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May
24
Today’s Global
Market Events
8:30am
CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am
EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am
USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm
USD
FOMC Member Dudley Speaks
3:00pm
USD
Treasury Sec Geithner Speaks
7:30pm
JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%