By FX Empire.com
Crude oil prices fell on Thursday, as fears from Europe continued to dominate markets, where rising yields inEuropeon mounting concerns the European debt crisis is worsening. Nonetheless, crude oil prices erased some of the losses after data from theUnited Statesprovided hope over the outlook for the world’s largest economy, where better than expected data from the housing and labor sectors provided crude oil prices with some bullish momentum.
Crude oil prices though remained under pressure, where traders fear that the European debt crisis will hit major economies within the euro zone area, which put negative pressure on crude oil prices.
Traders will continue to monitor the developments from Europe regarding the debt crisis, where rising yields in Europe suggest investors are concerned amid the uncertainty that is surrounding the outlook of the EU debt crisis.
Friday November 18:
The United States will end the week at 15:00 GMT with the Leading Indicators for October which are expected to improve to 0.5% from 0.2%.
Originally posted here
