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EUR/USD – Euro in Holding Pattern Ahead of Fed Minutes

The euro is steady on Wednesday, as the pair trades at 1.1140 in the European session. On the release front, the sole European release is the German 10-year Bond Auction. It’s a busy day in the US, including Building Permits and PPI. Today’s highlight is the Federal Reserve minutes from its January policy meeting.

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US Crude Flat Ahead of Fed Minutes

US crude is flat on Tuesday, as March futures are trading at the $29 level in the European session. Brent crude futures are trading quietly at $32.55. On the release front, the US releases two key indicators – Building Permits and PPI. Today’s highlight is the Federal Reserve minutes from its January policy meeting.

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Crashing oil prices hit former Texas boomtowns

PEARSALL, Tex. – Back when the oil money flowed, the Location 581 Saloon would be crammed with pipefitters, welders, derrickhands, truck drivers and all sorts of oilfield workers – as many as 35 of them a night together shelling out more than $2,000 for drinks and good times. These days, the bar in this South Texas city 50 miles southwest of San Antonio sits mostly empty, except for a few locals. On a recent early evening, three clients sat at the bar. Only two were drinking.

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Energy jobs under siege as oil rout extends

An extended rout in oil prices is forcing energy companies to scale back on jobs and send expatriates home, London-based recruiter Robert Walters found in its annual salary survey.According to the study, the slump in oil, alongside a drop in commodities prices more generally, has hurt a broad range of workers, from those in Indonesian refining businesses to those at Australian energy producers.

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Gold logs best settlement in about 2 weeks as stocks sell off

Gold futures climbed back above $1,100 an ounce on Wednesday to settle at their highest level in almost two weeks, as oil prices renewed their slump and dragged global stock markets along with for the ride, lifting the metal’s investment appeal. February gold gained $17.10, or 1.6%, to close at $1,106.20 an ounce on Comex—the highest settlement since Jan. 7, according to FactSet.

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