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Oil Rises After Weak NFP

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West Texas Intermediate rose from an eight-month low as a worse-than-expected U.S. jobs report reduced concern that the Federal Reserve will further wind down bond-buying.

Futures gained as much as 1.9 percent, trimming a second weekly decline. Payrolls increased in December at the slowest pace since January 2011 and the unemployment rate dropped as more people left the labor force. Prices also gained as China’s crude imports climbed to a record and on speculation that recent declines in prices were excessive. WTI had dropped in seven of the past eight days, tumbling 8.6 percent.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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