Oil Falls On Syria Attack Delay

West Texas Intermediate fell from a two-year high as the prospect of imminent attacks on Syria receded and as better-than-expected U.S. economic data raised speculation that the Federal Reserve will taper its stimulus.
Prices dropped as much as 1.4 percent as the U.K. and France said they favor waiting for the results of a United Nations investigation into Syria’s alleged use of chemical weapons. The U.S. economy expanded at a faster pace in the second quarter and first-time jobless claims fell more than forecast last week, raising speculation the Fed will reduce its $85 billion monthly bond buying in September.

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