Democrats And Republicans Are Expected

Oil prices slipped below $107 a barrel on Friday and hit a 2012 low as investors fought shy of riskier, growth-oriented assets on fears that Greece would leave the euro, and after a downgrade of 16 Spanish banks by Moody's added to the contagion gloom. Brent crude was down 51 cents to $106.98 a barrel by 1122 GMT after earlier slipping to its lowest level for the year at $106.40. U.S. crude was up 16 cents to $92.72. "The driving factor is still what is going on in Europe with the downgrades of the Spanish banks and very negative sentiment towards risk investments," said Eugen Weinberg, an analyst at Commerzbank in Frankfurt. "It's not surprising to see further falls in Brent today." The euro fell to fresh four-month lows as the dollar strengthened .DXY, putting commodities priced in ...

Brent crude slipped below $107 per barrel on Friday to its lowest in 2012 as a worsening euro zone crisis and weak U.S. economic data raised fears of a global slowdown that could dent oil demand. Worries about the euro zone, already roiled by Greek political chaos, mounted as Spain slipped into a recession, pushing the euro to a four-month low while sluggish data out of the United States sent worrisome signs about a still-fragile recovery at the world's largest economy and top oil consumer. Brent crude was down 64 cents to $106.85 by 2:47 a.m. EDT after slipping to its lowest level for the year at $106.40. Front-month Brent is on track to post its largest three-week fall since May 2011. U.S. crude was down 58 cents to $91.98, heading for its largest three-week fall since August 2011. " ...

Brent crude held steady above $107 per barrel on Friday, but prices were headed for a third straight weekly drop as a worsening euro zone crisis and weak U.S. economic data raised fears of a global slowdown that could dent oil demand. Worries about the euro zone, already roiled by a Greek political chaos, mounted as Spain slipped into a recession, while sluggish data out of the United States sent worrisome signs about a still-fragile recovery at the world's largest economy and top oil consumer. Brent crude edged up 7 cents to $107.56 a barrel by 11:34 p.m. EDT after slipping to as low as $106.62. Front-month Brent is on track to post its largest three-week fall since May 2011 after settling at the lowest level in 2012 on Thursday. U.S. crude inched up 3 cents to $92.59, but is still ...

(Reuters) - President Barack Obama threatened on Wednesday to veto a Republican bill that would partially replace looming automatic budget cuts and protect military spending at the expense of food stamps and other social programs. The White House said in a statement that the cuts proposed by Republicans would "cost jobs and hurt middle-class and vulnerable Americans - especially seniors, veterans and children." "The bill's unbalanced provisions fail the test of fairness and shared responsibility," the White House added. The veto threat escalates one of several new budget battles that have broken out this spring in Washington. The automatic cuts, about $1.2 trillion over 10 years, were set in motion by last summer's debt-limit deal, after a congressional panel failed to specify further ...

(Reuters) - Representative Barney Frank said he will fight efforts by House Republicans to loosen restrictions on derivatives trading that were included in the 2010 financial oversight law that bears his name. The full House later this month, when members return from a break, is expected to vote on two bills that would constrain regulators as they write tough new rules to regulate the $700 trillion over-the-counter derivatives market. Frank, in a release on Monday, said the bills go too far and that Democrats will offer amendments to scale back the changes. "Thoroughly hoping to take advantage of the fact that public attention is now focused on the budget and the healthcare bill, House Republicans are moving substantially to weaken the regulation of derivatives, which Congress adopted ...

(Reuters) - The estimated net costs of expanding healthcare coverage under President Barack Obama's landmark restructuring have been reduced by $48 billion through 2021, though fewer people would be covered under private insurance plans, a new analysis from the nonpartisan Congressional Budget Office showed on Tuesday. The CBO also revised its overall federal budget deficit estimates to show a $92 billion increase in the projected fiscal gap for 2012, confirming a fourth straight year of $1 trillion-plus deficits. The CBO revisions gave ammunition to both Democrats, who largely support Obama's controversial 2010 healthcare law, and to Republicans, who staunchly oppose it. The law will take center stage later this month when the U.S. Supreme Court hears oral arguments in a challenge of ...

(Reuters) - Democratic lawmakers have called on the country's futures regulator to crack down on excessive speculation in oil markets as rising gasoline prices move to the forefront of the election campaign. In a letter to the Commodity Futures Trading Commission, 23 senators and 45 members of the House of Representatives called on the agency to stop "dragging its feet" on implementing new regulations to stop Wall Street from dominating the oil market. Meanwhile, gasoline prices are soaring, despite plenty of supply and low demand, the lawmakers charge. "As the cost for American people to fill their gas tanks continues to skyrocket, the CFTC continues to drag its feet on imposing strict speculation limits to eliminate, prevent, or diminish excessive oil speculation," the members of ...

Fundamental Analysis EUR "... we doubt that the euro zone will be able to avoid further contraction" - Howard Archer, chief economist for IHS Global Insight Euro zone economy contracted less than expected in the last quarter of 2011 as France and Germany helped mitigate the recession. Gross domestic product fell 0.3 per cent, said the European Statistical Office. USD "The housing market is moving toward more sustainable growth" - Barry Rutenberg, chairman of the National Association of Home Builder U.S. industrial output stagnated in January, after rising a revised 1 per cent in December, the Ministry of Economy, Trade and Industry reported on Wednesday. GBP "The U.K. labor-market data continue to paint a bit of a mixed picture, but the key point is that unemployment is still rising" ...

Fundamental Analysis EUR "... we doubt that the euro zone will be able to avoid further contraction" - Howard Archer, chief economist for IHS Global Insight Euro zone economy contracted less than expected in the last quarter of 2011 as France and Germany helped mitigate the recession. Gross domestic product fell 0.3 per cent, said the European Statistical Office. USD "The housing market is moving toward more sustainable growth" - Barry Rutenberg, chairman of the National Association of Home Builder U.S. industrial output stagnated in January, after rising a revised 1 per cent in December, the Ministry of Economy, Trade and Industry reported on Wednesday. GBP "The U.K. labor-market data continue to paint a bit of a mixed picture, but the key point is that unemployment is still rising" ...