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Oil prices likely to stay volatile – World Bank

FXStreet (Mumbai) - The World Bank on Wednesday said the oil prices are likely to stay extremely volatile but maintained its bearish view.

Key Points

Oil seen averaging $53 per barrel in 2015 & 2016

Current prices require significant government expenditure adjustment in Russia in 2016 and beyond

Russian authorities have successfully stabilized economy, but sees contraction of 3.8% in 2015 improving to -0.6% in 2016

EUR/USD bounces-off 1.1200, US ADP report eyed

The EUR/USD pair met fresh supply near 1.1225-30 region in the recent dealings, thus extending the drop just ahead of 1.12 barrier, only to recover few pips near 1.1215 where it now wavers.
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China slowdown to negatively impact our Autumn Forecast - EU Dombrovskis

In an interview with the German daily Handelsblatt on Wednesday, European Commission Vice President Valdis Dombrovskis noted that the economic slowdown in China is expected to pose downside risks to the Union’s H2 2015 economic forecasts.
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