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Oil rises above $50.00/bbl after FOMC minutes

FXStreet (Córdoba) - Crude oil price spiked to its highest level since July above $50.00 a barrel as the dollar weakened broadly as the knee-jerk reaction to FOMC latest minutes.

FOMC minutes showed Fed officials chose to wait before raising rates as they remain worried about low inflation. Minutes revealed concerns among members that a premature tightening might erode the credibility of the Fed's inflation objective.

Crude oil rose to a high a few cents above $50.00 a barrel before settling around $49.50/bbl, posting a 3.4% daily gain.

Crude prices were already strong on Thursday amid a weaker dollar and worries amid an escalating conflict in the Middle East after Russia's military involvement in Syria.

Central Banks dominated - FXStreet

Valeria Bednarik, chief analyst at FXStreet noted that it was the Central Banks led the way this Thursday, resulting in a continued decline in the greenback towards fresh weekly lows against most of its rivals.
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Gold briefly rises above $1,150/oz after Fed minutes

Gold prices saw a short-lived spike during the American afternoon, with spot climbing briefly above $1,150.00 an ounce, but the rally quickly faded and the commodity shed over $10.00, to end the day around $1,140.00.
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