, where traders avoided risky assets, providing oil accordingly with bearish momentum, as pessimism is surrounding the outlook for the European debt crisis, while economic fundamentals proved the world’s largest economy is on the right track of recovery as 2011 nears to end.
This week the focus will shift to the end of the year trading as this week is the last before the holiday infamous for low volume and tight ranged trading. The sentiment will start to shape as investors stay aside ahead of the start of the coming year and closely eye developments from the euro area.
On Monday, eyes will be focused on the French auction, with hopes bond yields decline this time, as rating agencies still has its top credit rating under the line of fire.
The outlook for crude oil prices remains generally to the downside, as persistent fears from the EU debt crisis and signs global growth is slowing are likely to keep crude oil prices under pressure, where traders will also continue to monitor the developments from the 17-bloc euro nation and the European leader’ latest moves to contain the debt crisis, where we expect volatility to persist through the sessions this week.