LONDON: Crude oil prices and the euro hit new depths on Monday as the dollar benefited from last week’s solid US jobs figures, while European stocks retreated on weak Asian data.
Brent North Sea crude hit a fresh five-year low at $65.93 a barrel and the European single currency fell to $1.2247 — the lowest point since August 2012.
China’s stuttering economy suffered another blow in November as export growth slowed sharply and imports surprisingly contracted, government data showed Monday.
Japan’s economy meanwhile contracted more than initially thought in the July-September quarter, revised official data revealed, showing that the world’s third-largest economy sank deeper into recession.
The Asian data helped lead to declines in Europe’s main stock markets.
Oil prices continued their retreat as well. After hitting its new low, Brent North Sea crude for delivery in January rebounded to $66.38 per barrel, which was still down $2.69 from Friday’s close.
Crude oil prices, euro hit new depths
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