I know we are guilty from time to time of making it sound like it's all about China. But let's not forget Chinas partner in massive growth, India. And this week it looks like the U.S. consumer seems to be getting a bit of help from a rate increase in India that is weighing on the commodity bulls. And India's central bank warns that inflation risks will remain a problem for some time.
And from across the pond contributed to the pull back with worse than expected GDP data out of the United Kingdom and renewed worries popping up in Spain's bond market. A plan supported by their finance minster does not seem to be convincing investors that Spain can get a handle on their financial woes. All of this appears to be weighing investors and crude oil and commodity prices. And this just supports our continued predictions for a mid January pull back. And if you look at recent years the facts support our theory. In seven of the past 10 years imports expanded during January. And the street agreed on Tuesday taking March oil futures down $1.68 to $86.19 a barrel, the lowest settlement price since Nov. 30. http://www.financeindonesia.org/showthread.php?2307-India-Interest-Rates-UK-and-Spain-News-Weighing-on-Crude-Oil-Bulls
