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Oil prices slide further after US ISM data- check out Brent crude on the rebound now

Following on from an earlier update noting the fall in Brent crude, that was trying to rebound into the US ISM report, but it has now slumped again and fallen further below $79 per barrel. The reactions across the markets have seen the Dow Jones not react positively to this data, but Gold has. The metal has now lifted above $2,340 on the news. The dollar remains under pressure too and USD/JPY is now setting fresh session lows underneath 156.40. The EUR/USD has its best chance to reach 1.09 now today by the looks of things right now, but of course the spectre of an ECB rate cut on Thursday is a drag at the same time it seems. Meantime, Brent for August delivery has hit a new session low at $78.74. It has bounced off that low now though, currently trading at $79.42

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