Other Markets
Gold Analysis
Spot gold prices are trading down this morning in Asia amid a generally risk off sentiment in the market following further negative press on the EU over the weekend. Comments from French Pres Sarkhozy criticising the ECB’s hard monetary policy, and Germany’s austerity drive along with the widening of China’s Yuan band have led to […]
Crude Oil Analysis
May Nymex crude prices have eased back in Asia this morning on a general risk-off environment with sharp falls in commodity currencies and a slide small slide in Gold. The front month WTI contract is currently trading down after opening the week at $102.80, and has slipped to lows of $102.04 in recent trade.
Crude Oil Analysis
May Nymex crude prices picked up again yesterday fuelled by an equity rally in the S&P500, US jobless claims, talk of a high Chinese GDP number and IMF raising global growth prospects at next week’s meeting in Washington.
Gold Analysis
Spot gold continues to consolidate the gains seen on Tuesday with a somewhat subdued session yesterday and in asia this morning where prices have been tied into a $1653-1663 range. Rekindled talk of possible further QE from the US has led to further safe-haven demand this week for the metal along with concerns in the […]
Crude Oil Analysis
Nymex crude prices reversed Tuesday’s sharp falls yesterday aided by the weekly EIA inventory report which showed a build in inventories over the last week of 2.8 million barrels. Whilst the figure was higher than analysts expected, it was considerably less than the 6.6 mmbl build reported by the API on Tuesday, and the EIA […]
Gold Analysis
Spot gold is holding steady in the mid 1650’s this morning in Asia as a renewed surge in safe-haven appetite hauled the metal off lows yesterday of $1632 to $1663.10 in late NY trading.
Crude Oil Analysis
Nymex crude prices came under pressure yesterday, dragged lower by falling equities and renewed EU debt concerns which led to widening peripheral spreads particularly in Spain and Italy.
Crude Oil Analysis
May Nymex crude prices are holding steady in Asia this morning just above $102.00 consolidating the recovery from lows yesterday of $100.81 seen following some waning risk appetite in the wake of the weak NFP data from Friday, falling equities and renewed fears of a possible 3rd bailout for Greece.
Gold Analysis
Spot gold is trading around $1623.50 in Asia this morning in quiet trade ahead of the long weekend. The metal suffered another sharp fall yesterday as risk off sentiment grew in Asia and Europe on concerns over Spain, and was compounded by a poor Spanish bond auction and comments from ECB’s Draghi.
Crude Oil Analysis
May Nymex crude prices fell back yesterday as risk sentiment waned amid weakening equity markets initiated in Asia and compounded in Europe following a weak Spanish bond auction. Commodities were also hit with the CRB index down around 1.8%.
Gold Analysis
Spot Gold moved up sharply yesterday and is holding firm around $1678 in Asia this morning having recovered from lows of $1663.05 yesterday on bargain hunting and short covering, assisted by a sharp rally in crude oil prices and a strong bounce in the S&P 500 as early dollar strength waned.
Crude Oil Analysis
May Nymex crude futures bounced back yesterday fuelled by a sharp S&P500 recovery which accelerated as the index turned positive towards the london close. The contract jumped back from early lows in NY of $102.06 back up through the 50day MA at $103.73 to highs of $105.49 before settling around $105.23.