Other Markets
Bonds Analysis
German government bonds are opening lower Monday, taking cue from weaker US Treasuries overnight amid risk-on following upbeat Chinese data released over the weekend. China purchasing managers index produced by the China Federation of Logistics and Purchasing (CFLP) rose to 53.1 in March from 51.0 in Feb.
Gold Analysis
Spot gold is trading around $1669.50 this morning, off from earlier highs of $1674.75 in early Asia following strong weekend release of the Chinese Mfg PMI data. The direction of Gold over the last week or so has largely been dictated by currency moves since the calming of EU debt fears, but the $1684-1690 area […]
Crude Oil Analysis
May Nymex WTI crude is currently trading around $103.25 in Asia this morning in a continuation of the rather tame trading range seen on Friday into the month/quarter end. The much larger than expected build in EIA crude inventories last Wednesday along with talk on Thursday of release of some Strategic Petroleum reserves (SPR) has […]
Gold Analysis
Spot gold is trading around $1661 this morning, fractionally above yesterday’s european opening levels of $1658, after a whippy day on Thursday that saw midday highs around $1664 eroded to $1645.25 on risk off sentiment over EU peripheral concerns and falling equities.
Crude Oil Analysis
May Nymex WTI crude prices have been steady this morning in Asia trading a $103.20-56 range in quiet trade after yesterday’s sharp fall led by equities and further talk of releases of Strategic Petroleum Reserves (SPR),with White House spokesman Jay Carney saying ” the option is on the table but no decision has been made”.
Bonds Analysis
German government bonds are opening firmer Thursday, amid China and North Korea jitters, combined with uncertainty about the size of the eurozone bailout fund. Focus remains on Spain where a general strike is planned today ahead of PM Mariano Rajoy 2012 budget presentation on Friday.
Gold Analysis
Spot gold prices are under pressure again this morning in Asia slipping to recent lows of $1658.35 from early highs of $1665. The move seen as an extension of yesterday’s drop from $1684.60 as dollar strength picks up and concerns over China weigh on sentiment.
Crude Oil Analysis
May Nymex WTI crude prices are steady this morning around $105.35 in Asia, having fallen back yesterday on a number of issues starting with Chinese growth fears that hit the equity markets. Discussions between US, UK and France over possible release of Strategic reserves to counter any supply shortages as a result of the Iranian […]
Gold Analysis
Spot gold prices are slipping back again this morning after highs just short of the psychological $1700 level prompted some profit taking following Bernanke’s comments on Monday which sparked a sharp rally. The metal logged a high yesterday of $1697.25 before easing back to close at $1680.70, under the 100 and 200 day MA both […]
Crude Oil Analysis
May Nymex crude prices are steady around $106.75 in Asia this morning in quiet trade after the WTI contract posted small losses yesterday. The API weekly inventory report showed a build above analysts expectations of 3.6 million barrels , which may have weighed on prices later in the session, but the more telling weight came […]
Bonds Analysis
German government bonds are opening higher Tuesday following dovish comments from Fed Chairman Bernanke and ahead of auctions from EMU periphery issuers. Traders also cite flight-to-quality buying on the back of an article in Der Spiegel released late Monday titled “The Hidden Risks Lurk in ECB’s Accounts”, and notes the central bank “may face hidden […]
Crude Oil Analysis
Nymex crude prices were rather mixed yesterday trading in a fairly tight range despite Fed Bernanke’s dovish comments which sparked a wave of dollar weakness on QE3 fears and drove equities sky high. The commodity sector picked up on the comments but lagged the dollar weakness elsewhere.