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CRUDE OIL Analysis
Nymex crude oil prices fell back yesterday after an initial surge higher in Europe which was on the back of optimism that the Greek/PSI debt swap deal was nearing conclusion. The rally was led by Brent crude and saw a jump in the March WTI contract from $98.88 to $101.29 in the European session.
GOLD Analysis
Spot gold prices gave back marginal gains yesterday as the market lost risk appetite over delays in the Greek debt swap decision and widening spreads in the peripheral EU debt market, particularly in Portugal.
CRUDE OIL Analysis
Nymex crude prices fell back yesterday amid EU concerns over the ongoing delay to the Greek debt swap conclusion, weakening bond markets and jitters from the bulls who remain cautious despite latest CFTC data suggesting money managers boosted net longs by 8.29% over the latest week.
GOLD Analysis
Spot gold made strong gains last week with the moved spurred by the FOMC meeting with the Fed pledging to keep interest rates very low until 2014, and expectations heightening of another round of QE.
CRUDE OIL Analysis
Nymex crude oil prices slipped back on Friday in relatively calm trade into the weekend. Prices failed to close the week above the $100 level but remain firm in the light of refinery disruptions and a possible retaliation to the EU’s decision to embargo Iranian imports from July1.
BUND ANALYSIS
German government bonds are mixed Friday with the yield curve flatter on duration extension buying, according to traders. Bunds opened higher on weaker European stocks open amid a continuing impasse over Greek debt swap talks.
GOLD ANALYSIS
Spot Gold prices consolidated the powerful gains of Wednesday with a new 7week high of $1730.85 in NY yesterday after opening the session around $1710.60. The move was seen as follow through strength following the FOMC meeting which pledged low rates until at least 2014.
CRUDE OIL ANALYSIS
Nymex crude prices closed fractionally lower yesterday in mixed trading with the contract continuing to gyrate around the $100 level but continues to close just below it. The IEA stated that there was no need to release any strategic reserves to counter any shortages from an Iranian oil embargo at the present time.
CRUDE OIL ANALYSIS
Crude oil futures climbed above $101 a barrel Thursday after Iran threatened an immediately halt crude oil sales to the European Union and U.S. indicators showed an improving economy.
GOLD ANALYSIS
Spot gold is up a tad in Europe Thursday, holding its ground above $1,700 a troy ounce after dovish comments by the U.S. Federal Reserve sparked a sharp rally the previous session.
BUND ANALYSIS
German government bonds are opening higher Thursday following overnight gains in USTs after the Federal Reserve indicated that rates will remain “lower-for-longer”. The FOMC statement said, “To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee expects to maintain a highly […]
GOLD ANALYSIS
Spot gold prices raced higher yesterday after touching lows of $1649.15 in NY, following Fed Chairman Ben Bernanke’s reiteration that US Interest rates would stay close to zero until possibly the end of 2014.