Other Markets
CRUDE OIL ANALYSIS
February Nymex crude prices eased back yesterday despite late gains in the S&P futures. The EIA reported a much larger than expected build in crude inventories for the week ending Jan6 which weighed heavily on the contract.
CRUDE OIL ANALYSIS
The selloff in crude-oil futures gained steam at mid-morning Wednesday after U.S. weekly oil data showed a sharp drop in demand and a larger-than-expected rise in oil stockpiles. Demand for gasoline–the most widely used petroleum product in the world’s biggest oil consumer, fell to a near nine-year low last week, the Energy Information Administration said.
S&P ANALYSIS
(1285,00)The S&P confirmed a 1290 overshooting but it failed to confirm directly our target at 1293,60. The daily closing was however strong, well above the top of the previous sessions. While above 1277.00 it will make another test on the upside.
CRUDE OIL ANALYSIS
Crude oil futures prices were lower early Wednesday on fresh worries about a slowdown in European economies. Germany said the country’s economy contracted by around 0.25% in the fourth quarter, while Spain’s industrial output dropped 7% year-on-year in November, following a 4.2% drop in October. The economic news pushed the euro lower against the dollar, […]
GOLD ANALYSIS
The spot price of Gold is firmly higher for a second consecutive day in Europe Wednesday as sentiment in the market turns increasingly bullish following a break of a key technical level and an evident rise in physical demand.
STOXX 50 ANALYSIS
(2335)The EUROSTOXX 50 confirmed a strong closing last night confirming the positive day reversal it formed on Monday. The indicators of the daily chart are well positive and also those of the s/t ones are above the line but they are missing to confirm strong signals.
DAX ANALYSIS
(6146) The DAX confirmed a strong closing confirmed the positive day reversal. Only a daily closing above 6186 will however confirm higher levels. The indicators of the daily chart are still well positive as well as those of the s/t ones supporting further upside potential.
BUND ANALYSIS
(138,72)The BUND failed to confirm the small negative day reversal but it failed also to confirm higher levels for now. The BUND is however still finding good resistance above 139. The s/t charts are still showing a potential S_H_S formation with the neck line at 138,13!!
GOLD ANALYSIS
Spot Gold continues to follow risk sentiment, picking up yesterday on the back of generally stronger equity and commodity markets, a weaker USD Index and firmer Oil prices. Middle eastern tensions are still in evidence which is also adding some support to the metal on a safe-haven basis.
CRUDE OIL ANALYSIS
Nymex Crude Oil prices marched higher yesterday as some risk appetite returned to equity and commodity markets and the EUR/USD saw a bout of short covering amid largely well received Dutch and Austrian auctions and comments from Fitch that France would not receive a sovereign downgrade this year.
America Market Analysis
EUR/USD – starting to show on the radar screens is Thursday’s ECB policy meeting with traders and analysts chewing the cud over whether or not the ECB will trim rates again by 25bps, as it did in November and December.
CRUDE OIL ANALYSIS
Oil futures climbed Tuesday as tensions between Iran and the West continued to escalate, while U.S. equities opened higher. Light, sweet crude for February delivery rose $1.42, or 1.4%, to $102.74 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe added 74 cents, or 0.7%, to $113.19 a barrel.