Other Markets
CRUDE OIL ANALYSIS
Crude Oil futures retreated Wednesday from their eight-month high reached the day before as worries over Iran tensions subsided and renewed concerns about the euro zone emerged. Crude Oil was also exhibiting a strong correlation to equity markets, which were also falling on European concerns.
Market Analysis
EUR/USD – Low print was $1.2944 in small, $1.29448 in regular, a trader confirms, and pair has rebounded to $1.2960 as some see that dip as a buy opportunity, at least short-term. Bids eyed at 41.2900/10 area, just under the Monday lows seen in those few centers that were open.
Market Analysis
EUR/USD – Stops triggered through $1.2995/90 as funds add weight, traders say, with EUR/USD extending lows to $1.2978. Reported demand at $1.2975/70 so far remain untouched. A break of $1.2970 to expose next batch of stops, which if triggered to then open a deeper move toward $1.2950.
GOLD ANALYSIS
Spot Gold prices have rallied for a third consecutive session Wednesday, trading at its best level in nearly two weeks, buoyed by growing geopolitical tensions between Iran and the West. Gold prices reached an intra-day high of $1613.26 shortly after European stocks opened, before prices corrected back to $1603.75.
Oil rallies as geopolitical tensions remain high
WTI Crude oil, which has rallied strongly since mid December, closed yesterday at the highest level in eight months rallying by 4.2 percent on the first trading day of the year. The strong performance is based on a combination of increased geopolitical risk in Iran, improved economic data from the U.S. and China (the world’s […]
GOLD ANALYSIS
Spot Gold prices received a boost yesterday joining in a risk rally on the back of firmer Chinese, Indian and Australian PMI data and later compounded by a global PMI returning above 50.0. Stronger equity markets, and Crude Oil rising on the back of increased US/Iran tensions in the Gulf also added to the more […]
CRUDE OIL ANALYSIS
Nymex WTI and ICE Brent Crude Oil both rallied yesterday amid further Middle Eastern tensions in the Gulf after comments from Iranian army and naval chiefs warned of repercussions should the US carrier return into it’s territorial waters.
GOLD ANALYSIS
Precious metals and Gold slip into negative territory as the USD rebounds though the market, according to some analysts, had switched on to risk-on mode. Spot Gold rose about 2.2% overnight to close above $1,600/oz as investors saw a bargain in rattled markets and strength in global manufacturing activity which points to steady demand.
CRUDE OIL ANALYSIS
Crude Oil futures are continuing to face resistance at $103.37/bbl, but Iran’s saber-rattling is the most bullish factor driving the market. Nymex Crude Oil for February delivery settled $4.13, or 4.2%, higher at $102.96/bbl Tuesday, marking the contract’s highest finish since May 10.
CRUDE OIL ANALYSIS
Crude Oil futures rose sharply Tuesday, lifted by a report indicating growth in China’s manufacturing sector and continued tensions between Iran and the West. Light, sweet crude for February delivery rose $3.05, or 3.1%, to $101.88 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe traded $3.37, or 3.1%, to […]
GOLD ANALYSIS
Spot Gold is higher in Europe Tuesday, buoyed by a more positive tone across the broader markets and expectations among some analysts and traders that the yellow metal’s recent downtrend may be almost over. At 1122 GMT, the spot price of Gold was $1,591.08 a troy ounce, up $26.58 or 1.7% on the day.
GOLD ANALYSIS
Spot Gold prices started a recovery last Friday after a sharp fall to $1522.75 on Thursday as the EUR/USD broke down through $1.2900. The end of the year saw the metal pick up from $1545 to $1581.60 before closing out the year around $1565.