Other Markets
GOLD ANALYSIS
Spot GOLD prices continue to decline in London, with an intra-day low of $1544.15 posted so far at 0720GMT. Prices picked up moderately to $1556.43 shortly before the European equity opening, but have since slipped back to currently trade at $1549.53, down 5.9 points on the day.
GOLD ANALYSIS
Spot Gold prices fell back sharply yesterday on the back of broad based dollar strength prompted by an array of worries in Europe, and China, with Comex futures losing almost $45 at one stage. Some technical damage has now been done to the long term bullish outlook, with talk that hedge funds have been the […]
CRUDE OIL ANALYSIS
February Nymex crude prices fell back sharply yesterday as Eurozone debt concerns led to a raft of selling in the EUR/USD despite earlier strong Italian auctions where yields were around half as much as previous auctions, but later rose again.
GOLD ANALYSIS
Precious metals are trading lower early in the Asian session, with gold moving in and out of positive territory. The GOLD fell 2.3% in the spot market overnight on renewed investor demand for cash that pushed prices lower. Spot silver sank 5.5% overnight.
European stocks up 0.4% on Italian auction, US futures up 0.2%
Japan struggles as industrial production falls; Italian auction yield on bills halved European stocks started the session in a sour mood following worse than expected Japanese economic figures from November that showed industrial production declined 2.6 percent MoM and retail sales were down 2.1 percent MoM cementing what has been an awful year for the […]
BUND ANALYSIS
German government bonds are trading moderately lower midday Wednesday, having reversed opening gains following strong Italian auction results. Volumes were extremely thin with many players away and extending their Christmas holidays.
GOLD ANALYSIS
Spot gold is lower in a relatively narrow range Wednesday as investors act cautiously in holiday-thinned trade, although concerns remain that a further sharp correction may be on the cards for the struggling precious metal.
BUND ANALYSIS
German government bonds opened higher Wednesday, with the yield on the 2-year Schatz hitting fresh EMU record low at 0.139% on risk-aversion buying following overnight falls in stocks and amid uncertainty ahead of Italy’s auctions.
Italy Bond auction preview
Italy is due to tap its 2-year zero coupon Sep 2013 CTZ issue Wednesday for between E1.5bln-E2.5bln indicative size. The auction comes amid a heavy slew of issuance from Italy for up to E20bln, which completes its funding programme for this year, but settlement of these issues are 2012.
Market Preview – 28 December 2011
Forex Overnight: EUR trading lower against USD The Euro has weakened against the USD, this morning, ahead of the Italian bill auction scheduled later today, consisting of €9.0 billion of 179-day bills and €2.5 billion of zero-coupon 2013 securities. Additionally, market expectations that Italian business confidence for December, scheduled to be released tomorrow, would show […]
GOLD ANALYSIS
Spot gold prices edged lower yesterday after the long Christmas break with the market opening yesterday morning at $1602.50 in Asia and after a brief high of $1608.20 slipped back to $1589.75 before closing the day around $1593.
OIL ANALYSIS
Nymex crude oil prices leapt higher yesterday in thin trading conditions over threats from Iran that it would close the Straits of Hormuz in a response to threats of sanctions from Western nations against its oil exports.