Other Markets
GOLD ANALYSIS
Spot Gold prices headed lower on Thursday partly on some squaring up ahead of the Christmas holidays and lack of further bad news in the Eurozone. Stronger US jobless data added some pressure despite firmer crude oil prices hitting the $100 level .
CRUDE OIL ANALYSIS
Nymex crude prices firmed again yesterday but failed to hold above the $100.00 mark despite some Middle East turmoil in Iraq which could impact on some oil transportation routes, and strong US weekly jobless claims data.
CRUDE OIL ANALYSIS
Oil futures traded little changed early Thursday on mixed U.S. economic data, with third-quarter U.S. economic growth revised downward but jobless claims dropping unexpectedly.
US GDP unexpectedly revised down; jobs data improves again
US futures hold gains on jobs data despite GDP report S&P 500 Index futures are up 0.4 percent and almost unchanged from the levels before the release of the third 3Q US GDP report and initial jobless claims. The GDP report revised down growth in the third quarter to 1.8 per cent QoQ annualised compared […]
UK Morning Briefing
Forex Overnight: EUR trading almost flat The EUR is trading almost flat against the major currencies, this morning, ahead of the European Central Bank (ECB) President, Mario Draghi’s speech later today. Investors have turned skeptical about the liquidity situation in the European financial system, following the higher-than-expected demand by banks for the first tranche of […]
Europe Preview
Asian regional markets are lower amid continued uncertainty over the European sovereign-debt situation; the Nikkei falls 0.8%, the S&P/ASX declines 0.7%, the HSI slips 0.6%, the Kospi falls 0.2%, the Sensex declines 0.7%, the Shanghai Composite loses 1.2% and the NZX-50 slips 0.5%. In FX markets the EUR is steady against the USD and JPY […]
OIL ANALYSIS
Nymex crude prices jumped higher yesterday despite risk aversion creeping back into markets following the initial boost from the ECB’s LTRO tender which effectively added E489 billion liquidity to the EUROZONE, but the move is seen more as a temporary stocking filler for the next few months.
OIL ANALYSIS
Crude futures surged Wednesday after a government report showed a giant decline in U.S. oil stockpiles. The U.S. Energy Information Administration said U.S. crude inventories fell by 10.6 million barrels last week, the largest weekly drop in more than a decade. While crude stocks often fall at the end of the year, the size of […]
BOND ANALYSIS
German government bonds are trading little changed Wednesday ahead of the ECB’s inaugural 3-year LTRO. Bunds traded sharply lower yesterday following better than expected German Ifo business survey and strong Spanish 3-month and 6-month T-bill auctions with further tightening in EMU peripheral spreads as investors continued to purchase periphery bonds ahead of the ECB’s 3-year […]
NZ 3Q Current account deficit widens
New Zealand’s current account deficit widened sharply from the previous quarter in the three months to Sept. 30, and the likelihood that offshore pressures will weigh further on the country’s all-important export sector are increasing.
GOLD ANALYSIS
Spot gold had a relatively quiet session on Monday with the metal in consolidation mode after the heavy falls of last week. Volumes dropped back sharply with price movements subdued, despite an early fall in Asia following the death of North Korea’s leader Kim Jong Il.
OIL ANALYSIS
Nymex energy markets were relatively calm yesterday on the back of largely static FX markets despite the death of North Korean leader Kim Jong Il, which is triggering some uncertainty around the world.