Major commodities were traded again in a mixed trend on the third business day of the week: Brent oil and WTI oil bounced back on Wednesday; natural gas Henry Hub future (short term delivery) rallied again yesterday; silver and gold prices plunged on Wednesday; the Euro also slipped against the USD on Wednesday. On the other hand, several currencies such as the Aussie dollar appreciated against the U.S dollar. Here…
Based on the latest producer price index monthly report, which was published yesterday, the PPI for finished goods sharply fell again by 0.7% in April compared with March’s index. This report serves as an indicator for the changes in the U.S CPI to be published today. This is the second month this year in which the PPI fell. Last month, the PPI fell by 0.6%. On an annual scale, the…
Major commodities were traded in a mixed trend on the first business day of the week: Brent oil and WTI oil declined on Monday; natural gas Henry Hub future (short term delivery) slightly rose yesterday; silver rose while gold price slipped on Monday; the Euro also declined against the USD on Monday. Further, several currencies such as the Aussie dollar depreciated against the U.S dollar. Here is a summary of…
Retails and foods services sales changed direction and slightly rose for the fifth time in six months; the index edged up during April 2013 by 0.1% compared with March’s sales and also remained above the sales at April 2012. The U.S. Department of Commerce (pdf file) published yesterday its monthly update on the developments in the U.S. retail and food sales for April 2013. This report adjusts for seasonal variances…
Major commodities including oil, natural gas, gold and silver declined during most of last week. Leading “risk related currencies” such as the Aussie dollar and Euro also fell last week. Will commodities rally this week? In the upcoming week several reports, events and speeches may affect the financial markets. These include: Bernanke’s speech, U.S CPI, Philly fed survey, EU GDP for Q1 2013, U.S housing starts, Canada’s manufacturing sales, Germany’s…
The prices of crude oil (both WTI and Brent) didn’t do much during last week: WTI increased by 0.45%; Brent oil slipped by 0.27%. As a result, the gap between the Brent oil and WTI shrank again; the premium of Brent over WTI ranged between $7 and $8. According to the latest EIA report, oil stockpiles rose by 3.5Mb. Moreover, refinery inputs and production increased while imports fell during last…
Major commodities were traded mostly down on the fourth business day of the week: Brent oil price slightly rose while the price of WTI oil fell on Thursday; natural gas Henry Hub future (short term delivery) remained virtually unchanged yesterday; silver and gold prices fell on Thursday; the Euro also declined against the USD on Thursday. Moreover, several currencies such as the Aussie dollar depreciated against the U.S dollar. Here…
In the past couple of weeks the price of oil has slowly recovered from its downward trend it had during April. Will the price break the $100 in the near future? How the recent developments in the oil market affect leading oil producers? Let’s examine the recent changes in the oil market and try to determine what’s up ahead for oil. During May (up to date), the price of oil…
Major commodities prices mostly trade down on the second business day of the week: the prices of Brent and WTI oil changed direction and fell on Tuesday; natural gas Henry Hub future (short term delivery) sharply decreased yesterday; silver and gold prices also fell on Tuesday; the Euro slightly rose against the USD on Tuesday. On the other hand, several currencies such as the Aussie dollar depreciated against the U.S…
Major commodities prices moved in a mixed trend on the first business day of the week: the prices of Brent and WTI oil rallied again on Monday; natural gas Henry Hub future (short term delivery) slightly decreased yesterday; silver price slipped while gold prices rose on Monday; the Euro slightly fell against the USD on Monday. Moreover, several other currencies such as the Aussie dollar also depreciated against the U.S…
