Crude oil and gold price update: Oil on the rise while gold declines

Crude oil, as we expected yesterday, continued its rally on Tuesday on the back of strong data from the Chinese economy and on the high expectations of second round of quantitative easing this week, especially after the quarterly US GDP figures showed less than expected growth last Friday. Light sweet crude oil for December delivery…Read moreRead more

Crude oil price insight: Oil rises with reports of increased China’s PMI and weak dollar

China Federation of Logistics and Purchasing released the official PMI for China today, which showed an increase in its PMI of 0.9, rising from 53.8 in September to 54.7, indicating strong growth. HSBC China manufacturing PMI was also released today which showed an increase from 52.9 to 54.8. This increase in China’s PMI left a…Read moreRead more

USD price insight: 50 factors that affect the value of the USD

A very good link which talks about a number of factors that determine the value of the US dollar: http://www.currencytrading.net/2007/50-factors-that-affect-the-value-of-the-us-dollar/ So next time you need to determine the outlook for USD, consider the outlook of these factors to determine which the USD is most likely to move.

Silver price update: Silver on the rise

Silver was seen to be having a bullish trend in today’s trading in the Asian market. Silver for December delivery was trading $0.411 or 1.67% higher at $24.975 per troy ounce at 0632 GMT in the Globex e-trading session. Weak USD has been responsible for this recent increase in the price of precious metals. At…Read moreRead more

Crude oil review: Week in review

Crude oil prices last week saw considerable fluctuations, mostly because of the uncertainty over the size of QE2 which overshadowed the market the whole week. Such was the volatility in the price of crude oil that the week saw price of crude oil for December delivery above $83/barrel and below $81/barrel as well. At 0323GMT,…Read moreRead more

AUD price update: AUD fluctuating with USD

Uncertainty in the USD affected the AUD-USD exchange rate on Friday. The market is still unsure about the size and scope of QE2 and its effects on the USD which should be clear after the Fed’s meeting next week. This uncertainty can be witnessed from the USD and was also the main reason for fluctuations…Read moreRead more

Silver price update: Silver finished up on Friday

Friday’s US GDP report showed a modest increase in the third quarter’s GDP of 2%. Though the figure increased from the second quarter’s figure of 1.7% but was still less than what the economists expected to be 2.1%. This had an impact on the prices of gold which saw a bullish trend on Friday and…Read moreRead more

Crude oil update: Oil down and gold up after GDP report

Much awaited US quarterly GDP figures were released by the US Commerce Department on Friday. The report showed modest US economic growth for this quarter of 2% which is greater than the previous quarter’s figure of 1.7% but less than the economists estimated figure of 2.1%. This modest increase in the GDP impacted the price…Read moreRead more

Crude oil update: Market waits for the release of GDP quarterly figures and Fed’s meeting

Crude oil fell in Asian trade today as the investors behaved cautiously ahead of Fed’s meeting next week and release of US quarterly GDP figures today. We believe that the release of quarterly GDP figures by US Commerce Department today will determine the oil demand outlook but these figures will not leave a very aggressive…Read moreRead more

Crude oil update: Oil and gold up on the back of weak dollar and strong US data

Light sweet crude oil for December delivery went up by 24 cents, or 0.3%, to settle at $82.18/barrel receiving lifts from a weak USD and a decrease in the US weekly jobless claims data. It traded between $81.50 to $82.64/barrel while the trading volume on Thursday was the lowest for this year as the investors…Read moreRead more