This time it was the US data on Manufacturing that fell; and that too for the first time in about 3 years. Recently weak data has been appearing on the statistics bulletin for both Asia and Europe, suggesting that the EU debt crisis is causing global economy to slow down. This helped in raising the…Read more
Euro
EURO Currency in danger
Crude oil fell below $80 which is measurably low from earlier prices in March of $100 per barrel and above. George Soros, the billionaire influential Wall Street whiz cautioned to the EU leaders that failure to take emergency notice of the EU debt crisis might led to the falling apart of the EU currency which…Read more
The twist of ‘Operation Twist’
Crude oil prices hit an 8.5 month low and gold lowered in price as well. Silver also followed the downturn. The FMOC meeting results were anticipated but they turned out to be a disappointment. Fed did not issue third quantitative easing under the program ‘Operation Twist’. Then during the night China announced weaker manufacturing data…Read more
PESSIMISM REIGNS OVER THE MARKET
Investors were expecting the Fed to announce a fresh quantitative easing especially after recent U.S employment data showed a fragile market. However Fed Chairman gave no such indication which led to pessimism in the market for Gold causing its price to decline. Silver on the other hand rose by 2.9%. The euro to dollar fell…Read more
Trading with Options – Lessons learnt from a failed trade
Nothing worthwhile in life is worth doing part time. If you want to be a trader you need to be a full time trader. Being a part-timer will just get you hammered in so many more ways than you can even imagine. Don’t leave Good Till Cancelled (GTC) orders and go to sleep for two…Read more
Summer Internships – Reading and preparatory material
So if you have nothing else to do over the long and lonely weekend other than mourn your losses in your USO June 19 call options, here is a short list of online courses that you can put the day break into good use for your summer internships prep. Asad, please feel free to pass…Read more
Crude Oil outlook – Fitch downgrades Spain, Euro slides, Oil to follow…
Fitch downgraded Spain by a notch and the Euro goes on a weekend slide to 1.2297 to a US dollar. With the flat consumer spending numbers released earlier Friday, it looks as if it really is going to be a long weekend. Crude Oil to follow next?
Crude oil price outlook – Oil futures stable over US$ 75 a barrel.
It appears that we will have another gap open when it comes to Oil on Friday morning when trading opens in New York. Oil futures at NYMEX are trading above US$ 75.38 a barrel for July deliveries. While the 4 day week starting Tuesday as well as the month end may weigh on trading and…Read more
Crude oil trading, forecasts – Crude Oil Data, Hurricane season and holidays
As trading desks in New York and Europe open, they will face an interesting choice – head out early and avoid the traffic queued up for the long weekend or stay back and catch some action? Some markets in Asia (Singapore, Thailand) were closed for the day Friday; the US is closed on Monday, 31st…Read more
Crude oil price outlook – Crude oil futures close at 74.90 on NYMEX
Crude oil future contracts for July deliveries closed Thursday at 74.90 at NYMEX capping a second day of gains after a 3% gain yesterday.