Gold and silver prices slipped, as the Chinese Central Bank increased the Reserves Requirement Ratio, oil prices tumbled and the US Dollar regained in value. Gold futures for June delivery fell by 0.21 percent to USD $ 1503.70 an ounce. Silver futures fell by 0.15 percent to last settle at USD $ 34.745 an ounce….Read more
Oil Price Update-IEA Reduces Projected Growth in Oil Demand, Futures Decline
Oil futures declined on the back of signs that the high oil prices were eating into the global demand of oil and were also affecting the recovery of the global economy. WTI crude futures fell by 0.37 percent to USD $ 98.60 a barrel, while Brent futures decreased by 0.02 percent to USD $ 112.96…Read more
Tracking Correlations: Risk, Trailing correlations, correlation coefficients and Trading decisions
Agnes recently did a lot of work in putting together a short course on correlations from a risk and trading point of view. Unlike the boring text book stuff, there are some interesting lessons and applications here if you want to track correlations over a period of time as a trader or risk manager. This…Read more
US Business Inventories and Retail sales rise: Is it growth, inflation or the 15% oil price hike at work
Interesting questions being posed on the 1+% growth in US business inventories and the 2+% increase in US retail sales. Is it really growth or the impact of QE2 plus the rise of 15% in oil prices in the month of April 2011. Given everything else that has been happening in the last two weeks,…Read more
Currencies Exchange Rate Update-Euro Advances, AUD Falls
The Euro advanced against 12 of its 16 counterpart currencies, including the US Dollar, as optimism about a healthy growth in the European economy overtook concerns about the region’s debt crisis. The Euro-USD exchange rate rose by 0.1439 percent to USD $ 1.4212. The EU’s economy grew at an annual rate of 2.2 percent in…Read more
Gold and Silver Price Update-Gold Rises on Inflation & European Debt Crisis Concerns
Gold and silver advanced on account of rising levels of inflation and the European Debt Crisis. Gold futures gained 0.23 percent to be at USD $ 1504.90 an ounce, while silver futures added 0.03 percent in their value to be at USD $ 35.525 an ounce. Inflation continues to remain high in several economic powerhouses,…Read more
Oil Price Update-WTI Advances on Concerns of Supply Disruption Due to Flooding of Mississippi River
Crude oil advanced after the three-day low of USD $ 98.21 which it plunged to yesterday. WTI crude futures recovered by 1.31 percent to USD $ 99.50 a barrel. After unexpectedly falling by 5.5 percent on account of data which showed that contrary to expectations, US Gasoline stocks increased instead of decreasing in anticipation of…Read more
Oil price update: US Stockpile and Gasoline inventories climb – commodities and precious metals tumble
Yesterday’s crude US stockpile and inventory update was heard around the world. While analysts expected crude inventories to rise, gasoline inventories were expected to dip in anticipation of the summer driving season. However demand for petroleum products at the gas pump in the US was not just flat but down. U.S. crude oil stocks rose…Read more
Currencies Exchange Rate Update- Yen Depreciates, USD Rises
The Yen depreciated against other major currencies, as a recovering global economy reduced the demand of safe-haven currencies such as the Yen and the Swiss Franc. The USD-JPY exchange rate rose by 0.0399 percent to 80.9155 Yen. Also, the strong economic news helped in appreciating the US Dollar against the Euro. The Euro-USD exchange rate…Read more
Gold and Silver Price Update-Commodities Register Increases as Inflation in China rises
Gold and silver made advances because the risings level of interest in China, coupled with renewed fears about Greece defaulting on its external dept, have increased the demand for these precious metals as safe-havens. Silver future advanced by 1.47 percent to USD $ 39.05 an ounce. Gold futures increased by 0.40 percent to USD $…Read more