Wednesday 31 January 2018

Oil Prices Continue Lower Ahead of EIA Weekly Supply Report-SapForex24

crude futures slumped 44 cents, or 0.7%, to $64.06 a barrel by 3:45AM ET (0845GMT), its lowest level in around a week. On Tuesday, the U.S. benchmark fell $1.06, or 1.6%, to $64.50 a barrel.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 42 cents, or roughly 0.6%, to $68.10 a barrel, after losing 68 cents, or 1%, a day earlier.

In other energy trading, gasoline futures dropped 0.2% to $1.851 a gallon, while heating oil shed 0.4% to $2.059 a gallon.


Natural gas futures sank 13.5 cents, or 4.3%, to $3.059 per million British thermal units, as updated weather forecasting models called for milder weather, which should dampen demand for the heating fuel.

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Tuesday 30 January 2018

Gold Prices Continue Lower as Markets Await Fed, Trump-SapForex24

Comex gold futures were down around $6.00, or 0.5%, to $1,334.40 a troy ounce by 3:10AM ET (0810GMT). It fell to a one-week low of $1,332.80 in overnight trade.

Meanwhile, silver futures shed 6.2 cents, or 0.4%, to $17.06 a troy ounce, after tumbling 31.4 cents, or 1.8%, a day earlier.

Gold futures lost 0.9% on Monday as the dollar extended its rebound from a three-year nadir and benchmark Treasury yields cleared their highest level since April 2014.


The dollar continued higher, rising almost 0.3% against a basket of six major currencies to 89.44 in early trade, having pulled up from a low of around 88.25 set last week, its weakest level since December 2014.
In other metals action, palladium prices slumped 1% to $1,072.15 an ounce.

Sister metal platinum meanwhile dropped 1.6% at $996.40 an ounce. March copper shed 0.9% to $3.166 a pound.

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Monday 29 January 2018

Dollar index holds steady as markets await Trump's speech and Fed-SapForex24

The dollar held above a recent three-year low against a basket of major currencies on Tuesday, with traders turning their attention to U.S. President Donald Trump's State of the Union speech and a Federal Reserve policy meeting for catalysts.

The dollar rose 0.1 percent against a basket of six major currencies to 89.430, having pulled up from a low of around 88.43 set last week, its weakest level since December 2014.

Analysts said a renewed rise in U.S. bond yields this week lent some support to the dollar. The U.S. 10-year Treasury yield reached a peak of 2.733 percent in Asian trading on Tuesday, the highest since April 2014, and last stood at 2.712 percent.


The euro eased 0.1 percent to $1.2373, edging away from a three-year high of $1.2538 touched last week.
Trump said on Monday he will address his proposed immigration overhaul in his State of the Union speech as well as his efforts to lower trade barriers around the world for American exports.

The president will also outline his much-anticipated infrastructure plan in the speech.

Against the yen, the dollar eased 0.2 percent to 108.78 yen, edging back in the direction of a 4-1/2 month low of 108.28 yen set on Friday.

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Oil Prices Start the Week Near Recent Highs Amid OPEC Optimism-SapForex24

U.S. West Texas Intermediate (WTI) crude futures inched up 19 cents, or 0.3%, from their last close to $66.33 a barrel .

The U.S. benchmark reached its best level since Dec. 4, 2014 at $66.66 last Thursday.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 11 cents, or roughly 0.2%, to $70.04 a barrel. The contract touched $70.78 on Thursday, a level not seen since Dec. 2014.


gasoline futures held steady at $1.925 a gallon, while heating oil shed 0.4% to $2.119 a gallon.

Natural gas futures sank 7.9 cents, or 2.5%, to $3.095 per million British thermal units, as updated weather forecasting models called for milder weather next week.

The commodity soared about 10% last week, as traders reacted to a blast of cold weather which upped demand for the heating fuel.

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Wednesday 17 January 2018

Gold Prices Back Off 4-Month Highs as Dollar Rebounds-SapForex24

Comex Gold futures were at $1,335.50 a troy ounce by 3:25AM ET (0825GMT), down around $2.00, or 0.1%, from the last session's closing price. It hit the best level since Sept. 8 at $1,345.00 a day earlier.
silver futures were little changed at $17.19 a troy ounce. It reached a three-month high of $17.42 on Monday.

The dollar index, which gauges the U.S. currency against a basket of six major rivals, inched up from a more than three-year low. It was last at 90.38, after dropping as low as 89.98 on Tuesday, its deepest nadir since December 2014.


palladium prices tacked on 0.7% to $1,096.60 an ounce. It marked a record-high of $1,133 on Monday thanks to soaring demand for the auto industry.

Sister metal platinum meanwhile inched up 0.2% to $1,006.40 an ounce, after touching its strongest since Sept. 8 at $1,012.50 in overnight trade.

March copper dipped 0.6% to $3.201 a pound.

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Monday 15 January 2018

Oil Prices Hold Near 3-Year Highs; U.S. Drilling, OPEC Cuts in Focus - SapForex24

U.S. West Texas Intermediate (WTI) crude futures tacked on 8 cents to $64.38 a barrel.It rose to its highest since Dec. 2014 at $64.77 last Thursday.

In other energy trading, gasoline futures held steady at $1.847 a gallon, while heating oil was little changed at $2.084 a gallon.


Natural gas futures declined 4.6 cents, or 1.5%, to $3.154 per million British thermal units. It soared nearly 15% last week, after data showed the largest withdrawal on record in U.S. supplies in storage.

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Thursday 4 January 2018

Forex - Dollar Dips after Fed Minutes, Upbeat U.S. Data-SapForex24

The dollar dipped on Thursday after ending the previous session higher as upbeat U.S. data and the minutes of the Federal Reserve’s latest policy meeting helped it recover from recent losses.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged down 0.07% to 91.83 by 02:58 AM ET (07:58 AM GMT).

On Tuesday, the index had fallen to three-and-a-half month lows of 91.47.
The euro moved higher, with EUR/USD rising 0.17% to 1.2035 after losing around 0.4% on Wednesday. The single currency had hit a four-month high of 1.2080 on Tuesday, putting it within striking distance of a September peak of 1.2092, its strongest level since early 2015.



The dollar was little changed against the yen, with USD/JPY at 112.54, having pulled up from Tuesday’s two-and-a-half week lows of 112.04.

The pound was steady, with GBP/USD at 1.3520 after sliding 0.57% the previous day to pull back from a three-and-a-half month high of 1.3612.

Meanwhile, the Australian and New Zealand dollars were higher, with AUD/USD rising 0.22% to 0.7852 and NZD/USD adding 0.47% to trade at 0.7123.

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