• Home
  • About
  • For traders
  • For partners
  • Bonuses
  • Trading analysis
  • Contacts
Fort Financial Services - EN

Friday, 10 February 2017

What’s next? – GOLD, OIL 10.02.17

Posted by Fort Financial Services at 09:54 Labels: what’s next

GOLD
Gold prices eased in Asian trade on Friday as President Donald Trump promised to support the “One China” policy, which leaves the US out of the China-Taiwan relations.
The US leader and his Chinese counterpart Xi Jinping held a phone conversation in early hours, reducing tension between the two most powerful economies.
“President Trump agreed, at the request of President Xi, to honor our ‘One China’ policy,” wrote the White House in a statement.
On the Comex division of the New York Mercantile Exchange, gold for April delivery dropped 0.96 percent to trade at $1,224.90 an ounce as of 07:05 GMT.
China said January trade surplus moved to $51.35 billion, above the expected $47.9 billion. Exports increased 7.9 percent, while imports jumped 16.7 percent, both above forecasts.
On Thursday, the yellow metal extended gains amid growing political concerns in Europe, as market participants prepare for presidential elections in France, Germany and The Netherlands.
Trades are monitoring carefully the political sphere, as conservative far-right parties are threatening to shake Europe’s biggest economies by holding sovereignty referendums and leaving the Eurozone to impose their own currencies.
Next week, Fed Chair Janet Yellen will speak before the Senate Banking Committee regarding monetary policy and the economic outlook. Gold traders will pay close attention to her words in search for hints over new policy steps. Chances for a June rate hike stand at 60 percent.



OIL
Oil prices were higher in Asian trade on Friday amid upbeat Chinese trade data, while investors look ahead of demand/supply figures and the weekly oil rig count from Baker Hughes.
The Chinese government released January crude oil imports earlier today, reporting a build of 27.5 percent from a prior year 8.01 million barrels per day. Trade surplus established at $51.35 billion, surpassing the expected $47.9 billion. Exports jumped 7.9 percent and imports 16.7 percents, also above forecasts.
US West Texas Intermediate oil futures traded at $53.14 a barrel on the New York Mercantile Exchange, up 0.26 percent from its previous settlement. The London-based Brent crude oil futures rose 0.25 percent to $55.77 a barrel as of 07:05 GMT.
On the data front, energy-focused traders will keep an eye on two key events later in the day. The International Energy Agency is due to release its monthly supply and demand report, while oil service provider Baker Hughes will present weekly oil rig count as of 17:00 GMT.
Last week, Baker Hughes said oil rigs operating in US territory increased by 17 to a total count of 583 platforms, the highest level since November 2015.
On Thursday, oil benchmarks moved higher as lower gasoline inventories hinted a possible reduction of demand in the near future.
On Wednesday, the EIA reported a build in crude inventories by 13.83 million barrels for the week ended February 3, well above the expected increase of 2.8 million barrels. The American Petroleum Association had anticipated a 14.23 million barrels gain in stockpiles.

Fort Financial Services
Tweet

No comments :

Post a comment

Newer Post Older Post
Subscribe to: Post Comments ( Atom )

Blog Archive

  • September ( 2 )
  • August ( 1 )
  • July ( 1 )
  • June ( 7 )
  • May ( 2 )
  • April ( 2 )
  • March ( 5 )
  • February ( 8 )
  • January ( 14 )
  • December ( 3 )
  • November ( 11 )
  • October ( 10 )
  • September ( 4 )
  • August ( 10 )
  • July ( 3 )
  • June ( 5 )
  • May ( 12 )
  • April ( 12 )
  • March ( 38 )
  • February ( 34 )
  • January ( 36 )
  • December ( 16 )
  • November ( 36 )
  • October ( 27 )
  • September ( 34 )
  • August ( 58 )
  • July ( 58 )
  • June ( 35 )
  • May ( 92 )
  • April ( 69 )
  • March ( 69 )
  • February ( 63 )
  • January ( 48 )
  • December ( 27 )
  • November ( 78 )
  • October ( 104 )
  • September ( 113 )
  • August ( 119 )
  • July ( 53 )
  • June ( 107 )
  • May ( 49 )
  • April ( 53 )
  • March ( 54 )
  • February ( 46 )
  • September ( 1 )
  • August ( 24 )
  • October ( 4 )
  • September ( 6 )
  • August ( 3 )
  • July ( 6 )
  • June ( 3 )
  • May ( 1 )
  • April ( 1 )
  • March ( 6 )
  • February ( 4 )
  • January ( 4 )
  • December ( 4 )
  • November ( 4 )
  • October ( 3 )

Labels

  • what’s next ( 554 )
  • trading signals ( 230 )
  • Wall Street ( 197 )
  • Crypto ( 174 )
  • this is interesting ( 162 )
  • company news ( 94 )
  • motivation ( 78 )
  • weekly outlook ( 64 )
  • trading tips ( 52 )
  • fundamental review ( 48 )
  • politics ( 45 )
  • about us ( 43 )
  • success tips ( 34 )
  • promotion ( 32 )
  • Buy ( 14 )
  • sell ( 13 )
  • how to ( 12 )
  • Bonus.Welcome Bonus ( 10 )
  • Bonus ( 8 )
  • Equities ( 8 )
  • RateBattle ( 8 )
  • technical analysis ( 8 )
  • gold ( 7 )
  • stocks ( 7 )
  • no deposit bonus ( 6 )
  • Cash4Signal ( 3 )
  • deposit bonus ( 3 )
  • Contest ( 2 )
  • Welcome Bonus ( 2 )
  • 10% cashback ( 1 )
  • Weekly trading ( 1 )
  • Weekly trading statistics ( 1 )
  • no deposit bonus! ( 1 )

© Fort Financial Services - EN 2017 .