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

Monday, 11 September 2017

What’s next? – GOLD, OIL 11.09.17

Posted by Anonymous at 11:52 Labels: what’s next

GOLD

Gold prices were down in early trading hours on Monday as North Korea did not launch a new missile test over the weekend and market participants understood hurricane Irma was not as strong as initially predicted by experts.

On the Comex division of the New York Mercantile Exchange, gold futures were trading 0.80 percent or $10.80 up at $1,340.40 a troy ounce as of 06:30 GMT.

North Korea celebrated the 69th anniversary of its founding on Saturday. Military analysts said Kim Jong Un could use such day to test a new ballistic missile.

Tensions in the Korean peninsula reached a record high last week after Pyongyang tested a nuclear bomb atop a long-range ballistic missile. The US asked to impose an oil ban against North Korea and freeze all Kim Jong Un assets overseas.

Hurricane Irma made landfall in Florida on Sunday morning, cutting energy supplies to almost 2.5 million residents and with more than 5 million people ordered to leave their homes.

The United States is not the first stop of this storm, which left several casualties in the Caribbean over the last week. Yesterday, Irma is a Category 4 storm on the five-step Saffir-Simpson scale and it brought to coast winds of 130 miles per hour.

On the data front this morning, Japan reported an 8.0 percent increase in core machinery orders for July vs a 4.4 percent estimated advance.

Last week, the yellow metal settled in green territory, near one year peak as the greenback eased on the back of smaller chances for a third Federal Reserve rate hike this year.

The key macroeconomic event this week will be the release of inflation data in the United States. Such figures will serve market players to reassess the future of monetary policy.

The precious metal also came under pressure due to the rebound of the greenback. The US dollar index was 0.19 percent higher at 91.50 by the time of this writing.

OIL

Oil futures edged higher in Asian hours on Monday as market participants realised the impact of hurricane Irma was not as damaging as initially forecasted and awaited strong crude demand from China in the light of a more solid yuan.

The US West Texas Intermediate crude futures were trading 0.86 percent higher at $47.89 per barrel as of 05:35 GMT, while the London-based Brent contracts were up 0.52 percent to trade at $54.06 per barrel on the ICE Futures Exchange.

Hurricane Irma made landfall in Florida on Sunday morning, cutting energy supplies to almost 2.5 million residents and with more than 5 million people ordered to leave their homes.

The United States is not the first stop of this storm, which left several casualties in the Caribbean over the last week. Yesterday, Irma is a Category 4 storm on the five-step Saffir-Simpson scale and it brought to coast winds of 130 miles per hour.

The Chinese yuan rose to its highest level since mid-2016 against the dollar earlier in the session, which is great news for dollar-priced commodities imported by the Asian giant.

A stronger yuan makes those purchases cheaper, allowing buyers to increase the size of their orders or at least reduce costs to promote local growth.

Ahead in the week, traders will focus on fresh inventories reports from the American Petroleum Institute (API) on Wednesday and official figures from the US Energy Information Administration (EIA) on Thursday. Baker Hughes will release its weekly oil rig count on Friday.

Also, the Organization of Petroleum Exporting Countries (OPEC) and the Paris-based International Energy Agency (IEA) are due to present their monthly reports on global oil supply and demand, which provides investors with a clearer picture of future market conditions.

Fort Financial Services
Tweet

No comments :

Post a Comment

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

Blog Archive

  • 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 ( 553 )
  • trading signals ( 230 )
  • Wall Street ( 197 )
  • Crypto ( 174 )
  • this is interesting ( 162 )
  • company news ( 93 )
  • 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 )
  • deposit bonus ( 3 )
  • Cash4Signal ( 2 )
  • Contest ( 2 )
  • Welcome Bonus ( 2 )
  • 10% cashback ( 1 )
  • Weekly trading ( 1 )
  • Weekly trading statistics ( 1 )
  • no deposit bonus! ( 1 )

© Fort Financial Services - EN 2017 .