Monday, 26 February 2018
What’s next? – GOLD, OIL 26.02.18
GOLD
Gold traded in green territory on Monday, recovering from its worst week in more than two months as the American currency eased against major rivals.
The US dollar index, which measures the greenback against six major currencies, was trading 0.24 percent lower at 89.60 by the time of this writing.
The dollar-denominated metal is sensitive to changes in the US currency. A stronger greenback makes the metal more expensive, less attractive for holders of foreign currencies.
Market players are currently focused on a speech by Federal Reserve Chair Jerome Powell before Congress, which is scheduled on Tuesday as of 15:00 GMT.
Investors are trying to get a closer look at the future plans of the US regulator concerning interest rates. At the time, the benchmark rate stands in a range between 1.25 and 1.50 percent.
On the Comex division of the New York Mercantile Exchange, gold futures were down 0.88 percent at $1.342.00 a troy ounce as of 06:15 GMT.
Last week, the yellow metal ended 1.4 percent lower as the dollar was widely supported by minutes of the latest Federal Open Market Committee monetary policy meeting.
According to Fed funds tracked by CME Group’s FedWatch program, market participants are currently weighing an 85 percent probability of a 25 basis-point rate hike by March.
Ahead in the day, FOMC member Bullard and Quarles are due to speak at 13:00 GMT and 20:15 GMT respectively. On the data front, new home sales for Jan are up at 15:00 GMT.
OIL
Oil benchmarks were up in early trading hours on Monday, as a fresh report from Rystad Energy forecasted a 20 percent drop in output in East and Southeast Asia between 2017 and 2025.
The US West Texas Intermediate crude contracts were up 0.46 percent to $63.84 per barrel as of 06:30 GMT. Meanwhile, Brent futures rose 0.28 percent to $67.50 a barrel.
According to the document, total oil production in East and Southeast Asia is expected to fall from 13.1 million barrels of oil equivalent (BOE) per day to 10.4 million BOE/D by 2025.
The lack of new oil discoveries in the region, along with the maturity of the oil fields already in place seem to be the causes of this trend. The limited number of sources is a key factor now.
Despite a weaker production seen, demand for crude and refined products in East and Southeast Asia continues to build, with China leading among buyers.
The Paris-based International Energy Agency estimates that China will produce an average of 3.8 million barrels per day (bpd) in 2018, which would be only 0.5 million bpd less than in 2015.
Ahead this week, market players will be focusing on the release of crude and refined products stockpiles on Tuesday and Wednesday and the weekly rig count on Friday.
Attention will also be directed to the dollar’s dynamic, which has the power to control quotes as commodities are denominated in this currency.
A stronger greenback makes contracts more expensive for investors holding foreign currencies, dampening interest on the commodity.
The US dollar index, which measures the greenback against six major currencies, was trading 0.24 percent lower at 89.60 by the time of this writing.
I really like this kind of content. Hope to see much more here. Bye!
ReplyDeleteWhat’s next? It's such a great post because your post title really fantastic. Keep posting.
ReplyDeletepest control langley bc
Buy punisher xtc pills
ReplyDeleteWe boast multiple facilities in the USA, Canada, Europe, and Australia striving to make high-quality meds accessible to everyone. As an alternative, this website has been created to provide you with a highly convenient way of shopping where you can buy drugs online in a few clicks. From now on, you can place orders on the web, pay for them from the comfort of your home, and have all sought-after medications delivered to your doorstep.Everything is that easy! Buy Ecstasy and MDMA Pills Online
ReplyDeleteBuy punisher xtc pills
Craigslist Inogen One g4
ReplyDeletePermanent Retainer
Best Paintball Gun
Buy Dermal Fillers Online
Lovely Amazing Informative Article
ReplyDeletepentobarbital mail order, buy driving licence,
david kirwan Yellowstone
ReplyDeleteSandal
ReplyDeleterichest musicians in the world
ReplyDeletemost accurate football prediction website
Buy Golden Teacher Mushrooms
ReplyDeleteplug and play price
ReplyDeleteplug n play flavors
Golden Teacher Mushrooms
ReplyDeleteAll Accessories buy on zgspirit.com like our best to buy product
ReplyDeleteknit men sweater
gilet jacket
men accessories
Searching for site area and facilitating? Get a comprehensive arrangement and go live immediately!, Fast, adaptable and secure facilitating. With 99.9% uptime ensured. Improve facilitating now!
ReplyDeleteWeb facilitating is the most common way of utilizing a server to have a site, and there are a wide range of various sorts of facilitating accessible out there available.
canadian web hosting companies
cheap canadian web hosting
Computerized Marketing Agency (DMA) is a web promoting organization that offers SEO administrations, PPC administrations, web-based media advertising administrations, website composition administrations, How would you transform these internet based shoppers into paying clients? With top of the line web promoting administrations from an honor winning internet showcasing organization then, at that point, reach us.
ReplyDeleteinternet marketing agency
Explore pest control langley, Just visit our website omnipestcontrol.ca and explore pest control services (exterminator langley).
ReplyDeletehttps://www.omnipestcontrol.ca/blog/dos-and-donts-of-pest-control/
#PestControlLangley
#ExterminatorLangley
This article has been so valuable! I have been taking .25mg of ativan reliably for the last year for anxiety. I've been feeling horrible these digital marketing agency a few months with ludicrous brandxevo digital marketing agency anxiety and shaking every day and throughout the span of the day, frontal cortex fog, nausea and dry flinging every day.
ReplyDeleteIncredible post yet I was thinking about whether you could make a litte slanting Android Apps to Add Text to Photos more toward moonrock clear carts this subject? I'd be especially thankful if you could explain to some degree further. Feel an obligation of appreciation!
ReplyDeleteIt is a fascinating post. I truly agree with you when you express that on numerous events what has been said in the name isn't all the significant data while examining food supplements.
ReplyDeleteAt various times, customers just neglect to see what kind of thing are they consuming considering the way that everything is written in a non-sensible (like substance recipes). It is really basic to make sense of what are we eating earpods price in pakistan
NFT game development
ReplyDeleteOpensea clone script
Axie infinity clone script
Zed run clone script
Whitelabel NFT Marketplace Development Company
NFT Development Company
Metaverse Development Company
Metaverse NFT Marketplace Development Company
It is an intriguing post. I truly agree with you when you express that on numerous events what has been said in the name isn't all of the significant data while examining food supplements. Various times, customers basically neglect to see what kind of thing are they consuming considering the way that everything is written in a non-sensible (like substance recipes). It is genuinely basic to make sense of what are we eating!
ReplyDeletexiaomi redmi 10c