US Data Evidenced Strong Growth Momentum

Posted December 15th, 2017 by GaylePli9390244 and filed in General News

US dollar weakened across the board despite the generally strong dataflow. This was perhaps because the focus was instead on the ECB and BOE meetings. While both central banks left the monetary policies unchanged as widely anticipated, the ECB was more upbeat over the economic outlook and upgraded the GDP growth and inflation forecasts. Meanwhile, the BOE acknowledged the progress of the Brexit negotiations.

More here:
US Data Evidenced Strong Growth Momentum

FOMC Hiked Rates as Expected, Three More in 2018

Posted December 14th, 2017 by CoryMudie320 and filed in General News

FOMC, as expected, raised the policy rate, by +25 bps, to the 1.25-1.5% range in December. However, the decision was made with Neel Kashkari and Charles Evans (both are doves) dissenting. The fed also upgraded the economic outlook, raising GDP growth forecasts and lowering the unemployment rate for the next year. Inflation would likely stay below the +2% target for the coming year.

See original here:
FOMC Hiked Rates as Expected, Three More in 2018

Oil Retreated on Profit-Taking; Market Holds Breath as FOMC Announcement Approaches

Posted December 13th, 2017 by LeonardoSchweitz and filed in General News

Oil prices retreated on profit-taking, after Brent crude prices soared to the highest level in more than 2 years. The decline was contained after a report showing US inventory slumped last week. For the first time in 4 days, the front-month Brent crude contract fell -2.09%, settling at 63.34, at close. The corresponding WTI contract dropped -1.47% for the day. Base metals were mixed.

The rest is here: 
Oil Retreated on Profit-Taking; Market Holds Breath as FOMC Announcement Approaches

Brent Prices Soared to Highest in Over 2 Years on Pipeline Shutdown

Posted December 12th, 2017 by JohnieAble and filed in General News

Brent crude oil prices extend the rally to a new 2.5-year high in Asia Tuesday, after soaring +2.03% on the prior day as the North Sea’s Forties Pipeline system reportedly shut down. WTI crude oil prices were also helped by the news with the front-month contract adding +1.1% for the day. Prices of base metals rebounded as traders awaited China’s macroeconomic data in November.

Continued here:
Brent Prices Soared to Highest in Over 2 Years on Pipeline Shutdown

Busy Week Ahead: FOMC, ECB, BOE, SNB and Chinese Data

Posted December 11th, 2017 by CXZVallie7901 and filed in General News

We have a busy week ahead. The 2-day FOMC meeting ending on Wednesday would bring the third rate hike for this year. While this move has been fully priced in, the market interest would be on the economic and risk assessment. We expect policymakers to turn more upbeat on the growth outlook with the job market continuing to improve. They should, however, remain cautious over the inflation outlook.

See original here: 
Busy Week Ahead: FOMC, ECB, BOE, SNB and Chinese Data

Weekly Fundamentals – Base Metal Prices Slumped on Concerns over Tightening in China

Posted December 9th, 2017 by CharliQmj7240359 and filed in General News

The selloff in base metals last week was broadly based. While was the worst performer (LME zinc contract for 3-month delivery sank -5.12%), what caught most attention was copper (down -3.83%). Despite recovery after a sharp decline on Tuesday, copper price has continued hovering around the lowest level since October. In our opinion, rising inventory, concerns over tightening in China…

View original here:
Weekly Fundamentals – Base Metal Prices Slumped on Concerns over Tightening in China

Congress Passed a Spending Bill To Avert Government Shutdown Before Christmas

Posted December 8th, 2017 by KathaleenBarkly and filed in General News

As the last-minute decision, the House voted 235-193, and the Senate voted 81-14 an hour after, to pass a stopgap spending bill, allowing the government to continue running until December 22. US dollar firmed against major currencies with the exception of the euro and sterling. The DXY index added +0.19% for the day. US Treasury yield curve was less flat …

Go here to read the rest:
Congress Passed a Spending Bill To Avert Government Shutdown Before Christmas

Soaring Gasoline and Distillate Stockpiles, and Crude Oil Production, Signals Demand Receding

Posted December 7th, 2017 by AnaTroweryousji and filed in General News

Surprising US stock-builds weighed on oil prices, sending the front-month WTI and Brent crude oil contracts down, by -2.88% and -2.61%, respectively. For refined oil products, the Nymex heating oil and RBOB gasoline contracts plunged -2.75% and -3.35% for the day. In the FX market, Canadian dollar was the worst performer against US dollar, amongst other major currencies.

View original here:
Soaring Gasoline and Distillate Stockpiles, and Crude Oil Production, Signals Demand Receding

Base Metals Plunged on Profit-Taking. Aussie Reversed Gains

Posted December 6th, 2017 by HUWJimmy11389 and filed in General News

Base metals declined across the board with copper and nickel prices sank more than -4%. The selloff was mainly driven by year-end profit-taking, using an excuse of inventory increase. The LME copper contract, for delivery in March, slumped to 2 months’ low of 6507.5 before settling at 6 543, down -4.51%. The latest data shows that copper inventory in LME warehouse rose 10.65K tonnes to 192.55K tonnes.

See original here:
Base Metals Plunged on Profit-Taking. Aussie Reversed Gains

Tax Reform Might Boost US Oil Investment, Bad for Prices

Posted December 5th, 2017 by TrenaTeece and filed in General News

Oil prices steadied after the selloff on Monday. It appears to be a tug of war between optimism over OPEC/ non-OPEC’s extension of output cut deal until end-2018 and ongoing concerns over US’ production. Worries for the latter could be exacerbated by the US tax reform. Currently trading at 57.5, the front-month WTI crude oil contract settled at 57.47, dropping -1.53% yesterday.

See original here: 
Tax Reform Might Boost US Oil Investment, Bad for Prices