Market Overview oil 12.06.09
Dynamics
Friday quotes black gold fell slightly after reaching a maximum prior to the first eight months of a mark above 73 dollars per barrel.
At the New York Stock Exchange NYMEH cost of the July futures on U.S. light crude oil mark Light Sweet fell by 64 cents. Thus, its price was 72.04 dollars per barrel.
The July futures on oil brand Brent fell to 70.52 dollars per barrel.
Causes
The reasons for the new correction again lie in the dynamics of exchange. U.S. Dollar in recent days, a little stronger, causing a wave of profit from the fixation of speculators in commodity markets. Nevertheless, the aggressive movement down the current motion is not called. The point is that for the first time in the last 10 months, the International Energy Agency has increased by 120 thousand barrels per day projected level of oil consumption in the world for the current year. As a result, according to published them today, a new assessment in 2009 the world economy will consume per day 83.3 million barrels. The main reason analysts have called the agency a substantial increase in oil consumption from the United States and China. This gave rise to the next talk of an early exit from the world economic crisis.
What to expect?
Despite the moderately optimistic projections for the consumption of raw materials from the IEA, in fact as a glut in the U.S. and Western Europe remains at a fairly high marks. As a result, a possible trend towards the strengthening of the dollar correction will be continued.
What is fear?
Speculative sentiment on global platforms are very strong. Against this backdrop, further drive the top quotes of raw materials is not a lot of work, the more that the overall situation in world markets for this is. Frankly adverse factors in recent months does not appear, while others are largely built into the price. Thus, when you light these positive increases in the price of black gold may well continue.
Review precious metals market for 12.06.09
Dynamics
Quotations of precious metals continued to decline. At the end of the day on the gold spot market closed below the U.S. $ 940.00 per troy ounce, while silver nearly reached the minimum 14.75 dollars per ounce.
Causes
The decline of precious metals is directly related to the dollar. For a number of circumstances, the U.S. currency has resumed growth. Its consolidation tends to put pressure on commodity prices, which are denominated in dollars, as this makes them more expensive in other currencies, which reduces demand. As a result, the quotations of precious metals markedly decreased.
What to expect?
Given that the dollar continues to strengthen its advantage, the short-term outlook for precious metals are negative. This is likely to continue fixing of profit on long positions, open to gold and silver, when the dollar is rapidly declining, and the quotes will continue to decline.
The technical picture is also deteriorated, as the precious metals have emerged to overcome last week's support. This opens the way for a deeper dip, the goal of which gold and silver may be located in areas of 915.00 and 13.60 dollars respectively.
What is fear?
The main risk to the precious metals associated with the strengthening of the United States dollar, began to be implemented. In the short term, a situation unlikely to change for the better.
non-ferrous metals market review for 12.06.09
Dynamics
On Friday, a positive movement in the market of non-ferrous metals continued. Particularly good growth in recent days highlighted aluminum quotes which closely approaching the previously marked level of resistance.
At the London Metal Exchange LME aluminum closed ata price of 1640 dollars per ton.
Copper at the close of the Exchange cost 5240 dollars per ton.
Nickel in the tender price was 15,575 dollars per tonne.
Causes
Overall optimistic mood of investors is still intact. Despite the rather modest fundamentals of the global economy, investors pay more attention to the growth of inflationary fears and a strong world economy, monetary pumping liquidity from central banks.
What to expect?
industrial metals market continues to move in an upward direction. In addition, many representatives of this market quotes very closely approached the level of strong opposition. Thus, in the near future, you can expect slow growth and stabilize the quotations on the levels achieved with the attempts to break above resistance levels.
What is fear?
Speculative attempts growth can continue for some time, but the fundamental factors can overcome the fear of inflation, and then downward movement can be a powerful new impetus. Data on industrial production is still very weak, and procurement from China are suspended.
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Analyst Ratings
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Mortgage cover
Deputies have increased funding for a 100 million
Russian stock indexes falling more than 3%
The forecasts of analysts: The possibility of «shorts» may be another reason for the reduction of quotations on the Russian stock market
The forecast movement of indices RTS, MICEX and the SP 500, based on an analysis of daily data at the closing session of the previous trading day
This week the cost of action Lukoil will go down in the area of 1550-1600 rubles
Worse than the market today will be the dynamics of the shares of commodity companies, probably continued fixation profit in shares of banks
If the index MICEX not leave items below 1040-1050, the maximum possible repetition
Today's trading session will be held under the banner of bears, which contributes to adverse external background
Given that the dollar continues to strengthen its advantage, the short-term outlook for precious metals are negatively
Market Overview oil 12.06.09
Dynamics
Friday quotes black gold fell slightly after reaching a maximum prior to the first eight months of a mark above 73 dollars per barrel.
At the New York Stock Exchange NYMEH cost of the July futures on U.S. light crude oil mark Light Sweet fell by 64 cents. Thus, its price was 72.04 dollars per barrel.
The July futures on oil brand Brent fell to 70.52 dollars per barrel.
Causes
The reasons for the new correction again lie in the dynamics of exchange. U.S. Dollar in recent days, a little stronger, causing a wave of profit from the fixation of speculators in commodity markets. Nevertheless, the aggressive movement down the current motion is not called. The point is that for the first time in the last 10 months, the International Energy Agency has increased by 120 thousand barrels per day projected level of oil consumption in the world for the current year. As a result, according to published them today, a new assessment in 2009 the world economy will consume per day 83.3 million barrels. The main reason analysts have called the agency a substantial increase in oil consumption from the United States and China. This gave rise to the next talk of an early exit from the world economic crisis.
What to expect?
Despite the moderately optimistic projections for the consumption of raw materials from the IEA, in fact as a glut in the U.S. and Western Europe remains at a fairly high marks. As a result, a possible trend towards the strengthening of the dollar correction will be continued.
What is fear?
Speculative sentiment on global platforms are very strong. Against this backdrop, further drive the top quotes of raw materials is not a lot of work, the more that the overall situation in world markets for this is. Frankly adverse factors in recent months does not appear, while others are largely built into the price. Thus, when you light these positive increases in the price of black gold may well continue.
Review precious metals market for 12.06.09
Dynamics
Quotations of precious metals continued to decline. At the end of the day on the gold spot market closed below the U.S. $ 940.00 per troy ounce, while silver nearly reached the minimum 14.75 dollars per ounce.
Causes
The decline of precious metals is directly related to the dollar. For a number of circumstances, the U.S. currency has resumed growth. Its consolidation tends to put pressure on commodity prices, which are denominated in dollars, as this makes them more expensive in other currencies, which reduces demand. As a result, the quotations of precious metals markedly decreased.
What to expect?
Given that the dollar continues to strengthen its advantage, the short-term outlook for precious metals are negative. This is likely to continue fixing of profit on long positions, open to gold and silver, when the dollar is rapidly declining, and the quotes will continue to decline.
The technical picture is also deteriorated, as the precious metals have emerged to overcome last week's support. This opens the way for a deeper dip, the goal of which gold and silver may be located in areas of 915.00 and 13.60 dollars respectively.
What is fear?
The main risk to the precious metals associated with the strengthening of the United States dollar, began to be implemented. In the short term, a situation unlikely to change for the better.
non-ferrous metals market review for 12.06.09
Dynamics
On Friday, a positive movement in the market of non-ferrous metals continued. Particularly good growth in recent days highlighted aluminum quotes which closely approaching the previously marked level of resistance.
At the London Metal Exchange LME aluminum closed ata price of 1640 dollars per ton.
Copper at the close of the Exchange cost 5240 dollars per ton.
Nickel in the tender price was 15,575 dollars per tonne.
Causes
Overall optimistic mood of investors is still intact. Despite the rather modest fundamentals of the global economy, investors pay more attention to the growth of inflationary fears and a strong world economy, monetary pumping liquidity from central banks.
What to expect?
industrial metals market continues to move in an upward direction. In addition, many representatives of this market quotes very closely approached the level of strong opposition. Thus, in the near future, you can expect slow growth and stabilize the quotations on the levels achieved with the attempts to break above resistance levels.
What is fear?
Speculative attempts growth can continue for some time, but the fundamental factors can overcome the fear of inflation, and then downward movement can be a powerful new impetus. Data on industrial production is still very weak, and procurement from China are suspended.
Your grade will be the first!
Analyst Ratings
Mortgage cover
Deputies have increased funding for a 100 million
Russian stock indexes falling more than 3%
The forecasts of analysts: The possibility of «shorts» may be another reason for the reduction of quotations on the Russian stock market
The forecast movement of indices RTS, MICEX and the SP 500, based on an analysis of daily data at the closing session of the previous trading day
This week the cost of action Lukoil will go down in the area of 1550-1600 rubles
Worse than the market today will be the dynamics of the shares of commodity companies, probably continued fixation profit in shares of banks
If the index MICEX not leave items below 1040-1050, the maximum possible repetition
Today's trading session will be held under the banner of bears, which contributes to adverse external background