Market Overview oil 10.07.09
Dynamics
Trades on Friday at the market of black gold continued weak momentum fall. Oil futures on Asian consolidated bid slightly above level 60 dollars per barrel, but later on the background of growing pessimism in the markets, oil prices fell to a minimum 58.72 dollars per barrel, and completed the week 11% decline - the most dramatic since the end of January.
At the New York Stock Exchange NYMEH cost of the August futures for U.S. light crude oil fell to 0.52 dollars and its price, therefore, amounted to 59.89 dollar per barrel.
At the ISE Stock Exchange in London, the cost of oil brand Brent fell by 0.52 to 60.58 dollars per barrel.
Causes
quotes prices in the oil market showed mixed trends, but on the basis of trading session fell to a new level. Strengthening of the dollar and uncertainty to the prospects of the global economy put pressure on the market. From the news is worth noting that Cuba owes Venezuela for oil supplies around 5 billion dollars. Venezuela in 2003, Cuba has oil and petroleum products amounting to 12 billion 200 million dollars. 38% of that amount, according to contracts signed between Caracas and Havana have a deferral of payment for a period of 25 years.
Malaysian Petronas acquired two bulk vessels with carrying capacity of 300 thousand barrels. They are intended to transport oil produced in offshore fields Bunag-Orkid (Bunga-Orkid), located near the border with the economic zone of Vietnam. The deposit, introduced in March of that year, developed jointly by Petronas (46,06% of capital), a Canadian Talisman (41,44%) and Vietnamese PetroVietnam (12,5%). Current production is 160 thousand barrels per day, but by the end of 2009, its level will rise to 28 thousand barrels per day.
What to expect?
The International Energy Agency (IEA) on Friday issued a new forecast of world oil demand, which in 2010 the demand will grow by 1.4 million barrels per day compared with this year to 85.2 million barrels a day due to an increase consumption in developing countries. The Agency has not changed the forecast of demand for this year compared with the previous forecast, declining to provide 2.5 million barrels per day compared to 2008 year to 83.8 million. The forecast is moderately positive, and will not add to the trend of recent days to lower prices. On the side of cost, oil prices and the new application supports the rebel group Movement for the Liberation of the Niger delta to commit sabotage on the oil platform near Lagos.
What is fear?
Prices for black gold is quite easy to test strong support at $ 60 per barrel and the boundless future, may begin to test the deeper levels and strong against the backdrop of the dollar began to strengthen on the foreign exchange market.
Review precious metals market for 10.07.09
Dynamics
On Friday 10 July at the bid quotes on gold and silver resumed falling. U.S. dollar after sharp weakening of the previous day, again began to grow. Gold for the week fell by 3.0%.
As a result of trades on the COMEX, division New York Commodity Exchange (New York Mercantile Exchange, NYMEX) gold stood at around 912.50 dollars per troy ounce, while silver closed at around 12.64 dollars per ounce.
Causes
Gold prices traded on a neutral on Friday, recovered from the area of at least 907.28 dollars per troy ounce, and showing a maximum of 915.42 dollars per troy ounce. The direction of rates raised the dollar, which was negative for gold rather than positive. Moreover, the decline in oil prices and metals also deprive the main advantages of gold as an instrument of protection against rising prices. From the news it may be noted that members of the union Compania Minera Mantos de Oro, Chile (a subsidiary company of Kinross Gold Corp) went on strike at the mine of La Koypa (La Coipa) in the region of Atacama in northern Chile. Zolotoserebryany mine to stop work in 2011. Unless additional reserves are found. However, Kinross said that there is significant potential to find additional reserves near existing fields. The strike will reduce the mining company at 300 ounces per day.
What to expect?
As we approach the price of gold to 900 dollars per troy ounce could increase the purchase of the physical form of the metal. In addition, this level is also an attractive investment in the long run. Yes, and ignore the additional programs to stimulate the global economy can not. In the United States preparing to adopt a new package has already started, but its implementation will need to re-insert the printing press to produce dollars at full capacity.
What is fear?
The pressure on gold may have concerns about the upcoming sales of gold by the International Monetary Fund, which were approved by the U.S. Congress this summer. So far, the market will not be removed excess supply, the market will be difficult to maintain position. In addition, the fuel to the fire may scoundrelly new building a short position on gold, after the elimination of most of them before closing the session last week.
non-ferrous metals market review for 10.07.09
Dynamics
On Friday 10 July at the bid prices in commodity markets showed divergent trends. The week ended with losses in most commodities contracts because of uncertainty over the future of the world economy. At the London Metal Exchange LME aluminum closed at a price of 1532 dollars per ton. Copper at the close of the Exchange cost 4839 dollars per ton. Nickel in the tender was in the price of 14450 dollars per ton.
Causes
The fall of the quotations for non-ferrous metals held against the backdrop of the strengthening U.S. currency, as well as the fall of the major stock indexes from morning highs after a report the University of Michigan, according to which the preliminary assessment of consumer confidence in July was 64.4 pm, while analysts forecasted 70.0 pp. From the news is worth noting that the Philippine MacroAsia Corp. postponed the project of exploitation of its nickel deposit lateritnogo Infanta (Infanta) at o.Palavan, Philippines, 2010 In 2008, the company received the necessary permits for the construction of a mine, but not compelled to hurry because of low nickel prices. Identified resources deposits Infanta estimated at 92 million tonnes of ore with a nickel content of 1.01 to 2%. More accurate results will be available later.
What to expect?
At this week at the market of non-ferrous metals is likely to resume upward trend, fueled by positive economic output makrostatistiki and good corporate records, and to stabilize the situation in neighboring markets also play a positive role.
What is fear?
At the metal markets can once again resume downward trend. Traders fear that with the approaching season of low demand in China stock quoteswill go down dramatically. Proof of this is scheduled to speak on the record this week the Shanghai futures exchanges on tracking stocks of copper.
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Analyst Ratings
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In Asia, the beginning of the week was greeted in the negative tone
At present, the main concerns of investors will be linked to the publication of corporate reporting
FT: Microsoft prepares to compete with Google
Recommendations on the stock market: LUKOIL, MMC Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
Recommendations on shares of Gazprom, Gazprom Neft, Lukoil, MMC Norilsk Nickel, Rosneft, Sberbank
The closest support level shares Lukoil is in the vicinity of 1280 rubles
It is likely achieve the level of support for the MICEX index 850 points
Prices EUR /USD move to the level of support 1.3900
Overview of the foreign exchange market 13.07.2009
This week on the market of non-ferrous metals resumes upward trend
Market Overview oil 10.07.09
Dynamics
Trades on Friday at the market of black gold continued weak momentum fall. Oil futures on Asian consolidated bid slightly above level 60 dollars per barrel, but later on the background of growing pessimism in the markets, oil prices fell to a minimum 58.72 dollars per barrel, and completed the week 11% decline - the most dramatic since the end of January.
At the New York Stock Exchange NYMEH cost of the August futures for U.S. light crude oil fell to 0.52 dollars and its price, therefore, amounted to 59.89 dollar per barrel.
At the ISE Stock Exchange in London, the cost of oil brand Brent fell by 0.52 to 60.58 dollars per barrel.
Causes
quotes prices in the oil market showed mixed trends, but on the basis of trading session fell to a new level. Strengthening of the dollar and uncertainty to the prospects of the global economy put pressure on the market. From the news is worth noting that Cuba owes Venezuela for oil supplies around 5 billion dollars. Venezuela in 2003, Cuba has oil and petroleum products amounting to 12 billion 200 million dollars. 38% of that amount, according to contracts signed between Caracas and Havana have a deferral of payment for a period of 25 years.
Malaysian Petronas acquired two bulk vessels with carrying capacity of 300 thousand barrels. They are intended to transport oil produced in offshore fields Bunag-Orkid (Bunga-Orkid), located near the border with the economic zone of Vietnam. The deposit, introduced in March of that year, developed jointly by Petronas (46,06% of capital), a Canadian Talisman (41,44%) and Vietnamese PetroVietnam (12,5%). Current production is 160 thousand barrels per day, but by the end of 2009, its level will rise to 28 thousand barrels per day.
What to expect?
The International Energy Agency (IEA) on Friday issued a new forecast of world oil demand, which in 2010 the demand will grow by 1.4 million barrels per day compared with this year to 85.2 million barrels a day due to an increase consumption in developing countries. The Agency has not changed the forecast of demand for this year compared with the previous forecast, declining to provide 2.5 million barrels per day compared to 2008 year to 83.8 million. The forecast is moderately positive, and will not add to the trend of recent days to lower prices. On the side of cost, oil prices and the new application supports the rebel group Movement for the Liberation of the Niger delta to commit sabotage on the oil platform near Lagos.
What is fear?
Prices for black gold is quite easy to test strong support at $ 60 per barrel and the boundless future, may begin to test the deeper levels and strong against the backdrop of the dollar began to strengthen on the foreign exchange market.
Review precious metals market for 10.07.09
Dynamics
On Friday 10 July at the bid quotes on gold and silver resumed falling. U.S. dollar after sharp weakening of the previous day, again began to grow. Gold for the week fell by 3.0%.
As a result of trades on the COMEX, division New York Commodity Exchange (New York Mercantile Exchange, NYMEX) gold stood at around 912.50 dollars per troy ounce, while silver closed at around 12.64 dollars per ounce.
Causes
Gold prices traded on a neutral on Friday, recovered from the area of at least 907.28 dollars per troy ounce, and showing a maximum of 915.42 dollars per troy ounce. The direction of rates raised the dollar, which was negative for gold rather than positive. Moreover, the decline in oil prices and metals also deprive the main advantages of gold as an instrument of protection against rising prices. From the news it may be noted that members of the union Compania Minera Mantos de Oro, Chile (a subsidiary company of Kinross Gold Corp) went on strike at the mine of La Koypa (La Coipa) in the region of Atacama in northern Chile. Zolotoserebryany mine to stop work in 2011. Unless additional reserves are found. However, Kinross said that there is significant potential to find additional reserves near existing fields. The strike will reduce the mining company at 300 ounces per day.
What to expect?
As we approach the price of gold to 900 dollars per troy ounce could increase the purchase of the physical form of the metal. In addition, this level is also an attractive investment in the long run. Yes, and ignore the additional programs to stimulate the global economy can not. In the United States preparing to adopt a new package has already started, but its implementation will need to re-insert the printing press to produce dollars at full capacity.
What is fear?
The pressure on gold may have concerns about the upcoming sales of gold by the International Monetary Fund, which were approved by the U.S. Congress this summer. So far, the market will not be removed excess supply, the market will be difficult to maintain position. In addition, the fuel to the fire may scoundrelly new building a short position on gold, after the elimination of most of them before closing the session last week.
non-ferrous metals market review for 10.07.09
Dynamics
On Friday 10 July at the bid prices in commodity markets showed divergent trends. The week ended with losses in most commodities contracts because of uncertainty over the future of the world economy. At the London Metal Exchange LME aluminum closed at a price of 1532 dollars per ton. Copper at the close of the Exchange cost 4839 dollars per ton. Nickel in the tender was in the price of 14450 dollars per ton.
Causes
The fall of the quotations for non-ferrous metals held against the backdrop of the strengthening U.S. currency, as well as the fall of the major stock indexes from morning highs after a report the University of Michigan, according to which the preliminary assessment of consumer confidence in July was 64.4 pm, while analysts forecasted 70.0 pp. From the news is worth noting that the Philippine MacroAsia Corp. postponed the project of exploitation of its nickel deposit lateritnogo Infanta (Infanta) at o.Palavan, Philippines, 2010 In 2008, the company received the necessary permits for the construction of a mine, but not compelled to hurry because of low nickel prices. Identified resources deposits Infanta estimated at 92 million tonnes of ore with a nickel content of 1.01 to 2%. More accurate results will be available later.
What to expect?
At this week at the market of non-ferrous metals is likely to resume upward trend, fueled by positive economic output makrostatistiki and good corporate records, and to stabilize the situation in neighboring markets also play a positive role.
What is fear?
At the metal markets can once again resume downward trend. Traders fear that with the approaching season of low demand in China stock quoteswill go down dramatically. Proof of this is scheduled to speak on the record this week the Shanghai futures exchanges on tracking stocks of copper.
1 users rated material 5.
Analyst Ratings
In Asia, the beginning of the week was greeted in the negative tone
At present, the main concerns of investors will be linked to the publication of corporate reporting
FT: Microsoft prepares to compete with Google
Recommendations on the stock market: LUKOIL, MMC Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
Recommendations on shares of Gazprom, Gazprom Neft, Lukoil, MMC Norilsk Nickel, Rosneft, Sberbank
The closest support level shares Lukoil is in the vicinity of 1280 rubles
It is likely achieve the level of support for the MICEX index 850 points
Prices EUR /USD move to the level of support 1.3900
Overview of the foreign exchange market 13.07.2009