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Analytics, News, and Forecasts for CFD Markets: raw news — 01-05-2012.
Oil climbed to a one-month high after U.S. manufacturing increased at the fastest pace in 10 months, signaling that economic growth will accelerate in the world’s biggest crude-consuming country.
The ISM manufacturing index rose to 54.8 from March’s 53.4, the Tempe, Arizona-based group’s report showed. The median forecast called for a drop to 53, with a range from 52 to 54.
Crude oil for June delivery gained to $106.32, the highest intraday level since March 28 on the New York Mercantile Exchange. Prices climbed 1.8 percent in April and are up 7.3 percent this year.
Brent oil for June settlement gained 29 cents, or 0.2 percent, to $119.76 a barrel on the London-based ICE Futures Europe exchange.
Gold prices rose before the release of data on business activity in the U.S. from the Institute for Supply Management (ISM). Published data were better than analysts' forecasts, which caused a sharp strengthening of the dollar,and as a consequence, the fall in gold prices. Thus, the index of economic conditions in the ISM manufacturing sector in April was 54.8, 53.0 expected. Earlier today, published data on the index of manufacturing activity in China. In April, the value of the indicator rose to the level of 53.3 points vs. 53.6 in March and the value of 53.1.
The cost of the June gold futures on COMEX has risen now to $ 1672.30 per ounce and then dropped to $ 1657.50 an ounce.
Change % Change Last
Light Sweet Crude Oil, NYMEX 104.62 0.55%
E-mini NASDAQ-100 2718.50 -0.65%
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