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Analytics, News, and Forecasts for CFD Markets: raw news — 05-11-2012.
Oil prices continue to oscillates around four because the Americans are preparing for tomorrow's presidential election.
As market participants' attention was riveted to the statement today, Prime Minister of Greece, Antonis Samaras, who said that the country could be forced to leave the eurozone if parliament does not approve a new package of austerity measures on the ballot Nov. 7. Greek Parliament must vote for or against a package of spending cuts, tax increases and other reforms in the amount of 13 billion euros. If the measures and the budget for 2013 are approved, Greece will be able to get help from the European Union and the International Monetary Fund. Recall that the vote on the budget for 2013 is scheduled for November 11.
Note also that, according to the Commission on the Commodity Futures Trading hedge fund managers and other large speculators reduced their "long" positions in oil up to the lowest level in nearly five months in the week ended October 30.
December futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 85.05 dollars a barrel on the New York Mercantile Exchange.
December futures price for North Sea petroleum mix of mark Brent rose 20 cents to 105.76 dollars a barrel on the London Stock Exchange ICE Futures Europe.
Today, gold prices updated Friday's low, but despite this managed to recover from the 9-week low as the focus of the market now in the U.S. election.
At the same time, a significant increase in the price of the precious metal was restricted weak stock markets and the appreciation of the dollar.
Note that the outcome of the U.S. elections are important because Barack Obama favorably consider continuing the program of incentives, while Republican rival Mitt Romney is expected to act not in favor of further easing. Team Romney is skeptical of such a policy, and is unlikely to re-appoint the head of the Federal Reserve Ben Bernanke for a third term in 2014.
At the same time, Obama's victory will lead to a further increase in gold prices, which is caused by expansionary measures.
In addition to monetary policy, elections have consequences for financial failure in the U.S., which is based on reducing the cost of $ 600 billion and tax increases on January 1.
December futures price of gold on COMEX today rose to 1683.30 dollars per ounce.
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