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Analytics, News, and Forecasts for CFD Markets: raw news — 14-05-2013.
West Texas
Intermediate crude fluctuated after equities advanced on bullish comments from
hedge-fund manager David Tepper, while analysts forecast that U.S. crude
stockpiles climbed from an 82-year high.
Futures rebounded and the Standard & Poor’s 500 Index rose as Tepper, co-founder and owner of Appaloosa Management, told CNBC the economy is improving. A government report tomorrow will probably show that supplies gained 400,000 barrels last week, according to a Bloomberg survey.
North
American output growth will be as significant for the global market as
WTI oil for
June delivery decreased to $94.50 a barrel on the New York Mercantile Exchange.
Brent oil for June settlement rose 6 cents to $102.88 a barrel on the
London-based ICE Futures Europe exchange. Volume for all contracts was 21
percent above the 100-day average.
Gold shows a slight increase in
the correction after a three-day decline. In this case, the U.S.
currency strengthened, as in an empty economic calendar remains of
interest to U.S. traders. Recall that yesterday the U.S. issued a
decent report on retail sales, and later head of the Federal
Reserve Bank of Philadelphia's Plosser made a number of statements
in which repeated that, in his opinion, the size of the QE program
should be cut as early as next month. Both of these factors are
positive for the USD, due to which today, in the absence of new
drivers, steady bullish trend for the buck can be further
developed.
At the same time, judging by the disappointing results of the German study, improvement in May, can not be expected, that is clearly a negative factor for the EUR. As the results of recent studies that have been presented today by the Institute of ZEW, this month the German economic expectations were generally stable, showing a slight increase, following a sharp decline in April, which likely indicates to curb the ongoing economic recession in the eurozone. According to the report, in May, the index of sentiment in the business environment has increased to the level of 36.4, compared to 36.3 points in April, which was significantly worse than the forecasts of experts at the level of 39.5.
The cost of the August gold futures on COMEX today rose to 1446.00 dollars an ounce.
Change % Change Last
GOLD 1,430.50 -6.10 -0.42%
OIL 95.04 -1.00 -1.04%
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