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Analytics, News, and Forecasts for CFD Markets: raw news — 14-07-2014.
Cost of oil futures fell slightly, being at the same time near three-month low, which was associated with the resumption of production of raw materials to the El Sharara field in Libya, which has increased the volume of oil production in the country.
Meanwhile, experts say that this week, prices could rise due to new problems in Libya and Iraq and fears that Iran will not be able to negotiate with the West over its nuclear program. Libya has increased oil production to 470,000 barrels per day, but the port of Brega is still closed due to protests guards. In addition, on Sunday held battles between rival factions for control of the main airport of Tripoli Libya, during which killed at least seven people. Six people were killed on Sunday in a bomb explosion in a suburb of the Iraqi capital Baghdad. Iraqi parliament delayed the formation of a new government until Tuesday against the backdrop of fighting with Islamists less than 80 kilometers from the capital.
The course of trade also influenced today's data for the euro area, which showed that industrial production fell by 1.1 percent on a monthly measurement, offset by an increase of 0.7 percent in April. Issue, according to expectations, had to grow by 0.3 percent.
Production of consumer durables and non-durables fell by 1.8 percent and 2.2 percent respectively. In turn, the production of intermediate goods fell by 2.4 percent, and production of capital goods decreased slightly by 0.5 percent. Partially offset by decrease in energy production (3 percent). On an annual basis, industrial output grew at a slower pace of 0.5 percent after rising 1.4 percent in April. Experts had expected growth of 1.1 percent.
Market participants are also waiting for the speech of the Federal Reserve Janet Yellen this week on the topic of monetary policy, as well as key data on U.S. retail sales in June.
According to technical analysis Oil N'Gold, the first resistance level WTI oil prices at around $ 101.10, and the second level is $ 101.55. At the same levels of support may include the following $ 100.75 and $ 100.00.
Cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 100.63 a barrel on the New York Mercantile Exchange (NYMEX).
August futures price for North Sea Brent crude oil mixture fell to $ 106.53 a barrel on the London exchange ICE Futures Europe.
Gold prices fell sharply today, losing more than 2 percent, which was associated with fading concerns about Portugal's largest public bank Banco Espirito Santo. Analysts also point out that the cause of the fall was also the fact that some traders believed the rise in prices to the level of excessive four-month high, and also want to get a distinct view when American politicians may start raising interest rates. This week, investors are waiting for speeches in Congress Fed Chairman Janet Yellen to get fresh hints on the future direction of monetary policy after the last week of June Fed meeting minutes gave little idea of when they can begin to grow tender.
Meanwhile, adding that demand in the physical market in Asia remains weak due to high prices.
"Demand in China, India and other countries in Southeast Asia was low the last few weeks. If in the near future will not be a sharp decline in prices, one can hardly expect support from the physical markets, "- said a dealer in Singapore.
Experts World Gold Council (WGC) estimated that half of the gold in 2014 I showed a higher yield than most other instruments. Gold for the first half increased in price by 9.2%. Better shown themselves only certain goods (such as grain, nickel and palladium), shares of Indian companies (in the background change the ruling party in India) and U.S. real estate investment trusts REIT. Height gold surprised many market participants, wrote in his report WGC. Most analysts predicted lower prices. Some investors took advantage of price correction in the past year to buy gold, but investment demand remains weak.
Also today it was announced that the U.S. mining company in April of this year, gold production decreased by 3% compared to the same period a year earlier to 17.6 tons. From the beginning of this year, gold production amounted to 69.1 tons, which is 5% lower than for the same period in 2013. The average price of the precious metal bullion by Engelhard in April of this year amounted to 1 301.12 an ounce, up 37.73 dollars below the March price. So, the past month gold lost 2.8%. In the period from January to April, the U.S. imported 101 tonne gold. U.S. exports of gold for I quarter of 2014 amounted to 186 tons.
The cost of the August gold futures on the COMEX today dropped to $ 1309.00 per ounce.
(raw materials / closing price /% change)
Light Crude $100.49 -0.34%
Gold $1,337.40 -0.01%
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