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Analytics, News, and Forecasts for CFD Markets: raw news — 15-06-2012.
Oil fluctuated in New York amid speculation that central banks will take steps to bolster global economic growth.
Futures climbed as much as 1.1 percent and dropped 0.3 percent as policy makers from the U.K. to Japan and Canada stepped up warnings about the threat to world financial markets should Europe fail to contain its debt crisis. Greek elections June 17 may determine whether the country remains in the euro bloc. The Federal Reserve starts a two-day meeting June 19.
Bank of England Governor Mervyn King said late yesterday that the case for more stimulus in the U.K. “is growing.”
Greeks will vote for the second time in six weeks after a May 6 ballot failed to yield a government. The constitution permits a third election, too. The final polls, published on June 1, showed no party set to win a majority. Exit polls will be released when voting ends at 7 p.m. June 17 in Athens, with a first official result estimate due around 9:30 p.m.
Crude for July delivery rose to $84.80 a barrel on the New York Mercantile Exchange. Prices are down 0.1 percent this week and 15 percent this year.
Brent oil for August settlement gained 64 cents, or 0.7 percent, to $97.81 a barrel on the London-based ICE Futures Europe exchange.
Gold prices rise on Friday after weak statistical data from the U.S. increased the demand for the metal as a safe asset and increased the likelihood of new measures to support the economy by the Fed.
A day earlier, it was reported that the number of initial claims for unemployment benefits for the past week has increased by 6000 and reached 386,000, while the number of initial claims for the previous week was revised upward - up to 380,000 from 377,000. Analysts had expected a reduction in the number of applications during the period of two thousand unrevised from the previous rate - up to 375,000.
U.S. Trade Ministry said that annual inflation in the country in May slowed to 1.7% from 2.3% in April, and in monthly terms, consumer prices last month fell by 0.3%, which is the first in two years and the largest decline over the past 3.5 years. Analysts had expected a reduction in inflation in monthly terms by 0.2% and slowing its rate to 1.8% - in year.
Investor sentiment also affected by pessimistic developments in Europe, and pushes to the thoughts of the possibility of coordinated action by global central banks to support the economy. On the eve of the Spanish ten-year government bond yield exceeded the record high of 7%.
In addition, in advance of weekend investors are waiting for the parliamentary elections in Greece, which will be held on Sunday. Pending the outcome of this event, investment in gold looks more secure.
The June gold futures on the COMEX today rose to 1630.0 dollars per ounce.
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