- Analytics
- News and Tools
- Market News
Analytics, News, and Forecasts for CFD Markets: raw news — 26-07-2012.
Today, crude oil futures soared to $ 105 a barrel, after the European Central Bank said it was ready to act, that would protect the euro from collapse. It also will support further increases in oil prices provided the data on employment in the United States, which were much better than expected. Report of the U.S. government showed that the number of Americans who have filed for unemployment benefits fell to a four-year low, leading to a decrease in concern about weakening economic growth in the largest consumer of oil in the world. Oil prices rose amid signs of a slowdown in the U.S., because the weak data reinforces expectations the Fed to enter the third round of quantitative easing to stimulate the economy.
President Mario Draghi has promised to do everything necessary to protect the euro from collapse. He also said that the biggest problem in the market now is not economic weakness, and lack of confidence in solving the current debt crisis in the euro area.
The spread of the debt crisis in the euro area, along with other political and economic factors, led to swings in energy prices on the background of falling demand due to the tense situation in the Middle East.
Analysts expect volatility to continue, as the prospects for economic stimulus in the U.S. are putting pressure on the market.
Volatility also contributed to the reduction of corporate income among major oil companies that have already been affected by slowing demand in connection with the debt crisis in Europe.
Shell - the second-largest Western oil company in the world, said profit fell to about $ 6.0 billion from $ 8.0 billion last year. The fall was due to lower oil prices and rising operating costs.
Exxon Mobil Corp (XOM.N) - World's largest publicly traded oil company said a decline in quarterly profit, driven by lower oil and gas.
The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now at $ 89.49 a barrel.
September futures price for North Sea Brent crude oil mixture increased to $ 105.21 a barrel on the ICE Futures Europe Exchange.
Today, gold is once again continued its upward movement, after yesterday's rapid growth. This was due to the fact that the head of the European Central Bank, Mario Draghi said that politicians will do whatever is necessary to maintain the euro and amid growing expectations of further U.S. economic stimulus. Gold prices rose to a three-week high above $ 1620 per ounce.
Futures on the precious metals continued to rise on the achievements of the previous session, which showed the largest one-day increase since the end of June, as weak U.S. data renewed talk of another round of quantitative easing.
Many analysts predict that if the Fed would embark on quantitative easing program, it will lead to a weakening dollar, and the fact that market participants will again look to gold as a safe asset.
Further monetary stimulus will also continue to put pressure on long-term interest rates, while maintaining the possibility of reducing the price of gold to the lowest values. Significantly price movement may begin after the data will be presented in terms of U.S. GDP for the second quarter. It is expected that growth will be 1.1%. But if the growth rate will be below expectations, the Fed may resort to an additional stimulus in the coming weeks and months that will affect the value of precious metals.
The increase in gold prices caused a small sales in the physical gold market in Asia, but market participants are worried that prices will lose momentum as political uncertainty remains in the spotlight.
The cost of the August gold futures on the COMEX today has grown to a value of $ 1621.5, and then slightly decreased and now stands at 1616.0 dollars per ounce.
Change % Change Last
Gold 1,582 +11 +0.68%
Oil 92.30 +2.43 +2.70%
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
