Thursday, 3 October 2013
Fundamental Outlook of Crude Oil
Crude oil dropped on Wednesday as a budget impasse continued to keep parts of the U.S. government shut down.
Crude oil is trading lower on NYMEX today. We expect prices to trade lower for the day on worries a prolonged U.S. government shutdown would hurt demand in the world's biggest oil consumer.
Tuesday, 1 October 2013
Today's News on Gold Market
Spot gold prices declined around 0.7 percent yesterday on the back of declining trend in SPDR gold holdings. Further, weak global market sentiments on the back of rising concerns regarding US debt ceilingexerted downside pressure on prices.However, sharp downside in the prices was cushioned as result of weakness in the DX. The yellow metal touched an intra-day low of$1322.95/oz and closed at $1326.90/oz in yesterday’s trading session.
In the Indian markets, gold prices traded lower by 1 percent and closed at Rs.30,425/10 gms after touching an intra-day low of Rs.30,160/10 gms on Monday.
www.marketmagnify.com
07316619100
Industrial Metal Market News on 01/10/2013 by Market Magnify
Industrial metals prices steadied yesterday as soft dollar and signs of steady global growth offset investors' concerns about the prospect of an imminent U.S. government shutdown.
Industrial metals prices are trading firm on international bourses today. We expect a further rise in the prices of metals on account of better economic data from China. Buying at dips is recommended for the day.
Domestic Market Update on Soyabean Crop
In the domestic markets, soybean futures surged 3 percent on the back of domestic cues and rising hopes of a bullish USDA data. Rains in the growing regions of India have raised concerns over the damage caused to the standing crops. Further the arrivals in the spot markets were limited which further added fuel to prices. Many mandis in Madhya Pradesh will remain closed this week on festivities which means lower spot market availability. However, the supply scenario and the large carryover stock continues to paint a bearish picture for the oilseed. Arrivals will augment from the coming week which means price should eventually cool down. Traders should sell the rallies till Rs 3600 per quintal in the November contract for a downside of Rs 3400 with a stop loss of Rs 3700.
Fundamental Outlook of Crude Oil
Crude oil dropped to a 2-1/2 month low early on Monday, with markets uncertain on the outlook for demand as a shutdown of U.S. government operations seemed more likely.
Crude oil is trading lower on NYMEX today.
We expect prices to trade lower for the day on the prospect of a U.S. government shutdown that could crimp oil demand, while investors also eyed easing tensions in U.S.-Iran nuclear talks.
Monday, 30 September 2013
Today’s Outlook on Commodity Market
- Gold prices are expected to move up due to uncertainty surrounding a decision on the budget talks.
- We expect crude oil prices to remain in range today as fears of a strike at an oil refinery can offset the downside due to rising supplies and demand concerns over US government shutdown.
- We expect copper prices to move up on expectations for good demand from China. However, a week long holiday beginning from tomorrow could limit upside.
www.marketmagnify.com
07316619100
Today's News on Gold Market
Spot gold prices rose by around 1 percent on a weekly basis on the back of decision taken by the Federal Reserve of delayed QE taper during the FOMC meet earlier this week, thereby leading to weakness in the DX.
Mixed global market sentiments and decline in SPDR Gold holdings by 0.5 percent to 905.99 tonnes restricted sharp gain in prices of the yellow metal.
In the Indian markets, gold prices traded higher by 2.9 percent over the week owing to depreciation in the Rupee.
Domestic Market Update on Soyabean Crop
The soybean complex has remained in a tight trading range over a week. The active month November soybean contract have been in a range of Rs 3500 -3420 a quintal. Arrival pressure has not been felt by the markets yet due to weather anomalies and this is holding on to the prices. Once the arrivals begin in full swing we expect soybean prices to witness a sharp downside in prices. On the flipside, the weakening home currency against the dollar will support the sentiments of a bull. What we require is a forceful trigger to over play other factors and drive prices out of the trading range. We expect arrivals to rise from this week which should keep the prices under pressure. For the day traders should sell soybean November contract on rallies to Rs 3500per quintal with a stop loss of Rs 3550 for a target of Rs 3350.
www.marketmagnify.com
07316619100
Fundamental Outlook of Crude Oil
Crude oil fell for a sixth session out of seven on Friday as a U.S.-Russia deal to remove chemical weapons from Syria and talks on resolving tensions over Iran's nuclear plans helped ease fears over Middle East supply risks.
Crude oil is trading lower on NYMEX today. We expect prices to trade lower for the day as tensions over Iran eased and as a potential U.S. government shutdown clouded the outlook for demand.
www.marketmagnify.com
07316619100
Subscribe to:
Posts (Atom)