review the oil market for 15.10.09
Dynamics
Quotes of the oil market on Thursday, October 15 jumped in price to a new annual peak above 77 dollars a barrel after data on stocks of petroleum and petroleum products from the U.S. Department of Energy, and also because of the positive trend of the stock pads.
At the New York Stock Exchange NYMEH cost of the November futures for U.S. light crude rose by 2.40, and its price, therefore, amounted to 77.58 dollar per barrel.
The exchange ICE in London, Brent crude futures price rose 1.35 to 74.45 dollars per barrel.
Causes
On Thursday, October 15 quotes on the market of black gold have jumped in price to a new annual peak above 77 dollars a barrel after data on stocks of petroleum and petroleum products from the U.S. Department of Energy that showed a sharp fall in gasoline stocks by 5 23 million barrels, while distillate stocks, which include diesel fuel and heating oil, fell by 1,084 million barrels, while oil reserves increased by 0,334 million barrels, and also because of the positive trend of the stock sites - the focus of market participants were quarterly reports of banks, and macroeconomic statistics, which helped the major stock indexes to show U.S. growth, updating the annual maximums.
From news worth noting that Russia and Belarus are preparing a new agreement to supply Russia's oil to the republic. There is a corresponding order of the Supreme Council of the Union State, talks are held, including the oil agreement, which will be charged customs duty. This duty - nothing more, as derived from the export duty on light oil products, produced from Russia's oil. This intergovernmental agreement of 1995, when it was planned to divide these duties by 85% and 15% between Russia and Belarus. At one time it is enforced, then was performed in part, and then Belarus from it unilaterally withdrew.
What to expect?
Analysts say the oil market will continue to rise, with the first strong resistance for oil would only arise at around 80.00 dollars per barrel. Moreover, the rebels in Nigeria have announced the beginning of the next period of attacks on oil infrastructure and staff of oil companies.
Why worry?
It is negative for the oil market is that the growth of quotations is the seventh consecutive day, but for the current week, oil prices have risen in price already for 8,7%, which would be grounds for a correction on the wave of profit-taking by market participants.
Overview of precious metals market for 15.10.09
Dynamics
On Thursday 15 October and results of the auctions quotes for gold and silver have shown downward trends in price against U.S. dollar strengthening against the euro on the foreign exchange market, FOREX, and also due to technical factors.
As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures dropped 14.10 to 1050.60 on the dollar per troy ounce, quotes, silver futures fell 49 cents to 17.42 dollars per ounce.
Causes
On Thursday, October 15 quotes for precious metals market has shown downward trends in price against U.S. dollar strengthening against the euro on the foreign exchange market, FOREX, but also because of technical factors arising from profit-taking by many market participants following the record prices for metals. Silver futures fell after the gold, while the percentage of the price of silver declined by more than a gold, as trading volumes on it less, and this increased the price fluctuations. Only optimistic stock quotes sites kept the precious metals from the strong gravity (up to tender Dow Jones industrial average was 10062.94 (47.08), Nasdaq Composite - 2173.29 (1.06), SP 500 - 1096.56 (4.54)).
From news can be noted that Russia's gold reserves rose for the week by 7.2 billion dollars, or 1,7%. However, as of January 1, 2009 the international reserves of Russia formally constituted 427.08 billion, including direct foreign currency assets - 406.205 billion. Thus, over the past period this year, the reserves of Bank of Russia decreased by 8.38 billion dollars. At the moment Russia is ranked third in the world's largest gold reserves. The first place already for a long time, China holds. Thus,China's reserves are only at the III quarter of this year rose by 141 billion dollars and accounted for in the end of September 2.27 trillion. dollars. International reserves of Russia are highly liquid financial assets held by the Bank of Russia and the Government of Russia at the balance sheet date. International reserves consist of assets in foreign currency, monetary gold, special drawing rights (SDR), reserve position in IMF and other reserve assets.
What to expect?
According to many analysts and traders, the price of gold may continue to grow and set new records next week against the possible fall of the dollar in the foreign exchange market, FOREX, and also because of the positive trend of the stock markets and adjacent areas.
Why worry?
Many companies manufacturing sector and institutions, giving the gold to rent, possibly today, the precious metals market will increase sales of gold futures amid fears about demand associated primarily with the upcoming holidays.
non-ferrous metals market review for 15.10.09
Dynamics
On Thursday, October 15 quotes for non-ferrous metals on the basis of trading on the London Stock Exchange showed a slight negative change in value against the U.S. dollar in the currency market FOREX, and also because of the negative dynamics of neighboring markets.
At the London Metal Exchange LME aluminum price closed at 1,835 dollars per tonne.
Copper at the close of the exchange was worth 6076 dollars per ton.
Nickel bidding up the price of 18170 dollars per tonne.
Causes
On Thursday, October 15 the price of nonferrous metals on the basis of trading on the London Stock Exchange showed a slight negative change in value against the U.S. dollar strengthening against the euro on the foreign exchange market, FOREX, and also because of the negative dynamics of the neighboring markets, namely the continuing fall in prices precious metals market. Proportion positive came from the oil market, which has overcome an important frontier in the $ 75 per barrel, and stock sites, where the quarterly reports help stock indices closed in the green zone.
From news worth noting forecast international team to study the copper market (ICSG), whereby excess copper on the world market will continue in the current and next year. Drug production, conducted in 2009, will have no serious impact on demand, and in 2010, faced with low consumption of increasing the supply of copper. World production of copper in 2009 will grow by 2,9% to 15.835 million tons, although the increase will be constrained by limitations in the production. Capacity utilization rate will be 80.5% - the lowest level since 1989 In 2010, production will grow by 6,7% to 16,891 million tons. World production of refined copper by the end of this year will grow by 0,4% to 18.301 million tons, and the next - on 7,5%, to 19,675 million tons. As a consumer, in 2009, it dropped to 1.56%, to 17,725 million tons in 2010 - on 0,26%, to 17.679 million tons. Reducing demand will occur in the United States, European Union and Japan, amounting in total to all these markets, 17%, whereas in China it increased by 26%. In the longer term (in 2011) the market will be more balanced, because the economic recovery will boost demand for copper.
What to expect?
According to some analysts, the stock market rally, as well as strengthen the position of the energy market and precious metals market seriously support and push up prices of non-ferrous metals. In this leadership position, many market participants give the copper.
Why worry?
negative factor in the market of nonferrous metals, according to analysts, appear significant fluctuations in the currency market, as well as the end of the trading week, which carry a greater chance of increasing desire to profit-taking by market participants and develop a deep downward correction.
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