Crude oil pulls back again after soaring to 67.33 in European morning as USD strengthens. Moreover, mixed performance in European stock markets Tuesday put pressure on energy prices. Although the tension in…
Tag: base metals
Weekly Fundamental Outlook for Energies and Metals – Crude is Prone to Head Lower As We Enter the Shoulder Season
The themes directing commodity prices remained to be USD, macro economic outlook and equity markets. The dollar index sank deeper earlier in the week as market sentiment continued to improve. Moreover, as…
Recovery in USD Pressures Commodity Prices in European Morning
Commodity prices drop in European morning as the dollar recovers after plunging for several days. In particular, the pound sinks against the dollar and euro after Lloyds Banking Group was barred from…
Rebounds in Equity Markets Boosted Commodity Prices
Despite weakness in Asian session, crude oil price recovered in NY session amid rebound in stock market and renewed selling in USD. The October contract slid -0.6% to 68.86. Concerning others in…
Weekly Fundamental Outlook for Energies and Metals – Gold Shines Again While Crude Loses Glitter
Star of the week was obviously gold which broke out of recent broad trading range and set to resume the long uptrend with target above 1000. We find the rally impressive as…