HG Copper Technical Analysis

HG Copper

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Gold XAU/USD - Technical Analysis

Gold

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US Light Crude Technical Analysis

US Light Crude
2012-08-13 18:46GMT

US Light Crude

Technical Analysis

Pivot Weekly 93.12
Support Weekly 86.78

 Long positions above 91.80 with targets »» 93.96/94.64

*intraday support 91.80

Key levels:
96.18 *** resistance
95.32 ** resistance
94.14 * resistance

93.27 -- Last

92.10 * support
91.24 **  support
90.06 ***  support
88.89 *** support

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Crude Recovers Following Disappointing Chinese Data

Crude 

The price of crude oil tumbled during Asian trading on Friday, following the release of a worse than expected Chinese trade figure which led to risk aversion in the marketplace. 

Oil dropped close to $2 a barrel to reach as low as $91.68. That being said, the commodity did stage an upward correction during evening trading and eventually finished out the week $93.29.

This week, oil traders will want to pay attention to any news out of the euro-zone and its impact on risk appetite in the marketplace. In addition, any developments in the ongoing conflict between Iran and the West have the potential to create volatility in the price of oil.
(via forexticket)

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Fibonacci Calculator

The Fibonacci Calculator Powered by Forexpros - The Leading Financial Portal.

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Gold XAU/USD - Technical Analysis

Gold

2012-08-10

Technical Analysis

Pivot Monthly 1.603.6

Support Monthly 1.549

 Long positions above 1.549 with targets »» 1.632/1.678 or 1.715

*The RSI is supported by a bullish trend line

Key levels:

1.678 *** Intraday resistance

1.665 ** Intraday resistance

1.652 *  resistance

1.622 -- Last

1.593 ** Weekly support

1.577  ** support1.549 ** Monthly support

1.529 ***  support

1.502 *** support

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Crude oil falls on global growth concerns

Crude oil 

Crude oil futures fell on Friday, as weak trade balance data from China added to concerns over the oultook for global economic growth, following Thursday's downbeat observations by the European Central Bank.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD92.97 a barrel during European morning trade, dropping 0.41%.

Official data showed earlier that China's trade surplus narrowed unexpectedly in July, dropping to USD25.1 billion from a USD31.7 billion surplus.

Tropical storm Ernesto skirts Mexican Gulf coast, kills two

Ernesto weakens as its nears Mexican coast again

Storm Ernesto

* Hurricane warnings called off
* Major oil-exporting ports remain closed
* Officials say two people drowned in Tabasco (Updates with position, death toll, Pemex officials reporting no damage)

MEXICO CITY, Aug 9 (Reuters) - Tropical Storm Ernesto skirted the coast of the Gulf of Mexico on Thursday, sending wind gusts and showers across the state of Veracruz, home to some of Mexico's busiest ports and oil installations.

The storm had maximum sustained winds of 60 mph (96 kph) and was drifting slowly just off the coast in the southern Gulf of Mexico, about 5 miles (8 km) north of Coatzacoalcos, the U.S. National Hurricane Center in Miami said in its 2 p.m. EDT (1800 GMT) advisory.

Standard Chartered faces devastating blow on $250 billion U.S.

Standard Chartered 

TOP NEWS

Standard Chartered faces devastating blow on $250 billion U.S.

(Reuters) CCLA Investment's James Bevan says the scandal surrounding $250 billion in alleged hidden transactions with Iran is potentially devastating for Standard Chartered

Oil Near 3-Month High Amid Speculation Of China Stimulus

Oil 

Oil traded near a three-month high in New York as speculation that China will take more steps to boost economic growth offset signs of weakening demand in the U.S.

Futures advanced as much as 0.6 percent. Growth in China’s industrial production slowed while inflation cooled for a fourth straight month in July, providing more room for policies to stimulate the economy of the world’s second-biggest oil consumer. U.S. petroleum consumption fell 1.1 percent last week, the first drop in four weeks, the Energy Department said yesterday. OPEC trimmed its forecast for demand for its crude and said Iraq’s output surpassed 3 million barrels a day for the first time since 2002.

Japan to load 7 million barrels of Iranian crude in Aug

Oil | Iran

TOKYO, Aug 9 (Reuters) - Japanese refiners will load about 7 million barrels of Iranian crude in August, according to two industry sources, up from loadings of 3 million barrels in July. 

Three very large crude carriers, capable of carrying 2 million barrels each, have visited Iranian terminals this month to load oil, according to ship tracking data. The loadings for August represent about 226,000 barrels per day, down about 25 percent from a year earlier and in line with contractual volumes agreed earlier this year.

Japan suspending loadings of Iranian crude in June ahead of a European Union ban on shipping insurance that took effect on July 1.

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EUR/USD - Technical Analysis

EUR/USD

07-08-2012

Technical Analysis

Pivot intraday 1.2393

 Long positions above 1.2362 with targets »» 1.2445 or 1.247
*The RSI is supported by a bullish trend line

Key levels:
1.2546 *** Intraday resistance
1.2495 ** Intraday resistance
1.2445 * Intraday resistance

1.2408 - Last
1.2393 - Intraday pivot point

1.2362 * Weekly support
1.2343 ** Intraday support
1.2318 *** Intraday support
1.2292 **** Intraday support

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PRECIOUS-Gold climbs in line with euro, stocks

Gold 

* Hopes for ECB action on debt crisis boost euro, stocks
*Indian demand soft ahead of festival season
* Gold-backed ETFs see inflows after lacklustre July 

LONDON, Aug 7 (Reuters) - Gold prices firmed on Tuesday, lifted by a recovery in the euro versus the dollar and a rise in stock markets as optimism grew that the European Central Bank will act to lower borrowing costs for Spain and Italy. Safe-haven German Bund futures extended losses as appetite for assets seen as higher risk picked up. The euro climbed back towards a one-month high against the dollar, while European stocks pared early losses to swing higher.

Iran accusations wipe $16 billion off Standard Chartered shares

Iran | Standard Chartered Bank (video)

The market value of Standard Chartered Plc tumbled $16 billion on Tuesday after New York's bank regulator threatened to tear up its state banking license for allegedly hiding $250 billion in transactions tied to Iran.

(Reuters) - The New York State Department of Financial Services (DFS) slammed Standard Chartered as a "rogue institution" that "schemed" with the Iranian government, which is subject to U.S. sanctions over its nuclear program, and hid 60,000 secret transactions to generate hundreds of millions of dollars in fees over nearly 10 years.


(Please be advised that paragraph 9 contains reference to language that some readers may find offensive)

Shares in the Asia-focused bank were down 23.5 percent at 11.25 pounds by 1120 GMT, their lowest in three years, taking their losses to 30 percent since the news surfaced just before Monday's close.

Gold Price - Long or Short: A Great Opportunity

Gold Price - Long or Short: A Great Opportunity

The gold market took a distinctively bearish view of the news this week from both the Fed and ECB.  After last week’s gains off of the back of Draghi’s comments to support the Euro at whatever cost, the gold price this morning stands at $1590 which is nearly $40 short of its high at the end of last week.

The market had priced in an expectancy of some firm direction with regards the timings of the next round of stimulus, but both Bernanke and Draghi stopped short of that.

The indicators for some forms of stimulus packages being inevitable definitely increased, which is why the support around $1580 - $1590 held after a test on Thursday afternoon following the ECB press conference.

Dollar edges lower on hopes for ECB action

Dollar | ECB

The U.S. dollar edged lower against the other major currencies on Tuesday, as investor confidence was buoyed by growing expectations that the European Central Bank will soon act to stem the debt crisis in the euro zone.

During European morning trade, the dollar was fractionally lower against the euro, with EUR/USD edging up 0.09% to 1.2412.

Expectations that the ECB will soon take steps to help lower Spanish and Italian borrowing costs have been building since ECB head Mario Draghi indicated last week that the bank may restart its bond buying program.

Currency relative strength index

(c)Forexticket forex

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Euro rises to highest since July 5

EURO

* Euro rises to highest since July 5
* Optimism limited on prospect of ECB action

The euro edged higher against the dollar on Monday, extending the previous session's gains on hopes the European Central Bank will take action to lower borrowing costs for Spain and Italy.

With little news to drive markets, investors continued to focus on comments from ECB President Mario Draghi last week, when he said the bank will draw up plans for bond buying in the coming weeks. Gains in the equity market sparked by Friday's data showing surprisingly strong U.S. jobs growth in July also boosted the euro, prompting investors to pare hefty bets against the currency.

Gold XAU/USD - Technical Analysis

Gold
06-08-2012 20:34 GMT

Technical Analysis

Pivot 1.605

LONG positions with 1.619 or 1.626
The RSI is supported by a rising trend line

Key levels:
1638*** Intraday resistance
1627* Intraday resistance
1616** Intraday resistance
1613.03 Last
1605** Intraday pivot point
1594** Intraday support
1584** Intraday support

EUR/USD moves higher despite ECB plan skepticism

The euro moved solidly higher against the U.S. dollar Monday however,  the single currency remained subdued as traders debate the true effectiveness of the European Central Bank’s plan to control the burgeoning  debt crisis.

EUR/USD bounced from 1.2342, the session low to hit 1.2420 during U.S. afternoon trade, 0.26% lower on the day.

The pair was likely to find support at 1.2248, the low of July 31 and resistance at 1.2442, the session high.

The ECB indicated last week that it may restart its bond buying program, to help lower Spanish and Italian borrowing costs.