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Hurricane Sandy is expected

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Category: Forex

Energies: Hurricane Sandy is expected to disrupt some production and will prompt a short-time period boost in energy prices. December crude oil closed at $86.28 per barrel, up 23c and with an uncertain observe of Hurricane Sandy, we cannot determine what, if any, disruptions will occur. Nevertheless, we continue to anticipate lowered demand tied to world financial weak spot and consequently still lower prices. The Energy Division said supplies had been up 5.9 million barrels last week, the best degree for this time of year since no less than 1982. Hold put positions and add on any rallies tied to the hurricane.

Copper: December copper closed at $3.5350 down 1.fifty five on persevering with weak demand from China and in conjunction with European and U.S. economic concerns. We proceed to anticipate lower costs tied to reduced demand and would maintain put positions.

 

Valuable Metals: December gold closed at $1,711.90 per ounce, down $1.10 tied to U.S. GDP figures as well as client sentiment and financial indicators from Spain and South Korea. We stay sidelined in gold and silver. December silver closed at $32.04 per ounce, down 4c in keeping with comparable standards for gold. Of the 2 markets, should investors require valuable metal holdings, we proceed to want silver. In any other case stay out for now. January platinum closed at $1,546 per ounce, down $22.eighty while December palladium misplaced $9.10 to shut at $595.40. We continue to want palladium over platinum.

The greenback gained versus the euro as the Federal Reserve maintained asset-purchase programs with out suggesting it’s nearer to boosting stimulus, reducing concern extra measures will debase the currency.

The shared foreign money fell towards most main friends as a gauge of German business confidence sank to its lowest since February 2010. The euro’s losses were limited amid speculation Greece will get its next installment of aid. Australia’sdollar climbed after an business report signaled the slowdown in Chinese language manufacturing was waning. The Fed is buying $forty billion of debt a month in its third round of quantitative easing.
U.S. Government Required Disclaimer - Commodity Futures Trading Commission

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