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Fed to Begin Balance Sheet Normalization in October; One More Rate Hike by Year-End; Crude Oil Prices Jumped on Potential Output Cut Extension

September 21, 2017 Oil N' Gold 0

US dollar jumped while Wall Street declined after the FOMC delivered a more hawkish than expected announcement. While the market had largely anticipated the Fed would begin balance sheet reduction in October and leave the policy rate unchanged in Septe…

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Crude Oil Prices Range-Bounded at 7-Week High; FOMC Awaited

September 20, 2017 Oil N' Gold 0

Crude oil continued to consolidate around the highest levels in 7 weeks. The inventory build probably weighed on prices, sending both benchmarks lower at close. Traders were also cautiously awaiting the FOMC meeting and the OPEC/non-OPEC meeting due Fr…

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USD, Stocks and Yields Higher ahead of FOMC Meeting

September 19, 2017 Oil N' Gold 0

Financial markets were in a risk on mode ahead of the FOMC meeting. In the commodity sector, safe haven assets lost appeal with the benchmark Comex gold and silver contracts falling -1.07% and -3.07% respectively. Oil prices were mixed. While the front…

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Weekly Fundamentals – Crude Oil Prices Rebounded Further on Better Fundamental Outlook

September 16, 2017 Oil N' Gold 0

Crude oil prices rallied last week as the market has been more optimistic over the demand/supply balance. Besides the potential extension of the OPEC/non-OPEC output cut deal for another three months, each of the latest monthly reports released by the …

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Greenback Mixed as Better Inflation Overshadowed by Renewed North Korean Threat. Sterling Lifted by Rate Hike Hopes

September 15, 2017 Oil N' Gold 0

US dollar was mixed against major currencies as the better-than-expected inflation data was offset by ongoing debt ceiling concern from mid-December. North Korea’s launch of another missile also heightened safe-haven demand(North Korea fired a ballisti…

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US Tax Reform; Downside Surprise in Chinese Data; BOE

September 14, 2017 Oil N' Gold 0

US dollar strengthened across the board on rekindled hopes of tax reform. The greenback rose across the major currencies, sending the DXY index +0.7% higher at close. The greenback was in particular strong against commodity currencies, after falling st…

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Crude Oil Climbed on Hopes that OPEC/Non-OPEC Cuts Would Extend

September 12, 2017 Oil N' Gold 0

Crude oil prices gained modestly as investors were gauging the impacts of the recent hurricanes on US oil production. Meanwhile, they were hopeful that the OPEC/non-OPEC output cut deal might extend beyond March 2018. The front-month WTI contract added…

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US Inflation in Focus; BOE, SNB and Chinese Data Due This Week

September 11, 2017 Oil N' Gold 0

Financial markets move sideways as the week begins, as investors are gauging the impacts of natural disasters in the US. Hurricane Irma and Hurricane Harvey are expected to hurt the US economy for months, although NY Fed President William Dudley sugges…

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Weekly Fundamentals – Gold’s Rally Driven by Fall in Yields and USD, and Geopolitical Tensions

September 9, 2017 Oil N' Gold 0

The breach above US$ 1350/oz on Friday has brought gold price to the highest level in 13 months and is approaching a key resistance – the 2016-peak. For a third weekly rally, the benchmark Comex gold contract gained +1.63%. The yellow metal has rallied +17% since the beginning of the year and the upward momentum has accelerated since July.

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Energy Prices Mixed as Hurricane Irma Approaches Florida

September 8, 2017 Oil N' Gold 0

While the front-month WTI crude oil contract slipped -0.14%, the Brent contract added +0.54% for the day. For refined oil products, the RBOB gasoline contract dipped -0.74% while the heating oil contract gained +1.51%. Traders are monitoring the path o…

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