Posts Tagged ‘european union’

Strategie Grains Cuts EU Rapeseed Crop Estimate Once Again

Monday, August 1st, 2016

Consultancy Strategie Grains cut its estimate for the European Union’s rapeseed harvest for the third month in a row on Monday (August 1) due to lower than expected yields in major producing countries where harvesting is in full swing.

It said the EU should harvest 20.7 million tonnes of rapeseed this year, a forecast revised down by 570,000 tonnes from last month, and now nearly 6 per cent below 2015.

Strategie Grains mainly cut its estimates for France, Germany and Poland due to lower yields. The cuts were only partly compensated by smaller rises in Hungary, Bulgaria, the Czech Republic, Denmark and Lithuania.

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Oil Rallies as Fears Over Brexit Cool Down

Monday, June 20th, 2016

Oil rallied on Monday (June 20), lifted by a wave of investor confidence and a weaker dollar after polls showed a diminishing chance that Britain may vote to leave the European Union later this week.

August Brent crude futures were up 85 cents at $50.02 a barrel by 5.55am New York time, set for a gain of 6 per cent in two trading days. NYMEX crude for July delivery, which expires on Tuesday (June 21), was up 80 cents at $48.78 a barrel.

Campaigning for Britain’s vote on EU membership resumed on Sunday (June 19) after a three-day hiatus prompted by the brutal killing of Batley & Spen MP Jo Cox of ┬áthe ‘Remain’ camp.

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Gold Hits 4-week High as Cenbank Meets and Brexit Vote Shakes Stocks

Monday, June 13th, 2016

Gold hit its highest since mid-May today, Monday (June 13), driven higher by a retreat of the dollar and as stocks were knocked by rising risk aversion before key central bank meetings this week and a June 23 vote on whether Britain should leave the European Union.

The pound fell to a two-month low against the dollar, pushing gold denominated in sterling to its highest in nearly three years at 909.83 pounds an ounce, up 1.9 per cent.

Spot gold was up 0.8 per cent at $1,283.66 an ounce at 09.40 GMT, off an earlier peak of $1,284.50. U.S. gold futures for August delivery were up $11.10 an ounce at $1,287.00.

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Oil rally related to Middle East conflicts

Wednesday, May 8th, 2013

Oil rally in the Middle East conflictIn the latest trading news for commodities, crude oil has continued its rally as tensions continue to mount in the Middle East. With no end in sight in the conflict in Syria and as rumours of chemical weapons crimes continue to mount, trading analysts are beginning to speculate whether western powers may eventually be forced to intervene.

Although the geopolitical situation in the Middle East has caused oil to post gains of 6% in the last three trading sessions, any substantial rise has been dampened by the United States’ domestic market.
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Why positive market results in China, EU and US?

Monday, January 28th, 2013

Economical growth in China Shanghai, AsiaThis past week has seen mixed results in commodities trading, with many online traders keeping careful watch on the relatively positive market sentiment emerging from China, Europe and the United States.

Much of this data serves to temporarily paint a rather bullish picture for economic growth in the short and medium-term.

Highlights included China’s manufacturing index hitting a two year high, the European purchasing manager’s index reaching a ten month apex and United States’ jobless figures emerging significantly lower than expected for the second week in a row.

Naturally, these statistics have been directly reflected in commodities trading.
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Can Chinese manufacturing offset sluggish US and Eurozone activity?

Friday, November 23rd, 2012

China ShanghaiHSBC’s purchasing managers’ index (PMI) for China has rebounded into positive territory in November, for the first time in over a year. This month’s PMI is reported at 50.4, indicating growing manufacturing output which should be bullish for industrial commodity markets.

Chinese authorities continue to ease bank lending reserve regulations, and investment and domestic consumer demand are expected to rise, potentially halting recent declines in China’s growth rate. Whether this is sufficient to counteract falling exports to the still-fragile Eurozone and USA remains to be seen.
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