Oil N' Gold - Resources for Serious Traders
Oil N' Gold Focus Reports
Rajoy Created His Own Political Muddle; USD Firmed on Strong Manufacturing Data Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Oct 02 17 23:36 ET
While most news headlines are focused on the terrorist attack in Las Vegas, Wall Street strengthened on strong US manufacturing data. The DJIA and S&P 500 indices added +0.7% and +0.4% respectively. European shares also gained with the exception of Spain. The broad European Stoxx 600 index gained +0.5%, compared with a -1.5% selloff in Spain's benchmark IBES index.
Read more...
 
90% Voters Opt for Catalonia Independence, amidst Violent Attack by Central Government Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Oct 02 17 01:14 ET
On Sunday, the world has witnessed the violent suppression of the Spanish government on the Catalonia people would are fighting for independence. Despite the brutal attack by the national police (firing rubber bullets, seizing ballot boxes from polling stations, etc), the preliminary results of the Catalan referendum for independence show 90% in favor of independence with a turnout rate of 42.3% (2.3M votes).
Read more...
 
Weekly Fundamentals - Brent's Backwardation Should Contune to Support Price Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sat Sep 30 17 06:37 ET
Crude oil prices ended the third quarter with strong gains, driven by better demand outlook and tighter supply as OPEC/non-OPEC producers continued to curb output. The WTI crude oil contract rose +12%, while the Brent contract surged +20%, in 3Q17. However, the former has remained in the negative territory while the latter has registered mild gain year-to-date.
Read more...
 
Market Still Thrilled by US Tax Plan; Busy Data Calendar Ahead Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 28 17 23:19 ET
Wall Street extended gains as investors expect the US Congress would likely pass the tax reform bill and as economic data were encouraging. The DJIA and S&P 500 indices rose +0.2% and +0.1% respectively. US dollar retreated with the DXY index slipping -0.3% after a 3-day rally. GBPUSD recovered after falling over the past 4 days, despite the lack of progress in the Brexit talks.
Read more...
 
Sentiment Buoyed by US Tax Reform Plan Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 28 17 00:33 ET
Risk appetite was supported by the US tax plan announcement. While the details of the plan had been leaked, the market was thrilled as the plan is supported by the "Big 6", signaled more political hurdles have been overcome. Wall Street rose, so as the greenback and Treasury yields. The DJIA gained +0.3% while the S%P 500 index was up +0.4% for the day. US dollar gained with the DXY index adding +0.42%.
Read more...
 
Unexpected Decline in US Inventory Contained Oil's Retreat; Tax Reform Plan Awaited Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Sep 26 17 23:18 ET
Oil prices pulled back after the previous day's rally. The front-month WTI crude oil contract dropped -0.65% while the Brent contract fell -0.98% for the day. The surprisingly decline in US inventory released after market helped contained the retreat. In the precious metal complex, the benchmark Comex gold and silver contracts were down -0.75% and -1.49% respectively.
Read more...
 
Brent Surged as Turkey Threatened to Cut Kurdish Oil Exports Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Sep 26 17 00:22 ET
Tensions in the Middle East and North Africa (MENA) are still influential on oil prices. Turkey's threat to cut off oil exports from Iraq's Kurdish region lifted oil prices. The front-month WTI crude oil contract jumped +3.08% to settle at 52.22, highest close in 5 months. The Brent contract surged +3.8% to close at 59.02, a level not seen since July 2015.
Read more...
 
Kiwi and Euro Fell After Elections Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sun Sep 24 17 23:51 ET
The exciting weekend was dominated by two political events – the New Zealand and German Elections. NZDUSD plunged to a 1-week low while the EURUSD is modestly lower. The biggest parties in both elections failed to secure the majority of seats. As such, they are unable to form a government without entering coalition with other parties. For New Zealand election, the National Party has won 58, down 2 from the previous term and 3 short of majority.
Read more...
 
Weekly Fundamentals - Traders Remain Hopeful Although Oil Producers Shrugged Off Extending Output Cut Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Sep 22 17 23:23 ET
Crude oil prices extended gains for a third consecutive week, as the impacts of Hurricane Harvey and Irma gradually fade away. The OPEC/non-OPEC meeting did not signal intention to extend the output cut deal. Yet, the market remains hopeful that the producers would eventually, probably by January 2018, agree on it. The meeting on Friday was a monitoring committee meeting ...
Read more...
 
OPEC/Non-OPEC to Meet; NZ and German Elections in Focus Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 21 17 23:26 ET
Crude oil prices climbed higher modestly as traders await the OPEC/non-OPEC meeting today. The front-month WTI crude oil contract added +0.28% and settled at 50.55 while the Brent contract was up +0.25% and settled at 56.43. Precious metals were pressured further after Fed's formal announcement of balance sheet reduction and the signal to raise the policy rate one more time this year.
Read more...
 
Fed to Begin Balance Sheet Normalization in October; One More Rate Hike by Year-End; Crude Oil Prices Jumped on Potential Output Cut Extension Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 21 17 01:02 ET
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 September. The members were unmoved by weak inflation and appeared committed to adopt one more rate hike before year-end.
Read more...
 


JPAGE_CURRENT_OF_TOTAL