Oil N' Gold - Resources for Serious Traders
Oil N' Gold Focus Reports
Strong UK Inflation Raises Bet for a Hawkish BOE Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Sep 12 17 23:10 ET
Better-than-expected inflation data raised hopes for a BOE rate hike, lifting the British pound. After gaining +0.61% against USD and +0.79% against EUR, GBP has remained firm today. We do not believe strong CPI in August would lead to a rate hike at the upcoming meeting as growth has remained slow while Brexit negotiations are highly uncertain.
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Crude Oil Climbed on Hopes that OPEC/Non-OPEC Cuts Would Extend Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Sep 11 17 23:22 ET
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 +1.24% while the Brent contract climbed +0.11% higher. Precious metals slipped on profit-taking and eased geopolitical tensions.
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US Inflation in Focus; BOE, SNB and Chinese Data Due This Week Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Sep 11 17 00:11 ET
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 suggested that reconstruction would booth the economy in the long run. As Dudley suggested last Thursday, "the US economy will continue to perform quite well, with slightly above-trend growth leading to further gradual tightening of the US labor market".
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Weekly Fundamentals - Gold's Rally Driven by Fall in Yields and USD, and Geopolitical Tensions Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Sep 08 17 22:58 ET
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 Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Sep 07 17 23:27 ET
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 of hurricane Irma, as the impacts of hurricane Harvey appeared to be severer than expected, as the inventory report suggested.
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Trump-Democrats' Deal Lifts Sentiment, Containing USDCAD's Decline Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Sep 06 17 22:51 ET
There are several surprises that rocked the financial markets. First, the BOC unexpected raised the policy rate by +25 bps to 1%. Second, US President Donald Trump sided with the Democrats and reached a deal to extend the debt ceiling alongside provision of aids for the victims of Hurricane Harvey. Third, Vice Fed Chair Stanley Fischer announced that he would resign his position...
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Oil Prices to Remain Volatile as Irma Approaches Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Sep 06 17 00:42 ET
The front-month WTI crude oil contract gained +2.9% while the Brent contract was up +1.99%. The Nymex RBOB gasoline contrac, however, fell -2.79%, after slumping -18.32% last Friday. Oil traders are cautiously monitoring the development of Category 5 hurricane Irma which is on course to make landfall in Florida at the weekend.
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US Urges for Stronger Sanctions against North Korea, Effectiveness in Doubt Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Sep 05 17 00:40 ET
The focus remains in the heightened North Korean tensions. Demand for safe-haven assets increased with Swiss franc and Japanese yen the best performers (amongst the majors) against US dollar. USDCHF fell -0.68% while USDJPY was down -0.55%. US stock and bond markets were closed for public holiday. The impacts should be reflected as markets reopen today.
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Another Nuclear Test in North Korea Rattles Financial Markets Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sun Sep 03 17 23:23 ET
Financial markets begin the week in a risk-off mode, as investors assess the impacts of North Korea's 6th nuclear test over the weekend – launching an advanced hydrogen bomb for a long-range missile. The South Korean government earlier today expressed concerns over the geopolitical tensions' impact on the real economy, pledging to implement contingency policies to stabilize the economy if needed.
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Weekly Fundamentals - Harvey's Impacts on US Economy Doomed to be Short-Lived Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sat Sep 02 17 06:55 ET
The US oil market has a volatile week, as traders gauged the impacts of Hurricane Harvey, one of worst storms in decades that hit the US major oil producing region- the Gulf Coast. The front-month RBOB gasoline contract slumped -18.32% on Friday. However, this was only a retreat after a sharp rally. The contract has jumped more than +10% since August 24, when Harvey began intensifying rapidly and becoming a hurricane.
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USDCAD Plunged on Strong Canadian GDP Growth. US Payrolls Awaited Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Sep 01 17 00:24 ET
Both the FX and oil markets experienced large volatility. For the former, euro reversed early losses against US dollar, after subdued US inflation and Treasury Secretary Steven Mnuchin's comments on weak currency. As Mnuchin suggested, "the short-term issues of the dollar have both positive and negative impacts for different parts of the economy" and "obviously, as it relates to trade, having a weaker dollar is somewhat better for us".
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