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Oil N' Gold Focus Reports
Weekly fundamentals - OPEC Members Ramp Up Production ahead of Output Cut Begins Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sun Dec 18 16 02:04 ET
Although USD gathered momentum and rose further after the FOMC meeting, crude oil prices resumed recent rally with both benchmarks settled above US$50/bbl. The front-month Brent crude contract has sustainably closed at around mid-50 levels over the past 3 weeks.
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Equities Higher after Digesting Expectations of More Rate Hikes Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Dec 16 16 03:05 ET
Investors appeared to have swiftly digested the news of three possible rate hikes next year and sent equities higher. Asian shares held onto gains in the afternoon session. Yet, China continues to curb capital outflows following Fed funds rate hike.
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Crude Oil Plunged as Sentiment Weighed Down by Rate Hike Forecasts Next Year, Rise in Cushing Stockpile Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Dec 15 16 02:02 ET
Market sentiment diminished as the Fed signals three rate hikes in 2017, up from two projected previously. The Fed, as widely expected, increased the policy rate by +25 bps in December. The accompanying statement delivered a more hawkish tone, indicating solid growth in the job market. The latest dot-plot was the most eye-catching...
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Risk Appetite Soars as FOMC Prone to Announce Rate Hike Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Dec 14 16 00:22 ET
Market sentiment was buoyed as the FOMC began its 2-day monetary meeting. A rate hike of +25 bps has been fully priced in. Equities strengthened while bond yields rose. US dollar traded generally against major currencies. European shares jumped to the highest level in 11 months as driven by Italy's banking sector ...
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Market Mixed ahead of FOMC Meeting Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Dec 13 16 00:42 ET
The market is cautiously awaiting the FOMC meeting. Equities were mixed despite rally in oil prices. European shares rose earlier in the day but then reversed gains. Gold-mining shares suffered from the recent decline in gold prices while Italian banks fell amidst ongoing concerns over the country's banking sector.
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Crude Oil Prices Rally on OPEC/Non-OPEC coordination. US Oil Rigs Jumped Most in More than a Year Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Dec 12 16 00:34 ET
Crude oil prices rallied as non-OPEC producers announced over the weekend that they would coordinate with OPEC member in production cut. The front-month WTI contract has gained +2.44% while the Brent contract has been up +2.31% at the time of writing this note, after a modest pullback last week.
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Weekly Fundamentals - Eleven Non-OPEC Producers Reach a Deal to Cut Output Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sun Dec 11 16 08:54 ET
For the first time since 2001, non-OPEC producers agreed to coordinate with OPEC members to cut oil production. Russia, along with 10 other countries including Mexico, Oman and Azerbaijan over the weekend agreed to lower total output by -0.558M bpd.
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ECB Tapers... Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Dec 09 16 00:48 ET
ECB's plan to taper indeed caught the market in surprise. Yet, after initial shock, stocks were back in shape and recorded another session of gains on Thursday. The European Stoxx 600 index rose +1.23%.
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Market Expects ECB to Extend Stimuli Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Dec 08 16 02:22 ET
Sentiment remains upbeat ahead of the ECB meeting. European shares extended gains although Italy's Treasury denied that it would seek 15B of financial assistance ...
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Equities Firmed as Italy Plans to Nationalize Banks. Investors Shrugged Off Italian Referendum Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Dec 07 16 00:39 ET
Stock markets rallied ahead of ECB meeting. Led by the +4.4% rally in the banking sector, European shares rose with the broad Stoxx 600 index up +1%. Italian bank shares jumped +9%, lifting the country's FTSEMib index by +4.15% at close.
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Weak Sentiment Contained as Investors Move to ECB from Italian Referendum Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Dec 06 16 00:41 ET
Negative sentiment as a result of a "no" vote in the Italian referendum was rather contained. Both European and US' stocks recovered after initial selloff. Europe's Stoxx 600 index gained +0.56% for the day.
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