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According To Energy InformationTitle:
Oil down as equities dip on Greek, euro zone woes
Crude oil futures tumbled on Wednesday, coming under pressure with U.S. equities, as banking troubles in Greece further highlighted the euro zone debt crisis, sparking risk aversion across markets.
The European Central Bank confirmed a Reuters report that it has stopped providing refinancing to some Greek banks as they are severely undercapitalized, keeping oil and other commodity prices pinned down.
The ECB move had erased an uptick in oil prices in morning trading after U.S. data showed that domestic stockpiles rose much less than what an industry group reported late on Tuesday.
Title:
Dukascopy Afternoon Forex Overview : 05/16/2012
Dukascopy Fundamental Analysis
EUR
Stoxx Europe 600 index have dropped for third consecutive day and reached the lowest level since the start of this year as specialists speculate that elections in Greece could take place as early as 10 of June. The index lost 0.5% of its value by noon in London and around 10% from its peak this year in mid-March.
USD
Facebook increases the share offering by 25% to 421.2M shares to collect near $16B. At the offering's price of $34-$38 per share Facebook is rushing towards the largest technology IPO in the history. Production of utilities, mines and factory's in the U.S. surpassed expected 0.6% level and increased by 1.1% in April.
GBP
The number of unemployed people for January-March decreased to 2.63 million, 45,000 down on the quarter, the Office for ...
Title:
Oil falls on euro zone, WTI at six-month low
Oil prices slid with world shares and the euro on Wednesday as investors fled from riskier assets, while a surprise build in U.S. crude inventories helped send the WTI benchmark to a more than six-month low.
The possibility a political crisis in Greece may force the country's exit from the euro zone and send the region into deeper financial turmoil is fanning concerns about a slowdown in global demand for oil.
"One element contributing to the decline in oil prices is general investor risk aversion stemming from euro zone concerns and an increased risk of a general economic slowdown," said Gareth Lewis-Davies, a senior energy strategist at BNP Paribas.
It has also helped send the euro to a four-month low against the dollar, another factor weighing on oil prices on Wednesday.
"Another is ...
Title:
Oil drops $1 on U.S. stockbuild, Greece; WTI hits 6-month low
Oil fell more than $1 on Wednesday, with the U.S. benchmark dropping to a more than 6-month low, as a larger-than-expected rise in crude stocks in the United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth.
Investors are worried about the demand for oil as a prolonged political crisis in Greece may push Europe into a deeper financial mess at a time when China is slowing and the U.S. economy remains fragile. Yet, limited spare capacity and fears of a supply disruption have put a floor under prices.
Brent crude slipped $1.39 to as low as $110.85 a barrel by 2:42 a.m. EDT, declining for four out of the past five sessions. U.S. oil fell $1.68 a barrel to $92.30 after earlier slipping to $92.13, the lowest since November 3.
"A further $2-$3 fall is ...
Title:
Oil falls $1 on rise in U.S. stocks, economic woes
Oil prices fell more than $1 on Wednesday as a larger-than-expected rise in crude stocks in top consumer United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth.
Investors are worried about the demand for oil as a prolonged political crisis in Greece may push Europe into a deeper financial mess at a time when China is slowing and the U.S. economy remains fragile. Yet, limited spare capacity and fears of a supply disruption have put a floor under prices.
Brent crude slipped as low as $111.20 a barrel and traded at $111.25 by 0318 GMT, sliding for four out of the past five sessions. U.S. oil fell $1.23 a barrel to $92.75, the lowest since December 19.
"A further $2-$3 fall is acceptable under current conditions," said Tetsu Emori, a Tokyo-based ...
Title:
Oil eases to around $113 on weak Chinese data
(Reuters) - Oil fell to around $113 per barrel on Thursday as weaker-than-expected Chinese trade data highlighted concerns over energy demand in the world's second-largest oil consumer.
Downbeat comments by the Organization of the Petroleum Exporting Countries also weighed on the market. The group's monthly report said oil supply was plentiful and in excess of market requirements.
Brent crude oil futures for June lost 10 cents to $113.10 a barrel by 07.06 a.m. EDT after settling at $113.20 on Wednesday, up 47 cents. U.S. crude fell 40 cents to $96.41 per barrel.
Brent has fallen sharply from highs of around $126 per barrel in April due to worries about political turmoil in Europe and a growing conviction that the market is well supplied.
Analysts remained downbeat about prospects for ...
Title:
Brent drops below $113 after China trade data
(Reuters) - Brent crude slipped below $113 on Thursday, after weaker-than-expected Chinese trade data that raised concerns over energy demand at the world's second-largest oil consumer.
Government data showed China's exports and imports in April grew at a far slower rate than forecast.
Prices were also pressured by signs of rising U.S. crude inventories, although this was tempered by falling refined fuel stocks at the world's top oil consumer.
"The weak Chinese data is putting more pressure on oil. With demand for oil looking bleak and rising inventories, I don't expect crude oil prices to rebound any time soon," said Miguel Audencial, a trader with CMC Markets in Sydney.
Brent crude lost 55 cents to $112.65 a barrel by 23:40 EDT (0340 GMT), after settling at $113.20 on Wednesday, up ...
Title:
The Weekly Bottom Line : 04/05/2012
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
- U.S. job creation may have weakened in the last few months, but the grounds for sustaining stronger employment growth are more fertile now than have been since the economic recovery began. Europe's labor market, by contrast, is likely to deteriorate further before it gets better.
- Europe's (nonfinancial) corporate sector is highly leveraged. As balance sheet adjustments are made, Europe risks further decreases in investment, higher layoffs, and lower economic growth. These effects are compounded by deleveraging in the public sector.
- U.S. corporations, by contrast, are more profitable and liquid than they have ever been. At some point some of these funds will be unleashed towards new investment, creating a positive ...
Title:
Oil at 3-month lows under $115 after U.S. jobs data
(Reuters) - Oil fell to three-month lows of under $115 per barrel on Friday and was on course for its steepest weekly fall since December after a weak U.S. jobs report added to doubts about the pace of economic recovery in the world's biggest oil consumer.
U.S. employers hired 115,000 workers last month, the Labor Department said on Friday, which was below the 170,000 new jobs forecast and led to concerns that demand growth could stall.
By 1241 GMT, Brent crude oil futures lost $1.48 to $114.60 a barrel, lows not seen since early February this year.
U.S. crude fell by $1.87 to $100.67, levels not seen since mid-April.
"The poorer U.S. economic data from the past two days have sparked doubts that oil demand will recover in the US, the world's largest consumer of oil," Commerzbank oil ...
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