Archive | January, 2010

The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun

Last week we expressed caution that the risk sell-off that has characterized the month of January was at a tipping point. That point has been broken to the downside and we are now expecting a further unwinding of long risk positions, which should see stocks, commodities and the JPY-crosses (EUR/JPY, AUD/JPY, etc) extend recent declines […] [...more]

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Daily Oil Analysis January 29 2010

Near-term (daily chart). The market is oversold so some support on Thursday. The RSI is just below oversold and the Slow Stochastic is also crossing below the oversold line. Good combination and some support for the price action because of it. Nice intermediate downtrend line forming which I’ll draw on tomorrow. This MACD is still […] [...more]

PhilSmith Comments Off on Daily Oil Analysis January 29 2010

Crude Trades Near $74 on U.S. GDP Growth

2010-01-29: Crude Trades Near $74 on U.S. GDP GrowthCrude Oil prices reached $74 a barrel on Friday as investors focused on U.S. Gross Domestic Product data for the 4th quarter that is expected to show strong growth. Prices were slightly lower Thursday after the U.S. dollar rose to its highest level in more than 6-months […] [...more]

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CFTC wants big players to trade on exchanges

Congress should require banks and other big players to trade derivatives on regulated exchanges as an “absolutely essential” part of regulatory reform to prevent another market crisis, the chief U.S. futures regulator said on Wednesday. Exchange trading of “standardized” swaps is an important element in the Obama administration proposal to bring over-the-counter derivatives under federal […] [...more]

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Oil Increases Following American Inventories Report

2010-01-28: Oil Increases Following American Inventories ReportFollowing Wednesday’s news that U.S. Oil inventories unexpectedly fell last week, prices increased somewhat significantly to the current level of 73.90. Investors hoping for prices to remain at or near the $74.00 level were pleasantly surprised by yesterdays report. Typically when inventories fall, demand goes up, thereby driving up […] [...more]

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Spot Crude Oil Breakout Anticipated by Investors

2010-01-27: Spot Crude Oil Breakout Anticipated by InvestorsA steadily declining price of oil has many investors worried that a breakout is almost overdue. The price declined from roughly $84 a barrel down 11% to just under $75 a barrel over the past few weeks, but has recently leveled off into a consolidation trend on the […] [...more]

ForexYard Comments Off on Spot Crude Oil Breakout Anticipated by Investors

Oil Falls on Forecast Gain in U.S. Supply, China Credit Concern

Crude oil fell before a report forecast to show that crude supplies increased in the U.S. last week, while concerns persisted that China will tighten credit. Oil traded below $75 a barrel in New York as the dollar strengthened against the euro, dulling the appeal of crude as an inflation hedge. Lending growth in China […] [...more]

Price Action Comments Off on Oil Falls on Forecast Gain in U.S. Supply, China Credit Concern

Spot Crude Oil Prices Rise with U.S. Stocks

2010-01-26: Spot Crude Oil Prices Rise with U.S. StocksSpot Crude Oil traded higher after Monday’s trading session. This puts an end to the 3 consecutive day skid in Crude Oil prices. The commodity climbed higher due to a late day rise in U.S. equities. Crude Oil was trading at $74.90 after opening the day at […] [...more]

ForexYard Comments Off on Spot Crude Oil Prices Rise with U.S. Stocks

Crude Oil Drops to $74.06 a Barrel

2010-01-25: Crude Oil Drops to $74.06 a BarrelCrude Oil continues to decline sharply. With the beginning of last week, Crude Oil was traded at $78 a barrel, however as the week progressed, the prices of Oil fell, and a barrel of Crude Oil is now traded for around $74.50. Two reasons led to Crude Oil’s […] [...more]

ForexYard Comments Off on Crude Oil Drops to $74.06 a Barrel

USGS claims Venezuela sits on Earth’s largest oil reserves

Venezuela may have just become the center of an energy-starved world. The Orinoco Belt, situated squarely underneath the South American nation, may hold some 513 billion barrels of crude oil, according to a new report by the U.S. Geological Survey (USGS). That’s twice the size of Saudi Arabia’s oil reserves, placing Venezuela firmly atop the […] [...more]

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