Oil Prices Continue Lower Ahead of EIA Weekly Supply Report-SapForex24

crude futures slumped 44 cents, or 0.7%, to $64.06 a barrel by 3:45AM ET (0845GMT), its lowest level in around a week. On Tuesday, the U.S. benchmark fell $1.06, or 1.6%, to $64.50 a barrel.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 42 cents, or roughly 0.6%, to $68.10 a barrel, after losing 68 cents, or 1%, a day earlier.

In other energy trading, gasoline futures dropped 0.2% to $1.851 a gallon, while heating oil shed 0.4% to $2.059 a gallon.

Natural gas futures sank 13.5 cents, or 4.3%, to $3.059 per million British thermal units, as updated weather forecasting models called for milder weather, which should dampen demand for the heating fuel.

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Gold Prices Continue Lower as Markets Await Fed, Trump-SapForex24

Comex gold futures were down around $6.00, or 0.5%, to $1,334.40 a troy ounce by 3:10AM ET (0810GMT). It fell to a one-week low of $1,332.80 in overnight trade.

Meanwhile, silver futures shed 6.2 cents, or 0.4%, to $17.06 a troy ounce, after tumbling 31.4 cents, or 1.8%, a day earlier.

Gold futures lost 0.9% on Monday as the dollar extended its rebound from a three-year nadir and benchmark Treasury yields cleared their highest level since April 2014.

The dollar continued higher, rising almost 0.3% against a basket of six major currencies to 89.44 in early trade, having pulled up from a low of around 88.25 set last week, its weakest level since December 2014.
In other metals action, palladium prices slumped 1% to $1,072.15 an ounce.

Sister metal platinum meanwhile dropped 1.6% at $996.40 an ounce. March copper shed 0.9% to $3.166 a pound.

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Dollar index holds steady as markets await Trump's speech and Fed-SapForex24

The dollar held above a recent three-year low against a basket of major currencies on Tuesday, with traders turning their attention to U.S. President Donald Trump's State of the Union speech and a Federal Reserve policy meeting for catalysts.

The dollar rose 0.1 percent against a basket of six major currencies to 89.430, having pulled up from a low of around 88.43 set last week, its weakest level since December 2014.

Analysts said a renewed rise in U.S. bond yields this week lent some support to the dollar. The U.S. 10-year Treasury yield reached a peak of 2.733 percent in Asian trading on Tuesday, the highest since April 2014, and last stood at 2.712 percent.

The euro eased 0.1 percent to $1.2373, edging away from a three-year high of $1.2538 touched last week.
Trump said on Monday he will address his proposed immigration overhaul in his State of the Union speech as well as his efforts to lower trade barriers around the world for American exports.

The president will also outline his much-anticipated infrastructure plan in the speech.

Against the yen, the dollar eased 0.2 percent to 108.78 yen, edging back in the direction of a 4-1/2 month low of 108.28 yen set on Friday.

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Oil Prices Start the Week Near Recent Highs Amid OPEC Optimism-SapForex24

U.S. West Texas Intermediate (WTI) crude futures inched up 19 cents, or 0.3%, from their last close to $66.33 a barrel .

The U.S. benchmark reached its best level since Dec. 4, 2014 at $66.66 last Thursday.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 11 cents, or roughly 0.2%, to $70.04 a barrel. The contract touched $70.78 on Thursday, a level not seen since Dec. 2014.

gasoline futures held steady at $1.925 a gallon, while heating oil shed 0.4% to $2.119 a gallon.

Natural gas futures sank 7.9 cents, or 2.5%, to $3.095 per million British thermal units, as updated weather forecasting models called for milder weather next week.

The commodity soared about 10% last week, as traders reacted to a blast of cold weather which upped demand for the heating fuel.

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International Market Update by SapForex24: 19-Jan-2018

Gold:1332.50

Silver:17.050

Crude Oil:63.09

Copper:3.212

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Gold Prices Back Off 4-Month Highs as Dollar Rebounds-SapForex24

Comex Gold futures were at $1,335.50 a troy ounce by 3:25AM ET (0825GMT), down around $2.00, or 0.1%, from the last session's closing price. It hit the best level since Sept. 8 at $1,345.00 a day earlier.
silver futures were little changed at $17.19 a troy ounce. It reached a three-month high of $17.42 on Monday.

The dollar index, which gauges the U.S. currency against a basket of six major rivals, inched up from a more than three-year low. It was last at 90.38, after dropping as low as 89.98 on Tuesday, its deepest nadir since December 2014.

palladium prices tacked on 0.7% to $1,096.60 an ounce. It marked a record-high of $1,133 on Monday thanks to soaring demand for the auto industry.

Sister metal platinum meanwhile inched up 0.2% to $1,006.40 an ounce, after touching its strongest since Sept. 8 at $1,012.50 in overnight trade.

March copper dipped 0.6% to $3.201 a pound.

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Oil Prices Hold Near 3-Year Highs; U.S. Drilling, OPEC Cuts in Focus - SapForex24

U.S. West Texas Intermediate (WTI) crude futures tacked on 8 cents to $64.38 a barrel.It rose to its highest since Dec. 2014 at $64.77 last Thursday.

In other energy trading, gasoline futures held steady at $1.847 a gallon, while heating oil was little changed at $2.084 a gallon.

Natural gas futures declined 4.6 cents, or 1.5%, to $3.154 per million British thermal units. It soared nearly 15% last week, after data showed the largest withdrawal on record in U.S. supplies in storage.

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Forex - Dollar Dips after Fed Minutes, Upbeat U.S. Data-SapForex24

The dollar dipped on Thursday after ending the previous session higher as upbeat U.S. data and the minutes of the Federal Reserve’s latest policy meeting helped it recover from recent losses.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged down 0.07% to 91.83 by 02:58 AM ET (07:58 AM GMT).

On Tuesday, the index had fallen to three-and-a-half month lows of 91.47.
The euro moved higher, with EUR/USD rising 0.17% to 1.2035 after losing around 0.4% on Wednesday. The single currency had hit a four-month high of 1.2080 on Tuesday, putting it within striking distance of a September peak of 1.2092, its strongest level since early 2015.

The dollar was little changed against the yen, with USD/JPY at 112.54, having pulled up from Tuesday’s two-and-a-half week lows of 112.04.

The pound was steady, with GBP/USD at 1.3520 after sliding 0.57% the previous day to pull back from a three-and-a-half month high of 1.3612.

Meanwhile, the Australian and New Zealand dollars were higher, with AUD/USD rising 0.22% to 0.7852 and NZD/USD adding 0.47% to trade at 0.7123.

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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 28, 2017-SapForex24

EUR/USD

The pair rallied significantly during the yesterday’s trading session testing the 1.19 level. If the pair manages to break above the 1.1925 level, then it will be an extremely positive sign for the market and also would break the top of the weekly bullish flag. Going forward, the 1.18 level is going to be the important support of this market. The softening of USD in general due to thin liquidity is pushing the market higher.

GBP/USD

The market continued to be very noisy during the Wednesday’s trading session. Initially, the pair went higher reaching the 1.3430 level but got significant resistance and rolled over a bit. Moving forward, the pair is expected to get enough support at the 1.3375 level and will attract buyers into the market. The 1.35 level above will be a bit difficult for this market to cross.

AUD/USD

The AUD moved higher during the day on Wednesday reaching towards the 0.7775 level. Going forward, the 0.78 level is going to be massively resistive extending up to the 0.80 level. The 0.80 level essentially the fair value in the longer term and breaking above will be very bullish sign for the market.

USD/JPY

The USD went sideways during the Wednesday’s session against the JPY as due to thin volume is limiting any big movements in the market. Any bullish attitude in the stock market will send this market higher. This market continues to offer value in dips and 113 level is going to be the important support level and also the 112 level which is also a strong support area.

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Oil prices near 2015 highs on tight market-SapForex24

Oil prices were stable on Thursday with trading activity drying up ahead of the New Year weekend.
U.S. West Texas Intermediate (WTI) crude futures were at $59.69 a barrel at 0336 GMT, up 5 cents from their last settlement. WTI broke through $60 a barrel earlier this week, the first time since June 2015.

WTI received support from a report by the American Petroleum Institute (API) showing a 6 million barrel drop in crude oil inventories to 432.8 million.

Brent crude futures were at $66.50 a barrel, up 6 cents. Brent broke through $67 earlier this week, the first time since May 2015 this week.
In the North Sea, the 450,000 bpd capacity Forties pipeline system was shut earlier this month due to a crack.

Both pipelines are expected to return to normal operations in January, with Forties already in the start-up process.

A major factor countering efforts by OPEC and Russia efforts to prop up prices is U.S. oil production, which has soared more than 16 percent since mid-2016 and is fast approaching 10 million bpd.

Only OPEC king-pin Saudi Arabia and Russia produce more.

The latest official U.S. production figures are due to be published by the on Thursday.

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