By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) -- Japan's yen erased its early losses against major rivals Monday, after an emergency easing by the Bank of Japan failed to stem the currency's strength for long.
The dollar /quotes/comstock/21o!x:susdjpy (USDYEN 84.6500, -0.6900, -0.8087%) slipped to ¥84.94 from ¥85.39 yen in late North American trading on Friday, after rising as high as ¥85.88 after the special meeting was announced. The yen hit a 15-year high versus the dollar last week.
The euro /quotes/comstock/21o!x:seurjpy (EURYEN 107.5300, -1.3700, -1.2578%) also slipped against the yen, buying ¥108.06, down from ¥108.75 late Friday and from a Monday high of ¥109.55.
As many expected, the BOJ said it would expand its current ¥20 trillion quantitative-easing program to six months from its current three-month time frame. It also increased the amount of funds available by ¥10 trillion. Read Asia Markets for more on BOJ.
"The market is clearly viewing these policy moves as actions that are too little too late as the BOJ continues to fight rear-guard action against yen appreciation," said Boris Schlossberg, director of currency research at GFT.
"In fact, instead of steadying the decline in USD/JPY, today's announcement may have only hastened its fall, as speculators may now continue to sell the pair with impunity in the face of these effete policy moves by the Japanese authorities," he said in a note to clients Monday.
Against the dollar, the euro /quotes/comstock/21o!x:seurusd (EURUSD 1.2701, -0.0062, -0.4858%) was buying $1.2729, down from $1.2740 Friday, and the British pound /quotes/comstock/21o!x:sgbpusd (GBPUSD 1.5549, +0.0015, +0.0966%) turned higher to $1.5564, up from $1.5520.
The dollar index /quotes/comstock/11j!i:dxy0 (DXY 82.91, -0.01, -0.01%) , a measure of the U.S. unit against a basket of currencies, traded at 82.781, down from 82.887.
On Friday, the dollar gained on the yen but turned lower against the euro on Friday, in erratic trading after Federal Reserve Chairman Ben Bernanke said the central bank has set no trigger for further monetary-policy easing and sees continued economic growth in the U.S. See Friday's Currencies report.
Source: http://www.marketwatch.com/story/yen-rises-after-bojs-special-easing-disappoints-2010-08-30?siteid=yhoof
Thứ Hai, 30 tháng 8, 2010
Copper News
In Chile, 33 miners trapped half a mile down a copper and gold mine bravely await their rescue. Around the world, cowardly thieves steal copper cable. Both are the result of robust demand for the red metal. At $7,447 a tonne, copper’s spot price is 165 per cent above its mid-financial crisis low, though still 16 per cent shy of its July 2008 pre-crisis high.
Industrial demand explains only part of the increase. Despite doubts over the pace of global recovery, China is growing fast and accounts for 40 per cent of world consumption, and developed economies are restocking depleted stores. Then there is speculative interest from financial investors who are drawn by copper’s supply-demand imbalances.
Source: http://www.ft.com
Thứ Tư, 9 tháng 6, 2010
Current Metals Price In Futures Market
You can trade metal futures on Gold, Silver, Copper, and Aluminum on the COMEX exchange in downtown Manhattan. You can trade Platinum and Palladium on the NYMEX exchange right below the COMEX. These exchanges are both in the same building on 1 North End Avenue in New York City. These exchanges were established solely for the use of commodity trading. Sometime in mid 2009 the NYMEX and COMEX floors will combine because of the amount of space open on the NYMEX exchange. Since the start of electronic trading, the floor volume has deteriorated significantly.
There are two kinds of individuals who trade these metals, hedgers and speculators. A hedger is someone who owns the actual commodity and stores it in a warehouse or some other type of safe place, and has a cash interest in metal prices. For instance a jeweler has a business interest mostly in Gold. He has the physical gold in his shop and sells it to his customers for a profit. Let’s say the price of Gold drops significantly in the futures market. He is worried that he will not be able to meet his overhead cost now that the precious metal prices are lower than they were before. What he can do is sell the exact (or close to it) amount of Gold that he has stored, in the futures pit. This way he is long the actual commodity and short the future. He has put on a hedge, and, if the price of Gold goes lower he will be making money on his short that will offset the price decline of his actual. Speculators are in the market solely to make a profit and help the liquidity to make bids/offers much tighter. The liquidity is usually much higher in Gold than in Silver, and both of these are usually higher than Platinum or Palladium. The more the liquidity the easier it is to get in or out of a position. When you first start trading these metals, trade with gold first as you will have a possible easier time getting out of a position with more liquidity.
There are two kinds of individuals who trade these metals, hedgers and speculators. A hedger is someone who owns the actual commodity and stores it in a warehouse or some other type of safe place, and has a cash interest in metal prices. For instance a jeweler has a business interest mostly in Gold. He has the physical gold in his shop and sells it to his customers for a profit. Let’s say the price of Gold drops significantly in the futures market. He is worried that he will not be able to meet his overhead cost now that the precious metal prices are lower than they were before. What he can do is sell the exact (or close to it) amount of Gold that he has stored, in the futures pit. This way he is long the actual commodity and short the future. He has put on a hedge, and, if the price of Gold goes lower he will be making money on his short that will offset the price decline of his actual. Speculators are in the market solely to make a profit and help the liquidity to make bids/offers much tighter. The liquidity is usually much higher in Gold than in Silver, and both of these are usually higher than Platinum or Palladium. The more the liquidity the easier it is to get in or out of a position. When you first start trading these metals, trade with gold first as you will have a possible easier time getting out of a position with more liquidity.
Thứ Tư, 10 tháng 3, 2010
Advice On Commodity Trading
U.S. Economy
The U.S. Census Bureau said that wholesale sales were up 1.3% in January and up 10.5% from a year ago. Inventories were down .2% in January and down 9.7% from a year ago.
The U.S. Treasury sold $21 billion of 10-year T-notes at a median yield of 3.70% with a bid-to-cover ratio of 3.45. They also posted a budget deficit of $220.9 billion in February, roughly as expected. The June U.S. T-bonds ended down 4/32nds at 116.10/32nds.
Economists surveyed in the Blue Chip Economic Indicators newsletter said that real GDP will be up 3.1% in 2010 and up 3.0% in 2011.
The Mortgage Bankers' Association said that its index of mortgage applications was up .5% last week. The rate on a 30-year fixed rate mortgage averaged 5.01%.
Grains and Cotton
The USDA's 2009-2010 U.S. ending stocks estimate of:Corn was increased from 1.719 to 1.799 billion bushels.Soybeans was reduced from 210 to 190 million bushels.Wheat was increased from .981 to 1.001 billion bushels.Sugar was increased from 1.055 to 1.075 million tons.Cotton was reduced from 3.3 to 3.2 million bales.
The USDA's 2009-2010 world ending stocks estimate of:Corn was increased from 134 to 140 million tons.Soybeans was increased from 60 to 61 million tons.Wheat was increased from 196 to 197 million tons.Cotton was reduced from 52 to 51 million bales.
The USDA also said today that China bought 110,000 tons of U.S. soybeans for 2010-2011. May soybeans closed up 10.5 cents at $9.58.
A smaller palm oil crop in Malaysia is boosting prices for soybean oil (see article). May soybean oil closed up .72 at 41.02, the highest close in eight weeks.
July wheat fell 7.75 cents to $4.945, the lowest close in five months, after today's increase in the U.S. and world ending stocks estimates.
Livestock
The USDA raised its average 2010 price estimate for choice steers from 88 to 89.5 cents per pound. June cattle closed down .60 at 91.72.
The USDA raised its average 2010 price estimate for barrows and gilts from 47.5 to 48.5 cents per pound. June hogs were up .17 at 80.65.
Orange juice
The USDA raised its estimate of the 2009-2010 Florida orange crop from 129 to 131 million boxes, but lowered the projected juice yield from 1.56 to 1.53 gallons per box at 42.0 degrees Brix. May orange juice was down .0020 at $1.4695.
Sugar May sugar closed down .63 at 19.69, the lowest close in seven months, with more talk that upcoming sugar crops will ease the shortage. Brazil's sugarcane harvest is due to begin at the end of this month.
Energies
OPEC's monthly Oil Market Report shows an increase in the 2010 world oil demand estimate from 85.12 to 85.24 million barrels per day. Yesterday, the U.S. Energy Department predicted 85.5 million barrels per day. May crude oil finished up .57 at $82.43.
The U.S. Department of Energy (DOE) said that crude oil supplies were up 1.4 million barrels last week to 343.0 million barrels. Supplies of gasoline were down 2.9 million barrels and heating oil supplies were down 500,000 barrels.
The DOE also said that refinery use fell from 81.9% to 80.7% of capacity last week. Over the past four weeks, gasoline demand was up .5% from a year ago while distillate demand was down 4.1% from a year ago.
Metals
April gold fell $14.20 to $1,108.10, blamed on technical selling.
Currencies
The U.K.'s Office for National Statistics said that its index of production was down .4% in January and down 1.5% from a year ago.
Japan's Cabinet Office said that machinery orders were down 3.7% in January. The March Japanese yen dropped .0070 to 1.1047.
Is world trade improving? China's government said that exports were up 46% in February from a year ago while imports were up 45%.
The U.S. Census Bureau said that wholesale sales were up 1.3% in January and up 10.5% from a year ago. Inventories were down .2% in January and down 9.7% from a year ago.
The U.S. Treasury sold $21 billion of 10-year T-notes at a median yield of 3.70% with a bid-to-cover ratio of 3.45. They also posted a budget deficit of $220.9 billion in February, roughly as expected. The June U.S. T-bonds ended down 4/32nds at 116.10/32nds.
Economists surveyed in the Blue Chip Economic Indicators newsletter said that real GDP will be up 3.1% in 2010 and up 3.0% in 2011.
The Mortgage Bankers' Association said that its index of mortgage applications was up .5% last week. The rate on a 30-year fixed rate mortgage averaged 5.01%.
Grains and Cotton
The USDA's 2009-2010 U.S. ending stocks estimate of:Corn was increased from 1.719 to 1.799 billion bushels.Soybeans was reduced from 210 to 190 million bushels.Wheat was increased from .981 to 1.001 billion bushels.Sugar was increased from 1.055 to 1.075 million tons.Cotton was reduced from 3.3 to 3.2 million bales.
The USDA's 2009-2010 world ending stocks estimate of:Corn was increased from 134 to 140 million tons.Soybeans was increased from 60 to 61 million tons.Wheat was increased from 196 to 197 million tons.Cotton was reduced from 52 to 51 million bales.
The USDA also said today that China bought 110,000 tons of U.S. soybeans for 2010-2011. May soybeans closed up 10.5 cents at $9.58.
A smaller palm oil crop in Malaysia is boosting prices for soybean oil (see article). May soybean oil closed up .72 at 41.02, the highest close in eight weeks.
July wheat fell 7.75 cents to $4.945, the lowest close in five months, after today's increase in the U.S. and world ending stocks estimates.
Livestock
The USDA raised its average 2010 price estimate for choice steers from 88 to 89.5 cents per pound. June cattle closed down .60 at 91.72.
The USDA raised its average 2010 price estimate for barrows and gilts from 47.5 to 48.5 cents per pound. June hogs were up .17 at 80.65.
Orange juice
The USDA raised its estimate of the 2009-2010 Florida orange crop from 129 to 131 million boxes, but lowered the projected juice yield from 1.56 to 1.53 gallons per box at 42.0 degrees Brix. May orange juice was down .0020 at $1.4695.
Sugar May sugar closed down .63 at 19.69, the lowest close in seven months, with more talk that upcoming sugar crops will ease the shortage. Brazil's sugarcane harvest is due to begin at the end of this month.
Energies
OPEC's monthly Oil Market Report shows an increase in the 2010 world oil demand estimate from 85.12 to 85.24 million barrels per day. Yesterday, the U.S. Energy Department predicted 85.5 million barrels per day. May crude oil finished up .57 at $82.43.
The U.S. Department of Energy (DOE) said that crude oil supplies were up 1.4 million barrels last week to 343.0 million barrels. Supplies of gasoline were down 2.9 million barrels and heating oil supplies were down 500,000 barrels.
The DOE also said that refinery use fell from 81.9% to 80.7% of capacity last week. Over the past four weeks, gasoline demand was up .5% from a year ago while distillate demand was down 4.1% from a year ago.
Metals
April gold fell $14.20 to $1,108.10, blamed on technical selling.
Currencies
The U.K.'s Office for National Statistics said that its index of production was down .4% in January and down 1.5% from a year ago.
Japan's Cabinet Office said that machinery orders were down 3.7% in January. The March Japanese yen dropped .0070 to 1.1047.
Is world trade improving? China's government said that exports were up 46% in February from a year ago while imports were up 45%.
Thứ Ba, 13 tháng 10, 2009
HOT Futures Trading New Today
U.S. Economy The U.S. Treasury sold $30 billion of 3-month T-bills at a median rate of .05% and $30 billion of 6-month T-bills at a median rate of .14%. The December 2010 eurodollars closed up .10 at 98.375.
Grains and Cotton
More rain is falling today in Texas and around the Mississippi River Delta and the Palmer Drought map already shows excessively moist conditions in Arkansas and Mississippi. December cotton closed up 1.20 cents at 65.88, the highest close in a year.
The USDA said that last week's export inspections of:Corn totaled 20.5 million bushels, down 35% from a year ago.Soybeans totaled 14.7 million bushels, down 17% from a year ago.Wheat totaled 17.8 million bushels, down 27% from a year ago.
The northern states of the Midwest were all below freezing this morning. The USDA's Crop Progress report will be released later this afternoon. December corn was lower for most of the day, but ended up a half-cent at $3.817.
After the close, the USDA said that:13% of the corn crop was harvested, down from the five-year average of 35%.23% of the soybean crop was harvested, down from the five-year average of 57%.12% of the cotton crop was harvested, down from the five-year average of 29%.64% of the winter wheat crop was planted, roughly on schedule.
Livestock
December cattle fell .62 to 84.67 after last night's Larry King show on meat safety in the U.S.
After yesterday's close, the U.S. Meat Export Federation said that beef exports were down 26% in August from a year ago and down 4% in the first eight months of 2009 from a year ago. Pork exports were down 17% in August and down 17% in the first eight months of 2009 from a year ago. December hogs ended down .15 at 53.67.
Cocoa
The European Cocoa Association is expected to release a corrected third-quarter grindings report on Wednesday and North American grindings are expected to come out late Thursday. December cocoa ended up $28 at $3,096.
Sugar March sugar closed up 1.16 cents to 22.79, bouncing back from last week's sell-off while world supplies remain tight.
Energies OPEC's Oil Market Report for October increased their estimates of world oil demand from 84.05 to 84.24 million barrels per day (mbd) in 2009 and from 84.56 to 84.93 mbd in 2010. They also kept the 2009 estimate of world GDP growth at -1.2%, but increased the 2010 estimate from +2.5% to +2.7%. December crude oil closed up .97 at 74.71, the highest close in seven weeks.
Metals
According to Bloomberg news, the CEO of Rio Tinto expects world production of copper to match consumption in 2010 and fall a little short in 2011. December copper closed down 6.25 cents at $2.7945.
Currencies
The U.K.'s Office for National Statistics said that consumer prices were up 1.1% in September from a year ago, down from a 1.6% annual gain in August and the lowest increase in five years. The December British pound finished up a penny at $1.5888.
Source: dailyfutures.com
Grains and Cotton
More rain is falling today in Texas and around the Mississippi River Delta and the Palmer Drought map already shows excessively moist conditions in Arkansas and Mississippi. December cotton closed up 1.20 cents at 65.88, the highest close in a year.
The USDA said that last week's export inspections of:Corn totaled 20.5 million bushels, down 35% from a year ago.Soybeans totaled 14.7 million bushels, down 17% from a year ago.Wheat totaled 17.8 million bushels, down 27% from a year ago.
The northern states of the Midwest were all below freezing this morning. The USDA's Crop Progress report will be released later this afternoon. December corn was lower for most of the day, but ended up a half-cent at $3.817.
After the close, the USDA said that:13% of the corn crop was harvested, down from the five-year average of 35%.23% of the soybean crop was harvested, down from the five-year average of 57%.12% of the cotton crop was harvested, down from the five-year average of 29%.64% of the winter wheat crop was planted, roughly on schedule.
Livestock
December cattle fell .62 to 84.67 after last night's Larry King show on meat safety in the U.S.
After yesterday's close, the U.S. Meat Export Federation said that beef exports were down 26% in August from a year ago and down 4% in the first eight months of 2009 from a year ago. Pork exports were down 17% in August and down 17% in the first eight months of 2009 from a year ago. December hogs ended down .15 at 53.67.
Cocoa
The European Cocoa Association is expected to release a corrected third-quarter grindings report on Wednesday and North American grindings are expected to come out late Thursday. December cocoa ended up $28 at $3,096.
Sugar March sugar closed up 1.16 cents to 22.79, bouncing back from last week's sell-off while world supplies remain tight.
Energies OPEC's Oil Market Report for October increased their estimates of world oil demand from 84.05 to 84.24 million barrels per day (mbd) in 2009 and from 84.56 to 84.93 mbd in 2010. They also kept the 2009 estimate of world GDP growth at -1.2%, but increased the 2010 estimate from +2.5% to +2.7%. December crude oil closed up .97 at 74.71, the highest close in seven weeks.
Metals
According to Bloomberg news, the CEO of Rio Tinto expects world production of copper to match consumption in 2010 and fall a little short in 2011. December copper closed down 6.25 cents at $2.7945.
Currencies
The U.K.'s Office for National Statistics said that consumer prices were up 1.1% in September from a year ago, down from a 1.6% annual gain in August and the lowest increase in five years. The December British pound finished up a penny at $1.5888.
Source: dailyfutures.com
Thứ Hai, 5 tháng 10, 2009
Grain and Cotton Crop is Coming
U.S. Economy The Institute of Supply Management's index of services increased from 48.4 to 50.9 in September, stronger than expected and the first sign of expansion in over a year. The December 2010 eurodollars were up .005 at 98.375.
Grains and Cotton
Here comes a taste of winter - Yesterday's 6 to 10 day forecast from the National Weather Service is expecting below average temperatures and normal precipitation in the northern states of the Midwest. December corn closed up 8 cents at $3.415.
The USDA said that last week's export inspections of:Corn totaled 38.4 million bushels, up 4% from a year ago.Soybeans totaled 12.5 million bushels, down 13% from a year ago.Wheat totaled 18.0 million bushels, down 44% from a year ago.
After the close, the USDA said that:70% of the corn crop was rated good to excellent and 10% of it was harvested.67% of the soybean crop was rated good to excellent and 15% of it was harvested.47% of the cotton crop was rated good to excellent and 10% of it was harvested.53% of the winter wheat crop was planted, on schedule.
The USDA said that last week's export inspections of:Corn totaled 38.4 million bushels, up 4% from a year ago.Soybeans totaled 12.5 million bushels, down 13% from a year ago.Wheat totaled 18.0 million bushels, down 44% from a year ago.
After the close, the USDA said that:70% of the corn crop was rated good to excellent and 10% of it was harvested.67% of the soybean crop was rated good to excellent and 15% of it was harvested.47% of the cotton crop was rated good to excellent and 10% of it was harvested.53% of the winter wheat crop was planted, on schedule.
Cocoa
December cocoa surged $239 to a new contract high of $3,240, blamed on fund buying and ongoing concerns about the upcoming 2009-2010 crop.
Orange juice After the close, the USDA's Florida Weather Crop Report said that citrus trees were "generally in good condition in well-cared-for groves." They also said that fourteen packinghouses were already opened and shipping fruit. January orange juice closed up 1.15 cents at 97.35.
Metals December gold continues to take advantage of the weak dollar and closed up $13.50 at $1,017.80, the highest close in two weeks.
Orange juice After the close, the USDA's Florida Weather Crop Report said that citrus trees were "generally in good condition in well-cared-for groves." They also said that fourteen packinghouses were already opened and shipping fruit. January orange juice closed up 1.15 cents at 97.35.
Metals December gold continues to take advantage of the weak dollar and closed up $13.50 at $1,017.80, the highest close in two weeks.
Japan's Finance Minister Fujii said that his country still needs fiscal and monetary support and that his government was willing to take action against the yen, if the price moves got too extreme. The December yen ended up .0014 at 1.1177.
Eurostat said that its index of retail sales in the EU-27 was down .3% in August and down 1.8% from a year ago. Also, a composite index of manufacturing and services increased from 50.4 to 51.1 in September, better than expected. The December euro closed up .0073 at $1.4660.
An index of services in the U.K. increased from 54.1 to 55.3 in September, the best in two years.
Eurostat said that its index of retail sales in the EU-27 was down .3% in August and down 1.8% from a year ago. Also, a composite index of manufacturing and services increased from 50.4 to 51.1 in September, better than expected. The December euro closed up .0073 at $1.4660.
An index of services in the U.K. increased from 54.1 to 55.3 in September, the best in two years.
Chủ Nhật, 4 tháng 10, 2009
MARKET PRICE MOVING ON NEW WEEK
Grains and Cotton
Here comes the harvest - November soybeans fell 33 cents to $8.85, the lowest close in six months.
Statistics Canada said that the 2009 wheat crop is estimated at 24.58 million tons, up from its estimate of 23.61 million tons in July. December wheat finished down 11.5 cents at a new contract low of $4.412.
December corn closed down 7 cents at $3.335 with the ten-day forecast for most of the Midwest expecting cooler, but not freezing temperatures along with a few chances for rain.
Livestock
Today's weak jobs report is not good news for the future of beef demand. October cattle closed down 1.15 at 82.95.
After the close, the USDA estimated this week's beef production at 504.4 million pounds, up .8% from a year ago. Pork production was estimated at 469.4 million pounds, up .8% from a year ago. October hogs were down .17 at 49.25.
Cocoa Are concerns about the upcoming West African cocoa crop overdone? December cocoa fell $91 to $3,001, the lowest close in three weeks.
Coffee
According to Dow Jones Newswires, recent rains in Brazil have been beneficial for the flowering stage of next year's coffee crop. December coffee closed up 3 cents at $1.2970.
Metals December gold started the day lower, but closed up $3.60 at $1,004.30 after today's weak jobs report makes it more likely that the federal funds rate will remain low for a long time.
Currencies
Japan's Statistics Bureau said that the unemployment rate improved from 5.7% to 5.5% in August, much better than expected. The December Japanese yen closed up .0017 at 1.1163.
The Nationwide Building Society said that house prices in the U.K. were up .9% in September, the fifth consecutive gain.
Eurostat said that producer prices in the EU-27 were up .2% in August, but down 7.1% from a year ago.
Souce: dailyfutures
Here comes the harvest - November soybeans fell 33 cents to $8.85, the lowest close in six months.
Statistics Canada said that the 2009 wheat crop is estimated at 24.58 million tons, up from its estimate of 23.61 million tons in July. December wheat finished down 11.5 cents at a new contract low of $4.412.
December corn closed down 7 cents at $3.335 with the ten-day forecast for most of the Midwest expecting cooler, but not freezing temperatures along with a few chances for rain.
Livestock
Today's weak jobs report is not good news for the future of beef demand. October cattle closed down 1.15 at 82.95.
After the close, the USDA estimated this week's beef production at 504.4 million pounds, up .8% from a year ago. Pork production was estimated at 469.4 million pounds, up .8% from a year ago. October hogs were down .17 at 49.25.
Cocoa Are concerns about the upcoming West African cocoa crop overdone? December cocoa fell $91 to $3,001, the lowest close in three weeks.
Coffee
According to Dow Jones Newswires, recent rains in Brazil have been beneficial for the flowering stage of next year's coffee crop. December coffee closed up 3 cents at $1.2970.
Metals December gold started the day lower, but closed up $3.60 at $1,004.30 after today's weak jobs report makes it more likely that the federal funds rate will remain low for a long time.
Currencies
Japan's Statistics Bureau said that the unemployment rate improved from 5.7% to 5.5% in August, much better than expected. The December Japanese yen closed up .0017 at 1.1163.
The Nationwide Building Society said that house prices in the U.K. were up .9% in September, the fifth consecutive gain.
Eurostat said that producer prices in the EU-27 were up .2% in August, but down 7.1% from a year ago.
Souce: dailyfutures
Đăng ký:
Bài đăng (Atom)
