Indications of fortitude within Japan's economy trumped perils presented by the sovereign debt crisis tearing through the euro zone and prompted the Pacific Rim nation's central bank to decline widening monetary stimulus, Bloomberg reports. While asset purchasing was increased to the yen equivalent of $564 billion by the Bank of Japan, the facility for disbursing… Read more.
Thursday saw the Canadian dollar drop toward its lowest value in nearly two weeks against the world's reserve currency, according to Reuters. The market's riskier assets and currencies were impacted by concerns about the global economy. The central banks of South Korea and Brazil cut interest rates while the Bank of Japan held off for… Read more.
Restricted supplies helped drive up the price of crude oil futures on Tuesday, according to published reports. The energy commodity pushed higher than $91 per barrel as a strike among Norwegian oil workers posed a serious threat of cutting down on supplies from the North Sea, Reuters reports. The warring sides are unlikely to resolve… Read more.
The price of crude oil dropped in value on Monday amid concerns about European leaders being unable to control the sovereign debt crisis, according to Bloomberg. A warning issued by billionaire investor George Soros also deepened preoccupations about the debt scourge tearing through the euro zone. Soros said that if regional leaders are unable to… Read more.
Recently, I had a number of clients involved in a futures spread in the live cattle market. The idea behind the trade was to get long the cattle market heading into the summer by buying in the front month and selling in the back month – specifically, they were buying June Live Cattle and simultaneously… Read more.
Crude oil futures gained in value on Monday for the first trading session in seven, propelled by the commitment of China to develop its economy, according to Bloomberg. Also driving the price of the energy commodity higher on Monday was investment house Goldman Sachs Group noting that supply and demand of crude oil is tightening.… Read more.
The leaders of the world's two top economic systems met on Monday and one nation's monetary unit gained against its the other nation's currency, Bloomberg reports. The Chinese renminbi gained against the U.S. dollar, ending two consecutive days of losses, after Chinese Premier Hu Jintao and U.S. President Barack Obama met in Seoul, South Korea… Read more.
Wednesday is likely to see gold futures resume the upward tick from Tuesday, when the precious metal recovered losses from the final week of last year, according to Reuters. Drivers for the yellowish metal's gains include uplifting economic data released by the U.S. and Europe as well as the threats to stability posed by Iran… Read more.
News about the death of the leader of a communist nation in the Pacific region pulled down the monetary units of Australia and New Zealand, according to Bloomberg. But the Kiwi's losses also are attributable to worries about euro zone leaders' troubles controlling the sovereign debt crisis. The Aussie's losses to 15 of its 16… Read more.
Friday saw cattle futures set record highs for the second time thus far this month, propelled by indications of increasing demand that will draw from limited supplies, according to Bloomberg. Ranchers were expected to draw down herd size, another factor that will pinch supplies. The U.S. Agriculture Department said on Wednesday that the production of… Read more.