MTECHTIPS;-Crude oil down in Asia with supply, monthly reports ahead this week


MTECHTIPS;-Crude oil down in Asia with supply, monthly reports ahead this week


MTECHTIPS- Crude oil prices eased in Asia on Monday with a supply meeting in Abu Dhabi and monthly reports later in the week expected to set the tone. The U.S. West Texas Intermediate crude September contract fell 0.12% to $49.522 a barrel. Elsewhere, on the ICE Futures Exchange in London, Brent oil for October delivery dipped 0.10% to $52.37 a barrel.Later on Monday, a meeting kicks off oil ministers from some OPEC and non-OPEC countries set for Monday and Tuesday in Abu Dhabi to discuss compliance to agreed upon global production limits that run through March 2018. In the week ahead, market participants will focus on monthly reports from the Organization of Petroleum Exporting Counties and the International Energy Agency to assess global oil supply and demand levels. The data will give traders a better picture of whether a global re balancing  is taking place in the oil market.  Last week, oil prices settled higher on Friday, aided by signs of a possible slowdown in U.S. shale production, but they still ended the week with a small loss amid renewed concerns over OPEC’s compliance with the deal to curb production. Friday’s gains came after weekly figures from energy services company Baker Hughes showed that the number of active rigs drilling for oil fell by one to 765 last week. It was the second decline in the past three weeks, suggesting early signs of moderating domestic production growth.

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MTECHTIPS;-Crude oil down in Asia with supply, monthly reports ahead this week


MTECHTIPS;-Crude oil down in Asia with supply, monthly reports ahead this week


MTECHTIPS- Crude oil prices eased in Asia on Monday with a supply meeting in Abu Dhabi and monthly reports later in the week expected to set the tone. The U.S. West Texas Intermediate crude September contract fell 0.12% to $49.522 a barrel. Elsewhere, on the ICE Futures Exchange in London, Brent oil for October delivery dipped 0.10% to $52.37 a barrel.Later on Monday, a meeting kicks off oil ministers from some OPEC and non-OPEC countries set for Monday and Tuesday in Abu Dhabi to discuss compliance to agreed upon global production limits that run through March 2018. In the week ahead, market participants will focus on monthly reports from the Organization of Petroleum Exporting Counties and the International Energy Agency to assess global oil supply and demand levels. The data will give traders a better picture of whether a global re balancing  is taking place in the oil market.  Last week, oil prices settled higher on Friday, aided by signs of a possible slowdown in U.S. shale production, but they still ended the week with a small loss amid renewed concerns over OPEC’s compliance with the deal to curb production. Friday’s gains came after weekly figures from energy services company Baker Hughes showed that the number of active rigs drilling for oil fell by one to 765 last week. It was the second decline in the past three weeks, suggesting early signs of moderating domestic production growth.

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MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails


MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails

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Detailed and Research-Based Trading Tips Service at mtechtips

MTECHTIPS-Advisory is a financial advisory firm having a team of specialized financial market analysts having massive experience in carrying out capital market research. We deliver reliable tips and advices for stocks, future , Index and option (F&O) traded in the NSE commodities such as bullion, agri and metals traded in the MCX and NCDEX. We offer daily and weekly reports having stock and commodity market overview that assists the investors to identify with the trends of the market and assists in taking smart decisions.

 

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MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails


MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails

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Detailed and Research-Based Trading Tips Service at mtechtips

MTECHTIPS-Advisory is a financial advisory firm having a team of specialized financial market analysts having massive experience in carrying out capital market research. We deliver reliable tips and advices for stocks, future , Index and option (F&O) traded in the NSE commodities such as bullion, agri and metals traded in the MCX and NCDEX. We offer daily and weekly reports having stock and commodity market overview that assists the investors to identify with the trends of the market and assists in taking smart decisions.

 

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MTECHTIPS;-Gold dips in Asia as dollar gains weigh on sentiment


MTECHTIPS;-Gold dips in Asia as dollar gains weigh on sentiment

MTECHTIPS-Gold prices fell in early Asia on Monday with attention on the dollar after gains last week on renewed views the Fed may hike for a third time this year. Gold for August delivery fell 0.16% to $1,262.52 on the Comex division of the New York Mercantile Exchange. Ahead in the week, Friday’s U.S. inflation figures are seen as key as are comments by Fed speakers on interest rate and balance sheet unwinding views. Last week, gold prices fell on Friday as a solid U.S. employment report for July revived expectations for another interest rate increase by the Federal Reserve this year. In Asia, The AIG Construction index rose to 60.5 in July from 56.0 in June, a major boost. Japan reported its foreign reserves data for July with figures standing at $1.260 trillion from $1.260 trillion in June. The Labor Department reported Friday that the U.S. economy added 209,000 jobs last month, beating expectations for a gain of 183,000 and the unemployment rate ticked down to 4.3%. The report also showed that average hourly earnings increased by 9 cents or 0.3% last month to $26.36 an hour, the largest monthly increase since October.

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MTECHTIPS;-Gold dips in Asia as dollar gains weigh on sentiment


MTECHTIPS;-Gold dips in Asia as dollar gains weigh on sentiment

MTECHTIPS-Gold prices fell in early Asia on Monday with attention on the dollar after gains last week on renewed views the Fed may hike for a third time this year. Gold for August delivery fell 0.16% to $1,262.52 on the Comex division of the New York Mercantile Exchange. Ahead in the week, Friday’s U.S. inflation figures are seen as key as are comments by Fed speakers on interest rate and balance sheet unwinding views. Last week, gold prices fell on Friday as a solid U.S. employment report for July revived expectations for another interest rate increase by the Federal Reserve this year. In Asia, The AIG Construction index rose to 60.5 in July from 56.0 in June, a major boost. Japan reported its foreign reserves data for July with figures standing at $1.260 trillion from $1.260 trillion in June. The Labor Department reported Friday that the U.S. economy added 209,000 jobs last month, beating expectations for a gain of 183,000 and the unemployment rate ticked down to 4.3%. The report also showed that average hourly earnings increased by 9 cents or 0.3% last month to $26.36 an hour, the largest monthly increase since October.

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MTECHTIPS;-Gold / Silver / Copper futures – weekly outlook: August 7 – 11


MTECHTIPS;-Gold / Silver / Copper futures – weekly outlook: August 7 – 11

MTECHTIPS- Gold prices fell on Friday as a solid U.S. employment report for July revived expectations for another interest rate increase by the Federal Reserve this year. Gold for August delivery settled at $1,258.28 on the Comex division of the New York Mercantile Exchange. The precious metal ended the week down 0.8%, its first weekly percentage decline in four weeks. The Labor Department reported Friday that the U.S. economy added 209,000 jobs last month, beating expectations for a gain of 183,000 and the unemployment rate ticked down to 4.3%. The report also showed that average hourly earnings increased by 9 cents or 0.3% last month to $26.36 an hour, the largest monthly increase since October. Wages increased by 2.5% on a year-over-year basis, matching June’s increase. The uptick in wage growth indicated that inflationary pressures are firming. Markets believe stronger inflation will enable the Fed to stick to its plans for a third interest rate hike this year. Expectations of a faster pace of rate increases tend to weigh on gold, which is denominated in dollars and struggles to compete with yield-bearing assets when borrowing costs rise. Gold prices are up around 9% this year, lifted in part by expectations that the Fed will take a gradual path toward tightening monetary policy. Elsewhere in precious metals trading, silver was down 2.25% to $16.25 a troy ounce, and ended the week down 2.65%. Copper was trading at $2.889 a pound late Friday, up 0.38% for the day and ended the week up 0.52%. Palladium was down 0.64% at $875.4 and finished the week down 0.61%. Platinum was up 0.34% at $967.85 an ounce and ended the week with gains of 3.2%.

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