MCX MARKET NEWS UPDATES




Gold Prices Climb As Dollar Slid After U.S.-China Talks -

 Gold prices gained on Monday as the dollar slid against the other major currencies in Asia, but remained at its 4-month highs of above the 92 level. The U.S. and China issued a long list of demands for each other in Beijing on Friday, as the two nations attempted to resolve the trade dispute between them. China requested the 25% extra tariffs lifted, while the U.S. expressed concerns over intellectual properties, according to reports. Meanwhile, the U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 92.30, down 0.13%. The greenback reached this year’s new high at 92.70 last Friday, then dropped to the 92.30 level on Monday morning. Despite the recent momentum, the dollar has lost 6.3% in a year.

 Buyers Trying to Form Potentially Bullish Secondary Higher Bottom - 

 Based on last week’s close at $3.0855 and last week’s price action, the direction of the copper market this week is likely to be determined by trader reaction to the short-term 50% level at $3.0885. Copper prices had a volatile week with traders reacting to the movement in the U.S. Dollar and the meeting between U.S. and China trade representatives. Additionally, huge price swings in other industrial metals such as aluminum, zinc and nickel also contributed to the market’s two-sided trade.

Average Temps Needed to Fill Storage Gap -

 The big concern at this time is how much of the storage gap can be filled before the start of the summer cooling season. Let’s face it, the weather in key demand areas has been erratic this year and there is really nothing to stop this trend from continuing. This could mean an extended spring or an early summer. Natural gas futures tumbled last week after the government reported a larger-than-expected injection into storage and an easing of weather concerns. Despite the weakness, the market still remained near the low end of the yearly range. This suggests buyers are still concerned that the summer heating season may begin with a large storage deficit.

Oil prices reach highest since November 2014 on Venezuela, Iran worries - 

U.S. oil prices rose above $70 a barrel on Monday for the first time since November 2014 while Brent crude prices climbed to fresh highs, as a deepening economic crisis in Venezuela threatened the country's already tumbling oil supplies. The concerns added to worries over a looming decision on whether the United States will walk away from a deal with Iran and instead re-imposes sanctions on Tehran, keeping international oil markets on edge. Analysts warned that the deepening economic crisis in major oil exporter Venezuela threatened to further crimp its production and exports. Shannon Rivkin, investment director of Australia's Rivkin Securities, said that oil prices had been driven up due to "growing concerns over the economic collapse of Venezuela and its oil industry, plus possible new sanctions against Iran from the Trump administration."

For more update you can contact us :

CapitalStars Financial Research          Forex trading tips        stock market tips           Share Tips Expert 

Get free trial Click here: http://www.capitalstars.com/free-trial

www.capitalstars.com |T:+91-9977499927 , 07316690000


Comments

Popular posts from this blog

Will Nifty hold 8800 next week? PSU Q1 nos, new RBI chief key

INDIAN EQUITY MARKET WRAP UP- 7 Sep 2016

INDIAN EQUITY MARKET OUTLOOK- 2 Mar 2016