Oil Continues to Decline

23-01-2012

Energy is down this morning this morning in Asian markets as traders resume activities after the weekend. Crude oil is down 0.22%, trading at 98.11 USD per barrel. Many analysts predict that the price of oil is not expected to decline by any significant amount as political unrest in Nigeria, an impending trade embargo on Iran and the refusal of the Obama administration to approve the North American oil pipeline will cause energy prices to increase. Gold and silver are on the rise, with gold trading at 0.50% higher at 1672.35. Silver is trading at 32.328 this morning, up by 2.08%.

Crude heads south

Oil is on the decline for the fourth straight day, with speculators predicting that the embargo on Iran may be delayed. In addition, the economic regression in Europe should slow down the demand for oil considerably. Crude oil scheduled for delivery in March fell to 97.40 USD per barrel. Brent oil is down this morning by 0.05%, valued at 110.06. Natural gas is down as well, showing a decline of 2.65%, trading at 2.329.

Quiet Economic Calendar

The economic calendar for the next two days is looking rather quiet, with major reports coming only from Japan tomorrow, spearheaded by the Bank of Japan Press Conference. The PPI quarterly was released today in Australia at plus 0.3%, falling short of the forecasted 0.4%. The AUD/USD is up this morning by 0.29%, trading at 1.0489. Earlier in Asian trading, the Aussie was down, trading at 1.0469. Tomorrow, the Monetary Policy Statement, Overnight Call Rate and BOJ Press Conference are scheduled to take place in Japan at an undisclosed time. These reports will have a profound impact on the USD/JPY. The currency pair is down this morning by 0.011%, trading at 77.02.

Bank capital rules to change?

France and Germany, the two largest economies in the Euro Zone, are looking to ease bank lending regulations in order to encourage private banks to increase loans. It is unclear which countries will support the change in lending rules. The EUR/USD is down this morning by 0.225%, trading at 1.2898. The EUR/JPY is down as well, trading at 99.34, a decline of 0.268%.

Slow day for stocks

Asian trading has been subdued so far today, with markets in several countries, including China, Honk Kong and South Korea closed for holidays. The Nikkei was up in trading earlier today by 0.16%. The Japanese index is down at the time of this writing by 0.07%, and sitting at 8760.00. In Europe, the DAX, CAC and FTSE 100 all declined in early trading with the DAX showing the biggest decline, dropping by as much as 0.40%.

Trends Reverse…Slightly 17-05-2012

The Euro is up slightly against the greenback during early European trading on Thursday, but remains far below levels from two weeks ago. The EUR/USD is up 0.18% and trading at 1.2739 this morning, rebounding from a 0.10% decline during yesterday’s trading in the United States that saw the pair close the session at 1.2717. The Dollar is [...]

The Collapse of Oil Prices Continues 16-05-2012

Early trading on Wednesday saw a continuing trend of investor concern towards the Greek political crisis and a rush to the greenback. With the chance of Greece leaving the Eurozone more likely with each passing day, the Euro continues to struggle against the Dollar. The EUR/USD is down 0.11% in early European trading this morning, at [...]

European Uncertainty 15-05-2012

The U.S. Dollar was up against most major currencies on Monday, as investor uncertainty regarding the Greek political crisis continued to push investors towards the safe haven of the greenback. The Euro is up slightly at the beginning of the European trading session on Tuesday by 0.05%, sitting at 1.2828. The Euro has declines sharply [...]

Euro Falls Once Again 14-05-2012

Political uncertainty in Greece and mass protests in Spain has pushed the EUR/USD down 0.15% to 1.2897 during late Asian trading on Monday. In fact, the greenback was either steady or up against most major currencies as traders searched for a temporary safe haven in order to dodge uncertainty in the markets. The increased value of the [...]

Time Is Ticking For Greece 11-05-2012

The Euro is back on the decline during Asian trading on Friday, with the EUR/USD down 0.14% and trading at 1.2920. The pair continues to hover at around 1.3000 after the single currency took a major hit due to fears surrounding political instability in Greece and future fiscal policy in France. The pound is also down against the greenback [...]

Euro Declines Stop 10-05-2012

The Euro has rebounded slightly against the USD during Asian trading on Thursday after posting huge losses over the last several days. The EUR/USD is up 0.15% and trading at 1.2946. The majority of major currencies are also up against the greenback this morning, including the Pound, Swiss Franc and Australian Dollar. The Aussie posted [...]

Euro Decline Continues 09-05-2012

The beginning of trading on Wednesday continued the negative trend of the Euro and oil. The Euro continues to decline sharply, down 0.24% and trading at 1.2975. The EUR/USD broke through the 1.3000 barrier earlier this week after European elections in France and Greece cast a shadow over the future of the single currency. The Euro is also [...]

Declines Continue for Oil and Euro 08-05-2012

The Euro is down once again during late Asian trading on Monday, after suffering huge losses yesterday. The EUR/USD is down 0.15% and trading at 1.3032. The single currency did manage to recover somewhat during late trading yesterday, rebounding from a decline of 0.81% at the end of the Asian trading session. Investors continue to show [...]

Future of the Euro in Doubt? 07-05-2012

Two key election results in the European Union are threatening to undo the single currency. Francois Hollande is the new president of France, after defeating Nicolas Sarkozy by a small margin in the second round of elections. Hollande is the first socialist president in France in the last seventeen years. Many voters in France expressed [...]

Oil Prices Plummet 04-05-2012

Oil prices plummeted during the U.S. trading session on Thursday after European Central Bank President Mario Draghi expressed concern over future growth of the EU economy. The price of crude was down 2.48% and trading at 102.61 USD per barrel. Oil was also hit hard because Draghi claimed that ECB was not planning to increase liquidity in [...]

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