Market news

18 October 2016
  • 22:30

    Commodities. Daily history for Oct 18’2016:

    (raw materials / closing price /% change)

    Oil 50.77 +0.95%

    Gold 1,263.30 +0.03%

  • 15:50

    No major change for oil prices today

    The dollar regained some of the previously lost ground after the release of new data on inflation, which showed moderate growth. These data seem to be taken into account at the Fed's decision on interest rates.

    Since the end of September, when it was announced the preliminary agreement of OPEC, oil prices are in the range of 48-53 dollars per barrel.

    "Prices are no longer rising," - said John Saucer, vice president of Mobius Risk Group in Houston. "They quickly rebounded, and now they are consolidating", - he added.

    Meanwhile, investors are increasingly skeptical that OPEC will be able to agree on a reduction of total oil production by 1-2%. Especially it is not clear which countries will reduce the production.

    The cost of the November futures for US light crude oil WTI (Light Sweet Crude Oil) fell to 49.76 dollars per barrel on the New York Mercantile Exchange.

    November futures price for North Sea petroleum mix of mark Brent fell to 51.25 dollars a barrel on the London Stock Exchange ICE Futures Europe.

  • 15:26

    Gold in the accumulation range

    Gold prices rose, as disappointing data on US inflation eased reasons for the tightening of monetary policy of the Fed, putting pressure on the US dollar.

    The US Commerce Department reported that the Consumer Price Index rose by 0.3% in September compared with the previous month, in line with expectations, after rising in the previous month by 0.2%. In annual terms, the consumer price index increased by 1.5% last month, in line with expectations, after rising 1.1% in August. The value was the highest since October 2014.

    The consumer price index (excluding food and energy) rose a seasonally adjusted 0.1% last month, lower than the forecasts of +0.2%. In the 12 months to September core consumer price index rose by 2.2%.

    USD index, which measures the value of the US currency against a basket of six major currencies, fell 0.2% to 97.66 on Tuesday morning after falling from a seven-month high the previous session.

    The cost of December futures for gold on COMEX rose to $ 1265.0 per ounce.

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