Month: September 2018

Commodity Closing – Europe/Oil-Gas Majors 28.09.18

Crude oil rose more than $1 a barrel on Friday, with Brent Crude gaining to a four-year high, as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters sought to increase production.

NYMEX Crude Oil	73.36 USD	+1.24	+1.69%
ICE Brent Crude	82.75 USD	+1.03	+1.24%
NYMEX RBOB Gasoline	2.10 USD	+0.02	+0.74%
Dubai Crude Spot	81.25 USD	+1.51	+1.86%
ICE Gas Oil	723.75 USD	+11.00	+1.52%
NYMEX No2 Heating Oil	2.35 USD	+0.03	+1.14%
NYMEX Nat Gas	3.01 USD	-0.05	-1.66%
ICE NBP Nat Gas	75.80 GBP	-0.58	-0.77%

Today’s Economic Events

07:45 FR AUG Households Consumption (MoM) exp: 0.3% prev: 0.1%
07:45 FR AUG Producer Price Index (MoM) exp: NA prev: 0.6%
07:45 FR SEP P Consumer Price Index (MoM) exp: -0.1% prev: 0.5%
07:45 FR SEP P CPI – EU Harmonised (MoM) exp: -0.1% prev: 0.5%
08:55 GE SEP Unemployment Change (k) exp: -8.5 prev: -8
08:55 GE SEP Unemployment Rate exp: 5.2% prev: 5.2%
09:30 UK 2Q Current Account (B GBP) exp: -19.3 prev: -17.7
09:30 UK 2Q F GDP (QoQ) exp: 0.4% prev: 0.4%
13:30 US AUG Personal Income exp: 0.4% prev: 0.3%
13:30 US AUG Personal Spending exp: 0.3% prev: 0.4%
14:45 US SEP Chicago Purchasing Manager Index exp: 62.4 prev: 63.6
15:00 US SEP F U. of Michigan Confidence exp: 100.5 prev: 100.8 read more

General Market Comment

US indices closed mixed on Thursday. Shares in the Materials (-0.97%), Banks (-0.6%) and Commercial & Professional Services (-0.49%) sectors ended on a negative note while shares in the Technology Hardware & Equipment (+1.25%), Utilities (+0.96%) and Media (+0.87%) sectors improved higher. On the economic data front, initial jobless claims increased to 214k in week ended September 22nd (estimated 210k) from 202k in the previous week. Continuing claims reached 1.661M in week ended September 15th (forecasted 1.678M) compared to 1.645M a week earlier. In other news, wholesale inventories advanced by 0.8% MoM in a preliminary estimate in August (forecasted 0.3%) vs. 0.6% in July. Durable goods orders jumped by 4.5% in a preliminary estimate in August (expected 2%) from a decline of 1.2% in the prior month. In addition, pending home sales decreased by 1.8% MoM in August (estimated -0.5%) vs. -0.8% in July. The Bloomberg consumer comfort index improved to 61.2 in week ended September 23rd from 60.2 in the previous week. Finally, the annualized GDP remained unchanged QoQ in a third estimate at 4.2%, as expected. The S&P 500 (2,914.00) remains above its 20d moving average (2,900.86 – flat slope) and 50d moving average (2,865.99 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 27.09.18

Crude oil edged higher Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in five weeks.

NYMEX Crude Oil	72.17 USD	+0.60	+0.83%
ICE Brent Crude	81.61 USD	+0.27	+0.33%
NYMEX RBOB Gasoline	2.08 USD	+0.02	+1.11%
Dubai Crude Spot	79.71 USD	+0.02	+0.03%
ICE Gas Oil	714.00 USD	+3.25	+0.46%
NYMEX No2 Heating Oil	2.32 USD	+0.02	+0.83%
NYMEX Nat Gas	3.06 USD	+0.08	+2.49%
ICE NBP Nat Gas	72.31 GBP	-2.82	-3.90%

Today’s Economic Events

10:00 EC SEP Business Climate Indicator exp: 1.17 prev: 1.22
10:00 EC SEP Euro-Zone: Economic Confidence exp: 111.3 prev: 111.6
10:00 EC SEP Euro-zone: Industrial Confidence exp: 5.1 prev: 5.5
10:00 EC SEP F Euro-Zone: Consumer Confidence exp: -2.9 prev: -2.9
13:00 GE SEP P Consumer Price Index (MoM) exp: 0.1% prev: 0.1%
13:00 GE SEP P CPI – EU Harmonised (MoM) exp: 0.1% prev: 0%
13:30 US 2Q T GDP (QoQ) exp: 4.3% prev: 4.2%
13:30 US 2Q T GDP Price (QoQ) exp: 3% prev: 3%
13:30 US 2Q T Personal Consumption exp: 3.8% prev: 3.8%
13:30 US AUG P Durable Goods Ex Transportation exp: 0.5% prev: 0.1%
13:30 US AUG P Durable Goods Orders exp: 2% prev: -1.7%
13:30 US AUG P Wholesale Inventories exp: 0.4% prev: 0.6%
13:30 US W37 Initial Jobless Claims (k) exp: 212 prev: 201 read more

General Market Comment

US indices closed lower on Wednesday as the Federal Reserve raised its federal funds rate for the third time this year to the range of 2% – 2.25%, as expected. Shares in the Banks (-1.52%), Real Estate (-1.15%) and Diversified Financials (-1.11%) sectors were under pressure. On the economic data front, MBA mortgage applications advanced by 2.9% in week ended September 21st from an improvement of 1.6% a week earlier. New home sales rose to 629k units in August (estimated 630k) compared to 608k in July. Finally, the Federal Reserve decided to raise its federal funds rate for the third time this year to the range of 2-2.25%, as expected. The Fed shared their view that the economy is growing at a “strong” rate and may trigger “further gradual” rate increases. The S&P 500 (2,905.97) remains above its 20d moving average (2,900.86 – flat slope) and 50d moving average (2,864.02 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 26.09.18

Oil prices eased on Wednesday after U.S. data showed a surprise build in domestic crude inventories. However bullish sentiment was underpinned by an impending drop in Iranian exports which kept Brent futures above $80 a barrel and on track for a fifth straight quarterly gain.

NYMEX Crude Oil	71.71 USD	-0.57	-0.79%
ICE Brent Crude	81.46 USD	-0.41	-0.50%
NYMEX RBOB Gasoline	2.06 USD	-0.01	-0.30%
Dubai Crude Spot	79.12 USD	-0.03	-0.04%
ICE Gas Oil	710.75 USD	-3.00	-0.42%
NYMEX No2 Heating Oil	2.30 USD	-0.00	-0.06%
NYMEX Nat Gas	2.99 USD	-0.09	-2.90%
ICE NBP Nat Gas	74.41 GBP	-3.27	-4.39%

Today’s Economic Events

07:45 FR SEP Consumer Confidence exp: 97 prev: 97
15:00 US AUG New Home Sales (k) exp: 630 prev: 627
15:30 US W37 Crude Oil Inventories (WoW chg) exp: NA prev: -2057
19:00 US Fed: Rates decision exp: 2.25% prev: 2%

General Market Comment

US indices closed mixed on Tuesday for the third trading day straight. Shares in the Automobiles & Components (-2.72%), Semiconductors & Semiconductor Equipment (-1.24%) and Utilities (-1.22%) sectors traded lower while shares in the Retailing (+0.9%), Energy (+0.57%) and Consumer Services (+0.57%) sectors gained strength. On the economic data front, the FHFA house price index rose 0.2% MoM in July (estimated 0.3%) from 0.3% in June. In addition, the Richmond federal manufacturing index increased to 29 in September (forecasted 20) compared to 24 a month earlier. Finally, the Conference Board consumer confidence index advanced to 138.4 i September (expected 132.1) from 134.7 in August. The S&P 500 (2,915.56) remains above its 20d moving average (2,900.44 – positive slope) and 50d moving average (2,862.09 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 25.09.18

Crude oil prices cut back on early session gains as Trump repeated calls for OPEC members to produce more. Meanwhile, energy trader VITOL will stop doing business with Iran after the US re-imposition of sanctions from 4th November.

NYMEX Crude Oil	72.28 USD	+0.20	+0.28%
ICE Brent Crude	81.82 USD	+0.62	+0.76%
NYMEX RBOB Gasoline	2.07 USD	+0.01	+0.62%
Dubai Crude Spot	79.39 USD	+0.24	+0.30%
ICE Gas Oil	712.25 USD	+10.50	+1.47%
NYMEX No2 Heating Oil	2.31 USD	+0.02	+0.88%
NYMEX Nat Gas	3.08 USD	+0.04	+1.24%
ICE NBP Nat Gas	77.25 GBP	-0.46	-0.60%