COMMODITY UPDATED BY INTRADAY TRADING SYSTEMS OF TECHNOTRADES
News Highlights:
Commodity markets strengthened on Friday as the U.S. non-farm payrolls and U.S. ISM manufacturing data beat the market expectation, even after the jobless rate unexpectedly rose to a five month high of 8.3 per cent.
Copper futures posted its biggest weekly drop in nine weeks as Investors sold the base metals last week when the Fed and ECB ended a policy meeting without announcing stimulus measures to boost the economic growth.
Cotton futures are expected to maintain its bullish trend for the next weeks as some short-covering has been seen ahead of the U.S. Agriculture Department’s monthly supply/demand report on August 10, 2012.
The concern over oil supply disruption in the Gulf of Mexico supported the oil prices on Friday. The U.S. National Hurricane Center forecasted that tropical storm “Ernesto” may grow into a hurricane this weakened.
The U.S. Labor Department reported last week that U.S. non-farm payrolls climbed by 163,000 in July 2012, while the jobless rate unexpectedly rose to a five month high of 8.3 per cent. The Institute for Supply Management (ISM) also reported that non-manufacturing index unexpectedly gained to 52.6 in July from 52.1 in June 2012.
The U.S. dollar tumbled the most in a month on Friday, down by 1.18 per cent, after U.S. reported better than expected U.S. payrolls data which reduced the demand for safe haven assets including the U.S. dol
News Highlights:
Commodity markets strengthened on Friday as the U.S. non-farm payrolls and U.S. ISM manufacturing data beat the market expectation, even after the jobless rate unexpectedly rose to a five month high of 8.3 per cent.
Copper futures posted its biggest weekly drop in nine weeks as Investors sold the base metals last week when the Fed and ECB ended a policy meeting without announcing stimulus measures to boost the economic growth.
Cotton futures are expected to maintain its bullish trend for the next weeks as some short-covering has been seen ahead of the U.S. Agriculture Department’s monthly supply/demand report on August 10, 2012.
The concern over oil supply disruption in the Gulf of Mexico supported the oil prices on Friday. The U.S. National Hurricane Center forecasted that tropical storm “Ernesto” may grow into a hurricane this weakened.
The U.S. Labor Department reported last week that U.S. non-farm payrolls climbed by 163,000 in July 2012, while the jobless rate unexpectedly rose to a five month high of 8.3 per cent. The Institute for Supply Management (ISM) also reported that non-manufacturing index unexpectedly gained to 52.6 in July from 52.1 in June 2012.
The U.S. dollar tumbled the most in a month on Friday, down by 1.18 per cent, after U.S. reported better than expected U.S. payrolls data which reduced the demand for safe haven assets including the U.S. dol
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