Stocks slide as rising dollar hits oil prices Oct 30, 2009
The sharp swings in currency and commodity markets sent the Dow Jones industrial average whipsawing in a 200-point range, surrendering an early advance for a loss of 104 points. Stocks have fallen in four of the last five days. (Courier-Journal -- Business)
Oil Steadies Above $77, Eyes U.S. GDP Data Oct 29, 2009
"U.S. economic data again included some positives and negatives but, in the context of commodity markets that have been looking at the prospects for international economic recovery, it was the negatives that were the surprise and grabbed the attention of investors," said David Moore, a commodities analyst at the Commonwealth Bank of Australia. In a sign of investors' skittishness toward stocks and other riskier assets like commodities, the VIX indicator , Wall Street's favorite barometer for... (ABC News -- Business)
Teck Reports Third Quarter Results for 2009 Oct 29, 2009
While general economic conditions continue to improve and stability appears to be returning to financial and commodity markets, significant uncertainty concerning the short and medium term global economic outlook persists ... While general economic conditions continue to improve and stability appears to be returning to financial and commodity markets, significant uncertainty concerning the short and medium term global economic outlook persists. (CCNMatthews Press Releases)
Crude recovers in spite of demand fears Oct 28, 2009
prices rose on Tuesday while base metals prices were mixed and gold consolidated as commodity markets steadied after a broad retreat in the previous session. EDITORS CHOICE. (FT.com -- Markets)
Open interest: Key in gauging traders' sentiments Oct 26, 2009
In the last two years of both the financial and commodity markets volatility, it has become evident that besides the underlying fundamentals, traders sentiments play a key role in the price moves of any financial asset. Among the various market indicators, which gauge the traders sentiment, open interest is probably the most widely used and basic tool. (India Times)
NFU President Looks to Future With Obama at Helm (2) Oct 25, 2009
He sees dark clouds on the horizon for American agriculture, what with worldwide recession, high input costs, commodity markets plummeting recently and tighter credit down the road. There s a lot of anxiety out there, Buis stated. (Agri-View, WI)
Xstrata Q3 output mixed Oct 24, 2009
Xstrata made no comment about the outlook for commodity markets, but in August when the firm released interim results it warned that hopes of a quick recovery could be premature. Last week, Xstrata gave up its pursuit of rival Anglo American Plc, dropping a "merger of equals" proposal after refusing demands from Anglo shareholders that it pay a premium. (Business Report, South Africa)
Watchdog warns over traders limits Oct 24, 2009
The comments by Michael Dunn, a commissioner at the Commodity Futures Trading Commission (CFTC), are a sign that to tackle excessive speculation in derivatives and commodity markets by capping holdings are running into trouble. EDITORS CHOICE. (FT.com -- Markets)
Crude and bullion begin to ebb Oct 23, 2009
Gold prices also softened as commodity markets paused for breath after recent strong gains. By late trade Nymex December West Texas Intermediate pared gains and was just 18 cents lower at $81. (FT.com -- Markets)
Italian agriculture chief blasts food speculation Oct 23, 2009
A report in late 2008 by a Minnesota-based think tank, for example, blamed excessive speculation by traders and processors in the agriculture commodity markets for causing fluctuation in global food prices. Remy de la Mauviniere. (Fresno Bee -- Nation)
Oil prices rally to fresh peak for the year Oct 22, 2009
Crude prices rebounded from early weakness and hit a fresh 2009 high on Wednesday as commodity markets rallied after the. Nymex December West Texas Intermediate rose $2. (FT.com -- Markets)
Crude dragged back after reaching $80 Oct 21, 2009
US crude oil prices briefly passed $80 a barrel but a recovery in the dollar weighed on commodity markets on Tuesday. Nymex November West Texas Intermediate, expiring on Tuesday, reached a 2009 high of $80. (FT.com -- Markets)
Coffee hits 2009 high Oct 20, 2009
Coffee prices hit a 2009 high on Monday amid concerns about the deteriorating outlook for Colombian production as commodity markets made a strong start to the new trading week with gains for crude oil, grains, sugar and base metals. Liffe December arabica rose 1. (FT.com -- Markets)
Why does gas cost so much? Oct 20, 2009
mike wrote on Oct 17, 2009 1:48 PM:" don't like the prices then don't buy it.Ride a bike take the bus call a cab ride share.There are plenty of other options out there.If they are hauling from Coburg then Bend is closer than us which the price reflects accordinglyOil and Gas are traded on the open commodities market.Just like the stock market the prices are highly volatile and float up and down.Like any other commodity they are purchase on future prices.Look at heating oil if you see it is going... (Klamath Falls Herald & News, OR)
Stock mkts to conduct Muhurat trading today Oct 17, 2009
However, other wholesale commodity markets will remain closed on account of Diwali. Stock, commodities and futures markets will remain closed on Monday on account of 'Bhaiya Dhooj. (India Times)
Gold shines as base metals are tarnished Oct 14, 2009
prices reached a fresh all-time high on Tuesday but oil prices were choppy and base metals retreated as US dollar volatility limited momentum for commodity markets. Gold hit $1,068. (FT.com -- Markets)
Rio Tinto lifts iron ore output forecast Oct 14, 2009
Global miner Rio Tinto Ltd says there are early signs of a recovery in its key commodity markets and has increased its forecast for full year global iron ore production. The mining giant says it remains cautious about the near term outlook, but cost reductions are continuing and it has made considerable progress in planned assets sell-offs to reduce debt. (Sydney Morning Herald -- Business)
When money is worthless Oct 14, 2009
They will only buy commodities directly if they are afraid that the normal arbitrage mechanisms between the futures markets and the commodity markets will be overwhelmed by the volume of demand, so that investment in futures will prove less profitable than it "should". When investment moves to physical commodities, as it may now be doing, it potentially disrupts trade flows. (Asia Times Online)
Rand manipulation is deficient way to boost competitiveness Oct 13, 2009
The problem is that producers of manufactured goods, whose prices are not determined on international commodity markets, are bound to be suffering a loss of competitiveness compared with seven months ago. What has exacerbated the strength of the rand, of course, is the fact that it is a highly tradable currency and the paucity of reserves, compared with other currencies, makes it prone to exaggerated movements in both directions. (Business Report, South Africa)
Dollar dazzler not denting export hopes Oct 12, 2009
Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets. . (Sydney Morning Herald -- Business)
A peek at what markets might do in year ahead Oct 11, 2009
FARGO, N.D. Each year during the time that the Big Iron Farm Show is on, The Money Farm's Mike Krueger is asked to give his take on how the major ag commodity markets will respond over the next few months. Krueger spoke to the group on Sept. 15, the day the markets rocketed upward due to a frost scare in the long range forecast. (Agri-View, WI)
Asia Shares Hit 14-Month High, Dollar Rebounds Oct 9, 2009
"Oil money and other investors appear to be buying resource-related sectors in the past few days, encouraged by climbs in international commodity markets," said Hiroaki Kuramochi, chief equity marketing officer at Tokai Tokyo Securities. Shares of Japanese exporters such as Sony Corp and Honda Motor rose as the yen dipped against the dollar. (ABC News -- Business)
Guggenheim Investment `Excited' About Private Equity, Likes Macro Funds Oct 8, 2009
Guggenheim Investment Advisors is finding global macro hedge funds, which bet on economic trends by investing in equity, fixed-income, currency, commodity markets, more attractive than they have been in years, Stucke said. The centers of global finance are no longer New York City and Hong Kong, Stucke said. (Bloomberg -- US)
Gold ETF trading on SEs? FMC divided Oct 7, 2009
An official at FMC told ET that once the Forward Contract Regulation Act amendment bill is passed in Parliament, products like gold ETFs will become a part of the commodity markets, and will be regulated by FMC. But even before that, opinion within FMC is divided on whether gold ETFs should be allowed to be traded on stock exchanges. Some officials see this as an encroachment on the commodity market, while others argue that since gold ETFs are a spot instrument launched by mutual funds, there is... (India Times)
Tin tests Financial Services Authority s mettle Oct 7, 2009
Positions on this scale with such an obvious impact on market structure are not permitted in equity and bond markets, or in commodity markets in the United States. The impact on forward market structure would be deemed ipso facto distorting, whether the position holder intended it or not. (The Star Online, Malaysia -- Business)
How to disarm theliquidity bomb Oct 7, 2009
On the other hand, a sharp increase in interest rates would knee-cap stock, bond and commodity markets, aborting the rapidly inflating bubble that is threatening to produce yet another orgy of resource misallocation. In the stock market, casinos would no longer be able to bail themselves out of bankruptcy through initial public offerings (IPOs). (Asia Times Online)
Surging Commodities Open Interest Signals Market Peak as Traders See Slump Oct 6, 2009
Stock and commodity markets may drop in coming months as the gradual pace of the economic recovery disappoints investors, , the New York University economist who predicted the financial crisis, said in an interview in Istanbul Oct. 3 ... The dollar has been the best indicator that Ive had in 16 years of trading commodity markets. (Bloomberg -- Canada)
Abengoa Solar moving ahead with power plant Oct 6, 2009
We ve had to deal not only with the commercial markets, but the commodity markets that increased the cost of all materials, said Kate Maracas, vice president of operations for Abengoa in Arizona. The financial picture is clearing as markets loosen. (Phoenix Business Journal, AZ)
The RBA's statement Oct 6, 2009
Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets. For Australia s trading partner group, growth in 2010 is likely to be close to trend. (Sydney Morning Herald -- Business)
Australia raises interest rate to 3.25% Oct 6, 2009
"Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets," Stevens said ... "Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets," Stevens said. (The Star Online, Malaysia)
Benchmark DAX Index Fluctuates Before U.S. Report on Service Industries Oct 5, 2009
New York University Professor Roubini, who predicted the financial crisis, said in an interview Oct. 3 that stock and commodity markets may drop in coming months as the gradual pace of the economic recovery disappoints investors. The Institute for Supply Managements index of non- manufacturing businesses, which reflects almost 90 percent of the economy, probably rose to 50 from 48. (Bloomberg -- Germany)
Markets specialist says stocks have risen too fast Oct 5, 2009
ISTANBUL - New York University professor Nouriel Roubini, who accurately predicted the financial crisis, says stock and commodity markets may drop in coming months as the gradual pace of the economic recovery disappoints investors. Markets have gone up too much, too soon, too fast, Roubini said Saturday. (Boston Globe)
Crude Oil Trades Below $70 on Concern Fuel Demand Will Be Slow to Rebound Oct 5, 2009
Economist , the New York University professor who predicted the financial crisis, said Oct. 3 equity and commodity markets may decline in coming months as the gradual pace of the economic recovery disappoints investors. We continue to expect this volatility in the data to persist until the oil market emerges from the shoulder-month period and the economic recovery gains more solid footing, analysts at Goldman Sachs Group Inc., led by , said in a report today. (Bloomberg -- Australia & New Zealand)
Oil retreats on worsening US job figures Oct 3, 2009
Renewed fears about the global economys recovery prospects led to a hesitant start to the fourth quarter for commodity markets. EDITORS CHOICE. (FT.com -- Markets)
US inventories push up oil price Oct 2, 2009
Crude prices rose by more than $3 a barrel on Wednesday following the latest US inventories data while gold regained the $1,000 level as sentiment towards commodity markets found support from renewed dollar weakness. Oil prices were volatile on Wednesday with Nymex November West Texas Intermediate closing up $3. (FT.com -- Markets)
Crude slides but gold holds $1,000 mark Oct 2, 2009
Oil prices struggled on Thursday after a strong jump in the previous session but gold held the $1,000 level as commodity markets made a tentative start to trading at the start of the final quarter of 2009. However, Michael Lewis, commodities strategist at Deutsche Bank, said that strong global growth and new lows for the US dollar should sustain the bullish outlook for commodity prices next year. (FT.com -- Markets)
Gains in rand won't stop recovery: Absa Sep 30, 2009
"Notwithstanding the rand's recovery, improving external demand already evident in some commodity markets will help kick-start our economy.". Absa Capital sees the rand at an average of R7,33/ in the fourth quarter not far from a 13-month peak at R7,29/ scaled earlier this month. (Business Report, South Africa)
Glut of milk hurting Michigan dairy farmers Sep 30, 2009
The price paid by processors to farmers is set by the U.S. Department of Agriculture based on commodity markets, which rise and fall with global demand. Some of the raw milk is processed into milk for stores as well as butter, yogurt and other products for U.S. consumption. (Ionia Sentinel-Standard, MI)
China lowers gasoline, diesel prices Sep 30, 2009
02 percent since the previous fuel price adjustment, according to the Shanghai-based CBI (China) Co., Ltd., a leading service provider in Chinese commodity markets. Source:Xinhua. (People's Daily Online, China)
Market Forecaster Sep 30, 2009
Members of the CFTC's Subcommittee on Convergence in Agricultural Commodity Markets said on a conference call that previous changes to the CBOT wheat contract hadn't done enough to improve convergence between cash prices and futures. The markets are supposed to come together when futures contracts go into delivery to facilitate hedging, but cash prices have languished well below futures for at least two years. (Midwest Bulls Eye, NE)
Food and commodity crisis may follow, says economist Sep 26, 2009
By developing commodity markets, they ensure a more predictable relationship between supply and demand, he added. Mirakhor, formerly executive director of the International Monetary Fund, is here for the public lecture series organised by the Securities Commission and Universiti Malaya. (The Star Online, Malaysia -- Business)
Nomura Holdings Plans to Raise $5.6 Billion in Bank's Largest Share Sale Sep 25, 2009
Nomura may ally with a partner to accelerate its expansion into commodity markets including crude oil, , head of commodities for Nomura Europe, Middle East and Africa, said in an interview Sept. 22. The firms fixed-income division, which includes commodities, increased front office headcount in Europe, the Middle East and Africa by more than 20 percent since April, Tudor said. (Bloomberg -- UK)
* NBA: Russian billionaire Prokhorov agrees to deal with Nets Sep 25, 2009
He has weathered the global economic crisis better than many of his wealthy compatriots by cashing out of some lucrative assets before the downturn battered commodity markets. Prokhorovs interest in basketball isnt only as a spectator. (Taipei Times, Taiwan -- World)
New Jersey Nyets? Russian tycoon to purchase NBA team Sep 25, 2009
He has weathered the global economic crisis better than many of his wealthy compatriots by cashing out of some lucrative assets before the downturn battered commodity markets. According to Forbes, his fortune shrank by some $7 billion a breathtaking loss by most standards, but mild in comparison with some Russian oligarchs. (USA Today -- Money)
Strong soybean export demand continues Sep 24, 2009
He suggested that a continuing weak dollar plus rising stock numbers could help crop prices post-harvest once the commodity markets can quantify the size of the 2009 crop. Grabanski noted that USDA's September reports showed increases in soybean production in Brazil and Argentina for the coming season. (Minnesota Farm Guide, MN)
A Russian Owner in NBA: Tycoon Buying NJ Nets Sep 24, 2009
He weathered the financial storm by cashing out some lucrative assets before the downturn battered commodity markets. Another rich Russian oligarch, Roman Abramovich, is the owner of the British soccer power Chelsea. (ABC 7 News, DC)
Russian Tycoon Says He's Made Offer To Buy Nets Sep 23, 2009
He has weathered the global economic crisis better than many of his wealthy compatriots by cashing out of some lucrative assets before the downturn battered commodity markets. In the blog posting Prokhorov writes that his interest in a deal stems from a desire to improve Russian basketball by getting access to NBA training methods and sending Russian coaches for internships in the league. (CBS News)
Russian tycoon weighs deal to build Nets arena Sep 19, 2009
While most of his Russian peers saw their industrial empires crumble and lined up for state bailouts, Prokhorov had cashed out of some lucrative assets before the downturn battered commodity markets. Copyright 2009 by The Associated Press. (ESPN -- Basketball)
IMF Approves Sale of Some of Its Gold Sep 19, 2009
The fund's executive board said it decided to sell "a volume strictly limited to 403.3 metric tons" one-eighth of its holdings in a way that does not disrupt the sale of gold in commodity markets, which already were expecting the sale and discounted the IMF decision. The IMF, a 186-nation Washington-based lending organization, is the third-largest official holder of gold in the world, with 3,217 metric tons, after the United States and Germany. (ABC News -- Wire)
Asian shares pull back Sep 18, 2009
Weaker commodity markets put pressure on shares of Australian resources companies, such as mining giant BHP Billiton which fell 2. 4 percent, and helped push the Aussie dollar below Thursday's one-year high. (India Times)
Scourge of commodityinflation returns Sep 18, 2009
A general and persistent speculative trend, such as the one observed in housing or commodity markets during 2001-2008, is difficult to sustain without a cheap monetary policy ... It would appear that major central banks have made commodity markets highly unstable and have created an inflationary and speculative environment that will continue to depress real economic growth and social welfare. (Asia Times Online)
Metal Shortages Loom as Banks Cut Funding, Former BHP CEO Gilbertson Says Sep 18, 2009
While he expects the worst is over for the commodity markets, Gilbertson said his current venture, will seek to avoid debt and acquisitions. Johannesburg-traded Pallinghurst invests in emeralds, platinum, manganese and iron ore, as well as the jewelry brand, which Gilbertson was at Goodwood to promote. (Bloomberg -- Canada)
Component Changes Made to the Global Dow Sep 17, 2009
Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. (Primezone Releases)
Asian Stocks Hit 13-Month High on Upbeat U.S. Data Sep 17, 2009
Share and commodity markets were buoyed by U.S. data which showed industrial output in the world's biggest economy rose for a second month in August and inflation was tame. That pushed the Dow Jones industrial average up 1. (ABC News -- Wire)
Gold gains after Bernanke says recession ends Sep 16, 2009
The Fed chairman's view on economy fueled the whole commodity markets as investors believe that demands for commodities will increase as the economy recovers. Crude oil, copper in New York and grains in Chicago Board of Trade rallied after Bernanke's words. (Xinhuanet, China)
CIMB offers new structured product Sep 16, 2009
He said as the name of the product suggested, the fund was riding on the global recovery of capital and commodity markets of Greater China, with MSCI Taiwan Index, Hang Seng China Enterprise Index and S Excess Return Index as the reference indices. Peter England discussing with Chu Kok Wei (right), while CIMB Islamic Bank Bhd deputy CEO Muzaffar Hisham listens after the launch. (The Star Online, Malaysia -- Business)
US-Sino tensions unsettle commodities Sep 16, 2009
Uncertainty about a sparked by President Barack Obama slapping further tariffs on Chinese tyre imports continued to unsettle investors in commodity markets on Tuesday, dragging rubber prices lower. In Tokyo, February rubber futures traded down 3. (FT.com -- Markets)
Year after Lehman Fall, Obama Touts Change Sep 15, 2009
I didn't even mention rating companies, credit markets, or commodity markets. Have a good day all. (CBS News -- Early Show)
Oil Drops Towards $68 as Dollar Bounces Sep 14, 2009
07 a barrel by 0635 GMT (2:35 a.m. EDT), as broader commodity markets once again traded inversely to the greenback. London Brent crude fell 95 cents to $66. (ABC News -- Business)
Navi Mumbai: A magnet for commercial realty Sep 10, 2009
"Even India's leading conglomerates have taken up commercial space here. The state administration has already shifted wholesale commodity markets to Navi Mumbai. So, you have endorsements from different segments that Navi Mumbai's commercial real estate is much sought after," he says. Suresh Haware, MD, Haware Builders concurs. (India Times)
Too much talk, little action threatens a repeat offence Sep 8, 2009
The report argues that commodity markets, which have seen big price rises recently, are not reflecting a genuine increase in manufacturing output or trade, simply that speculative money is flowing into them. It devotes a chapter to what it calls the ''Financialisation of Commodity Markets. (Sydney Morning Herald -- Business)
Commodity regulators push transparency Sep 8, 2009
US regulators have published a swathe of investment data as part of their efforts to improve transparency in commodity markets following widespread criticism in Congress that speculators were responsible for driving oil prices to record levels last year. The Commodity Futures Trading Commission published dozens of new tables on Friday with details of positions held by Wall Street banks and hedge funds, as well as traditional market participants such as airlines and farmers, across 22 US... (FT.com -- Markets)
CFTC Sheds New Light on Funds in Commodities Sep 6, 2009
The Commitments of Traders (COT) report, issued every Friday, is a crucial supply and demand indicator for traders buying and selling futures on energy, agricultural and other major commodity markets. Pushed by the Obama administration to shed more light on the opaque dealings of speculators blamed for high commodity prices, the CFTC chose to break out four new categories for 22 commodities in the weekly report: Producer/Merchant/Processor/User; swap dealers; managed money and other reportables. (ABC News -- Wire)
PM speech to G20 finance ministers Sep 6, 2009
We must reduce damaging volatility in commodity markets. Sharp price rises, just at the time we least need them, could hinder recovery, while volatility undermines investment. (10 Downing Street)
Dollar inches up ahead of US jobs data Sep 4, 2009
The Australian dollar has closed higher, after the resource sensitive currency was bolstered by a bullish day of trade on commodity markets. But the investors kept to a tight trading range ahead of key US employment data due during Friday's offshore session. (Sydney Morning Herald -- Business)
