lior

Last week gold and silver didn't do much at the first few days of the week but after the Fourth of July Vacation precious metals tumbled down. This decline was mostly likely due to the ECB rate reduction from 1% to 0.75%. This news adversely affected not only the Euro but also other markets such as oil gold and silver. The other news item was published on Friday: the U.S non-farm payroll report showed only 80k added jobs. This news also pulled down bullion along with other commodities. This upcoming week the main events that may affect bullion will revolve around U.S trade balance, the minutes of FOMC meeting, China's GDP for Q2, Euro Council Meeting, and U.S PPI.

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Oil prices shifted with an unclear trend during the first couple of days of the week but soon enough they declined mainly on the last day of the week after the U.S labor report came out and showed that only 80 thousand jobs were added. The ECB rate reduction pulled down the Euro and in the process may have also slightly adversely affected oil rates. During the week, WTI oil slightly fell by 0.6%. Brent oil, unlike WTI, finished the month rising by 1.24%. During the upcoming week there are several reports that may affect oil rates including the U.S trade balance report, minutes of the FOMC meeting, China's GDP, OPEC monthly report and IEA update.
For the complete oil market weekly analysis at Trading NRG

Oil Prices –July ...

Precious metals took another dive during the first week of July. This fall coincided with the decline in many other financial markets such as oil, U.S stocks etc. The two main events of the week that contributed to fall of bullion rates were the ECB rate decision on Thursday and the U.S employment report. ECB has decided to cut the interest rate by 0.25pp to 0.75% - its lowest rate level. This news adversely affected not only the Euro/USD but also other markets such as stocks and commodities. The following day the U.S non-farm payroll report came out. This time many had anticipated the report will be positive and show a high growth in employment compared to recent months (at least 120k+) but this wasn't the case. Employment expanded by only ...

Oil prices continued to dwindle during the first part of the week but by the end of the week oil, much like other commodities, hiked on account of the recent surprise resolution of the EU Summit. Will this recovery hold up or will oil prices change direction and tumble down? Despite the nearly 10% hike in WTI on Friday, it finished the month 1.81% below its initial level. Brent, much like WTI, also finished the month rising by 6.12% but on a monthly scale declined by 4.98%.
During the upcoming week there are several reports that may affect oil including the U.S non-farm payroll report, U.S manufacturing PMI survey, ECB rate decision and U.S jobless claims.
For the complete oil market weekly analysis at Trading NRG
Oil– ...