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myregister
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At the end of trading Wednesday morning (12/07), Rotterdam ended weaker coal prices depressed crude oil prices tumbled. Crude oil prices slipped in late trading on Wednesday morning (12/07), stressed the increase in crude oil production in almost every region of the main export though OPEC and Russia have reached an agreement to reduce production, stoking fears that the excess fuel that has been going on the market for more than may take two years to 2017. With the weakening of crude oil prices, the price of coal Rotterdam most active futures contract is a contract in January 2017 which dropped at 71.00 dollars per ton. This commodity price decreased 4.95 dollars, equivalent to 6.52 percent compared to the previous closing. Analysts estimate that coal futures price movements Rotterdam at the next trade has potential to be bearish considering US Dollar strength ahead of US rate hike next week. The price of coal futures potentially test support level at 70.50 dollars and then next to 70.00 dollars.
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Gold prices fell slightly in late trading on Wednesday morning (12/07), even going bargain hunting after gold prices touched 10-month lows in the previous session, but sentiment US interest rate rise early next week suppress the increase. LLG Spot gold prices fell 0.2 percent at $ 1,167.80 per ounce. Gold touched $ 1,157 an ounce on Monday, the lowest since February 5. US gold futures prices, which also marks the 10-month lows in the previous session, for February delivery ended at $ 1,170.10 per ounce. Interest rate futures signaled traders see there are about 93 percent chance the Fed will raise interest rates by a quarter point to 0.50 to 0.75 percent next week, FedWatch CME Group show. Fed officials warn on Monday that the inclusion of government economic plans Trump should not play a role if the economy is in crisis, it is designed to help the long-term prospects of the economy. Gold depressed the combined impact of a stronger dollar and the US stock market rise, coupled with significant outflows from exchange-traded fund (ETF) and weak physical demand in India. Analysts estimate that the price of gold for the next trade will move weakened by the strengthening US dollar and US interest rates plan which are approaching. The gold price is expected to move in the range support between $ 1,166- $ 1.166.
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The price of arabica coffee futures on ICE Futures exchange at the close of New York trading on Wednesday morning (12/7) ends slump. The weakening of arabica coffee prices triggered bearish sentiments. Rabobank analyst, Carlos Mera stated very good weather in Colombia and Central America, as well as Honduras, generating a volume of good product. Meanwhile, in Brazil the weather has been very good also address the initial concerns over drought that has sparked forecast poor harvest in 2017. Bearish sentiment was also boosted by the final data Monday from a group of farmers who showed Fedecafe Colombian coffee production last month was 1.65 million bags, jumped 25% on an annual basis. Likewise, exports rose 14.6% YoY to 1:25 million tons. Arabica coffee futures prices closed down towards 1.4200 dollars, down by 1.73 percent. Analysts estimate that the price movements of Arabica coffee futures on ICE Futures US in New York at the next trade will weaken limited by the strengthening of the US Dollar ahead of the planned increase in US interest rates next week. The price of Arabica coffee futures on ICE Futures US in New York the potential to test support level between 1.3900 dollars and 1.3600 dollars.
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Natural Rubber Fundamental Daily Analysis
myregister replied to myregister's topic in Fundametal Analysis
Tocom rubber price in midday trading today (12/7) ended up. Prices of natural rubber futures for the most active contract, namely in May 2017 helped to strengthen by Yen's weakening. It is observed that Yen weakened and USDJPY rose about 0.3 percent at 114.33. A weaker yen makes Tocom futures price of natural rubber rose. For overseas buyers with a weakening yen makes commodities traded in the currency has become relatively cheaper, so the demand has increased. Natural rubber prices in Tocom for the most active contract increased by 2.4 yen or 1.0 percent at 242.80 yen per kilogram, an increase compared to the previous closing at 240.40 yen per kilogram. Analysts estimate that Tocom rubber price movements on the next trading day may still appreciate by the weakening yen. It is expected to meet resistance level at 248.00 yen. If there is no further resistance it may rise to 253.00 yen. Meanwhile if lower prices will find support between 238.00 yen and 233.00 yen. -
Cocoa futures price on ICE Futures at the end of trading on Wednesday morning (12/07) closed slump. Weakening prices triggered an increase cocoa production in Ivory Coast. Ivory Coast will increase the volume of cocoa can be sold to foreign buyers who do not have a presence in the country to 400,000 tons from 220,000 tons, three senior government source told Reuters on Tuesday. Cocoa and Coffee Council (CCC) Ivory Coast also plans to increase exports of cocoa to 5 percent from 2.5 percent to curb speculation cocoa prices, said the sources. At the end of trading early this morning the price of cocoa futures contracts in March 2017 which is the most active contract was observed to be closed down. Commodity prices closed down by 0.38 percent at 2,358 dollars per ton. Analysts estimate that the price of cocoa futures for the next trade will move in the trend of limited bearish by the strengthening of US dollar ahead of the planned increase in US interest rates next week. For the next trading price of cocoa futures on ICE Futures US in New York has the potential to penetrate support level at 2,310 dollar.
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The price of sugar futures on the commodity exchange ICE Futures US in New York Wednesday morning (12/7) ended jumped triggered increased demand for ethanol in Brazil.Sugar futures rebounded from the lowest level in four months, a decision supported by state-run oil company in Brazil to raise the price of gasoline. The increase in gasoline prices is positive for sugar because there will be more demand for ethanol in Brazil, pushing factories there to direct more processing of sugar cane into ethanol rather than sugar. Sugar futures observed a sharp rise and closed up by 3.01 percent at 19.51 cents per pound. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.00 cents and next towards 18.50 cents. While the level of resistance to be tested if the price is between 20.00 cents and 20.50 cents per pound.
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The price of tin in Malaysia Stock Exchange slumped in trading Wednesday (12/7). Falling prices depressed the strengthening US dollar overnight. The US dollar managed to rebound strong against all major rivals by a rise in US bond yields after strong sentiment Fed rate hike. Strengthening of the US dollar makes commodities traded tin denominated in US dollars to be expensive, so demand decreases. The price of tin declined today. The industrial metals prices traded at 21,200 dollars per tonne, a decrease of 150 dollars or 0.7 percent from its previous close at 21 050. Analysts estimate at the next trade Tin has potential to lose its value with strengthening US dollar ahead of the planned increase in US interest rates next week. Price will face the support level between 20,850 dollars and 20 650 dollars.
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Crude oil prices fell in trading Wednesday (12/7) in the Asian session, hampered by doubts continued to be cutting crude oil production by OPEC and Russia will be able to successfully cope with oversupply that has gripped the market for more than two years. US crude oil futures price of West Texas Intermediate (WTI) fell 31 cents, or 0.61 percent, at 50.62 per barrel. Crude oil futures prices International benchmark Brent traded at $ 53.65 a barrel, down 28 cents, or 0.52 percent. OPEC oil production hit a record high in November, rose towards 34.19 million barrels per day (bpd) from 33.82 million bpd in October, according to a Reuters survey based on shipping data and information from industrial sources. Russia reported average oil production in November 11.21 million barrels per day, the highest in nearly 30 years. That means the production of OPEC and Russia itself enough to cover almost half of global oil demand, which is just above 95 million barrels per day. Analysts estimate that crude oil prices will move with the weak sentiment agreement as doubt's effect that OPEC and Russia can cope with a global oversupply. But if tonight EIA report realized, will raise the price of crude oil. Crude oil prices are expected to move in the support range between $ 50.10 and $ 49.60.
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The movement of USDJPY on Asian session observed strengthening after opened lower at 113.85 in early trading, and now this pair is moving towards 113.76. This pair also seems trying to break one of the support line first. Japanese Yen on late Asian session still powered to beat US dollars by the strengthening stock market and Nikkei which lift a fundamental lack of US dollars in an evening session. Japanese economic data releases this morning is weak to index average cash earnings were lower than expected. Technically, the USDJPY may rise towards the resistance range 114.70-115.43 and if not breaks will fall back to around 113.54 -112.96. So analysts suggest that the normal range for USDJPY pair is estimated to have the support level at 112.59 and the resistance level at 114.91.
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The price of CPO in Malaysia commodity exchanges in trading Wednesday afternoon (12/07) was observed to fall. A weaker CPO prices this afternoon triggered weakening of crude oil in the Asian trading session. Crude oil prices fell in trading Wednesday (12/7) in the Asian session, hampered by doubts continued to be cutting crude oil production by OPEC and Russia will be able to successfully cope with oversupply that has gripped the market for more than two years. CPO price most active contract on the commodity exchanges Malaysia which February 2017's contract today seems depreciated by 0.5 percent and traded at 3,167 ringgit per tonne. Analysts estimate that the price movement of CPO futures at the next trade will pay attention to the movement of crude oil prices, which if it continues to weaken will push the price of CPO. Price movements can also be affected by currency movements Ringgit and the global supply and demand conditions.
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Pound exchange rate movements in the end of Asian session is weaker than what we anticipated against the US dollar after the price actually opened higher at 1.2679 than previous one in early trading, the pound exchange rate is now fall down around 19 pips and the pair is rolling at 1.2660. Pound at end of Asia session resumed profit taking trading pressure before considering the release of UK manufacturing production data which will be reported negatively in European session which has some effect on the next GBPUSD movement. Technically GBPUSD fall down towards the range of support between 1.2624-1.2565 and if it does not reach this range the price will rise towards 1.2699-1.2747. So the analysts suggest that the normal range of GBPUSD is estimated to have the support level at 1.2567 and the resistance level at 1.2780.
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United States Dollar Fundamental Analysis(including USDX)
myregister replied to myregister's topic in Fundametal Analysis
Ending the American session forex trading a few hours ago, the US dollar scored strong rebound against all major rivals by a rise in US bond yields from the previous trading. Rising bond yields are lifted by sentiment plans Fed rate hike next week in the last FOMC meeting this year. Besides of that, US dollar rebound power was also obtained from the data release of the country's factory orders in November that period increased significantly although overshadowed by the growing foreign trade deficit the United States in October. This morning US dollar was observed to return a positive move in the green zone by sentiment of Fed rate hikes and to the fundamental driving force of dollars at the evening session are the data that is Jolts Job Openings minor. This data is expected to show an increase in the data from the previous period. The dollar index, which measures the strength of US dollar against six major currencies in Asian trade is at 100.48, after in early trading opened at 100.45 and closed at the end of the previous trading at 100.44. -
Australian Dollar Fundamental Analysis.
myregister replied to myregister's topic in Fundametal Analysis
Australia's Office of National Statistics (ABS) Wednesday morning (7/12) announced less encouraging news for the country's economic growth which reported moderately severe contraction from the previous quarter. After the announcement of Australia's GDP Q3-2016, Australian Dollar profit taking which happened earlier trade continued through the Asian session. Australia Q3 GDP dropped to 0.5% while the previous quarter and the market consensus of 0.6% down to 0.2%. As response to this data, AUDUSD pair more depressed than the previous trade. Additionally pair is burdened by the drop in oil prices after the previous trading declined. For subsequent trade to the American trading session this evening, Many analysts estimated AUDUSD may fall down further to the range of support between 0.7407-0.7370. But if it does not penetrate these ranges, the pair may tried to climb into the range of resistance between 0.7480-0.7507. -
Euro exchange rate movements on Asian session are moving positively against US dollar after the price of this pair opened lower at 1.0717 in early trading, and the Euro exchange rate is now rolling around 1.0720. Euro in the end of Tokyo session was trying to rebound from the previous trading profit-taking pressure in light of minor economic data releases of European session that German industrial production data and Eurozone PMI retail data. However, limited by sentiment Fed rate which has higher chance to rise next week if the release of US economic data this evening exhibited significantly increased. Technically, EURUSD will attempt to rise towards the range between 1.0821-1.0890 and if the position is not transparent then the pair fell into the range of 1.0728-1.0635. Many analysts suggest that the normal range of EURUSD pair is estimated to have the support level at 1.0489 and the resistance level at 1.0933.
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At the end of trading on Tuesday morning (06/12), Rotterdam coal price slump ended. Coal prices have dropped ignore the rise in crude oil and a weakening US dollar. Coal prices have been hampered by weak profit taking following a coal mine accidents in China. Rotterdam coal price futures for the most active contract is a contract in December 2016 slumped towards around 75.95 dollars per ton. Commodity prices decreased by -2.00 dollars, equivalent to 2.57 percent compared to the previous closing. Analysts estimate that coal futures price movements Rotterdam at the next trade potentially weak with the strengthening US dollar. The price of coal futures potentially test support level at 75.50 dollars and 75.00 dollars. While the level of resistance to be tested if the price increase is between 76.50 dollars and 77.00 dollars.
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The price of tin in Malaysia Stock Exchange rose on Tuesday afternoon (06/12). The increase in the price of tin driven positive sentiment on Wall Street gains. US stocks closed higher at the end of trading on Tuesday morning (06/12), is not affected by the political situation in Italy that led to the resignation of Prime Minister Matteo Renzi, but increased the data supported the increased growth of the service sector and a rise in crude oil. The price of tin on the commodity exchanges of Malaysia observed a rise today. The industrial metals prices traded at 21,200 dollars per ton. Tonight will be released October US trade data that indicated the US trade deficit is reduced. If realized US dollar may strengthen. Analysts estimates that Malaysian tin price movements at the next trade will weaken limited to the potential strengthening of the US dollar. Price will face support level at around 21,000 dollars and 20,800 dollars. But if there is an increase, the price of tin will face resistance level at 21,400 dollars and 21,600 dollars.
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After EUR managed to rally after the referendum Italy early trading last week the price ono the beginning of the European session was consolidatingn. Then after positive sentiment driving the EURUSD is getting stronger by the release of German factory orders data in October, the euro drove back. EURUSD power to move stronger than expected actually derived from the German factory orders report Destatis which reported increased greatly exhibited significantly from a contraction the previous data climbed to 4.9% after -0.3% in September. For the next trade until the close of trading in then end of American session tomorrow morning, analysts viewed that technically EURUSD pair could continue to rise to the range between 1.0808 - 1.0850. And if it is not until those ranges then the pair may fall back towards the range between 1.0715-1.0678.
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Crude prices in trading Tuesday afternoon (06/12) declined after crude oil production rose in almost every region of the main exports despite plans by OPEC and Russia to reduce production, stoking fears that over-production has been steady in the market for more than two years may lasted until 2017. US crude oil futures price of West Texas Intermediate (WTI) was at $ 51.12 a barrel, down 67 cents, or 1.29 percent. International benchmark price of Brent crude oil traded at $ 54.44 a barrel, down 50 cents, or 0.91 percent, from the last closing them. Traders said the fall in prices was due to increased production from the Organization of Petroleum Exporting Countries (OPEC) and Russia. OPEC oil production hit a record high in November, rose to 34.19 million barrels per day (bpd) in November from 33.82 million bpd in October, according to a survey based on shipping data and information from industrial sources. The news comes just days after OPEC and Russia agree historic deal to cut production in 2017, triggering an increase of more than 10 percent in price, in an effort to end the excess supply of fuel has been steady in the market for more than two years. Analysts estimates that crude oil prices for the next trading potentially weakened by fears of increased production of OPEC and Russia. Prices are expected to move in the range of between $ 50,60- $ 50.10 which are support, whereas if the ride will move in a range Resistance between $ 51.60 - $ 52.10.
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Natural Rubber Fundamental Daily Analysis
myregister replied to myregister's topic in Fundametal Analysis
Tocom rubber prices in trading Tuesday afternoon (06/12) finished up. Prices of natural rubber futures for the most active contract, namely in May 2017 ended up back driven rise in rubber prices on the Shanghai stock exchange. The most active rubber contract on the Shanghai futures exchange for May delivery SNRcv1 end the overnight trade, rising 2.3 percent. Rubber market on Asia session has been supported by a significant decline in the Japanese yen and the Chinese yuan against the dollar recently, which makes the yen and yuan-currency commodities cheaper for holders of other currencies. Natural rubber prices in Tocom for the most active contract, increased by 0.7 yen or 0.3 percent at 240.40 yen per kilogram. Prices are expected to meet the resistance at 245.00 yen. No further resistance at 250.00 yen. Meanwhile if the price drops will find support between 235.00 yen and 230.00 yen. -
Australian Dollar Fundamental Analysis.
myregister replied to myregister's topic in Fundametal Analysis
After the Reserve Bank of Australia (RBA) decided to keep the monetary policy or position of the interest rate in line with expectations of economists and markets, the rate of the previous trading the Australian dollar can not continue. Aussie natural profit taking after 3 days of rally weigh Australia Q3 GDP data release in a few hours. The Australian Government will announce Q3 GDP data which period the country is expected to show a decrease in the data from the previous quarter. This sentiment weakens some strong driving commodity currencies, such as the strengthening of crude oil prices and the increase in commodity prices excellent. For subsequent trade to the American trading session this evening, many analysts estimates that AUDUSD pair may even falling down further to the range of 0.7419-0.7398. But if there is a revision to that increase then the pair may fall towards the range of 0.7496-0.7523. -
The price of CPO on Malaysia commodity exchange observed rose on Tuesday afternoon (06/12). CPO price increases following the increase in soybean oil as a rival. Soybean futures on the Chicago exchanges traded up. Soybean oil trading on the Chicago Board Of Trade monitored rose 0.48 percent to $ 37.85. Likewise, CPO price most active contract on the commodity exchanges Malaysia today seems to have increased. Contract prices in February 2017 which is the most active contract rose as much as 39 ringgit, or 1.2 percent and traded at 3,174 ringgit per tonne. Analysts estimate that the price movement of CPO futures at the next trade has the potential to increase the potential gain in soybean prices on the Chicago Board Of Trade and Dalian Commodity Exchange. It has the potential to test the resistance level at 3,220 ringgit and 3,270 ringgit
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Gold price movements on the European session is getting weaker than before after being opened higher at 1170.52 in early trading , now the price of gold is still rolling at 1169.82. trying to break the strong support. The price of gold on early European session retreat from the previous position early when the US dollar was still weak. But now the US dollar rebound was observed to respond to the US bond yields which were trading increased American session. The weakening gold prices was also fueled by strong Asian and European stock exchanges. Technically, it seems that this commodity's price will fall back towards the range between 1167.59-1163.66. But if it is not transparent this pair can climb back to the range between 1176.03 - 1179.70. So analysts suggest that XAUUSD pair today is expected to have the support level at 1151.81 and resistance level at 1194.74.
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The price of sugar futures on ICE Futures exchange in late New York trading early Tuesday morning (06/12) ended weak weakening demand triggered. China, the world's largest sugar importer, have shown that they can restrict imports of the official 2016/2017 to around 1.8 million tonnes. "If true, it means that official imports will be around 1.5 million tonnes less than we expected," according to analysts Marex Spectron. Demand has fallen in other countries such as Sudan and Egypt due to shortage of dollars. At the close of trading this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar dipped by 0.18 cents or equal to 0.94 percent at 18.94 cents per pound. Analysts estimate that the price movements of raw sugar futures in New York at the next trade will weaken by the US dollar strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 18.40 cents and 17.90 cents.
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ICE Futures price of cocoa futures at the end of trading on Tuesday morning (06/12) closed slump. Weakening prices triggered an increase cocoa production in West Africa and Indonesia. Arrivals continued and major cocoa port in Ivory Coast's largest cocoa producer, and news that exports from the island of Sulawesi in Indonesia more than doubled in November of last year weighed on cocoa. At the end of trading early this morning the price of cocoa futures contracts in March 2017 which is the most active contract was observed to be closed down. Commodity prices closed sharply lower about 1.17 percent at 2,367 dollars per ton. Analysts estimate that the price of cocoa futures for the next trade will weakening limited by the strengthening US dollar. For the next trading price of cocoa futures on ICE Futures US in New York has the potential to penetrate the support level at 2,320 dollars. If the Support level is successfully penetrated the next level is 2,270 dollars.
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Gold price movements on the European session is getting weaker than before after being opened higher at 1170.52 in early trading , now the price of gold is still rolling at 1169.82. trying to break the strong support. The price of gold on early European session retreat from the previous position early when the US dollar was still weak. But now the US dollar rebound was observed to respond to the US bond yields which were trading increased American session. The weakening gold prices was also fueled by strong Asian and European stock exchanges. Technically, it seems that this commodity's price will fall back towards the range between 1167.59-1163.66. But if it is not transparent this pair can climb back to the range between 1176.03 - 1179.70. So analysts suggest that XAUUSD pair today is expected to have the support level at 1151.81 and resistance level at 1194.74.