London Stocks End Higher On Manufacturing Data

FTSE 100 closes up 1.8% at 5874.89, with mining shares leading the advance. Capital Spreads says that in a relatively volatile session that started positively before looking like it might reverse into a decline following poor labor data from the euro zone, the US joined the party and complimented the UK manufacturing figures. Continue Reading…

(102,30) CRUDE OIL confirmed on Friday a session of consolidation after the break below 104,20. We have now 105,80 – 102,00 the levels to follow in the coming hours/ sessions. A daily closing below 102,00 will support an undershooting of the 100 level. Continue Reading…

(1670,20) GOLD confirmed on Friday a strong closing above the top of the previous sessions suggesting further s/t strength toward the 200 days line at 1691,30. The move up is still corrective. Continue Reading…

May soybeans were trading 8 cents higher late in the overnight session. China futures are closed today. Palm oil futures in Malaysia were up 2.9% to a new 1-year high. Asian equity markets were mixed overnight despite Chinese PMI numbers that could have lent some fresh support. Continue Reading…

The silver market saw some lift in the aftermath of the Chinese PMI data, but the May silver contract wasn’t able to definitively break above Friday’s highs. With gold and other physical commodity markets somewhat undermined by fears of slowing from Euro zone and from French numbers overnight, it is clear that macro economic doubt generally remains a fixture in the marketplace. Continue Reading…

May natural gas prices challenged Friday’s new contract low overnight but has managed to rebound back into positive territory. It is possible that the natural gas market is susceptible for a near-term rally, especially after prices declined 19% in March, with only one minor grind higher during the middle of the month. Continue Reading…

May cocoa is slightly higher this morning and has avoided an early retest of last week’s lows. After Friday’s close, reports came out that the International Cocoa Organization reduced this season’s crop estimates for the Ivory Coast and Ghana by a total of more than 250,000 tonnes. Continue Reading…

After a minor new high for the move overnight, June gold prices have fallen back below last Friday’s close. As in a number of other markets, gold saw some initial lift off favorable Chinese PMI figures but subsequently that positive economic vibe was mostly lost. Continue Reading…

Market reaction to the USDA report news was somewhat supportive as the market absorbed bearish news and managed to close near unchanged on the session. The USDA pegged planted area at 13.155 million acres, down 1.577 million from last year but up from pre-report estimates centered around 12.75 million acres. Continue Reading…

May wheat was trading 6 cents lower late in the overnight session. Outside market forces look slightly negative this morning with weakness in energy and metal markets. More rain for the central and parts of the southern winter wheat belt this week plus warm temperatures looks to help spark improving crop conditions ahead. Continue Reading…