LiveWire Economics Blog
Gold and Oil News, LiveWire Economics Blog - January 10, 2013 0:00
Commodities Firm on Oil Data
The commodity complex was firm again today after the latest U.S. oil inventories were released. While this data is more important for the price of West Texas Intermediate it still has an effect on marginal demand. Brent Crude refused to back down below $111 after challenging the recent channel highs above $112 yesterday. If this […]
Gold Ends Week Down on FOMC Minutes, Fund Re-Balancing
The minutes from the December FOMC meeting sent major shock waves reverberating through the capital markets this week. Not only was the Euro thrashed back to re-test the $1.30 level, Gold was taken to the woodshed and beaten back to $1626 before rebounding sharply intra-day to close the week at $1655.85 per ounce.  In the […]
Fiscal Cliff Avoided, Can Kicked, Risk On
Hey sometimes this market commentary thing is really easy. I hope everyone enjoyed their holidays and we can get back to the very serious business of kicking the financial burden farther down the road until my daughter’s grandchildren are indebted. As a first post for the New Year I want to get a few things […]
The Euro and Cattle Futures Follow Through – Signalling Inflation Incoming
Last week’s close in both the EURUSD pair, $1.319, and Cattle Futures, $133.64 per hundredweight, marked breakouts for both markets. The Euro broke through a quadruple top at $1.317 on the weekly chart pushing past $1.32 last week but couldn’t hold it. During this, the last week of the year, the EURUSD pair pushed again […]
US Posts Budget Surplus for the First Time Since 2008
The US government has posted its monthly budget surplus for the first time since September 2008. The US Treasury Department on its report on Thursday disclosed that the tax receipts gained while spending on education, Medicare and defense programs reduced in April. The US government reported the budget surplus figure of $59 billion for the […]
China Reports Surprise Decline its Trade Data
China recently published its report in trade activity which came in less than expectations creating uncertainty in the markets. Investors were now looking at slower global demand in reaction to lower Chinese trade data. Exports by China increased by 4.9 percent in the Month of April which imports showed the gain of only 0.3 percent […]
China Reports Steady Gains in Manufacturing Index
China released its manufacturing data for the month of April which gained consistently for the fifth straight month in April. The Purchasing Managers’ Index (PMI) surged to 53.3 for the month of April as compared to 53.1 in March. The reading of PMI in February stood at 51. The recent manufacturing data depicts that the […]
Bank Failures Will Cost $12 Billion by 2016: Projects FDIC
The Federal Deposit Insurance Corporation released its projected figure on its depots insurance fund according to which bank failures are expected to cost almost $12 billion by the year 2016. FDIC published a detailed report on its deposit insurance fund which is pooled by banks and is used for protection of depositors incase a certain […]
China Reports Decline in Home Prices
China reported decline in its home prices for the month of March which raised concerns over the country’s slowing construction activity. According to the National Bureau of Statistics, 46 cities reported weaker prices as compared to prior month out of 70 surveyed cities. Data remained flat from 16 cities while only 8 of cities reported […]
Consumer Sentiment Index Lower in April
University of Michigan released it consumer sentiment index which ended lower creating worries on US economic recovery. According to the preliminary reading by University of Michigan, the consumer sentiment for the month of April fell to 75.7 as compared to 76.2 in March. Analysts on average were expecting the figure of 76.4 for the respective […]
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