05052016Thu
Last update: Thu, 05 May 2016 03pm

Americas

Markets - Commodities - Americas

Gold rebounds after US durable goods data hits dollar NEW YORK/LONDON: Gold rebounded on Tuesday after weaker-than-expected US durable goods data knocked the dollar to a session low against the euro, but prices remained hemmed into a narrow range as a two-day Federal Reserve policy meeting began. Spot gold was up 0.3 percent at $1,241.66 an ounce at 2:08 p.m. EDT (1808 GMT), while US gold futures for June delivery settled up 0.3 percent at $1,243.40 an ounce. The Fed, which will release its post-meeting statement at 2 p.m. EDT on Wednesday, is expected to hold interest rates steady, but traders will be watching for changes to its assessment of the US economy, which could point to more rate increases later in the year. Economists expect a Fed increase in June, with another by year-end. But interest rate futures show less conviction, underscoring the gap between markets and policymakers on the trajectory of rates."Our economists are looking for rates ...

Markets - Commodities - Americas

CBOT soybeans close higher on US rain forecast CHICAGO: Chicago Board of Trade soybean futures rose 1.8 percent on Tuesday, closing near session highs, on expectations that planting progress will slow down in the coming days due to rains across the US Midwest.Additionally, analysts said that heavy rains in Argentina have caused significant crop damage in recent weeks.The May soybean contract broke through the psychologically important $10 a bushel level again but remained will below highs hit last week.Soyoil futures rose on technical ...

Markets - Commodities - Americas

CBOT corn closes up 1.4pc on expectations of slowdown in planting CHICAGO: Chicago Board of Trade corn futures firmed on Tuesday on expectations that rain in the coming days will cause planting delays around the US Midwest.Corn posted its second straight day of gains. The front-month contract, which closed just 3/4 cent below its session high, has risen for 15 of the last 18 sessions.Gains in wheat and soybeans lent support to corn.Farmers have already seeded 30 percent of their intended corn acreage, according to US ...

Markets - Commodities - Americas

CBOT wheat rallies on short-covering CHICAGO: US wheat futures rose on Tuesday, led higher by soft red winter wheat contracts, on a round of short-covering, traders said.CBOT soft red winter wheat for May delivery rose 1.5 percent while MGEX May spring wheat gained 1.1 percent.Gains in K.C. hard red winter wheat was limited by outlook for more rain in the US Plains that will foster development of a crop that most analysts say is already in good shape.The US Agriculture ...

Markets - Commodities - Americas

CBOT soybeans may revisit April 25 high of $10.20 SINGAPORE: CBOT soybeans May contract may revisit its April 25 high of $10.20 per bushel, as it could have resumed its uptrend.The resumption has been indicated by the sharp surge from the April 25 low of $9.77-1/4. The uptrend has been temporarily disrupted by the resistance at $10.17-3/4, the 176.4 percent Fibonacci projection level of an upward wave c, which is the third wave of a three-wave cycle from the March 2 low of $8.56.The ...

Markets - Commodities - Americas

CBOT corn to revisit April 25 high of $3.85 SINGAPORE: CBOT corn is expected to revisit its April 25 high of $3.85 per bushel, as it could have resumed its uptrend.The resumption has been signalled by corn's failure to break the trendline rising from the April 1 low of $3.47-1/4. Further confirmation has been given by the sharp surge on April 25.Corn is expected to seek a support around $3.73-1/2, the 61.8 percent Fibonacci retracement on the uptrend from the April 11 low of ...

Markets - Commodities - Americas

CBOT wheat may retest resistance at $4.77-1/4 SINGAPORE: CBOT wheat may retest a resistance at $4.77-1/4 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The contract is riding on a wave C, the third wave of a three-wave cycle from the April 11 low of $4.46. This wave has been temporarily disrupted by the resistance at $4.77-1/4, its 23.6 percent Fibonacci projection level.The correction triggered by the resistance could have more or less completed around a support at ...