12082016Thu
Last update: Thu, 08 Dec 2016 02pm

Americas

Markets - Commodities - Americas

Gold turns lower ahead of US presidential vote outcome NEW YORK/LONDON: Gold prices turned lower on Tuesday as the dollar and global equity markets firmed with investors growing more convinced that Democratic candidate Hillary Clinton could win the US presidential election.At the end of a bruising political campaign, the Reuters/Ipsos States of the Nation poll gave Clinton a 90 percent chance of defeating Republican Donald Trump and said she was on track to win 303 Electoral College votes, more than the 270 needed, with Trump likely to get 235."If there is any consistency between how the gold market is trading and what polls are saying, the gold market is leaning towards Clinton winning, which means that a downward move will likely be less significant than an upward move in the case of a Trump victory," Danske Bank senior analyst Jens Pedersen said.Spot gold fell 0.3 percent to $1,277.16 an ounce by 3:21 p.m. EST (2021 GMT), after posting the ...

Markets - Commodities - Americas

Arabica coffee tumbles from near two-year high, robusta slumps NEW YORK/LONDON: ICE arabica coffee futures touched a nearly two-year high on Tuesday before sinking about 4 percent on technical factors, as investment funds heavily scaled back long positions after open interest climbed for 22 consecutive trading sessions. Robusta coffee followed suit, making its biggest one-day tumble in more than five years, while sugar prices weakened but remained within Monday's range. Cocoa prices were firm. Financial markets were closely watching the US presidential election, with ...

Markets - Commodities - Americas

CBOT soy ends up on technical buying, positioning ahead of USDA CHICAGO: Chicago Board of Trade soybean futures rose on Tuesday for a fourth straight session on technical buying and position-squaring ahead of a monthly US Department of Agriculture report, analysts said.The CBOT January soybean contract settled up 12-3/4 cents at $10.11-1/4 per bushel after reaching $10.20-3/4, its highest level since Oct. 28. Traders noted farmer selling at the day's highs.Technical buying accelerated as the January contract broke through chart resistance at its 100-day moving average ...

Markets - Commodities - Americas

Soybeans, corn climb on fresh fund inflows CHICAGO: US soybean futures rose on Tuesday as fresh capital flowed into grain and oilseed markets a day ahead of a monthly government crop report and ahead of the results of the US presidential election, analysts said.Corn futures jumped 2 percent to a one-week high and wheat followed the firm trend.At the Chicago Board of Trade as of 12:18 p.m. CDT (1818 GMT), the January soybean contract was up 16 cents at $10.14-1/2 a bushel ...

Markets - Commodities - Americas

CBOT corn neutral in $3.44-1/2 to $3.48-1/2 range SINGAPORE: CBOT Dec. corn looks neutral in a range of $3.44-1/2 to $3.48-1/2 per bushel, and an escape could indicate a direction.The range is formed by the 107 percent and 76.4 percent Fibonacci projection levels of a downward wave c, the third wave of a presumed three-wave cycle from the Oct. 20 high of $3.59-1/4.A break below $3.44-1/2 could cause a loss into the range of $3.40-1/2 to $3.42-1/4. However, the bias seems to be ...

Markets - Commodities - Americas

NY sugar still targets 22.34 cents SINGAPORE: New York March sugar still targets 22.34 cents per lb, as it failed to break a support at 21.26 cents.The support is provided by the 23.6 percent Fibonacci retracement of the uptrend from the Sept. 24, 2015 low of 12.05 cents to the Sept. 29 high of 24.10 cents. This barrier has triggered a bounce, which could be strong enough to extend to 22.34 cents.Wave pattern suggests that the drop from 24.10 cents has ...

Markets - Commodities - Americas

NY coffee may break resistance at $1.6705 SINGAPORE: New York Dec. coffee may break a resistance at $1.6705 per lb and rise more towards the next resistance at $1.7090, as suggested by its wave pattern and a Fibonacci projection analysis.These resistances are identified respectively as the 76.4 percent and the 86.4 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the March 1 low of $1.1940.This wave failed to overcome the barrier at $1.6705 ...