Wednesday, February 13, 2013

Crude Oil Prices Fall As U.S. dollar decline

Crude oil prices in commodity trading Tuesday (12/02) ended strong triggered weakening of the U.S. dollar as well as the projected increase in global demand for crude oil by OPEC as saying.

Crude oil for March delivery rose 48 cents, or 0.5%, to end at the price of $ 97.51 per barrel on the New York Mercantile Exchange.

Parties to the American Petroleum Institute (API) will present U.S. oil supply data on Tuesday, while the Energy Information Administration will release data on Wednesday morning. The analysts expect that will increase oil supplies by 2.5 million barrels in the week ended February 8 hours ago.

Gold rose, though still below the $ 1.650

Gold prices move up in trading Tuesday (12/02) after finding the support point of the U.S. dollar weakening again post the results of the developed countries in the G7 announced, so do the closing price of gold is still below the $ 1.650 per ounce.

Gold for April delivery settled up 50 cents to $ 1,649.60 an ounce on the Comex - New York Mercantile Exchange. With a trading range between $ 1,639.50 to $ 1,653.80.

A day earlier, a correction in gold prices ended 1.1% below the $ 1.650 per ounce on news that the G7 desire away from a currency war with a coordinated effort. Today, surprisingly, after the results were announced G7 meeting in which they are not targeting the exchange rate has a positive sentiment for the gold price to rise.

Nikkei down; constitute a positive market response await G20 meeting

Nikkei slowly moved lower on Wednesday as a pause in the yen's decline on profit-taking in exporters, while Gree Inc. tumbled after cutting its annual profit.

Nikkei down 0.3 percent at 11,337.19, moving away from 33-month highs 11,498.42. Market analysts said the underlying mood remained positive after a U.S. Treasury Department official on Monday voiced support for Japan's aggressive policy to fight deflation and boost growth.

But the market may be susceptible to short-term volatility until the weekend, when the Group of 20 finance chiefs will meet in Moscow.

The Japanese market is likely to remain sensitive to the commentary in the official G20 meeting. Any comments can move the market rate.

Investors focus on individual stocks based on their income, such as internet gamers Gree Inc, a bit disappointed with the profit and cuts outlook for profits, followed by Nomura Securities cut its rating.

Gree fell 11.2 percent to ¥ 1,206, and the eighth most traded stock by turnover on the forum after cutting profit outlook for the year to June to 50-60 billion yen ($ 537 - $ 645 million), compared with a previous estimate of 74 ¥ -84,000,000,000.

Exporters lower, with Toyota Motor Corp. slid 1.2 percent and Sony Corp. fell 5.0 percent.

The yen fell on Monday after U.S. Treasury Undersecretary Lael Brainard said the United States supports Japan's efforts to end deflation and stimulate growth. He then explained that Japan should honor its commitments G7 at market exchange rates.

The yen rebounded on Tuesday after an officials from the Group of Seven said there was concern about excessive movements in the Japanese currency.

The dollar last traded at 93.32 yen, down from 33-month highs near 94.41 yen, while the euro fell more than one yen to the extent 125.00.Investors will also likely remain cautious ahead of the BOJ meeting on Thursday, although many expect the bank to delay any easing steps until a new governor was appointed.