Forex Trading and Futures – Gold Prices Higher Again – Crude Oil Slips – USD Mixed vs EUR and JPY

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(Best Syndication News) Gold and silver prices increased again Wednesday as a gloomy economic forecast is released and the euro rebounds (see forex and futures tables below). A mixed bag of economic news sent futures and forex markets in different directions.

World Economic News

The International Monetary Fund (IMF) reviewed their fund resources Tuesday and provided a statement. In order to boost their power in dealing with European sovereign debt issues, the IMF wants another $500 billion in lending capacity. Although the U.S. is resistant to the idea, the IMF is looking for EU members to contribute $200 billion.

On Tuesday, Managing Director Christine Lagarde said that the IMF is exploring several options to fulfill their mandate to providing global stability.

The Australian unemployment rate was unchanged at 5.2 percent in December. Since economists had expected the rate to be 5.3 percent, the lower number could be seen as positive for the AUD.

When seasonally adjusted, employment decreased by 29,300 (-0.3%) to 11,421,300. Full-time employment increased 24,500 to 8,051,000, and part-time employment decreased 53,700. The Australian Bureau of Statistics (ABS) revised their November unemployment rate to 5.2 percent.

The World Bank sees a turbulent year ahead. They predict that developing countries will lead growth in 2012; however a “second wave” of financial crisis in Europe could slow the rate of growth.

The World Bank cited the festering sovereign debt crisis in their statement, saying the issue will cause problems for other countries, including Brazil, India, Russia, South Africa and Turkey.

Precious Metals

February gold futures on the COMEX added $4.30 (+0.26%) to $1,659.90 a troy ounce (see the survey #2 chart below).

Silver futures increased 41 cents (+1.35%) to $30.54 an ounce. The ratio between gold and silver tightened to 54.3.

Platinum was lower; however copper and palladium were higher.

There was a similar trend on the Tokyo Commodity Exchange (TOCOM). Gold added 4 yen (+0.10%) to ¥4,099 per gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

Although the tensions between Iran and the Western World has put upward pressure on oil prices, looming economic concerns and high inventories in the United States have kept oil around $100.

On Wednesday the American Petroleum Institute said there was a surprise drop in stocks. Oil inventories decreased by 4.8 million barrels for the week ending January 13.

Light sweet crude oil (WTI) for March delivery declined 12 cents (-0.12%) to $100.59 a barrel. Since the settle, WTI is up 67 cents.

Natural gas and heating oil were both lower; however Brent crude oil on the Intercontinental Exchange (ICE) gained 19 cents (+0.17%) to $111.53 a barrel.

The difference (spread) between Brent and WTI expanded to $10.94.

Currency Exchange Rates

The euro (EUR) gained against all major currencies with the exception of the Swiss franc (CHF) Wednesday (see the cross tables below). The Australian dollar (AUD) was the big loser.

The US dollar (USD) declined against most major currencies (see average dollar rate chart below). The USD declined 0.49 percent vs the British pound sterling (GBP), 0.71 percent vs the Swiss franc (CHF) and 0.31 percent Canadian dollar (CAD); however the USD gained 0.09 percent vs the Japanese yen (JPY).

The greenback turned around vs the JPY (see intraday chart below). The USD/JPY hit 76.76, the EUR/USD hit 1.2859, the GBP/USD hit 1.5431, the CAD/USD hit 1.0104, he USD/HKD hit 7.7641, and the AUD/USD hit 1.0395.

By: Tom Madison
Business Reporter

TOCOM Chart and our exclusive dollar conversions:

1/18/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,099 Gold (standard) $1,659.66 4 0.10% 1.41% -6.56% -6.20%
75 Silver $30.37 1 1.63% 2.32% -7.06% -23.08%
3,765 Platinum (standard) $1,524.43 -19 -0.50% 3.46% -3.41% -16.96%
1,642 Palladium $664.84 22 1.36% 3.92% 1.36% -11.53%
65,320 Gasoline $3.22 510 0.79% -0.17% 1.38% 7.90%
51,760 Crude oil $107.13 -230 -0.44% -1.26% 0.08% 1.99%
296 Rubber $1.75 2 0.75% 8.46% 4.37% -17.66%
54.65 Ratio Gold/Silver -1 -1.50% -0.89% 0.54% 21.94%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart Below:

Wednesday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
1/18/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2210.00 Aluminum 3-mo LME 60.00 2.79% 6.33% 4.76% -6.32%
111.53 Brent crude (not settled) 0.19 0.17% -1.54% 1.45% 2.03%
61.67 Coal 0.17 0.28% -7.72% -10.71% -19.14%
3.75 Copper HG 0.02 0.62% 6.82% 5.04% -6.14%
100.59 Crude oil (WTI) -0.12 -0.12% -1.61% -0.37% 18.12%
2.11 Ethanol ZE CBOT -0.03 -1.40% -6.67% -15.62% -27.35%
1659.90 Gold GC 4.30 0.26% 1.74% -5.22% -5.54%
3.01 Heating Oil (HO) -0.02 -0.78% -2.84% 0.78% 1.50%
2.47 Natural gas NG HH -0.02 -0.64% -15.95% -31.03% -36.44%
667.95 Palladium PA 13.00 1.98% 5.25% 3.78% -10.12%
1523.30 Platinum PL -3.40 -0.22% 4.16% -1.63% -16.59%
2.83 RB RBOB Gasoline 0.05 1.95% 1.90% 8.00% 2.53%
30.54 Silver SI 0.41 1.35% 2.44% -6.40% -22.01%
733.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% 3.97% 10.23%
52.50 UxC Uranium U3O8 -0.50 -0.94% 0.48% 0.96% 5.11%
1/18/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
353.9 Average All 1.00 0.28% 2.37% -1.45% -7.69%
656.3 Metals Average 2.31 0.35% 3.25% -2.32% -10.90%
40.6 Energy Average 0.03 0.08% -3.14% -2.55% 0.34%
54.3 Ratio Gold/Silver Prices -0.59 -1.08% -0.68% 1.26% 21.11%
-136.6 Difference Plat-Gold -7.70 5.97% -19.22% -32.64% -297.97%
1.09 Ratio Plat/Gold 0.01 0.48% -2.33% -3.65% 13.25%
1.1 Ratio Brent / WTI Prices 0.00 0.29% 0.07% 1.82% -13.62%
$10.94 Difference Brent - CL 0.31 2.92% -0.91% 21.83% -54.70%

Average Dollar Rates:

Wednesday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
1/18/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9631 Average Against Aussie 0.16% -0.63% -1.99% 2.30%
0.7780 Average Against Euro € -0.54% -0.23% 4.04% 13.09%
76.8102 Average Against Yen ¥ 0.09% -0.02% -1.09% 0.06%
0.6480 Average Against Pound £ -0.49% -0.57% 1.26% 6.23%
0.9397 Average Against Franc -0.71% -0.49% 1.78% 16.29%
1.0108 Average Against Canadian -0.31% -0.77% -0.84% 3.31%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0383 Average Against Aussie -0.16% 0.64% 2.03% -2.25%
1.2853 Average Against Euro 0.55% 0.23% -3.88% -11.57%
0.0130 Average Against Yen -0.09% 0.02% 1.10% -0.06%
1.5431 Average Against Pound 0.49% 0.57% -1.25% -5.87%
1.0642 Average Against Franc 0.71% 0.49% -1.75% -14.01%
0.9893 Average Against Canadian 0.31% 0.78% 0.85% -3.20%

Intraday Dollar Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 1/18/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day Average
0.20% USD/JPY 76.81 76.77 76.76 -0.07% 76.780
0.32% EUR/USD 1.2825 1.2855 1.2859 0.27% 1.285
0.36% GBP/USD 1.5409 1.5433 1.5431 0.14% 1.542
-0.02% CAD/USD 1.0139 1.0118 1.0104 -0.35% 1.012
-0.02% USD/HKD 7.7613 7.7625 7.7641 0.04% 7.763
-0.06% AUD/USD 1.0394 1.0405 1.0395 0.01% 1.040
0.00% USD/CNY 6.3109 6.3109 6.313 0.03% 6.312

Cross Tables:

Survey 1 January 18 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1288 1.0381 0.9893 1.0641 1.5432 0.013 1.2854 -
EUR € 0.1002 0.8076 0.7696 0.8278 1.2006 0.0101 - 0.778
JPY ¥ 9.8871 79.6864 75.9386 81.6805 118.46 - 98.6674 76.7625
GBP £ 0.0835 0.6727 0.641 0.6895 - 0.0084 0.8329 0.648
CHF franc 0.121 0.9756 0.9297 - 1.4503 0.0122 1.208 0.9398
CAD 0.1302 1.0494 - 1.0756 1.5599 0.0132 1.2993 1.0109
AUD 0.1241 - 0.953 1.025 1.4866 0.0125 1.2382 0.9633
HKD 8.0596 7.6805 8.2613 11.9812 0.1011 9.9794 7.7639

One-Day Change:

Pos Means Top Currency Gained One Day Change January 18 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.000% -0.173% 0.325% 0.719% 0.495% 0.000% 0.563%
EUR € -0.595% -0.737% -0.246% 0.145% -0.058% -0.980% -0.550%
JPY ¥ 0.115% -0.047% 0.453% 0.843% 0.628% 0.690% 0.131%
GBP £ -0.477% -0.665% -0.187% 0.218% -1.176% 0.060% -0.491%
CHF -0.738% -0.884% -0.386% -0.213% -0.813% -0.149% -0.708%
CAD -0.306% -0.493% 0.392% 0.173% 0.000% 0.239% -0.316%
AUD $ 0.161% 0.506% 0.886% 0.677% 0.000% 0.740% 0.177%
HKD -0.162% 0.336% 0.728% 0.512% -0.197% 0.574% 0.015%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change January 18 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.08% 1.43% 0.57% -2.03% -1.31% 1.56% -4.32%
EUR 4.59% 6.01% 5.12% 2.40% 3.15% 6.32% 4.53%
JPY -1.47% -0.16% -1.01% -3.56% -2.86% -5.83% -1.57%
GBP 1.46% 2.78% 1.89% -0.73% 2.44% -3.06% 1.33%
CHF 2.11% 3.53% 2.65% 0.73% 3.39% -2.35% 2.07%
CAD -0.46% 0.87% -2.58% -1.87% 1.54% -4.87% -0.56%
AUD -1.27% -0.84% -3.41% -2.70% 0.00% -5.68% -1.41%
HKD 1.33% 0.47% -2.12% -1.40% 1.40% -4.42% -0.09%

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