The strong commitment of the ECB's chief Mario Draghi, the euro zone gave investors renewed confidence. It also had an effect on the oil and copper prices. The prices climbed partly by over one percent.
Oil pump on an oil field in Oklahoma.
FrankfurtDas commitment of the ECB's chief Mario Draghi, the euro has given a boost on Thursday a number of commodities. The types of oil Brent and WTI prices rose by 1.4 percent to 105.80, or $ 90.18 per barrel. Copper traded one percent higher at $ 7,512 per tonne.
Saturday, July 28, 2012
Commodities: Copper and aluminum solid
London 07/27/12 - The industrial metals go into the weekend with gains. After a turbulent week in the markets, which ended with the release of the latest U.S. economic data, the prices are where the last week has ended.
Investors react today to the movement in the euro zone. Yesterday, ECB chief Mario Draghi had announced their intention as part of the mandate of the ECB do whatever is necessary to get the euro. Thus, Draghi has caught harsh criticism of the Bundesbank. However, should the now well below the support rocking EU members Italy and Spain through its bond purchases is an important step to convince market participants. The yields of Italy and Spain have now fallen significantly, while that of Germany attracted. Today also Angela Merkel and French President Francois Hollande in a joint press release have announced that they are determined to "do everything possible to protect the euro zone." Both countries had the integrity of the euro-zone deeply committed.
Such statements are the ones who were waiting for. Although the statements are little more than the mere expression of intention, however, governments have finally committed to the outside to take bigger risks in order to defend the interests of Europe. The threatened downgrade of Germany's top credit rating from Moody's is likely Merkel have facilitated such a move.
Investors react today to the movement in the euro zone. Yesterday, ECB chief Mario Draghi had announced their intention as part of the mandate of the ECB do whatever is necessary to get the euro. Thus, Draghi has caught harsh criticism of the Bundesbank. However, should the now well below the support rocking EU members Italy and Spain through its bond purchases is an important step to convince market participants. The yields of Italy and Spain have now fallen significantly, while that of Germany attracted. Today also Angela Merkel and French President Francois Hollande in a joint press release have announced that they are determined to "do everything possible to protect the euro zone." Both countries had the integrity of the euro-zone deeply committed.
Such statements are the ones who were waiting for. Although the statements are little more than the mere expression of intention, however, governments have finally committed to the outside to take bigger risks in order to defend the interests of Europe. The threatened downgrade of Germany's top credit rating from Moody's is likely Merkel have facilitated such a move.
Commodities: Wheat back more than 900 US dollars
Commodities in the evening: Wheat back more than 900 U.S. dollars
New York / Chicago / London - there on the commodities markets on Friday evening before a positive mood. Nymex traded on the New York U.S. light oil (August contract) is currently at $ 89.97 (+0.53 U.S. dollars). The August contract for a gallon of heating oil is traded in New York at $ 2.87 compared to the previous day 4 cents firmer. The August contract for a gallon of unleaded gasoline is trading at $ 2.85 5 cents firmer.
Invest now with products of Societe Generale in commodities.
The record for precious metals futures mixed. The price for one troy ounce of gold (August contract) become more expensive by 0.15 per cent to $ 1,617. The ounce of silver (August contract) traded 0.18 percent lower at $ 27.48. At the same ounce of platinum (August contract) at $ 1,408 (+0.27 percent) is traded.
The agricultural commodities tend to mix. The sugar futures (August contract) is trading at $ 22.40 per pound 0.42 percent weaker. The Future weaker for arabica coffee (August contract) traded at 173 cents per pound 0.46 percent. Cocoa (August contract) was last traded at $ 2,611 less per ton 2.45 per cent.
New York / Chicago / London - there on the commodities markets on Friday evening before a positive mood. Nymex traded on the New York U.S. light oil (August contract) is currently at $ 89.97 (+0.53 U.S. dollars). The August contract for a gallon of heating oil is traded in New York at $ 2.87 compared to the previous day 4 cents firmer. The August contract for a gallon of unleaded gasoline is trading at $ 2.85 5 cents firmer.
Invest now with products of Societe Generale in commodities.
The record for precious metals futures mixed. The price for one troy ounce of gold (August contract) become more expensive by 0.15 per cent to $ 1,617. The ounce of silver (August contract) traded 0.18 percent lower at $ 27.48. At the same ounce of platinum (August contract) at $ 1,408 (+0.27 percent) is traded.
The agricultural commodities tend to mix. The sugar futures (August contract) is trading at $ 22.40 per pound 0.42 percent weaker. The Future weaker for arabica coffee (August contract) traded at 173 cents per pound 0.46 percent. Cocoa (August contract) was last traded at $ 2,611 less per ton 2.45 per cent.
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