We have updated our privacy policy and terms & conditions. Find out more here.
2
 

Commodities Soar During Second Half Of Last Week’s Trading Session

By  |  Market Overview  |  Nov 25, 2012 10:46AM GMT  |   Add a Comment
 
AA
+
-
The second half of last week saw a major upward movement for the leading commodities. Since risk-appetite returned to the markets, investors decided to buy into the most traded commodities. Gold futures climbed to the $1,752.05 level, an increase of $23.85. The crude binary option jumped 1.03% to $88.28. Other commodities made substantial gains as well. The advances were mainly due to positive data regarding German consumer sentiment, as well as to the anticipation of a solution to the economic woes in Greece.

The leading US stocks were bullish last week. The Dow Jones Industrial Average gained 172.79 points, an increase of 1.35%, bringing it to the 13,009.68 level. Binary options economists predict that Monday’s session will see a continuation of last week’s bullish behavior for commodities.

Unlike the strong stocks and commodities, the greenback performed bearishly last week. The euro and the pound made the most notable gains. Since the eurozone has been releasing a lot of positive data lately, the euro was favored by investors last week. Binary options traders chose to sell the USD as a result of the heightened optimism.

This week’s main events – Monday November 26 – Friday November 30:

Monday November 26:
All Day EUR Eurogroup Meetings – Eurogroup meetings are usually held in Brussels and attended by the Eurogroup President, Finance Ministers from euro area member states.

Tuesday November 27:
13:30 GMT USD Core Durable Goods Orders m/m Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items.

15:00 GMT USD CB Consumer Confidence – Level of a composite index based on surveyed households.

Wednesday November 28:
00:30 GMT AUD Construction Work Done q/q – Change in the total inflation-adjusted value of construction projects completed. This release gives insight into the GDP data which is released about a week later.

15:00 GMT USD New Home Sales – Annualized number of new single-family homes that were sold during the previous month. It's a leading indicator of economic health.

17:15 GMT CHF SNB Chairman Jordan Speaks – As head of the central bank, he has more influence over the nation's currency value than any other person.

23:50 GMT JPY Retail Sales y/y – Change in the total value of sales at the retail level. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

Thursday November 29:
Tentative EUR Italian 10-y Bond Auction – Average yield on 10-year bonds the government sold at auction, and the bid-to-cover ratio of the auction.

10:30 GMT GBP BOE Gov King Speaks – Due to hold a press conference about the Financial Stability Report, in London. More hawkish than expected = Good for currency.

13:30 GMT USD Prelim GDP q/q – The annualized change in the value of all goods and services produced by the economy. It's the broadest measure of economic activity and the primary gauge of the economy's health.

Friday November 30:
07:00 GMT EUR German Retail Sales m/m – Change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

13:30 GMT CAD Personal Spending m/m – Change in the inflation-adjusted value of all expenditures by consumers. Consumer spending accounts for a majority of overall economic activity. It's one of the most important gauges of economic health due to the vast ripple effect consumer buying creates in the economy.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

US 30
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg