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Oil price below $105

October crude oil fell $1.72, or 1.6%, to settle at $104.67 a barrel, its lowest close since August 21. The contract, which expired at the close of trade on the New York Mercantile Exchange, lost 3.3% for the week. The spread between Nymex WTI crude and Brent crude traded in London widened Friday. On ICE ...

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German Elections 2013

German Chancellor Angela Merkel’s center-right Christian Democratic Union was within striking distance of an absolute majority in Parliament after elections. FDP is Merkel’s current junior coalition partner and will probably stay out of parliament. The small party receives only 4.5% in exit polls, and the margin of error is small. ...

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USD/JPY Technical Analysis

Technical lines from top to bottom We begin with resistance at the round number of 104. This was a key line in May 2008. 102.50 was an important resistance line in late May. 101.44 was the post-crisis high seen in April 2009, and has not been tested since mid-July. 100.85 ...

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Gold-Weekly outlook

Gold futures rallied to an 11-week high on Friday, after disappointing U.S. new home sales data dampened speculation the Federal Reserve will begin to taper its bond-buying program as early as September. Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central ...

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EUR/USD higher on soft U.S. housing data

In trading on Friday, EUR/USD was up 0.32% at 1.3398, up from a session low of 1.3334 and off from a high of 1.3410. The pair was likely to find support at 1.3298, Thursday’s low, and resistance at 1.3452, Tuesday’s high. The Commerce Department reported earlier that new home sales ...

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Italy’s economy

Italy’s economy shrinks 0.2% in second quarter after a 0.6% contraction in first three months – economists had forecast a GDP fall of 0.4 to 0.5%

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US trade gap at narrowest since 2009

Oil imports decline and US businesses ship more goods overseas, pointing to stronger than initially expected growth in the April to June quarter

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Ice Swap Trade

Ice Swap Trade will trade credit derivatives linked to North American and European companies and countries

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Crédit Agricole

Crédit Agricole capital markets and investment banking unit posts a 23% rise in revenues during the second quarter

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Crude Oil Higher

Hedge funds increased bullish bets on WTI to the highest level since May 2011, according to the U.S. Commodity Futures Trading Commission.

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