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					   MTECHTIPS COMMODITY MARKET NEWS 2
MTECHTIPS:-Gold rises on fears of U.S. government shutdown

Gold futures traded slightly higher during Monday’s Asian session as traders
sought out traditional safe-haven plays on fears the U.S. government is headed
towards a potentially crippling shutdown. On the Comex division of the New
York Mercantile Exchange, gold futures for December delivery rose 0.06% to
USD1,340.00 per troy ounce in Asian trading Monday. The December contract
settled higher by 1.14% at USD1,339.20 per ounce last Friday. Last week, the
precious metal advanced 0.5%, the second consecutive weekly gain. Gold
futures were likely to find support at USD1,306.20 a troy ounce, the low from
September 24 and resistance at USD1,366.50, the high from September 20. On
Saturday, the Republican-controlled U.S. House of Representatives passed
legislation that would delay the implementation of Obamacare, President
Obama’s landmark health care package passed in 2010. The Republican measure
also seeks to strip out of Obamacare a controversial tax on medical device
manufacturers. However, Senate Majority Leader Harry Reid, a Nevada
Democrat, has promised his chamber will veto the House legislation. Reid has
been vocal in saying the Senate will not pass any budget stop-gap measure that
includes significant alterations to Obamacare. The specter of a government
shutdown sent U.S. stocks falling last week and S&P 500 futures are weak
during Monday’s Asian session, indicating markets do not favor a scenario
under which the government in the world’s largest economy is not at work. That
is also a scenario that risks not raising the U.S. debt ceiling.

MTECHTIPS:-Gold futures higher as U.S. government shutdown looms

Gold futures rose to a one-week high on Monday, as growing concerns over a
possible U.S. government shutdown boosted the safe haven appeal of the
precious metal. On the Comex division of the New York Mercantile Exchange,
gold futures for December delivery traded at USD1,342.50 a troy ounce during
European morning hours, up 0.25%. Gold prices rose by as much as 0.8% earlier
in the session to hit a daily high of USD1,350.30 a troy ounce, the strongest level
since September 20. The December contract ended 1.15% higher on Friday to
settle at USD1,339.20 a troy ounce. Gold futures were likely to find support at
USD1,306.20 a troy ounce, the low from September 24 and resistance at
USD1,366.50, the high from September 20. Appetite for safe-haven assets was
boosted amid concerns that political wrangling in Washington could lead to a
government shutdown and create a drag on fourth quarter economic
growth. Congress must pass a short-term budget by midnight on Monday in
order to avoid the first government shutdown in 17 years. Republican
opposition to the funding of the Affordable Care Act has created a standoff with
the White House and the Democratic-controlled Senate, which have both said
they will not support any budget bill that defunds or amends Obamacare. Later
this month, Congress will have to extend the U.S. debt ceiling which the U.S.
Treasury Department has estimated will be reached by October 17. Moody's
Investors Service warned that a failure to raise the debt limit would result in a
worse outcome for financial markets than a government shutdown. Hopes of
continued stimulus from the Federal Reserve also boosted sentiment on the
precious metal. Chicago Federal Reserve Bank President Charles Evans said on
Friday that there is a chance the central bank will not begin to taper its bond-
buying program until early 2014.

MTECHTIPS:-Oil tumbles as Chinese data disappoints

Oil futures traded sharply lower during Monday’s Asian session after a critical
economic data point out of China surprised to the downside. On the New York
Mercantile Exchange, light, sweet crude futures for November delivery slid
1.16% to USD101.68 per barrel in Asian trading Monday. The November
contract settled lower by 0.16% at USD102.87 per barrel last Friday. The
September reading of the China HSBC Purchasing Managers’ Index came in at
50.2, well below the flash reading of 51.2 and estimates calling for 51.2.
Readings above 50 indicate expansion. "The September HSBC China
Manufacturing PMI edged up slightly from August. New orders remained flat
from the previous month, while external demand improved,"said HSBC China
chief economist, Hongbin Qu, in a statement. "Manufacturers restocking
process continued but remained relatively slow. Growth is bottoming out on
Beijing’s mini-stimulus. We expect continuous policy efforts to sustain the
recovery." Output "expanded for the second successive month in September,
though the rate of growth slowed to a fractional pace. Furthermore, growth of
new work was unchanged from the previous month and only slight.
Nonetheless, new business from overseas increased for the first time in six
months (albeit marginally), with panellists citing stronger demand from client
bases in Europe and the US," according to HSBC.

MTECHTIPS:-Crude oil futures tumble to 3-month low on U.S., China concerns

Crude oil futures fell to a three-month low on Monday, as growing worries over
a looming U.S. government shutdown coupled with concerns over China’s
economic strength weighed on appetite for growth-linked assets. On the New
York Mercantile Exchange, light sweet crude futures for delivery in November
traded at USD101.65 a barrel during European morning trade, down 1.2%. New
York-traded oil futures fell by as much as 1.35% earlier in the session to hit a
daily low of USD101.47 a barrel, the weakest level since July 5. The November
contract settled down 0.15% at USD102.87 a barrel on Friday. Oil futures were
likely to find near-term support at USD100.90 a barrel, the low from July 5 and
resistance at USD103.77 a barrel, the high from September 27. Political
wrangling in Washington over funding for President Barack Obama’s healthcare
law continued over the weekend, fuelling fears over the prospect for a U.S.
government shutdown. Congress must pass a short-term budget by midnight on
Monday in order to keep the government open. Republican opposition to the
funding of the Affordable Care Act has created a standoff with the White House
and the Democratic-controlled Senate, which have both said they will not
support any budget bill that defunds or amends Obamacare.

MTECHTIPS:-Silver fluctuates amid U.S. budget uncertainty, Italy political woes

Silver futures swung between small gains and losses on Monday, as market
sentiment was hit amid growing fears over a possible U.S. government
shutdown and renewed concerns over political instability in Italy. On the Comex
division of the New York Mercantile Exchange, silver futures for December
delivery traded at USD21.87 a troy ounce during European morning trade, up
0.2%. Silver prices traded in a range between USD21.62 a troy ounce, the daily
low and a session high of USD22.10 a troy ounce. The December contract ended
up 0.3% on Friday to settle at USD21.83 a troy ounce. Silver prices were likely to
find support at USD21.22 a troy ounce, the low from September 18 and
resistance at USD23.07, the high from September 20. Political wrangling in
Washington over funding for President Barack Obama’s healthcare law
continued over the weekend, fuelling fears over the prospect for a U.S.
government shutdown. Congress must pass a short-term budget by midnight on
Monday in order to keep the government open. Republican opposition to the
funding of the Affordable Care Act has created a standoff with the White House
and the Democratic-controlled Senate, which have both said they will not
support any budget bill that defunds or amends Obamacare. Market sentiment
was also hit amid renewed concerns over political instability in Italy. The euro
came under pressure after Silvio Berlusconi announced Saturday that he was
pulling his ministers out of Prime Minister Enrico Letta’s coalition government
and called for fresh elections to be held.

MTECHTIPS:-Copper swings between gains and losses on U.S. budget fears,
China PMI

Copper futures fluctuated between modest gains and losses on Monday, as
investors digested disappointing manufacturing data out of China and as U.S.
budget concerns persisted. On the Comex division of the New York Mercantile
Exchange, copper futures for December delivery traded at USD3.332 a pound
during European morning trade, up 0.1%. Copper prices traded in a range
between USD3.294 a pound, the daily low and a session high of USD3.339 a
pound, the strongest since September 20. The December contract settled 0.7%
higher at USD3.329 a pound on Friday.Copper prices were likely to find support
at USD3.261 a pound, the low from September 26 and resistance at USD3.359 a
pound, the high from September 20. In China, data showed that the HSBC
manufacturing index was revised down to 50.2 from an initial reading of 51.2,
indicating the recovery in the world’s second largest economy remains fragile.
Economists had expected an unchanged reading. Copper traders consider shifts
in the HSBC PMI an indicator of China's copper demand, as the industrial metal
is widely used by the sector. The Asian nation is the world’s largest copper
consumer, accounting for almost 40% of world consumption last
year. Separately, political wrangling in Washington over funding for President
Barack Obama’s healthcare law continued over the weekend, fuelling fears over
the prospect for a government shutdown.

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Description: MTECHTIPS COMMODITY MARKET NEWS 2 MTECHTIPS:-Gold rises on fears of U.S. government shutdown Gold futures traded slightly higher during Monday’s Asian session as traders sought out traditional safe-haven plays on fears the U.S. government is headed towards a potentially crippling shutdown. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose 0.06% to USD1,340.00 per troy ounce in Asian trading Monday. The December contract settled higher by 1.14% at USD1,339.20 per ounce last Friday. Last week, the precious metal advanced 0.5%, the second consecutive weekly gain. Gold futures were likely to find support at USD1,306.20 a troy ounce, the low from September 24 and resistance at USD1,366.50, the high from September 20. On Saturday, the Republican-controlled U.S. House of Representatives passed legislation that would delay the implementation of Obamacare, President Obama’s landmark health care package passed in 2010. The Republican measure also seeks to strip out of Obamacare a controversial tax on medical device manufacturers. However, Senate Majority Leader Harry Reid, a Nevada Democrat, has promised his chamber will veto the House legislation. Reid has been vocal in saying the Senate will not pass any budget stop-gap measure that includes significant alterations to Obamacare. The specter of a government shutdown sent U.S. stocks falling last week and S&P 500 futures are weak during Monday’s Asian session, indicating markets do not favor a scenario under which the government in the world’s largest economy is not at work. That is also a scenario that risks not raising the U.S. debt ceiling. MTECHTIPS:-Gold futures higher as U.S. government shutdown looms Gold futures rose to a one-week high on Monday, as growing concerns over a possible U.S. government shutdown boosted the safe haven appeal of the precious metal. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1