Gold soars as weak U.S. jobs report cements calls for loose Fed policy
Gold prices soared on Tuesday after a disappointing U.S. September jobs report strengthened expectations for the Federal Reserve to put off plans to wind down stimulus programs probably until early 2014.
Stimulus tools often weaken the dollar to drive recovery, making gold an attractive hedge.
The dollar sank and gold soared after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.
Stimulus tools often weaken the dollar to drive recovery, making gold an attractive hedge.
The dollar sank and gold soared after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.
Crude prices drop on soft U.S. jobs report, supply data weigh
Oil prices fell on Tuesday after the U.S. September jobs report disappointed investors and painted a picture of a U.S. economy still battling headwinds along its road to recovery, one that may demand less fuel and energy than once anticipated.
Bearish inventory data released Monday pressured prices down as well.
Oil prices fell after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.
Bearish inventory data released Monday pressured prices down as well.
Oil prices fell after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.
Natural gas falls as stockpiles meet bearish expectations
Natural gas prices fell on Tuesday after official data revealed mild autumn weather in the U.S. cut into demand in recent weeks.
The U.S. Energy Information Administration said in its weekly report earlier that natural gas storage in the U.S. in the week ended Oct. 11 rose by 77 billion cubic feet, just below bearish forecasts for an increase of 80 billion cubic feet.
The U.S. Energy Information Administration said in its weekly report earlier that natural gas storage in the U.S. in the week ended Oct. 11 rose by 77 billion cubic feet, just below bearish forecasts for an increase of 80 billion cubic feet.
Inventories increased by 54 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a build of 75 billion cubic feet.
Total U.S. natural gas storage stood at 3.654 trillion cubic feet as of October 11.
Stocks were 115 billion cubic feet less than last year at this time and 57 billion cubic feet above the five-year average of 3.597 trillion cubic feet for this time of year.
Total U.S. natural gas storage stood at 3.654 trillion cubic feet as of October 11.
Stocks were 115 billion cubic feet less than last year at this time and 57 billion cubic feet above the five-year average of 3.597 trillion cubic feet for this time of year.
Economic Events:
Time
|
Cur.
|
Event
|
Forecast
|
Previous
|
14:00
|
GBP
|
MPC Meeting Minutes
| ||
16:30
|
USD
|
MBA Mortgage Applications (WoW)
|
0.30%
| |
18:00
|
USD
|
Import Price Index (MoM)
|
0.20%
|
0.00%
|
18:30
|
USD
|
House Price Index (MoM)
|
0.80%
|
1.00%
|
18:30
|
USD
|
House Price Index (YoY)
|
7.10%
|
8.80%
|
19:30
|
EUR
|
Consumer Confidence
|
-14.4
|
-14.9
|
19:30
|
USD
|
CB Employment Trends Index
|
113.5
| |
20:00
|
USD
|
Crude Oil Inventories
|
2.938M
|
3.999M
|
20:00
|
USD
|
EIA Weekly Distillates Stocks
|
-1.775M
|
-1.801M
|
20:00
|
USD
|
Gasoline Inventories
|
-0.250M
|
-2.570M
|
No comments:
Post a Comment