YOUR PROFITS, OUR IDEAS

Mcx Free Tips provides you with the best mcx Intraday free tips in Indian commodity market.

MCX Commodity Services

Lost Money In Commodity Market? Don;t Panic, Come Join With Us to recover all your Commodity Market Losses.

MCX Gold and Silver Tips

This service pack is specially designed for traders, who are trading in MCX Bullion(Gold , silver) i.e. all the commodity bullion. Under this package the service would be provided via mobile by sms during the market hours. On an average 60-70 Calls would be given per month.

MCX ENERGY TIPS

This service pack is specially designed for traders, who are trading in MCX ENERGY (CRUDE OIL AND NATURAL GAS) i.e. all the ENERGY SCRIPS . Under this package the service would be provided via mobile by sms during the market hours. On an average 40-50 Calls would be given per month.

6 Sept 2013

Crude oil lower as U.S. jobs report lingers


                     Crude oil futures traded lower in the early part of Friday’s Asian session ahead of what some traders view as a critical U.S. non-farm payrolls report for August. 

On the New York Mercantile Exchange, light, sweet crude futures for October delivery fell 0.15% to USD108.21 per barrel on Asian trading Friday. The October contract settled higher by 1.06% at USD108.37 per barrel on Thursday. 

Better-than-expected economic indicators out of the manufacturing and labor markets bolstered demand for oil as well. 

In U.S. economic news out Thursday, the ADP National Employment Report showed the addition of 176,000 private sector jobs last month, but that missed the estimate calling for the addition of 180,000 new jobs. The July number was revised down to 198,000 from 200,000. 

The Labor Department said initial claims for jobless benefits fell by 9,000 last week to 323,000. The less volatile four-week moving average fell 3,000 to 328,500, the lowest reading since October 2007. The Labor Department releases the August jobs report Friday before the open of U.S. markets. 

The Institute for Supply Management said its August services purchasing managers index rose to 58.6% last month from 56.0% in July. That is good for the best reading since the index was created in 2008. Economists expected an August reading of 55%. The U.S. is the world’s largest oil consumer. 

Meanwhile, the Energy Information Administration reported that oil inventories fell by 1.84 million barrels to 360.2 million last week, more than market calls for a decline of 1.26 million barrels. That report was published a day later than usual because U.S. markets were closed for a public holiday Monday. 

Elsewhere, Brent for October delivery fell 0.17% to USD115.08 per barrel on the ICE Futures Exchange. - investing.com

Gold lower after strong U.S. data points



                     Gold futures traded lower in the early part of Friday’s Asian session as traders in the region digested some strong U.S. economic data points that could give the Federal Reserve room to imminently begin tapering its quantitative easing program. 

On the Comex division of the New York Mercantile Exchange, gold futures for October delivery fell 0.28% to USD1,368.80 per troy ounce in Asian trading Friday. The October contract settled lower by 1.22% at USD1,372.60 per ounce on Thursday. 

Gold futures were likely to find support at USD1,351.90 a troy ounce, the low from Aug. 20, and resistance at USD1,416.30, Tuesday's high. 

In U.S. economic news out Thursday, the ADP National Employment Report showed the addition of 176,000 private sector jobs last month, but that missed the estimate calling for the addition of 180,000 new jobs. The July number was revised down to 198,000 from 200,000. 

The Labor Department said initial claims for jobless benefits fell by 9,000 last week to 323,000. The less volatile four-week moving average fell 3,000 to 328,500, the lowest reading since October 2007. The Labor Department releases the August jobs report Friday before the open of U.S. markets. 

The Institute for Supply Management said its August services purchasing managers index rose to 58.6% last month from 56.0% in July. That is good for the best reading since the index was created in 2008. Economists expected an August reading of 55%. 

Those data points, particularly the ADP report and jobless claims could be a precursor to a strong August non-farm payroll report. Should the August jobs number surprise to the upside, many traders believe it is a foregone conclusion the Fed will begin tapering its asset-buying program before the end of September. 

Elsewhere, Comex silver for December delivery fell 0.15% to USD23.220 per ounce while copper for December delivery inched down 0.03% to USD3.245. - investing.com