Commodities and Forex
Fundamental Analysis: Nov 12th 2012 by
MBCFX
- Financial markets moved sideways in Asian session as Japan’s GDP data contracted in 3Q12, overshadowing flexible Chinese data.
- Precious-Gold inched up on Today trading to $1735, after hitting three week high last week, in a thin trading amid the Veterans Day holiday and absence of fundamentals from major economies, ahead of Euro group finance minister’s meeting.
- While the U.S enjoys the Veteran Day holiday, crude oil is almost unchanged at $86.13 as sentiment is mixed after data showed Japan's economy shrank last quarter while exports in China increased at the fastest pace in five months in October.
- The Australian, Canadian, and New Zealand Dollars are outperforming this morning amid higher prices in precious metals, but European currencies remain steady, as neither data nor news out of the region has been particularly inspiring ,and a key Eurogroup meeting is in focus for today.
