WTI Crude Oil (USO, quote) spot price ticks slightly lower this morning as commodity traders have to wait an additional day for the department of energy’s inventory report. Traders will be watching closely the American Petroleum Institute (API) Weekly Crude Stock report scheduled for today after the close.
Yesterday, we took a look at how gold was trading after the World Gold Council’s Gold Demand Trend report was released ahead of the Federal Reserve minutes release at 2pm today.
Brazil Drought? Well, coffee bulls have not reacted as if there is a drought. U.S. coffee prices have continued to move lower for last two sessions, sending prices to a five week low.
U.S. equity markets remain subdued while U.S. dollar holds its ground on increasing tensions in Eastern Ukraine despite the upbeat Final Services PMI (55.0) and ISM Non-Manufacturing PMI (55.2).
It’s been a busy week in Emerging Markets and the Emerging Money Team has been busying bring cutting through call the chatter to bring to you what matters. Here is a quick wrap up to prepare for next week’s trading. Have great weekend until next week. Emerging Money Team
The U.S. dollar is in a holding pattern ahead of the Fed. In fact you can see the Fed effect in Aussie dollar/U.S. dollar pair (AUD/USD) for the past 5 sessions.