http://www.citypointtrading.com News From Citypoint Trading http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx EURUSD: 1.4287 | GBPUSD: 1.6040 | USDJPY: 80.43 | USDCHF: 0.8419 | NZDUSD: 0.8163 | Crude Q1: 94.00 | Silver: 36.18 | Gold: 1544.80 Following the Federal Reserve’s rate decision and then Ben Bernanke’s speech on monetary policy we saw the dollar gain, whilst stock markets slid and commodities declined. The greenback strengthened against the yen and euro, Asian stocks fell for the first time in three days while oil and metals led commodities lower after the Federal Reserve cut the centre of its forecast range for 2011 growth from 3.2 to 2.8 per cent. It also trimmed its 2012 forecast from 3.85 to 3.5 per cent. The Fed reiterated a pledge to keep interest rates at a near zero level and said it will complete a $600 billion bond purchase program as scheduled this month, with Chairman Ben S. Bernanke highlighting the fact that the recovery is progressing “more slowly” than expected. The commodity markets have come off slightly overnight, Crude for delivery in August pulling back to $94 a barrel. Whilst Gold and Silver have declined to $1544.80 and $36.18 respectively with the main driver being the fed’s announcement last night. The Dollar Index, which tracks the U.S. currency against those of six major trading partners, climbed 0.2 percent last night, extending a 0.6 percent jump yesterday. U.S. stocks halted four days of gains yesterday, sending the S&P 500 down by 0.7 percent. S&P 500 September 1276.9 | Dow Jones September 12012| Nasdaq 100 September 2223.0 The lack of clarity surrounding the ‘Credit Default Swap’ (CDS) market in Greece continues and is likely to continue. Driving the markets today… PMI figures from Germany and the EU will lead the way followed by Mortgage Approvals from the British Bankers’ Association (BBA). This afternoon we have Trichet speaking, and then from across the Atlantic jobless figures followed by new home sales. Elsewhere in the markets, European leaders will hold a two-day summit in Brussels from today to discuss Greece’s financing needs amid efforts by the nation to stave off default. Out already today – China’s Manufacturing PMI came out slightly lower than anticipated at 50.1 whilst Switzerland’s trade balance was significantly higher at 3.306B! Thu, 23 Jun 2011 07:56:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12:47Am: EURUSD: 1.4383 | GBPUSD: 1.6126 | USDJPY: 80.20 | USDCHF: 0.8416 | NZDUSD: 0.8157 | Crude Q1: 93.82 | Silver: 36.11 | Gold: 1544.60 In the minutes from the Bank of England's Monetary Policy Committee (MPC) published today the committee said current weakness of demand growth is likely to persist for longer than was previously speculation. The minute’s state: "Moreover, the fiscal challenges in the euro-area periphery highlighted the potential for further adverse shocks to demand."While the majority of the MPC voted in favour of keeping the base rate, two voted for the bank rate to be increased by 25 basis points. This led to a sharp drop in Cable this stabilised at around 1.612. Euro zone industrial new orders rose less than expected in April, data showed, pointing to slower economic growth in the second quarter, but economists said it was unlikely to stop the next ECB interest rate rise, data from Euro stat showed growth 0.7% in April, after falling 1.5 % in March. But the monthly increase was smaller than the 1% forecast this has added to increased volatility in the Euro. German Chancellor Angela Merkel is warning that a full-scale restructuring of Greek debt would have “completely uncontrollable “consequences on the financial markets. Merkel said this morning that imposing a so-called haircut on Greek debt reducing the amount to be repaid would not only endanger banks and other creditors who hold Greek bonds, but also institutions that sold insurance policies against a default. Merkel also stated that those credit default swaps have a higher face value than the debt itself. She says “nobody around the globe knows exactly who holds those papers, which will have to pay how much.”Most European indices down today with only the German Dax up +.22%, US indices are also seeing drops with the Dow Jones down -.15%. In other news, MBA’s weekly mortgage-applications survey came out at -5.9% showing a drop in buying in the US housing market which due to signs of slower US economy. Other announcements to keep an eye on this afternoon are Euro Consumer Confidence and from the states US House Price Index which is predicted to -0.3% and FOMC rate decision which is predicted at 0.25%. Wed, 22 Jun 2011 13:00:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4412 | GBPUSD: 1.6247 | USDJPY: 80.24 | USDCHF: 0.8417 | NZDUSD: 0.8131 | Crude Q1: 93.68 | Silver: 36.36 | Gold: 1545.75 Throughout the European and US sessions, stocks moved higher on expectations that the Prime Minister of Greece, George Papandreou would win a confidence vote. The FTSE 100 closed up nearly 1.44% at 5775.31 and the Down Jones up 0.91% at 12190.01. Papandreou secured the necessary majority with 155 out of 300 votes, thus paving the way for the necessary austerity measures to be passed in parliament next week to ensure the next tranche of aid in July, to ensure the country stays afloat. The lack of clarity surrounding the ‘Credit Default Swap’ (CDS) market in Greece, and the definition of ‘default’ was illustrated yesterday as Spain paid a higher premium to borrow €2.99bn (£2.56bn) over 3 and 6 months due to investor uncertainty. On confirmation of the vote of confidence for Papandreou Asian stocks advanced for the second day, as the risk of a default fell. The MSCI Asia Pacific Index is currently up over 1%, extending the previous session’s rally of 1.4%, these back to back gains, come after 3 month low. The Nikkei 225 closed up 1.79% at 9629.43 and the Hang Seng Index is currently up 0.55% at 21975.94. The key event this morning is the release of the UK Bank of England minutes, detailing the rhetoric at the previous MPC meeting. Traders will be looking closely to see if there is a discussion of another round of quantitative easing (QE) or if they signal for interest rate rise in the near future. There is potential for a large amount of volatility on release at 9.30am, as investors digest the release. The commodity markets have been relatively flat over night with Silver and Crude for delivery in August stuck in a tight range. Silver hovering below the $36.40 mark and Crude Q1 between $93.50 and $94 a barrel, though a significant change in Greece that throws uncertainty over the bailout, could investors move away from riskier assets and head towards safe havens. Announcements this morning to be aware of are, as already noted the BoE minutes, at 10 we have ‘Industrial New Orders’ from the Euro-Zone, and at 12 we have the MBA mortgage applications from the US, for further details please see the economic calendar. Just out (7.45am) we had a surprising improvement in French Business Confidence Indicator came in at 109 compared to the expected 106. Wed, 22 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.45am: EURUSD: 1.4368 | GBPUSD: 1.6199 | USDJPY: 80.18 | USDCHF: 0.8439 | NZDUSD: 0.8123 Crude Q1: 94.45 | Silver: 36.19 | Gold: 1543.90 Key figures from the morning announcements were Zew surveys from Germany and the EU. These figures turned out weaker at -9.0 and -5.9 respectively this was blamed on the Greek debt concerns. The indicator for the Euro zone’s strongest economy Germany came out today at -9.0, the forecasted value was -1.5, the outcome indicated a drop of 12.1 points compare to the May value of 3.1. The current reading is well below the indicator’s average value of 26.3 points. The decline spurred pessimism in the markets and especially across the single currency community. However hopes for a Greece deal are looking likely which have bolstered risk assets as Greece looks like it can avoid a forced default. Upon the announcement of the news the single currency slipped against the US Dollar losing some 37 pips to touch a session low of 1.4314. At the 1.4300 area Euro looks well supported versus the Dollar, however, the markets are wondering whether the Greek PM will receive a vote of confidence later today from the Greek Parliament in one of the most crucial sessions in the country’s modern history in order to forecast future moves. The EURUSD pair is now trading at 1.4320 on nervous trading. Public sector net borrowing fell last month to £15.156bn from £16.463bn a year ago, just below forecasts in a Reuter’s poll of £15.75bn. The narrowing in May compared with a year earlier was largely due to a rise in indirect taxes such as January's increase in VAT, the Office for National Statistics said on Tuesday. Market shaker Federal Reserve Chairman Ben S. Bernanke is planning to delay the central bank’s exit from record stimulus. 78% of economists expect Bernanke to sustain the Fed balance sheet at current levels until October or even later. The announcements to watch out for this afternoon from Canada are the Leading Indicators and Retail Sales early indicators on the Loonie later in the day we will be looking at the existing home sales from the US which give us a good indicator on the Housing Market. Tue, 21 Jun 2011 12:46:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx 21st June Morning Update Current Prices as of 7.45am: EURUSD: 1.4367 | GBPUSD: 1.6235 | USDJPY: 80.15 | USDCHF: 0.8431 | NZDUSD: 0.8124 Crude Q1: 94.22 | Silver: 36.17 | Gold: 1543.30 There are two words on every traders mind this morning ‘Greece’ and ‘bailout’, as the developments in Athens are the catalyst for a potential credit event and contagion throughout the Euro-Zone. The potential fallout from this has been compared to the collapse of Lehman Brothers and the impact this had throughout the financial system. The Euro-Zone leaders held off on making a decision yesterday, as speculation increases over whether the Greek parliament will be able to pass the necessary austerity measures needed amidst growing political and social turmoil. There is considerable confusion surrounding the Credit Default Swap market, as to what would determine a ‘credit event,’ this has led to considerable volatility, with Greek 2-yr CDS reaching 2000 bases points, which means for every €5m of debt it costs €1m to insure. This illustrates the uncertainty hanging over Athens, and the markets view of the indebted country. Asian stocks broke their four-day slump, the MSCI Asia Pacific Index has so far rallied 1.2%, after Juncker (Head of Euro-region finance ministers group) said that that the Greek Prime Minister Papandreou had ‘assured him the government would do everything to ensure financial aid before a confidence vote today. European futures are pointing to a hirer open, and commodities have rebounded, Crude at $94.23 a barrel and Silver $36.21. In a show of confidence for Asia the Swiss banking giant UBS, has hired over 1,000 new employees for its investment banking division in China. The Reserve Bank of Australia minutes showed that those on the Australian committee decided in wake of the European crisis it was “prudent” to keep borrowing costs unchanged. The RBA said it will have to continue to weigh Europe’s sovereign debt crisis against their domestic growth and inflation. The economic releases to be aware of are this morning are; 09.30am: UK Public Sector Net Borrowing (Jun) – Exp: 16.5B Prev: 7.7B 10.00am: Euro-Zone ZEW Survey (Econ. Sentiment) (Jun)- Exp: 6.1 Prev: 13.6 10.00am: German ZEW Survey (Econ. Sentiment) (Jun)- Exp: -3.0 Prev: 3.1 11.00am: UK CBI Trends Total Orders (Jun) – Exp: -5 Prev: -2 11.00am: UK CBI Trends Selling Prices (Jun) – Exp: 26 Prev: 24 Tue, 21 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.10pm: EURUSD: 1.4220 | GBPUSD: 1.6165 | USDJPY: 80.31 | USDCHF: 0.8471 | NZDUSD: 0.8049 | Crude Q1: 92.90 | Silver: 35.52 | Gold: 1536.70 This morning with fundamentals few and far between, the main focus for investors is once again Greece, with Europe so far unable failing to agree on the Greek aid pay out. In Luxembourg top EU policy makers are pushing Greece to pass laws to the cut the deficit and sell state assets also leaving open whether the country will get the full $17.1 Billion promised for July. Luxembourg Finance Ministry stated “That Greeks have to bring their austerity measures and their privatisation package and they have to implement those measures,” and “Only if those conditions are fulfilled, we can pay out the next tranche and at the same time look for a possible second program to support Greece.” This has seen indices throughout the Euro-Zone move considerably lower, with the FTSE 100 down 0.73% at 5673.50 and the CAC 40 down 1.21% at 3777.63. As the fear of contagion is hanging over traders and the outcomes in Luxembourg are watched with anticipation. In the commodity markets we have seen Oil drop to a four-month low, bringing the decline from this year’s peak to 20%. Fuel demand has reduced with a weakening global economy and Greece’s continuing debt crisis. Silver has been relatively flat throughout the morning, trading within a tight range and currently sitting on the $35.55 level. This morning we saw a delay in the opening time of NYSE Euronext to 9am GMT due to technical issue that caused computer malfunctions that delayed trading the issue has now been resolved. Cable has continued its run against the pound dropping from$1.64 to $1.60 in the open currently we are waiting to see if it will break and hold above the $1.62 level as it has been floating around $1.6175. Mon, 20 Jun 2011 12:10:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4200 | GBPUSD: 1.6114 | USDJPY: 80.14 | USDCHF: 0.8496 | NZDUSD: 0.8064 | Crude Q1: 91.60 | Silver: 35.62 | Gold: 1536.40 The week begins with traders from around the world, following the developments in Luxembourg with a microscope. The Euro-zone ministers meet for the second day with the newly elected Greek finance minister Evangelos Venizelos, to come to an agreement on Greek aid. Mr Venizelos addressed Greek television and stated that he would take ‘personal responsibility for the privatisation programme (sale of state assets, increased sales tax and government department job cuts), which is supposed to raise €50bn in by 2015.’ The IMF is set to give out €12bn in aid that would prevent Athens from defaulting on its payment in mid-July, however this will only occur if the George Papandreou is able to able to break the deadlock between his socialist party and the opposition to push through the necessary austerity measures. The social unrest in Athens combined with the opposition party trying to stop the austerity measures, speculation over whether the Greek parliament will be able to come to an agreement and implement the measures to cut the mounting debt and appease the world’s financial community. The Asian markets slid in the opening session of the week with the MSCI Asia Pacific index, down 0.6%, and headed for its lowest close in 3 months. WTI Crude fell 1.5% and has settled above $92 a barrel, on concerns of contagion throughout the Euro-Zone. An interesting article in this morning’s Financial times (London) focuses on the recent boom in rare earth commodity prices, with a supply restriction from China who supply over 90% of the world’s supply there has been an increase in speculators profiting from the reason boom. An example of the recent unsustainable price rise is Europium oxide, used in LCD screens has jumped 180% in just 3 weeks. Analysts have detailed that a crackdown in illegal mines in China, and rapid stockpiling have led to a bubble in short term pricing which they have stated to be unsustainable as ‘..no end use can stand that price’ said by one European trader. – Financial Times Economic releases are thin on the ground to start the week so the markets will be driven by any developments in Luxembourg regarding an agreement the bailout for Athens. Mon, 20 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.05pm: EURUSD: 1.4284 | GBPUSD: 1.6182 | USDJPY: 80.25 | USDCHF: 0.8481 | NZDUSD: 0.8075 Crude N1: 93.93 | Silver: 35.39 | Gold: 1528.10 Crude prices fell sharply this morning amid further worries about Greece however there has been considerable volatility as different people have been expressing differing opinions about the possibility of a bailout. There has been many conflicting reports this morning however it appears President Sarkozy and Angela Merkel have agreed a Vienna-style roll-over of Greek debt. The Euro has been volatile on the back of these discussions and is now up over 0.5%.The FTSE 100 is down almost 0.5% this morning however the DAX and CAC are up about 0.85%. Silver is down about -0.4% while gold is down -0.1%. The Euro-zone trade balance came out lower than the expected -2.0B at -2.9B and the previous figure was revised down from -0.9B to -2.2B. Later on today we have the University of Michigan Confidence figure which is expected to rise from 72.4 to 74.2. There is not much macroeconomic data releases today so the on-going talks about a Greek bailout will be at the forefront of most traders attention. If any positive resolution is created Wall Street may be able to put an end to a string of weekly losses. Fri, 17 Jun 2011 12:02:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4161 | GBPUSD: 1.6113 | USDJPY: 80.56 | USDCHF: 0.8502 | NZDUSD: 0.8029 Crude N1: 94.32 | Silver: 35.36 | Gold: 1526.75 The worlds financial markets are focused on the outcome of the 2nd Greek bailout, with each development from Athens, traders have reacted by returning to riskier assets or flocking to safe havens. With the picture unclear of this Greek saga will end, rumours and contradictions are rife. This has led to considerable movement throughout the week and it is likely that today will be the same. The German Chancellor Angela Merkel and French President Nicolas Sarkozy will meet today to discuss a rescue package for Greece. With a default being sighted as near certain, during Thursdays trading the 2-year Greek yields spiked to over 30%, illustrating market sentiment towards the indebted country. George Papandreou has to push through €78bn package, a mix of asset sales and reforms to secure funding from the IMF. The IMF is ready to inject €12bn of emergency funding to the indebted nation, yet this is dependent on the Greek government being able to pass the fiscal austerity proposals through parliament. With social and political chaos in Athens, the unease in the market has been felt, with the euro pulling back against the greenback to a 1.40 handle in US trading. The most recent event is a confirmation this morning (7.40am) within the Greek cabinet reshuffle the new finance minister is Evangelos Venizelos. Asian stocks are headed for a 7th week of losses, which is the longest slump since 2004. The MSCI Asia pacific retreated 0.7%, extending the weekly fall to 2.3%. With relatively few economic releases to end the week, the markets will be driven by investors’ appetite for risk and any further developments from the Euro-Zone. Fri, 17 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.00pm: EURUSD: 1.4116 | GBPUSD: 1.6129 | USDJPY: 80.71 | USDCHF: 0.8490 | NZDUSD: 0.8003 Crude N1: 95.36 | Silver: 35.48 | Gold: 1526.05 European equity indices are down sharply this morning as the Greek sovereign debt crisis deepens. The FTSE and CAC are down over 1% with the DAX close behind. Crude has been more or less flat this morning after taking a hammering yesterday afternoon. Silver is down -0.8%% this morning while gold is down -0.3%. The US Dollar has strengthened against most of the major currencies with the Euro, Sterling, Aussie, Kiwi and Loonie all falling however the Yen has bucked the trend and gained about 0.3%. The Greek prime minister has announced that he will reveal a new cabinet today and seek a vote of confidence on Sunday. The International Energy Agency has called on OPEC to increase supply to meet peak northern hemisphere demand this summer. A shortage of oil could send prices higher at a time when prices are already overheating. The Irish Finance Minister has come out saying he thinks senior bond holders should share in the losses of Anglo Irish bank. This is against the view of the ECB, Trichet believes that haircuts should not be used to reduce Ireland’s debt load. UK retail sales came out this morning worse than expected with the year on year figure coming in at 0.2% compared to a predicted 1.5% and a previous 2.8%. This is disappointing news for the UK economy and suggests consumers are still reluctant to spend money on the high street. The overall fall was driven largely by a huge drop in shops selling food. Euro-zone CPI YoY came in as expected at 2.7%. This afternoon we have a couple of important figures from the US. We have building permits which are expected to come in similar to the previous figure at 0.55M. We also have Initial jobless Claims which are expected to come in at 421K, slightly down from the previous figure of 427K. We also have the US current account and Housing starts figures. Later in the day we have the EIA Natural Gas inventories which are expected to come in at 65B, down from the previous level of 80B. Thu, 16 Jun 2011 12:00:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 8.00am: EURUSD: 1.4138 | GBPUSD: 1.6164 | USDJPY: 80.74 | USDCHF: 0.8511 | NZDUSD: 0.8028 Crude N1: 95.16 | Silver: 35.48 | Gold: 1527.90 Protestors took to the streets in Athens on Wednesday to vent their anger at the government, as the Prime Minister George Papandreou offered his resignation, and tried to form a cross-party government coalition to implement further austerity measures. The coalition talks broke down and have left investors around the world firmly fixed on the Greek situation as a signal for potential contagion throughout the Euro-Zone. These escalating worries and uncertainty has sent the euro tumbling lower, currently sitting just above the 1.4100 handle, down from highs yesterday of 1.4450, with an equally strong sell-off in the commodity markets. WTI Crude for July delivery tumbled from highs of near the psychological $100 a barrel, to touching the $94 a barrel in late US trading, and settling this morning just above $95 a barrel. The fragility of the UK economy cannot go unmentioned after the release of employment figures on Wednesday, stating a decrease in unemployment of 88,000 to 2.43m, with a mixed outlook due to an increase in the amount of claimants of jobseekers allowance. On the back of this release sterling headed lower against the greenback settling at around the 1.6450 level this morning. For furtherer direction sterling will look towards UK Retail Sales out at 9.30am. Weighing heavily on the European banks, was the release from Moody’s Investor Service, that due to exposure from Greek sovereign debt they were cutting the credit rating of 3 of France’s largest banks (BNP Paribas, Société Générale and Crédit Agricole). This sparked fears of further contagion throughout the global banks, as uncertainty surrounds how exposed many institutions are sending equities lower. On Wednesday evening the City of London’s financial elite were at Mansion House, with key note speeches from George Osborne and Mervyn King, the markets watched in anticipation for any potential signal for the upcoming changes to UK Plc. George Osborne announced that the government would be selling the nationalised Northern Rock, hoping to raise around £1bn repaying much of what the UK taxpayer lent for the bailout. In a vote of confidence for Osborne, King stated that there was no need for a ‘plan b’ as it would be detrimental to the economic recovery, he continued on to voice that an interest rate rise by the BoE will be needed in the future to curb inflation but no time frame was given. Overnight Asian stocks fell, with the MSCI Asia Pacific Index falling 2.1% and before close was set for its steepest loss since May 23rd. This was in part due to Het Financieele Dagblad who cited ECB Governing Council Member Nout Wellink as saying the emergency fund for Euro-Zone countries should be doubled. Economic releases to be aware of this morning EU CPI & employment at 10am, with Employment & Housing Starts from the US at 13.30pm. Thu, 16 Jun 2011 08:00:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.00pm: EURUSD: 1.4299 | GBPUSD: 1.6257 | USDJPY: 80.69 | USDCHF: 0.8503 | NZDUSD: 0.8133 | Crude N1: 98.91 Silver: 35.24 | Gold: 1519.30 The current deadlock in the ECB over the decision to provide a further bailout to Greece is weighing heavily on the markets especially the Euro which is down -0.87%. There is now talk of Greece reverting to the Drachma and being unable to access world credit markets. Equity indices are in the red this morning as well as Crude, Silver and Gold. This comes after a rally in risk assets yesterday as traders became more positive on the US and Chinese economies, however the more optimistic outlook faltered today as investors seek further support for prospects of economic growth. UK unemployment figures came out this morning and were disappointing with jobless claims increasing by 19.6K compared to an expected figure of only 7.1K and a revised previous figure of 16.9K from 12.4K. Sterling saw a sharp sell off after this and fell almost 80 cents. Euro-zone Industrial Production came out at 0.2% which is slightly better than the expected -0.1% and previous fall of -0.2%. This had little positive effect on the Euro however which has continued to tumble since yesterday afternoon. US MBA mortgages came in at 13% which is a big improvement over the previous figure of -0.4%. This afternoon we have a number of figures from the US. We have the US CPI figure which is expected to remain at 0.2%. We also have a number of industrial and manufacturing figures which will provide an insight into the US economy. We also have Crude Oil Inventories which are expected in at -0.9M from a previous -4.8M. Wed, 15 Jun 2011 12:03:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4385 | GBPUSD: 1.6340 | USDJPY: 80.49 | USDCHF: 0.8875 | NZDUSD: 0.8141 | Crude N1: 98.70 Silver: 35.30 | Gold: 1522.55 The Euro has continued to fall against the dollar since midday from the US session as EU officials struggle to break the deadlock over a 2nd Greek restructuring and the involvement of private investors. This trend has continued this morning as it has been under considerable pressure due to ECB officials being unable to state any concrete agreements leading to unease for investors holding the euro. Until a solution is agreed, as risk appetite swings so will the strength of the euro and any safe haven flows. The commodity-linked currencies advanced throughout Tuesday on the back of Chinese economic releases. The data eased fears over a slowdown in demand with robust retail sales remaining in May, and inflation data came in lower than had been feared. Within hours of the release of Chinese CPI at 5.5%, the Peoples Bank of China announce a 50bp rise in its reserve ratio requirements, the 6th consecutive rise this year. The Aussie rallied to 1.0715 on a mixture of the positive Chinese data and the RBA governor Glenn Stevens stating that policy makers will need to raise interest rates at some stage. One of the world’s largest commodity houses, which recently floated; Glencore has warned of a slowdown in demand for commodities from China and the US. This sent its shares tumbling to their lowest price since its IPO at 500p. A significant jump in the UK Nationwide Consumer Confidence, beating expectations of 45 coming in at 55, and a revision up of the previous from 43 to 44. For the UK we have employment figures out at 9.30am, these will be closely watched as a gauge of the health in the fragile UK economy. Please be aware that this evening it is understood that George Osborne in his Mansion house speech will endorse plans to revolutionise UK banking and ‘ring-fence’ essential parts of banking such as deposit-taking and payments systems. This comes ahead of Sir John Vickers Independent Commission on Banking, which is looking to protect the economy from the big banks which are ‘too big to fail.’ Wed, 15 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 1.00 pm: EURUSD: 1.4450 | GBPUSD: 1.6402 | USDJPY: 80.26 | USDCHF: 0.8386 | NZDUSD: 0.8183 | Crude N1: 96.90 | Silver: 34.70 | Gold: 1518.15 The main equity indices are all up this morning with the DAX up 1.47% to 7197 and CAC40 up 1% to 3844.50. This follows a range of positive data from China overnight which suggests the second largest economy is coping well with attempts to slow down inflation. Crude prices have fallen further today, adding to losses from yesterday. In other news the IMF board has blocked Stanley Fischer’s application to run the organisation because he is over the age limit. Glencore has reported a 47 per cent rise in net profit in the first quarter compared to a year earlier. This morning we have seen a few big figures from the UK. Inflation figures came out in line with expectations at 4.5% for CPI (YoY) and 5.2% for RPI (YoY). The DCLG House price index also showed that house prices have fallen slightly more than expected. Later on this afternoon we have the US retail sales (MoM) figure which is expected to fall -0.3% compared to a previous rise of half a per cent. The US PPI figure is expected to show that selling prices have risen 0.1% compared to 0.8% in the previous month. US business Inventories are expected to rise 0.9% compared to a previous rise of 1%. Tue, 14 Jun 2011 13:00:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4430 | GBPUSD: 1.6412 | USDJPY: 80.29 | USDCHF: 0.8375 | NZDUSD: 0.8172 | Crude N1: 97.32 | Silver: 35.08 | Gold: 1521.50 Standard & Poor’s branded Greece with the world’s lowest credit rating, below Ecuador, Jamaica, Pakistan and Grenada. They stated the nation is “increasingly likely” to face a debt restructuring, being the first in the euro areas history. The move was to CCC from B reflects their view of significance of the situation, and the likely hood that the agency will downgrade Athens to default (D). The Greek 10-year bond yields moved to the 17% level for the 2nd time this year, with Portuguese and Irish 10-year bonds close to euro-era highs at both over 10%. Through the Asian session stocks rose with the regions benchmark set for its strongest rally in 2 weeks, WTI Crude for July delivery recovered from some of its near $4 dollar losses from the European session to settle closer to $97.50 a barrel. The Swiss Franc demand was driven to a record against the euro as investors scrambled for safe havens, with the franc up 0.7% against the Dollar to 0.8375. With economic data from the UK, we had the RICS House Price Balance falling a disappointing -28% vs expectations of -20% and previous of -21%. With inflation data this morning at 9.30am for the UK and rumours of exceptional improvements in tomorrow mornings UK employment releases the direction for Sterling will be decided over the next 26 hours. The FSA released a statement that the level of suspicious pre-deal trades ahead of UK mergers and acquisitions, fell sharply last year, to the lowest level since 2003. With recent high profile cases for insider-dealing and a push in detection levels, it is a good sign for the for the UK capital markets, with the US authorities following similar action. Today is the 6th month anniversary from when S&P published a note regarding a potential Belgium downgrade within 6 months if it was unable to form a government. Tue, 14 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.15pm: EURUSD: 1.4386 | GBPUSD: 1.6313 | Crude N1: 98.24 | Silver: 35.61 | Gold: 1527.20 The European Central Bank and Germany are in a confrontation over whether to bailout Greece it is likely that they may be forced to compromise. The ECB President Trichet and German Finance Minister Woflgang are at odds over the investors’ role in the second Greek rescue in 14 months. The dispute comes down to if politicians are to make a good promise to push creditors to pay some of the cost, a step that Trichet sees this as huge mistake. We have seen Crude Futures drop $1 today with lows for July delivery at $97.81, as Saudi Arabia announced last week to provide an adequate oil supply after OPEC meetings and reports that may show slowing economic growth in the U.S. and China, thus curbing fuel demand in the world’s two largest fuel consumers. Italian macroeconomic releases, Italian industrial production was expected to fall from 0.4% to 0.2% however it actually rose by 1% (MoM). UK inflation data is the one to watch out for tomorrow which will be watched closely as public satisfaction with Bank of England has declined which will cause inflation to rise further. Mon, 13 Jun 2011 12:15:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.25am: EURUSD: 1.4339 | GBPUSD: 1.6233 | Crude N1: 98.73 | Silver: 35.88 | Gold: 1530.10 For the 4th session in a row Asian stocks have fallen amid concerns that the global economic recovery is slowing. The Kiwi is down over 1% to 0.8130 after Christchurch was hit by a series of earthquakes. Gold and silver are also down slightly with silver down -0.85%. Crude prices have also dropped just over 0.5%. Some of the biggest banks in the US are considering cutting their use of US T-bills amid fears that the government may fail to increase the US debt ceiling. Figures show that China’s lending fell sharply in May as well as money supply growing at its slowest rate since 2008. These are both signs that the second largest economy in the world is slowing. Yields on bonds of Middle east nations have fallen to their lowest levels in seven months as concerns over political instability are easing. The bank of Israel governor Stanley Fischer has also put his name in the ring for the IMF managing director position. Today we have very few macroeconomic releases, the only one of note is Italian industrial production which is expected to fall from 0.4% to 0.2% (MoM). Looking forward to the rest of the week we have UK inflation data out tomorrow which will be closely looked at as pressure may be mounting for a rate rise. Mon, 13 Jun 2011 07:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.25pm: EURUSD: 1.4462 | GBPUSD: 1.6305 | Crude N1: 100.93 | Silver: 37.32 | Gold: 1540.40 Equity indices are down this morning after a mixture of last night’s disappointing Chinese data and this morning’s disappointing UK data. WTI crude is down 1% to $101 after recent gains after the OPEC meeting. Canadian unemployment unexpectedly dropped to 7.4% from 7.6% which caused a rally in the Loony against the dollar to a high of almost CAD$1.03. In the news today the German government has reiterated it will not back down in its standoff with the ECB over the involvement of owners of Greek sovereign bonds in a new round of aid for Greece. Toyota has forecasted a 31% fall in profits after the earthquake in Japan and a strong Yen hampering business. UK industrial production fell -1.7% while it was expected to increase 0.1%, manufacturing production also fell -1.5% and was expected to come in at 0%. These disappointing figures have weighed on expectations of an early rate rise and Sterling has fallen 0.38% to 1.6305. This afternoon we have the US import price index which is expected to drop -0.6% from a previous rise of 2.2%. Fri, 10 Jun 2011 12:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.10am: EURUSD: 1.4487 | GBPUSD: 1.6312 | Crude: 101.59 | Silver: 37.30 | Gold: 1541.00 Overnight Asian stocks fell as Chinese trade surplus came in softer than expected. Analysts expected the figure to be between $18-20B however it came out at a disappointing $13.05B. It appears that Christine Lagarde is the most likely contender to become head of the IMF, she is currently campaigning in China and India. Overnight the South Korean central bank announced a surprise hike in rates from 3% to 3.25 as job growth and higher energy prices high inflation. Colonel Qaddafi’s son has approached rebel leaders in an effort to arrange an exit from power for his father. The removal of Qaddafi may lead to a more stable area and the return of Libya’s oil production. A survey of 67 economists asked last week predicts that the US economy will expand at a rate of 3.2% from July through December. It is believed that rising exports, relaxed lending rules, stable fuel prices and a surplus of cash in many companies will be enough to overcome recent natural disasters such as the Japanese earthquake and the recent bad weather in southern states. German MoM CPI came in as expected at 0% this morning. Later on today we have a range of figures from the UK including Manufacturing production, PPI input (MoM) and industrial production. This afternoon we have Canadian employment figures and then US import price index and US monthly budget statement. Fri, 10 Jun 2011 07:14:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.08 pm: EURUSD: 1.4596 | GBPUSD: 1.6407 | Crude: 101.20 | Silver: 37.01 | Gold: 1535.40 WTI Crude prices have dipped very slightly this morning after the huge surge yesterday after OPEC’s “worst meeting ever” where no agreement could be reached on a level of production. With the average price of $106.4 in the year to date the current price of approx. $101 is not too shocking and there is potential for further upward movements. The Kiwi is up 1.30% to this morning after a hawkish statement from the New Zealand government that paves the way for a rate hike in December. Silver is up this morning with July 2011 futures up over 1%. Gold is down slightly however. Equity indices are little changed this morning in Europe as we wait for the central bank announcements. This morning saw a slightly better UK trade balance figure of -7.3B compared to an expected -7.5B. Although not a huge difference it suggests that UK exports are picking up. The BoE today voted to keep rates the same at 0.5% and maintain the same level of asset purchasing. The ECB also announced that rates will remain the same at 1.25%. Trichet is due to make a speech at 13.30 in which he may suggest a further rate rise in July, if his speech is more dovish than expected there could be a significant effect on the markets. This afternoon we have a few figures from the US including the Initial Jobless claims which are expected to come in at 424K after last week’s 422K. We also have the US trade balance figure which is expected to come in at -48.6B compared to -48.2B last time. Thu, 09 Jun 2011 12:47:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4616 | GBPUSD: 1.6426 | Crude N1: 101.25 | Silver: 36.60 | Gold: 1534.25 If I was commentating on the markets yesterday as if it were a Formula 1 race , then then the ‘move of the day’ is owed to Crude Oil. The price had been trending lower, due to speculation that when the 12 members of OPEC met they would agree to increase production, however no agreement was made and production left static. It was coined the ‘worst meeting’ by the Saudi Oil minister Ali al-Naimi, who said “We were unable to reach an agreement; this is one of the worst meetings we have ever had”. It seems that Iran rallied other members to block the Saudi bid to increase production, when an increase in demand is forecast and there is notable price volatility. Immediately after the announcement of the stalemate the price of Western Crude for July rallied from $98.50 straight through the psychological $100 level and edged closer to $102 a barrel. The disappointing news from OPEC coupled with continued uncertainty saw the FTSE 100 closes at its lowest level in almost 3 months at 5806.89, down 0.95% on the day. In New York the S&P 500 fell 0.4% a 6th straight decline, on concern on the spike in Oil prices and doubt surrounding the Greek economy. Overnight the Euro and Kiwi dollar led gains in higher-yielding currencies and Asian stocks fell on concern central banks will raise interest rates to curb inflation at a time of a slowdown in the global recovery. The MSCI Asia Pacific Index fell 0.6%, with the Hang Seng currently down 1.09% at 22413.68. Aussie employment data released overnight showed that growth slowed sharply last month and the AUD/USD hit 1.0564 during late Asian trade, the lowest since May 26th. The focus for the European markets is on the BoE and ECB rate announcements at 12pm and 12.45pm. Though the announcement is widely expected to be unchanged, from the ECB there is potential for Trichet to change his rhetoric and signal a raise in interest rates next month. This would be seen as a move to appease Germany, as the latest round of Greek debt restructuring risks increasing tensions among ECB members. Data to be aware of from the US at 13.30, there is Initial & Continuing jobless claims which will be closely watched after the abysmal Non-Farm Payrolls reported last week. Thu, 09 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.00 pm: EURUSD: 1.4624 | GBPUSD: 1.6372 | Crude: 98.16 | Silver: 36.15 | Gold: 1532.95 This morning has seen a sharp drop off in Sterling after Moody’s investors service said that the UK’s credit rating may be lowered if the government misses its debt reduction targets. Wolfgang Schäuble, German finance minister has said that the German government wants Greece to offer all sovereign bond holders a seven year extension of maturities as a condition of more financial aid. Equity indices are down after Ben Bernanke showed reluctance to implement a third round of quantitative easing. Crude prices are down as are gold and silver with silver down over 2%. The Euro has been range-bound between 1.4640 and 1.4670 however has now begun to breakout on the downside. The Aussie dollar is down over 1% as demand for growth-sensitive currencies faltered over more fears from European sovereign debt. This morning Eurozone GDP QoQ came in as expected at 0.8%, the same as previously. German industrial production fell -0.6% compared to an expected 0.1% increase. This comes after a 0.7% increase previously. Looking forward we have Canadian Housing starts this afternoon which are expected to increase to 184K from 179K previously. US Crude oil inventories are also out later this afternoon and are expected in at -1.4M compared to a previous figure of +2.9M. This evening we have the Kiwi rate announcement and the Australian unemployment figure to look forward to. Wed, 08 Jun 2011 12:00:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4671 | GBPUSD: 1.6426 | Crude: 98.62 | Silver: 36.74 | Gold: 1539.90 The markets continue to fluctuate due to the on-going potential for a Greek debt restructuring, with Moody’s now stating that a Greek ‘credit event over the next 4 years is at 50%’. Last night Ben Bernanke sent a strong signal to the markets that the Fed is not planning to loosen monetary policy despite the recent poor economic data, saying that the recovery “appears to be proceeding at a moderate pace”. These comments squash market hopes of a 3rd round of quantitative easing known as ‘QE3’, on the back of these comments Wall Street turned negative with the S&P closed down 0.1% at its low of the day. The Asian markets were mixed after Bernanke comments, as investors digested the bearish comments, and the impact of the slow economic recovery. The MSCI Asia Pacific Index fell 0.3% to the its lowest level in 2 weeks, as Japanese shares plunged. The Nikkei shed 0.3% as the Yen hit a new one-month high against the greenback from safe haven flows. In the commodity markets an announcement from OPEC yesterday stating that they will be increasing production led to Crude shedding a $1 down to around $98.32. Silver and Gold have seen movement on the back of fluctuations in the greenback. Data to be aware of today at 10am we have Euro-Zone GDP, US MBA mortgage applications at 12pm & this afternoon we have Crude inventories at 15.30. All eyes in the FX markets will be focused on tomorrows BoE and ECB rate announcements; though both are expected to be unchanged for now, any potential movement in rhetoric could see volatility. Wed, 08 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.20 pm: EURUSD: 1.4662 | GBPUSD: 1.6417 | Crude: 98.58 | Silver: 37.38 | Gold: 1548.5 This morning has seen a sharp fall in the Dollar as Sterling and Euro have rallied strongly. This is in part due to a Reuter’s report of a Chinese Foreign exchange official saying that the dollar would continue to depreciate against the main currencies. The recent stream of negative data from the US is also weighing on the greenback. Gold and silver have rallied this morning on the back of the weaker Dollar with silver up over 1.5%. European and US equity indices are up as well today with the DAX, CAC and S&P500 all up over 0.5%. A Gulf delegate has announced that OPEC will decide to increase oil production targets when it meets tomorrow to replace the missing Libyan production and meet predicted demand growth, this has seen crude prices dip slightly. Euro-zone retail sales MoM came out this morning at 0.9% compared to an expected 0.4% and previous -1%. This figure is a good sign for the Euro-zone and on a day without many data releases it is likely the Euro will appreciate against the dollar. This evening we have US Federal Reserve chairman Ben Bernanke speaking about the US economic outlook, he is likely to remain dovish and give the impression that rates will stay low. We also have US consumer credit which is expected to fall to 5.2B from 6B previously. Tue, 07 Jun 2011 12:22:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4631 | GBPUSD: 1.6364 | Crude: 98.70 | Silver: 36.77 | Gold: 1545.25 Yesterday the economic data releases were few and far between with the only data during the day from the UK being new car sales; even though it was the 11th straight month of decline it seems to have eased to the smallest monthly drop since July 2010. To add some confusion to the state of UK Plc, late lastnight we had the UK BRC retail sales monitor coming out a very poor -2.1% (Exp: 2.0% & Prev: 5.2%) adding to concerns over the fragility of the economic recovery. Overnight Asian shares extended their losses as investors remained in fear over US growth concerns following last week’s worrying data. The MSCI Asia Pacific Index slipped 0.1% as Australian shares fell ahead of the RBA’s rate announcement. But there was some good news for the region with the Italian fashion house Prada set for its IPO in Hong Kong highlighting the growth in luxury goods in the Asian markets, the IPO is set to raise $2.6Bn. In the commodity markets, Crude is lower at $98.70 a barrel, with lows this morning of $98.32, with Gold and Silver so far in tight ranges. The IMF came out with strong support for George Osbornes austerity plan and said there is no need for a ‘Plan B’. After the recent criticism and certain outspoken commentators stating the need for Osborne to rethink and redirect the recovery, support from the IMF was a well needed boost of confidence. The report said “The weakness in economic growth and rise in inflation over the last several months was unexpected. This raises the question whether it is time to adjust macroeconomic policies. The answer is no as the deviations are largely temporary”. Though the UK’s growth forecast for 2011 was revised to 1.5% and achieving 2.5% growth in the medium term. US Treasury secretary Geithner slammed the UK & other European countries on what he called “light touch” regulation pre financial crisis. In his outspoken address, Geithner said “The UK’s experiment in a strategy of ‘light touch regulation to attract business to London from New York and Frankfurt ended tragically”. Data to look out for this morning we have Euro-Zone Retail Sales at 10am & German factory orders at 11am. Tue, 07 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.45pm: EURUSD: 1.4601 | GBPUSD: 1.6403 | Crude: 98.82 | Silver: 36.69 | Gold: 1543.15 Today economic releases are low on the ground, with only Euro-Zone PPI which was out at 10.00am, this came out 0.1% higher for both MoM and YoY. Looking at commodities Crude Oil is currently hovering around $99 a barrel, about 1.33% down on the day, Silver has been moving higher and trying to break the $37 handle, with Gold slightly higher on the day at $1543.30 The only real movement has been in the EURUSD which has weakened after Angela Merkel said 'Supports Private creditors involvement in the Greek bailout' … however ... 'a second Greek bailout is yet to be agreed by Germany'. In general the stock markets across the board are down from the open with the only exception being the FTSE 100 which is almost flat at 5854.02 The new Portuguese Prime Minister ‘Portugal are absolutely committed to the bailout’ Be aware that there is building permits from Canada and the IMF release there report on the UK at 13.30. Mon, 06 Jun 2011 12:54:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.15am: EURUSD: 1.4644 | GBPUSD: 1.6434 | Crude: 99.92 | Silver: 36.75 | Gold: 1546.15 Fridays worse than expected Non-farm payroll data has caused Asian stocks to fall overnight while metals have rallied. Today is a bank holiday in China, Hong Kong, South Korea, New Zealand and Taiwan. A collection of negative data reports from the US last week has raised serious questions about the US economic recovery. A new Prime Minister has been elected in Portugal who has stated he will adhere to the Austerity measures put in place. President Ali Abdullah Saleh of Yemen is reportedly in Hospital in Saudi Arabia after being injured in an explosion last week. Today we have the Eurozone Sentix Investor Confidence survey which is expected to come in at 8.6 compared to a previous figure of 10.9. We also have Eurozone PPI MoM which is expected to come in at 0.8% compared to a previous figure of 0.7%. Later on this afternoon we have Canadian building permits which are expected to drop -7.5% compared to a previous rise of 17.2% Mon, 06 Jun 2011 07:16:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.15pm: EURUSD: 1.4492 | GBPUSD: 1.6311 | Crude: 99.60 | Silver: 35.35 | Gold: 1527.15 This morning we had PMI Services released from the Euro-Zone, and individual countries. We saw PMI in France at 62.5 that’s 0.3 below the expected survey figures, along with the UK PMI services at 53.8 which was 0.4 below the expected survey figures. However German figures came 1.2 above the previous figure at 56.1. This morning the markets have been in a tight range with the Euro/Dollar slowly trending up trying to break the 1.4500 handle. Euro/GBP rallied to the highest point in the last month this afternoon just shy of 0.8900. It’s that time of the month again everyone is waiting in anticipation for the 13:30 announcement of US Non-Farm Payrolls figures which is a key indicator for the level of unemployment and the confidence level in the market. Some economists are stating that the U.S. economy has cooled as big businesses are losing confidence in the market. Last Month Non-Farm payrolls increased by 165K the smallest gain in four months, after increasing 244,000 in April, rumours say that the figure could be significantly less than the expected 165K figure. At the same time we have the headline unemployment rate for the U.S., its expected at 8.9% a 0.1% lower than last month’s figure of 9.0% which is a good sign for the US economy. The European Union & the International Monetary Fund (IMF) are today due to complete a review of Greece 78Bn Euros plan in asset sales and austerity measures. The assessment at the end of the week will end a week of fiscal turmoil for Greece. This is Greece’s second bailout in little more than a year. Throughout Europe stocks are down , FTSE 100 is 5839 (-0.14%) , CAC 40 (-0.27%) with the debt crisis looming and lower volumes ahead of NFP. Have a good weekend from all at Citypoint Trading Follow us on Twitter @azuritemarkets Fri, 03 Jun 2011 12:15:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4475 | GBPUSD: 1.6353 | Crude: 100.24 | Silver: 36.13 | Gold: 1532.15 The main story that continues to overshadow the markets is the Euro-Zone debt crisis, with speculation rife about the developments in the Greek restructuring it is unsurprising the FX crosses have seen some big movements with EURUSD briefly breaking the 1.45 handle overnight. Adding to this, this morning we have seen Moody’s downgrade the Greek banks, this is on the rising likely hood of sovereign debt restructuring and the losses the banks will incur. Overnight we have seen most Asian stocks decline sending the regions benchmark index down for the fifth consecutive week, with the USD falling to a 3 week low against the Yen. Currently the Nikkei 225 is down 0.66% at 9492.21 & the Hang Seng down 0.54% at 23128.03. Silver has move around $1.50 lower to under $36 from the highs of yesterday with Crude Oil pushing back above $100 a barrel today after a move to $98.50 following the release of inventories. It’s the final session of the week and the focus of the day, if not the last few days will be the U.S. Non-Farm payrolls out at 13.30 for May. Rumours in the market are that the figure could come out around 38K rather than the 165K expected by economists with a previous 244K. This would be a disappointing release for the U.S. economy and adds fuel to growing concerns over the international economic recovery. As a final point to note John Lewis yesterday reported sales increases of 30% on table tennis tables following last week’s photographs of President Barack Obama and Prime Minister David Cameron playing a friendly match. Fri, 03 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12:40pm: EURUSD: 1.4474 | GBPUSD: 1.6381 | Crude: 100.41 | Silver: 37.19 | Gold: 1543.60 At 9.30am we had UK PMI Construction figures, these came out at 54.0 better than analysts expectations of 53.5, cable rose 75 pips with highs of 1.6418 and restored confidence in the FTSE after being hammered yesterday with the lowest factory activity since September 2009. Once again Greece is making the headlines with Moody’s cutting their sovereign credit rating by three levels to Caa1 with its credit rating at almost 30 times the average speed seeing a selloff in the Euro of around 1.5 cents yesterday evening. However since the morning we have seen the euro rally up against the dollar reaching session highs of 1.4486, after ECB Chairman Trichet calling for the creation of a Euro Finance Ministry. There has also been a rumour doing the rounds, that tomorrows Non-Farm payrolls figure is likely to be around 38K compared to the expected 170K. Another headline that’s been circulating this morning is whether OPEC will increase oil supply in the next few months to meet demand the speculated figure is somewhere in the region of 500k-1Million Bpd increase daily. However Algerian Energy Minister Chakib Khelil stated that it is “unlikely” that OPEC will increase its Oil Supply crude, currently crude is around $100.51. The key announcements to watch out for this afternoon coming from the States are the Initial and Continuing Jobless claims being released at 13:30, they are both expected to fall from the previous figures which are a good sign for the US economy. At 15:00 US Factory orders are out speculators expect a fall of 1% this offers an insight into inflation and growth in the manufacturing sector. Thu, 02 Jun 2011 12:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12:40pm: EURUSD: 1.4406 | GBPUSD: 1.6418 | Crude: 102.58 | Silver: 37.96 | Gold: 1532.15 UK manufacturing growth falls as PMI figures hit a 20-month low of 52.1 in May from 54.4 in April; this was due to stagnant activity in May. This had a knock on effect on Cable causing sterling to weaken immediately around 90 pips from 1.6490 to 1.6400. Since the January PMI figure of 61.6 we have seen a consistent fall in PMI month by month showing the slowing pace of growth in the UK. A big part of this slowdown in growth was due to the May Day holiday, Easter Weekend and an extra royal wedding bank holiday, although some of these dates were in April they fell into the PMI survey period. Other PMI figures from Euro Zone leaders France and Germany slowed by more than estimated and saw a slowdown in growth by -0.1 & 0.5 respectively to figures of 54.9 & 57.7. As mentioned this morning the financial turmoil in Greece is making the financial headlines, with speculation in the morning that the IMF may not fund its €60Bn-€70Bn aid package seeing a fall of around 50 pips by the Euro to 1.4393 this was quickly restored when the IMF released a statement seconds after stating that will take part in the planned aid package seeing the euro strengthen to around 1.4420. US Mortgage Applications were down 4.0% compared to the previous figure of a 1.1% rise, the significance of is due to the recession being based around the housing market in the US. This afternoon all eyes will be on the US ADP employment at 13:15, surveys suggest that the figure should come out at 175K, previously the figure was at 179k this could see some volatility. Wed, 01 Jun 2011 12:40:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4425| GBPUSD: 1.6451 | Crude: 102.63 | Silver: 38.11 | Gold: 1531.55 To be unaware of a European debt crisis at the moment would be near impossible, with daily developments the markets are continuously moving to reflect the last twist in this continuing saga. However it does seem there is fresh hope for Greece, as it was reported yesterday that Germany is weakening its opposition on a second Greek Bailout. This sentiment even brushed off Greek retails sales data showing a 17.5% (YoY) nose-dive in consumer spending in March, which was considerably worse than the proceeding February release at a 10.5% fall. Be aware that as this Greek story continues to unfold the markets could be particularly volatile as traders react to breaking news. On the final day as a member of Bank of England MPC, the hawk Andrew Sentence attacked the BoE: ‘I think there is a big risk now emerging to credibility of the Bank … If inflation does not come down in the way the Bank of England is suggesting – an I think there is a big risk that is the case – than that is going to have a big knock on effect on the credibility of the bank’s commitment to its inflation target.’ He carried on expressing his view that the BoE should hike rates immediately or they will have to raise rates faster in the future. However this is mere market commentary as Andrew Sentence has now finished his term on the MPC and is no longer a voting member. In the commodity markets we have Brent Crude higher at $122.66 a Barrel, Silver & Gold slightly higher than where they closed last week, but down from the last few days. This morning we have data releases from the UK (PMI & Mortgage Approvals) and this afternoon from the U.S. we have MBA Mortgage applications & ADP Employment. Wed, 01 Jun 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.00 pm: EURUSD: 1.4401 | GBPUSD: 1.6504 | Crude: 102.38 | Silver: 38.60 | Gold: 1537.90 This morning has seen a sustained rally in the Euro against the dollar after a combination of positive German figures and European nations committing to assist Greece with additional aid. This has also had a positive effect on Crude prices and Equity indices. European and US equity indices are all up with the DAX up almost 2%. The Kiwi is still rallying against the Dollar after interest rate hike speculation. The Yen has fallen after more worries about Japans economy and the reports of a further explosion in the Fukushima nuclear reactor. Wheat futures are the main faller this morning after Russia lifted the ban on exports. French consumer spending MoM came out this morning at -1.6% which is a lot worse than the expected -0.3%. The previous figure of -0.7% was revised down to -1.1% as well. German retail sales YoY came out at 3.6% which was much better than the expected 1.5% and the previous-3.5%. German and Euro-zone unemployment both came out in line with expectations at 7% and 9.9% respectively. Euro-zone CPI came out at 2.7% which was lower than the expected 2.8% . This afternoon we have the Canadian interest rate decision which is expected to stay at 1%. We also have the US consumer confidence which is expected to come in at 66.5 compared to a previous 65.4. Tue, 31 May 2011 12:03:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.10am: EURUSD: 1.4374 | GBPUSD: 1.6509 | Crude: 101.14 | Silver: 38.12 | Gold: 1535.55 Worries about the state of Japans economy are growing after Japans debt rating was put on a review for a downgrade by Moody’s. The Euro has risen sharply against the dollar after speculation that European nations will pledge more money to help Greece. Asian stocks are up as are US equity indices as investors turn to riskier assets. The FTSE is up this morning however DAX and CAC are down. The Kiwi is up as well after rumours the central bank is about to raise interest rates. Swiss GDP YoY came out this morning at 2.4% which is less than the expected 3% and the previous 3.1%. German retail sales YoY rose 3.6% compared to an expected 1.5% however the MoM figure came out at 0.6% compared to an expected 1.8% so a mixed set of results. Looking forward to the rest of the day we have German jobless claims which are expected in at -31K with a previous figure of -37K. Eurozone unemployment is also out later and is expected to stay the same at 9.9%. We then have some data from over the pond with the S&P house price index and the Canadian interest rate decision. After this we have the US Chicago purchasing managers index which is expected to drop to 63.8 from the previous 67.6. We then have US consumer confidence which is expected to increase to 66.3 from 65.4. Tue, 31 May 2011 07:14:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.05 pm: EURUSD: 1.4285 | GBPUSD: 1.6470 | Crude: 100.17 | Silver: 38.0 | Gold: 1536.85 There has been a drop off in oil prices this morning as fears grow that the US economy is slowing down. The Euro is down against the Dollar over yet more concerns that European governments will not be able to resolve the sovereign debt crisis if the global economy does not start to improve. Today is a bank holiday in the UK and US so there has been little movement in other markets, this week will likely be quiet as the markets wait for Friday’s Non-Farm Payrolls which will be closely watched after last week’s disappointing US data. Gold and silver are up slightly after last week’s disappointing US figures. We have some figures from Canada coming out at 13.30 today including quarterly GDP which is expected to rise from 3.3% to 4%. As there have been no other releases today this may have an impact on the markets if out of line with expectations. Looking forward to tomorrow we have quite a lot of releases from both Europe and US. Most notable are French Consumer spending, German retail sales, German Unemployment, Eurozone unemployment and CPI and US consumer confidence. European figures could be important as worries about sovereign debt are growing. As France and Germany are the biggest economies in Europe, positive figures will be a good sign that Europe can cope better with sovereign debt. US consumer confidence will also be watched closely after disappointing figures last week from the US. Mon, 30 May 2011 12:09:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.20am: EURUSD: 1.4261 | GBPUSD: 1.6463 | Crude: 99.79 | Silver: 37.98 | Gold: 1535.40 Asian shares have fallen last night over concerns that US economic growth is slowing after weak US consumer spending figures. This Friday the Non-farm payrolls are released and will provide further insight into the world’s largest economy. Chinese property shares are also down due to expectations of further tightening measures. Today is a bank holiday in the UK and US so there are no economic releases from these countries however we do have the Canadian GDP figure which is expected to come in at 0.2% vs the previous -0.2%. The Canadian current account is also released this afternoon and is expected to have improved slightly from -$11B to -$7.2B. Mon, 30 May 2011 07:37:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.07 pm: EURUSD: 1.4219 | GBPUSD: 1.6413 | Crude: 100.21 | Silver: 37.69 | Gold: 1524.80 There has been little movement in the markets this morning; gold has seen a small increase while silver is flat. Crude is down slightly in this morning’s session. The Euro and Sterling are slightly down against the dollar this morning after rallying overnight. The Swiss Franc has fallen against the dollar European equity indices are up with the FTSE100 up over 40 points and the DAX up over 30. EU Consumer confidence came out this morning slightly worse than the previous -9.7 at -9.8. However the KOF Swiss leading indicator came out today at 2.3 which was better than the expected 2.22 and the previous figure of 2.29 (which was revised to 2.3). Looking forward to this afternoon we have a few figures out from the US including Personal Spending and Personal income which are expected at 0.5% and 0.4% respectively – a 0.1% fall from previous. US pending home sales are also out at 15.00 which are expected to come in at -0.9% which is a fair bit lower than the previous 5.1%. Please be aware Monday is a bank holiday in UK and US so the markets may be quiet. Fri, 27 May 2011 12:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4245 | GBPUSD: 1.6437 | Crude: 100.72 | Silver: 37.75 | Gold: 1523.80 As mentioned yesterday the commodity market in recent weeks has seen some impressive movements, with volatility continuing throughout yesterday in Crude & Silver. Cable moved higher due to disappointing U.S. GDP figures that came in at unchanged 1.8% below expectations of above 2%. During the Asian session stocks rallied, erasing the losses from earlier in the week to end the week strongly, this was lifted after Japanese Consumer prices rose for the first time since 2008 last month. In the UK GFK Consumer confidence accelerated from a previous -31 to -21, this is the biggest jump since 1993, however in contrast Adam Posen (External member of the BoE MPC) writing in this morning’s Financial Times is advocating ‘Now is not the time to raise interest rates…’ and goes on to state ‘MPC must pursue more QE’. It doesn’t seem that the markets have focused on this particularly, with cable close to 1.6450. We have also seen some data for the UK this morning, the Nationwide House Prices (MoM) coming out at 0.3% higher than the expected 0.1%. The main economic releases to keep an eye on will be EU Consumer Confidence, U.S. Personal Income/Spending and Pending House Sales. Fri, 27 May 2011 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 12.40 pm: EURUSD: 1.4177 | GBPUSD: 1.6309 | Crude: 101.19 | Silver: 36.90 | Gold: 1518.00 This morning has seen a drop off in gold and silver prices as traders are switching to riskier assets after speculation that China will increase its purchases of European bonds thus easing concerns that the debt crisis will spread. Silver has been especially volatile this morning with a $2 drop and after a slight rebound has now fell back to a low for the day. US indices are up as are the FTSE and CAC partly due to the rally in commodity prices which has eased concern that the global economic recovery is slowing. The DAX however is bucking the trend and is down 22 points. Euro and Sterling have risen slightly against the Dollar this morning while the Kiwi has risen almost 100 pips after reports that a major Chinese company intends to invest in the country. Officials from the OECD have commented that the IMF and EU are more on top of the sovereign debt crisis than they were a year ago. The OECD also said they believe the bank of England should begin to raise interest rates. Richard Branson is considering a purchase of 600 Lloyd’s branches to expand his Virgin Money business. Jean-Claude Trichet made a speech at the WDR Europa Forum where he said the ECB’s primary objective is to maintain price stability in the medium term. He also spoke about the economic reforms needed to improve the current debt crisis. ECB governing council member Nowotny also made a hawkish statement about potential future rate hikes. At 13.30 today we have the US GDP QoQ figure which is expected to rise to 2.2% from 1.8% previously. At the same time we have the initial jobless claims figure which is expected to fall slightly from the previous 409K to 403K. US continuing claims are also expected to fall slightly from 3711K to 3700K. These figures are likely to drive the market for the rest of the afternoon. We also have the EIA Natural Gas inventories at 15.30. This figure is expected to rise slightly from 92 to 95. Thu, 26 May 2011 13:00:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Current Prices as of 7.45am: EURUSD: 1.4158 | GBPUSD: 1.6292 | Crude: 101.44 | Silver: 38.4 | Gold: 1528.75 The markets have been driven recently by commodity prices, and yesterday was a similar story, with Crude, Silver & Gold all pushing higher. Sterling was given a well needed boost, as the markets welcomed the GDP figure, with cable rallying throughout the day. During the Asian session last night stocks rose, with the region’s benchmark index set for its biggest jump in 5 weeks, as a rally in commodities helped ease concern the global economic is cooling off in the Asian countries. European data out this morning; lower than expected German Import Price Index (0.3% vs 0.7%) and French consumer confidence in line with expectations at 84. For the rest of the morning data is thin on the ground with all eyes on the U.S. data at 13.30 (GDP, Initial Jobless & Continuing Jobless claims) which should give the markets some direction for the rest of the day. European equities are starting to stabilise after a sell off earlier in the week due to the risk of contagion throughout the Euro-Zone. A new issue hanging over the EU to consider is the political instability within Greece, surrounding a potential general election or a referendum on the necessary budget cuts. We are calling; FTSE up 20, CAC 7 higher and the DAX to open around 30 points higher (cash markets). Thu, 26 May 2011 07:48:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We have seen both the Euro and Sterling rally against the dollar this morning, buoyed by UK GDP YoY and QoQ being in line with expectations at 1.8% and 0.5% respectively. Although this signals just a small amount of growth, due to the current market volatility this is a positive step closer to a stable outlook for the UK economy. On the flip side UK mortgage approvals came out at 29.4K which was lower than both the expected and previous figures (32.2K and 31.6K respectively), adding some confusion to the economic outlook. From the powerhouse of the Euro-Zone, the German GFK consumer confidence survey came out slightly lower than expected this is likely to have been affected by the heightening level of sovereign debt for other members of the Eurozone, and the potential issue surrounding contagion. The return of volcanic ash clouds from the volcano Grimsvotn in Iceland could potentially impact the transport and leisure sector. However the latest news is that UK air traffic control have said the skies will remain clear of high levels of ash until at least 7PM UTC today. Yesterday saw Goldman Sachs advising clients to buy commodities, with an expected price of $120 a barrel for Brent Crude by the end of the year, with an outlook of $130 for 2012. Silver continues to push higher from yesterday’s gains, up around $1 this morning at just over $37. US Mortgage Applications come out this afternoon at 1.1% with a previous figure of 7.8%. The main focus for the rest of the U.S. session will be the Crude oil inventories which are released at 3:30 and are expected to come in at -1.6M. We have also seen a large amount of ongoing speculation over the next appointment for the IMF. Wed, 25 May 2011 14:48:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The British government announced today an increase of £800m in the government’s levy on the banks this year, but remained “confident” the move would not prevent the signing of a comprehensive deal with the banks covering lending and bonuses. George Osborne, chancellor, introduced a bank levy of about £2.5bn a year in his first Budget in 2010, but initially decided it should be introduced at a starter rate of £1.7bn, to allow weakened banks to build up their capital positions. Tue, 08 Feb 2011 09:49:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "CAC"Z0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 3870 Offer 3875 The mid price from the exchange at 20:59:59 was 3871 Thu, 16 Dec 2010 04:11:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "FTSE"Z0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 5876.5 Offer 5880.0 The mid price from the exchange at 20:59:59 was 5879 Thu, 16 Dec 2010 04:09:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Dax"Z0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 7003.0 Offer 7007.3 The mid price from the exchange at 20:59:59 was 7004 Thu, 16 Dec 2010 04:07:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "S&P 500 Mini"Z0"" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 1236.1 Offer 1238.1 The mid price from the exchange at 21:14:59 was 1236.75 Thu, 16 Dec 2010 04:06:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Nasdaq 100 Mini"Z0"" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 2201.5 Offer 2204.5 The mid price from the exchange at 21:14:59 was 2203.0 Thu, 16 Dec 2010 04:03:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Mini Dow Jones"Z0"" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 11474 Offer 11479 The mid price from the exchange at 21:14:59 was 11476 Thu, 16 Dec 2010 04:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Brent Crude"F1"" contract expired yesterday at 23:00. All positions were closed out at the following price: Bid 91.28 Offer 91.36 The mid price from the exchange at 22:59:59 was 91.30 Wed, 15 Dec 2010 00:50:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Silver"Z0"" contract expired yesterday at 18:25. All positions were closed out at the following price: Bid 29.75 Offer 29.79 The mid price from the exchange at 18:24:59 was 29.76 Wed, 15 Dec 2010 00:48:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Silver"H1" "contract has been released for trading Thu, 09 Dec 2010 04:44:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Palladium"Z0"" contract expired yesterday at 18:00. All positions were closed out at the following price: Bid 698.93 Offer 703.93 The mid price from the exchange at 17:59:59 was 700.95 Wed, 01 Dec 2010 01:27:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Heating Oil "Z0"" contract expired yesterday at 18:45. All positions were closed out at the following price: Bid 2.314 Offer 2.321 The mid price from the exchange at 18:44:59 was 2.320 Sat, 27 Nov 2010 16:36:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Please note you may find our trading hours for the rest of this week within our Trader's Lounge. http://www.citypointtrading.com/traders-lounge-forex-cfds/holiday-details.aspx?HolidayID=20 Tue, 23 Nov 2010 17:42:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Coffee "C" "Z0"" contract expired yesterday at 19:00. All positions were closed out at the following price: Bid 206.20 Offer 207.0 The mid price from the exchange at 18:59:59 was 206.70 Tue, 23 Nov 2010 12:51:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Copper"Z0"" contract expired yesterday at 18:00. All positions were closed out at the following price: Bid 375.75 Offer 375.95 The mid price from the exchange at 17:59:59 was 375.55 Tue, 23 Nov 2010 12:49:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Natural Gas"Z0"" contract expired yesterday at 19:30. All positions were closed out at the following price: Bid 4.260 Offer 4.280 The mid price from the exchange at 19:29:59 was 4.275 Tue, 23 Nov 2010 12:47:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Heating Oil "H1" "contract has been released for trading Mon, 22 Nov 2010 12:37:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Natural Gas"H1" "contract has been released for trading Mon, 22 Nov 2010 12:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Crude"Z0"" contract expired yesterday at 19:30. All positions were closed out at the following price: Bid 80.43 Offer 80.49 The mid price from the exchange at 19:29:59 was 80.45 Thu, 18 Nov 2010 00:51:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Cocoa"Z0"" contract expired yesterday at 19:00. All positions were closed out at the following price: Bid 2784 Offer 2794 The mid price from the exchange at 18:59:59 was 2786 Thu, 18 Nov 2010 00:48:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "CAC"X0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 3787.3 Offer 3792.3 The mid price from the exchange at 20:59:59 was 3790 Thu, 18 Nov 2010 00:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Coffee "C""H1" "contract has been released for trading Wed, 17 Nov 2010 17:39:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Cocoa"H1" "contract has been released for trading Wed, 17 Nov 2010 17:36:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Crude"G1" "contract has been released for trading Wed, 17 Nov 2010 00:36:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Corn"Z0"" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 525.8 Offer 528.8 The mid price from the exchange at 19:15:00 was 526.5 Wed, 17 Nov 2010 00:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Wheat"Z0"" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 624.6 Offer 627.1 The mid price from the exchange at 19:15:00 was 626.2 Wed, 17 Nov 2010 00:34:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Wheat "H1" "contract has been released for trading Fri, 12 Nov 2010 22:10:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Corn "H1" "contract has been released for trading Fri, 12 Nov 2010 22:10:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx U.S. Non Farm Payrolls rose 151K in October, considerably higher than expected. Fri, 05 Nov 2010 13:20:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Due to daylight saving. Please note that all products will close an hour earlier than usual tonight. Spot FX will close at 20:00 GMT (UK time). All Nymex products that trade on the Globex will close at 20:15 GMT (UK time). If you have any quesitons please contact info@CitypointTrading.com. Fri, 05 Nov 2010 12:51:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Heating Oil"Z0" "contract has been released for trading Fri, 22 Oct 2010 13:38:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Crude"X0"" contract expired yesterday at 19:30. All positions were closed out at the following price: Bid 83.10 Offer 83.16 The mid price from the exchange at 19:30:00 was 83.12 Tue, 19 Oct 2010 14:04:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Brent"X0"" contract expired yesterday at 23:00. All positions were closed out at the following price: Bid 83.37 Offer 83.45 The mid price from the exchange at 23:00:00 was 83.40 Wed, 13 Oct 2010 12:31:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Soybean"F1" "contract has been released for trading. Tue, 12 Oct 2010 15:33:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Brent Crude"Z0" "contract has been released for trading. Thu, 07 Oct 2010 16:08:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Platinum"V0"" contract expired yesterday at 18:05. All positions were closed out at the following price: Bid 1647.0 Offer 1652.0 The mid price from the exchange at 18:04:59 was 1649 Thu, 30 Sep 2010 13:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Heating Oil"V0"" contract expired yesterday at 19:30. All positions were closed out at the following price: Bid 2.121 Offer 2.128 The mid price from the exchange at 19:29:59 was 2.124 Wed, 29 Sep 2010 12:22:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Natural Gas"V0"" contract expired on Friday Sep 27 at 19:30. All positions were closed out at the following price: Bid 3.872 Offer 3.892 The mid price from the exchange at 19:29:59 was 3.879 Mon, 27 Sep 2010 12:22:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Heating Oil"X0" "contract has been released for trading. Thu, 23 Sep 2010 15:31:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Natural Gaz"Z0" "contract has been released for trading. Wed, 22 Sep 2010 15:37:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Mini Dow Jones "U0"" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 10574 Offer 10579 The mid price from the exchange at 21:14:59 was 10576. The "S&P500 Mini "U0"" contract expired yesterday at 23:30. All positions were closed out at the following price: Bid 1124.1 Offer 1126.1 The mid price from the exchange at 23:29:59 was 1125. The "Nasdaq 100Mini "U0"" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 1941 Offer 1944 The mid price from the exchange at 21:14:59 was 1942.5 Thu, 16 Sep 2010 12:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "FTSE "U0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 5564.7 Offer 5568.2 The mid price from the exchange at 20:59:59 was 5567. The "CAC "U0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 3767.3 Offer 3772.3 The mid price from the exchange at 20:59:59 was 3770. The "DAX "U0"" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 6269.8 Offer 6273.8 The mid price from the exchange at 20:59:59 was 6271 Thu, 16 Sep 2010 12:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new " Crude"Z0" "contract has been released for trading. Tue, 14 Sep 2010 13:08:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Brent Crude "V0"" contract expired yesterday at 23:00. All positions were closed out at the following price: Bid 78.97 Offer 79.05 The mid price from the exchange at 22:59:59 was 79.01. Tue, 14 Sep 2010 12:38:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Mini Dow Jones"Z0","S&P500 Mini "Z0",Nasdaq 100Mini "Z0",CAC "V0",DAX "Z0",FTSE "Z0" "contracts has been released for trading. Mon, 13 Sep 2010 13:52:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "EUR/USD"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 1.2693 Offer 1.2698 Fri, 10 Sep 2010 23:30:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "GBP/USD"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 154.24 Offer 154.29 Fri, 10 Sep 2010 23:30:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "US Dollar Index U0" contract expired yesterday at 23:00. All positions were closed out at the following price: Bid 82.67 Offer 82.72 The mid price from the exchange at 22:59:59 was 82.68. Fri, 10 Sep 2010 01:04:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Silver"Z0" "contract has been released for trading. Fri, 10 Sep 2010 00:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Brent Crude"X0" "contract has been released for trading. Fri, 10 Sep 2010 00:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "AUD/USD"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 92.28 Offer 92.33 Fri, 10 Sep 2010 00:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "NZD/USD"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 72.47 Offer 72.52 Fri, 10 Sep 2010 00:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "USD/CHF"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 98.49 Offer 98.54 Fri, 10 Sep 2010 00:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "USD/CAD"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 96.65 Offer 96.70 Fri, 10 Sep 2010 00:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "USD/JPY"U0"" contract expired yesterday at 20:00 All positions were closed out at the following price: Bid 119.33 Offer 119.38 Fri, 10 Sep 2010 00:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "US Dollar Index "Z0" "contract has been released for trading. Wed, 08 Sep 2010 23:53:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "USD/CHF "Z0" ,USD/CAD "Z0",USD/JPY "Z0"" contracts has been released for trading. Wed, 08 Sep 2010 23:46:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "EUR/USD "Z0",GBP/USD "Z0",AUD/USD "Z0",NZD/USD "Z0"" contracts has been released for trading. Wed, 08 Sep 2010 23:42:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Sugar "V0"" contract expired yesterday at 19:00. All positions were closed out at the following price: Bid 20.66 Offer 20.76 The mid price from the exchange at 18:59:59 was 20.70 Fri, 03 Sep 2010 14:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Palladium U0" contract expired yesterday at 18:00. All positions were closed out at the following price: Bid 498.10 Offer 503.10 The mid price from the exchange at 17:59:59 was 501.60 Wed, 01 Sep 2010 14:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Sugar "11" H1" contract has been released for trading. Mon, 30 Aug 2010 16:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Heating Oil U0" contract expired on 27/8/2010 at 19:30. All positions were closed out at the following price: Bid 2.044 Offer 2.051 The mid price from the exchange at 19:29:59 was 2.048 Mon, 30 Aug 2010 12:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Palladium Z0" contract has been released for trading Thu, 26 Aug 2010 13:39:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Natural Gas U0" contract expired yesterday at 19:30. All positions were closed out at the following price: Bid 3.859 Offer 3.879 The mid price from the exchange at 19:29:59 was 3.869 Thu, 26 Aug 2010 13:34:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Coffee "C" U0" contract expired yesterday at 19:00. All positions were closed out at the following price: Bid 181.1 Offer 182.1 The mid price from the exchange at 18:59:59 was 181.5. Tue, 24 Aug 2010 19:24:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Coffee "C" U0" at 19:00. Mon, 23 Aug 2010 14:29:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Copper Z0" contract has been released for trading. Fri, 20 Aug 2010 13:55:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Cac Q0" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 3652 Offer 3657 The mid price from the exchange at 20:59:59 was 3654. The "Crude U0" contract expired yesterday at 19:30. All positions were closed out at the following price: Bid 75.39 Offer 75.45 The mid price from the exchange at 19:29:59 was 75.42. The "Cocoa U0" contract expired yesterday at 19:00. All positions were closed out at the following price: Bid 2831 Offer 2841 The mid price from the exchange at 18:59:59 was 2835. Thu, 19 Aug 2010 17:44:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the following contracts later this evening: "Cac Q0" at 21:00 "Cocoa U0" at 19:00 "Crude U0" at 19:30 Wed, 18 Aug 2010 10:27:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "Corn U0" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 414.5 Offer 417.5 The mid price from the exchange at 19:14:59 was 416. The "Wheat U0" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 651.5 Offer 654.0 The mid price from the exchange at 19:14:59 was 652.25. Wed, 18 Aug 2010 09:53:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the following contracts later this evening: "Corn U0" at 19:15 "Wheat U0" at 19:15 Tue, 17 Aug 2010 06:43:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Cac U0", "Corn Z0", "Cocoa Z0", "Wheat Z0" and "Crude X0" contracts have been released for trading. Fri, 13 Aug 2010 15:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Gold Z0" & "Brent Crude V0" contracts have been released for trading. Tue, 10 Aug 2010 15:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Wheat has rocketed to it's highest level since July 2008 amongst drought & doubt on the Russian crop. Russia, the world's third biggest wheat grower is suffering it's worst drought in half a century, threatening to push food inflation higher. Wheat has surged 78% since June 9, the year's low, to $7.6150 a bushel. Thu, 05 Aug 2010 08:30:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Pound Sterling looks set to snap a nine day gain against the US Dollar, the longest run since 1992. USDGBP was up to a sixth month high as confidence about the state of the British economy began to increase. Strong manufacturing data and results from the UK’s largest banks gave a stronger picture of the country’s economy. HSBC doubled its first half year profits to $11 billion & Barclays is expected to announce increased profits. Wed, 04 Aug 2010 09:34:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Unemployment has probably risen in the world's largest economy the United States of America, according to economists ahead of this Friday's employment figures. This has led to concern that US households will be tightening their belts - reigning in expenditure, in the year ahead. The jobless rate in June rose from 9.5% to 9.6% according to Bloomberg economists this week. Sun, 01 Aug 2010 13:05:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude Oil pared earlier gains as retreating equity indices added to concern that the economic recovery may not be strong enough to drive fuel demand. The Organization of Petroleum Exporting Countries' (OPEC) crude output increased for the third time in four months in July. Crude futures declined yesterday to a one week low after the U.S import levels jumped to the highest level in almost four years. Thu, 29 Jul 2010 09:34:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Heating Oil Q0" contract expired last night at 22:15. Citypoint Trading closing prices were: Bid 196.14 Offer 203.14. The mid price from the exchange at 22:14:59 was 199.64. Thu, 29 Jul 2010 09:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Heating Oil Q0" at 22:15. Wed, 28 Jul 2010 08:06:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx BP Plc reported a loss of $17.2B (compared with a profit of $4.39B posted last year) after taking charge of the worst oil spill in U.S history in the Gulf of Mexico. Also announced was the resignation of embattled CEO Tony Hayward, the American Robert Dudley will succeed him as of 1st October. Analysts are now predicting the clean-up cost of the disaster will exceed $30B. Since 20th April $70B has been wiped off the value of the company, the company is selling assets, cutting dividends & reducing investment to meet the bill for the hefty clean-up operation. Tue, 27 Jul 2010 08:07:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Natural Gas Q0" contract expired last night at 22:15. Citypoint Trading closing prices were: Bid 4.602 Offer 4.622. The mid price from the exchange at 22:14:59 was 4.612. Tue, 27 Jul 2010 08:03:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Natural Gas Q0" at 22:15. Mon, 26 Jul 2010 13:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Heating Oil U0" contract has been released for trading. Fri, 23 Jul 2010 09:16:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Natural Gas V0" contract has been released for trading. Wed, 21 Jul 2010 09:42:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx China surpassed the United States of America last year as the world's biggest energy user according to the International Energy Agency, focusing attention on developing nations as a key driver of global growth. China consumed 2,252 million metric tonnes of oil equivalent in 2009 exceeding the U.S by 82 million metric tonnes. Tue, 20 Jul 2010 08:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Moody's Investors Service downgraded its rating on Ireland governmental bonds to Aa2 from Aa1. The rating agency did state that it had a "stable" outlook on the country's debt. Ireland's real-estate slump & recession has eroded tax revenue and left the country with the widest budget deficit of all 16 Euro area nations. Mon, 19 Jul 2010 08:02:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Crude Q0" contract expired last night at 19:30. Citypoint Trading closing prices were: Bid 75.95 Offer 76.01. The mid price from the exchange at 19:29:59 was 75.975. Also, Our "Soybean Q0" contract expired last night at 19:15. Citypoint Trading closing prices were: Bid 1019.25 Offer 1022.75. The mid price from the exchange at 19:14:59 was 1021. Sat, 17 Jul 2010 13:29:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contracts will expire later this evening: "Crude Q0" at 19:30 & "Soybean Q0" at 19:15. Fri, 16 Jul 2010 08:30:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude Oil fell for the second day in a row after the Fed's assessment that the U.S outlook has "softened" added to concern the world's number one energy consuming nation may struggle to maintain it's economic recovery. Fuel demand dropped 4% to 18.8 million barrels a day in the week of July 9th, the biggest one work decline since March according to the DOE inventory figures released yesterday. Crude for August delivery fell as much as 54 cents, or 0.7% to $76.50 a barrel. Thu, 15 Jul 2010 07:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "CAC N0" contract expired last night at 21:00. Citypoint Trading closing prices were: Bid 3622.5 Offer 3627.5. The mid price from the exchange at 20:59:59 was 3624.50. Thu, 15 Jul 2010 07:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "CAC N0" at 21:00. Wed, 14 Jul 2010 07:51:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Brent Crude Q0" contract expired last night at 23:00. Citypoint Trading closing prices were: Bid 76.66 Offer 76.71. The mid price from the exchange at 22:59:59 was 76.69. Wed, 14 Jul 2010 07:47:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Soybean U0" & "Crude V0" contracts have been released for trading. Tue, 13 Jul 2010 14:59:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Brent Crude Q0" at 23:00. Tue, 13 Jul 2010 07:59:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Only a month ago major European banks were tipping the Euro for parity with the U.S Dollar as sovereign debt crises swept through the European Union - threatening to tear it apart. However, shrewd investors who bought the Euro at it's four year low of $1.1811 on 7th June would be 6.4% ahead today. Germany exporting manufacturers have driven the recovery in the 16-nation currency, by changing perceptions. Exports, noticeably from BMW AG, Siemens AG & Volkswagen AG have risen 11.4% to €80.8B in the first five months of 2010. Mon, 12 Jul 2010 09:44:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude Oil fell for the seventh day as declines in Asian equity markets raised concern the slowing economic expansion will erode fuel demand. Crude futures for August delivery dropped as much as 32 cents or 0.4% to $71.66 a barrel. Wed, 07 Jul 2010 08:39:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The Euro fell from it's six week high against the U.S Dollar amongst speculation the European Central Bank will maintain interest rates at a record low as efforts to cut national budget deficits may dampen growth. The Euro fell against 14 out of 16 of it's most actively traded currencies. The ECB rate decision is at 12:45 (BST) on Thursday. Mon, 05 Jul 2010 09:36:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Heating Oil N0" contract expired last night at 19:30. Citypoint Trading closing prices were: Bid 2.0919 Offer 2.0926. The mid price from the exchange at 19:29:59 was 2.0922. Tue, 29 Jun 2010 07:56:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Heating Oil N0" at 19:30. Mon, 28 Jun 2010 15:31:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Platinum V0" contract has been released for trading. Fri, 25 Jun 2010 10:47:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx California & Illinois now have the lowest credit rating of all 50 states. California's $1.8 trillion economy is sinking into greater financial deficit. Along with Arizona, New Jersey & New York the U.S states show no signs of climbing out of $112 billion budget deficit the U.S finds itself in, despite three straight quarters of improvement in GDP. Fri, 25 Jun 2010 09:17:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Natural Gas N0" contract expired last night at 19:30. Citypoint Trading closing prices were: Bid 4.738 Offer 4.760. The mid price from the exchange at 19:29:59 was 4.749. Fri, 25 Jun 2010 08:19:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Natural Gas N0" at 19:30. Thu, 24 Jun 2010 08:18:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Copper N0" contract expired last night at 18:00. Citypoint Trading closing prices were: Bid 292.60 Offer 294.60. The mid price from the exchange at 17:59:59 was 293.60. Thu, 24 Jun 2010 08:16:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Copper N0" at 18:00. Wed, 23 Jun 2010 13:10:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Heating Oil Q0" contract has been released for trading. Wed, 23 Jun 2010 13:09:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The Conservative-Liberal coalition yesterday announced the biggest budgetary squeeze since the 1970's. Bond investors & Fitch ratings fully endorsed the harsh, but necessary measures. Voter discontent & a further economic slump may hamper the success of the austerity measures. Sterling rose rose as George Osbourne, Chancellor, outlined the spending cuts & tax increases to Parliament. Wed, 23 Jun 2010 11:10:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Coffee "C" N0" contract expired last night at 19:00. Citypoint Trading closing prices were: Bid 158.65 Offer 159.65 The mid price from the exchange at 18:59:59 was 159.15. Wed, 23 Jun 2010 07:55:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Coffee "C" N0" at 19:00. Tue, 22 Jun 2010 11:12:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Natural Gas U0" contract has been released for trading. Mon, 21 Jun 2010 20:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The price of Gold is advancing to an all-time high as investors are flocking to the precious metal. Continuing uncertainty about the global economy & European debt crises have increased the appeal of Gold as a safe haven for wealth. Spot Gold rose as much as 0.3% to $1,261 a Troy Ounce. August futures in Gold rose 0.2% to $1,258 a troy ounce. Gold have risen 15% in 2010 & is set for it's 10th annual advance. Mon, 21 Jun 2010 07:39:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Crude N0" contract expired on Friday at 19:30. Citypoint Trading closing prices were: Bid 77.18 Offer 77.24 The mid price from the exchange at 19:29:59 was 77.29. Sun, 20 Jun 2010 20:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Copper U0" contract has been released for trading. "Copper U0" was released today instead of "Copper Q0" due to it being far more liquid. Fri, 18 Jun 2010 15:58:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Crude N0" at 19:30. Fri, 18 Jun 2010 14:24:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Cocoa N0" contract expired yesteday at 19:00. Citypoint Trading closing prices were: Bid 2911 Offer 2921 The mid price from the exchange at 18:59:59 was 2916. Fri, 18 Jun 2010 10:25:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Cocoa N0" at 19:00. Thu, 17 Jun 2010 18:21:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Coffee "C" U0" contract has been released for trading. Thu, 17 Jun 2010 18:17:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The "FTSE M0" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 5274.0 Offer 5277.5 The mid price from the exchange at 20:59:59 was 5276. The "Dow Jones Mini M0" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 10399 Offer 10404 The mid price from the exchange at 21:14:59 was 10402. The "Nasdaq 100 Mini M0" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 1906.2 Offer 1909.2 The mid price from the exchange at 21:14:59 was 1906.5. The "S&P 500 Mini M0" contract expired yesterday at 21:15. All positions were closed out at the following price: Bid 1114 Offer 1116 The mid price from the exchange at 21:14:59 was 1114. The "CAC M0" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 3694 Offer 3699 The mid price from the exchange at 20:59:59 was 3695. The "Dax M0" contract expired yesterday at 21:00. All positions were closed out at the following price: Bid 6205 Offer 6209 The mid price from the exchange at 20:59:59 was 6205.25. The "Con N0" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 357 Offer 360 The mid price from the exchange at 19:15 was 357.5. The "Soybean N0" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 956.8 Offer 960.3 The mid price from the exchange at 19:14:59 was 957.25. The "Wheat N0" contract expired yesterday at 19:15. All positions were closed out at the following price: Bid 462 Offer 464.5 The mid price from the exchange at 19:14:59 was 462. Thu, 17 Jun 2010 11:24:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the following contracts later this evening: "FTSE M0" at 21:00. "Mini Dow Jones M0" at 21:15. "Nasdaq 100 Mini M0" at 21:15. "S&P 500 Mini M0" at 21:15. "CAC M0" at 21:00. "Dax M0" at 21:00. "Soybean N0" at 19:15. "Corn N0" at 19:15. "Wheat N0" at 19:15. Wed, 16 Jun 2010 16:13:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Crude U0" contract has been released for trading. Tue, 15 Jun 2010 14:54:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Gold M0" contract expired today at 18:30. Citypoint Trading closing prices were: Bid 1223.10 Offer 1233.60 The mid price from the exchange at 18:29:59 was 1233.30. Mon, 14 Jun 2010 19:12:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Soybean Q0" and "Cocoa U0" contracts have been released for trading. Mon, 14 Jun 2010 18:20:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Gold M0" at 18:30. Mon, 14 Jun 2010 17:27:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Brent Crude N0" contract expired on Friday night at 21:00. Citypoint Trading closing prices were: Bid 74.75 Offer 74.84 The mid price from the exchange at 20:59:59 was 74.76. Sun, 13 Jun 2010 21:41:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Corn U0", "Wheat U0", "Mini Dow Jones U0", Nasdaq 100 Mini U0", S&P 500 Mini U0", "Cac N0", "FTSE U0" and "Dax U0" contracts have all been released for trading. Fri, 11 Jun 2010 18:42:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "US Dollar Index M0" contract expired last night at 23:00. Citypoint Trading closing prices were: Bid 87.05 Offer 87.10 The mid price from the exchange at 22:59:59 was 87.09. Fri, 11 Jun 2010 07:41:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Brent Crude N0" at 21:00. Fri, 11 Jun 2010 07:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later tonight: "US Dollar Index M0" at 23:00. Thu, 10 Jun 2010 10:53:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "US Dollar Index U0", "Gold Q0" and "Brent Crude Q0" contracts have been released for trading. Thu, 10 Jun 2010 10:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude N0 rose for a second day trending upwards from its lowest point since late May. API Crude Inventories showed a significant drop in inventories in the US last night but more focus will be on the more important DOE Crude Inventories at 15:30 today. Standout economic announcement: DOE Crude Oil Inventories at 15:30 (BST) Wed, 09 Jun 2010 09:41:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The Reserve Bank of New Zealand desire for a weaker currency is encountering resistance from big bond investors. Investors expect Chinese demand for Kiwi milk & wool to increase economic growth, leading RBNZ Governor Alan Bollard to raise interest rates from their record low, helping the New Zealand Dollar to recover from its biggest drop in twelve months. A stronger Kiwi Dollar may be the last thing Bollard wants as the European debt crisis spreads, threatening to slow global growth. A weaker Kiwi Dollar remains desirable to boost export returns & discourage household spending on imports, boosting the economy. Thu, 03 Jun 2010 08:48:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Sugar "11" N0" contract expired earlier today at 19:00. Citypoint Trading closing prices were: Bid 13.93 Offer 14.03 The mid price from the exchange at 18:59:59 was 13.94. Thu, 03 Jun 2010 07:42:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Sugar "11" N0" at 19:00. Wed, 02 Jun 2010 10:33:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx At the turn of the century the U.S was in the top three of the world when it came to the proportion of citizens that received fast web service, today the world's biggest economy has fallen to fifteenth according to the Organization for Economic Cooperation & Development. Connections were faster & cheaper in twelve countries above the U.S. The Federal Communications Commission (FCC) is proposing a $16 billion investment in the next ten years to close the gap. The FCC National Broadband Plan aims to give 100 million U.S homes the same connection speeds available today in Portugal & Japan. Wed, 02 Jun 2010 08:39:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Palladium M0" contract expired earlier today at 18:00. Citypoint Trading closing prices were: Bid 466.15 Offer 471.15 The mid price from the exchange at 17:59:59 was 466.50. Tue, 01 Jun 2010 07:53:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Palladium M0" at 18:00. Mon, 31 May 2010 15:43:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Citypoint Trading Memorial Day & Spring Bank Holiday trading times released, please check: http://www.citypointtrading.com/traders-lounge-forex-cfds/holiday-details.aspx?HolidayID=10 Fri, 28 May 2010 14:16:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Sugar "11" V0" contract has been released for trading. Fri, 28 May 2010 14:13:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Stocks rise for the third day, led by the emerging markets continuing the rebound from a nine month low. Oil rose above $75 a barrel. The MSCI Emerging Markets Index strengthened by 1.7%, it is now poised for the biggest three day rally in a year. Futures on the S&P500 Index rose 0.1%. Fri, 28 May 2010 13:46:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Heating Oil M0" contract expired earlier today at 19:30. Citypoint Trading closing prices were: Bid 1.922 Offer 1.929 The mid price from the exchange at 19:29:59 was 1.923. Thu, 27 May 2010 07:40:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The price of Crude Oil rose following the industry funded American Petroleum Institute Crude Oil inventories came out last night. The report revealed a drop in U.S stockpiles, spiking confidence that fuel demand in the largest energy consumer may not be falling. All eyes will turn to today's DOE inventories figures for confirmation of last night's report. Wed, 26 May 2010 09:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Palladium U0" contract has been released for trading. Wed, 26 May 2010 09:14:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Heating Oil M0" at 19:30. Wed, 26 May 2010 09:07:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Global stock markets have tumbled today over continued fears about Euro-Zone debt problems. In Europe the FTSE 100 was down 2.6%, down by more than 10% after hitting it's high since October 2008. The Dax was 2.7% lower and the Cac 40 index had fallen 3.2%. There was further worry in Asian markets amidst concern North Korea is mobilizing it's armed forces against the South. Tue, 25 May 2010 14:37:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Natural Gas M0" contract expired earlier today at 19:30. Citypoint Trading closing prices were: Bid 4.015 Offer 4.035 The mid price from the exchange at 19:29:59 was 4.016. Tue, 25 May 2010 09:42:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude oil fell to below $70 a barrel amongst concern Europe's debt crisis may spread. Oil fell for the first day this week as the Euro weakened against the Dollar reducing the appeal of commodities. Speculation is high that U.S supplies of Crude Oil probably rose for the sixteenth time in seventeen weeks ahead of DOE Crude Oil Inventories tomorrow. Tue, 25 May 2010 08:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Natural Gas M0" at 19:30 Mon, 24 May 2010 07:49:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Heating Oil N0" contract has been released for trading. Fri, 21 May 2010 11:19:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The United States Senate has brought Congress to the brink of passing the most sweeping reforms to the financial industry since the Great Depression of the 1930s. The Senate approved a bill that will impose restrictions on proprietary trading by banks and aim to create a new consumer watchdog, with the remit to prevent similar lending abuses that triggered the credit crunch, and has lead to the worst unemployment in just under thirty years. The bill was passed yesterday by a 59-39 vote & will require reconciliation with the bill that was passed by the House of Representatives in December. Fri, 21 May 2010 11:18:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "CAC K0" contract expired earlier today at 16:30. Citypoint Trading closing prices were: Bid 3494.0 Offer 3499.0 The mid price from the exchange at 16:29:59 was 3494.5. Wed, 19 May 2010 19:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The Euro-Zone single currency fell more than 1.7% yesterday in afternoon trading, reaching a four year low & falling below $1.22 for the first time since April 2006. Continued worries that the austerity measures being placed in many Euro-Zone countries will hit growth hard. Wed, 19 May 2010 08:26:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Natural Gas Q0" contract has been released for trading. Wed, 19 May 2010 08:15:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Crude M0" contract expired last night at 19:30. Citypoint Trading closing prices were: Bid 69.44 Offer 69.50 The mid price from the exchange at 19:29:59 was 69.45. Wed, 19 May 2010 08:04:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude oil has fallen for five straight days amongst concerns regarding Europe's sovereign debt crisis & that it may derail global economic recovery, reducing consumption. All eyes will turn to DOE Crude Oil Inventories tomorrow at 15:30 BST. Tue, 18 May 2010 08:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contract will expire later this evening: "Crude M0" at 19:30 Tue, 18 May 2010 07:56:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Asian & U.S indices tumbled the most since February & the Euro fell to it's lowest level vs the USD since 2006 amongst concern that governmental austerity measures will threaten the economic recovery as the cost of insuring bonds from default jumped. The S&P 500 Index declined 1.1% & the Euro fell by 0.7% against the USD to a low of $1.2235. Cable also so fell 1.3% against the Dollar. Mon, 17 May 2010 08:32:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Crude Q0" contract has been released for trading. Thu, 13 May 2010 19:02:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Silver K0" contract expired last night at 18:25. Citypoint Trading closing prices were: Bid 19.61 Offer 19.65 The mid price from the exchange at 18:24:59 was 19.635 Thu, 13 May 2010 09:20:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Brent Crude M0" contract expired last night at 19:30. Citypoint Trading closing prices were: Bid 81.10 Offer 81.18 The mid price from the exchange at 19:29:59 was 81.14 Thu, 13 May 2010 09:17:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The following contracts will expire later this evening: "Silver K0" at 18:25 "Brent Crude M0" at 19:30 Wed, 12 May 2010 17:17:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Global equities bounced back reversing some of last week’s losses after European policymakers announced a loan package worth almost $1 trillion, with the volatile financial sector leading the way. Both sides of the Atlantic posted sizeable gains; whilst the VIX dumped 37%, its largest intraday decline in its two decade history. Mon, 10 May 2010 17:56:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Brent Crude N0" & "Silver N0" contracts have been released for trading. Fri, 07 May 2010 17:03:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Global markets tumbled following the triple threat of a technical hitch in Wall Street, a potential hung parliament in the UK & fears that Greece's continuing debt crisis will spread. In the European markets the FTSE fell 1%, the DAX fell 1% & the CAC fell 2.5%. The Dow Jones Industrial Average finished yesterday down 3.2% after a technical glitch was blamed for a huge sell off. Fri, 07 May 2010 11:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Whoever wins tomorrow's General Election must take immediate measures to lower the country’s huge budget deficit and stabilise the national debt, the European Commission warned today to avoid slipping into the economic disaster threatening the Greek economy. World markets slid yesterday as investors worried that Europe's debt crisis would worsen despite the weekend's £95billion bailout package for Greece. The euro took another hammering, dropping to a one-year low against the dollar. Global indices also fell sharply as the FTSE 100 fell 113.58 points, or 2.1 per cent, the DAX dropped 2.1 per cent, the CAC-40 fell 2.6 per cent and the Dow Jones was down 1.4 per cent. Wed, 05 May 2010 12:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The Reserve Bank of Australia has increased the benchmark interest rate for the sixth time in a row since early October after policy makers raised their outlook for inflation and judged the nation is insulated from Greece-sparked debt woes. Tue, 04 May 2010 11:09:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Euro-Zone Economic Confidence figures released this morning signalled a rise to the highest level in twenty four months. April's figures of Euro-Zone executive & consumer sentiment rose to 100.6 the highest level since March 2008. Thu, 29 Apr 2010 11:34:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Heating Oil K0" contract expired earlier at 19:30. Citypoint Trading's closing prices were: Bid 2.227 Offer 2.234 The mid price from the exchange at 19:29:59 was 2.2273 Wed, 28 Apr 2010 19:54:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the "Heating Oil K0" contract tonight at 19:30. Wed, 28 Apr 2010 05:53:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Natural Gas K0" contract expired last night at 19:30. Citypoint Trading closing prices were: Bid 4.263 Offer 4.283 The mid price from the exchange at 19:29:59 was 4.263 Tue, 27 Apr 2010 09:34:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the "Natural Gas K0" tonight at 19:30. Mon, 26 Apr 2010 08:23:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude oil rose for the fifth day in a row amongst speculation demand will also rise as the world recovers from recession. Crude oil traded above $85 a barrel & oil futures for June delivery rose as much as 0.5% to $85.56. All eyes will turn to U.S Consumer Confidence figures tomorrow at 12:00 BST & Crude Oil inventory figures on Wednesday at 15:30 BST. Mon, 26 Apr 2010 08:17:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Heating Oil M0" contract has been released for trading. Fri, 23 Apr 2010 16:02:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude Oil fell for the first time in three days after the European Union announced the Greek budget deficit in 2009 was worse than previously expected forcing indices and the Euro lower. Oil was down to $83 a barrel as the Dollar climbed against the weakening Euro. Commodities as a hedge against inflation were less appealing as a result. Crude Oil for June delivery fell as much as 1% to $82.88 a barrel. Thu, 22 Apr 2010 13:47:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Copper K0" contract expired last night at 18:00. Citypoint Trading's closing prices were: Bid 352.42 Offer 354.42 The mid price from the exchange at 17:59:59 was 353.42 Thu, 22 Apr 2010 08:45:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Airports in the United Kingdom have reopened after the government and aircraft manufacturers concluded that the remnants of the ash cloud from Iceland are now not affecting flights. Airspace restrictions began easing yesterday morning, air-traffic control services resumed except Northwest Scotland, where a "dense concentration" of ash remained. Wed, 21 Apr 2010 08:59:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Coffee "C" K0" contract expired last night at 19:00. Citypoint Trading's closing prices were: Bid 128.15 Offer 130.15 The mid price from the exchange at 18:59:59 was 129.15 Wed, 21 Apr 2010 07:49:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the "Coffee "C" K0" tonight at 19:00. Tue, 20 Apr 2010 13:15:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Crude K0" contract expired last night at 19:30. Citypoint Trading's closing prices were: Bid 83.19 Offer 83.25 The mid price from the exchange at 19:29:59 was 83.22 Our "Corn K0" contract expired last night at 19:15. Citypoint Trading's closing prices were: Bid 360.25 Offer 363.25 The mid price from the exchange at 19:14:59 was 361.75 Our "Wheat K0" contract expired last night at 19:15. Citypoint Trading's closing prices were: Bid 487.75 Offer 490.50 The mid price from the exchange at 19:14:59 was 489.25 Our "Soybean K0" contract expired last night at 19:15. Citypoint Trading's closing prices were: Bid 983.25 Offer 983.25 The mid price from the exchange at 19:14:59 was 981.50 Sat, 17 Apr 2010 11:17:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Copper N0" contract has been released for trading. Fri, 16 Apr 2010 16:21:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Gold & Commodities fell the most since February upon news that U.S regulators have filed a fraud suit against Goldman Sachs - one of Wall Streets biggest players in brokerage & trading in raw materials. The Securities & Exchange Commission (SEC) have charged Goldman with allegedly creating & selling securities linked to sub prime mortgage-backed securities. Fri, 16 Apr 2010 12:37:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Cocoa K0" contract expired last night at 19:00. Citypoint Trading's closing prices were: Bid 2878 Offer 2888 The mid price from the exchange at 18:59:59 was 2881 Fri, 16 Apr 2010 07:09:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Gold J0" contract expired this evening at 18:30. Citypoint Trading's closing prices were: Bid 1159.00 Offer 1159.50 The mid price from the exchange at 18:29:59 was 1159.15 Wed, 14 Apr 2010 18:37:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "CAC J0" contract expired this evening at 18:30. Citypoint Trading's closing prices were: Bid 4070 Offer 4075 The mid price from the exchange at 18:29:59 was 4072.5 Wed, 14 Apr 2010 18:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Precious metals rose as the U.S Dollar weakened today. Gold climbed halting it's two day decline & Palladium rose to it's highest level since the first quarter of 2008. As the Dollar weakened the appeal of precious metals as an alternative investment rose. Spot Gold rose 0.6% to as high as $1,157.63 an ounce. The U.S Dollar Index, the basket of six currencies that tracks the value of the U.S Dollar fell for the fourth day in a row, amongst speculation the Fed will maintain interest rates at it's record low. Wed, 14 Apr 2010 13:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the "Gold J0" & "CAC J0" contracts at 21:00 & 18:30 respectively tonight. Wed, 14 Apr 2010 09:43:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Brent Crude K0" contract expired yesterday evening at 19:30. Citypoint Trading's closing prices were: Bid 84.68 Offer 84.76 The mid price from the exchange at 19:29:59 was 84.72. Tue, 13 Apr 2010 19:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Corn N0", "Soybean N0" & the "Wheat N0" contracts have been released for trading. Tue, 13 Apr 2010 12:19:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Commodities, including Crude oil fell on news that Alcoa Inc, the largest Aluminum maker in the world, reported disappointing sales figures. Prices also reacted on news that China withdrew from Yuan revaluation. Alcoa Inc. fell 3.3%. Chinise Premier Hu Jintao met with Barack Obama in Washington and quelled rumours that China will move to strengthen the Yuan. Alcoa's earnings announcement, comes at the start of U.S earnings season, which will give a true indicator of how the world economy is recovering from the credit crisis of 2008. Tue, 13 Apr 2010 12:10:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the following contracts later this evening: "Brent Crude K0" at 19:30. Tue, 13 Apr 2010 11:01:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Cocoa N0" contract has been released for trading. Mon, 12 Apr 2010 16:38:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Copper rose to the highest level since 2008 after China's imports surged. Copper futures rose as much as 1.5% to over $8,000 a metric ton the highest level since the beginning of August 2008. Imports of Copper in China, the world's biggest consumer, rose 42% last month since February. Mon, 12 Apr 2010 08:52:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Brent Crude M0" contract has been released for trading. Thu, 08 Apr 2010 13:50:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Corn & wheat declined as the U.S Dollar rose forcing up the price of U.S crops for importers. Prices rose also on news that global supplies of grains may be higher than earlier predictions. Wheat futures for July delivery lost 0.8% & Corn futures for May delivery fell 0.4%, whilst the U.S Dollar Index gained for the third day in a row Thu, 08 Apr 2010 09:59:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Crude oil traded as high as $87 a barrel as it climbed to a seventeen month high after increasing signs that the U.S economic growth is gathering pace. All eyes will look ahead to this afternoon's DOE inventory report. Last night's American Petroleum Institute inventory figure rose 1.07m barrels, analysts are predicting an increase in stockpiles of 1.35M barrels later today. As Crude prices rise speculation will continue as to whether the world's biggest energy consumer is continuing to recover from it's worst post-war recession. Wed, 07 Apr 2010 08:40:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx The Reserve Bank of Australia raised its benchmark interest rate to 4.25% and hinted at further increases. The overnight cash rate went up from 4%, this is the fifth increase in six meetings. The Australian Dollar rose after the announcement, the bank announced today's rise were further steps in returning lending levels to pre-credit crisis levels. The RBA's announcement is an indication that inflation & house price increases will rise without more monetary restraint. Tue, 06 Apr 2010 07:38:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We are pleased to announce that the new "Sugar "11" N0" contract has been released for trading. Wed, 31 Mar 2010 10:53:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the "Platinum J0" contract at 18:05 tonight. Wed, 31 Mar 2010 07:21:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx World sugar prices are heading for the biggest quarterly drop in twenty five years. The slump will potentially continue as both India & Brazil are witnessing larger harvests for next year. Raw sugar cane could drop as much as 16% by the middle of 2010. Raw sugar has so far fallen as much as 47% this year from its high of 30.4 cents at the beginning of February. Wed, 31 Mar 2010 07:13:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Our "Heating Oil J0" contract expired yesterday evening at 18:30. Citypoint Trading's closing prices were: Bid 2.119 Offer 2.126 The mid price from the exchange at 19:29:59 was 2.1194. Mon, 29 Mar 2010 19:35:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx We will expire the "Heating Oil J0" contract at 19:30 tonight. Mon, 29 Mar 2010 11:44:00 +0000 http://www.citypointtrading.com/traders-lounge-forex-cfds/financial-market-news.aspx Worldwide equities & commodities rose as the U.S Dollar and Yen weakened against the Euro following the news that Greece's fiscal deficit concerns have abated. Futures on the S&P 500 Index rose 0.6%, Crude oil rose 0.9% to over $80 a barrel and copper rose 2.1%. The Yen fell against the Australian Dollar & the Kiwi Dollar. European Union consumer confidence figures have risen after last week's decision by the IMF & E.U leaders to pledge financial assistance to the Greek budget deficit. Mon, 29 Mar 2010 10:28:00 +0000