Latest News: Page 87

23

Jun

Ahead of UK Referendum Today

The official announcement regarding whether the UK will leave (Brexit) or remain (Bremain) in the EU will only be released on Friday (24/6). However, [...]

Ahead of UK Referendum Today. The official announcement regarding whether the UK will leave (Brexit) or remain (Bremain) in the EU will only be released on Friday (24/6). However, the results of the quick count will increase market volatility and could be used as a trading opportunity.
The results of the latest telephone survey conducted by ComRes indicate that the `remain` group is at 48%, ahead of the `leave` group at 42%. At the same time, YouGov also announced similar conclusions with the `remain` group at 51% and the `leave` group at 49%.
The two results caused GBPUSD to strengthen today. However, the final results of the referendum are still uncertain due to the small margin and swing voters. The ComRes survey indicates that the number of respondents who are undecided is at 11%.
The movement of gold and the yen as safe havens will also be greatly affected by the UK referendum. If the quick count results indicate that `remain` is in the lead, gold and the yen will likely weaken, while if `leave` wins it is likely that gold and the yen will strengthen.
For the record, the UK referendum is scheduled to start today at approximately 13:00 WIB and will end at approximately 04:00 WIB on Friday, 24 June. Vote counting will be done immediately and the results for some areas are expected to be announced starting at 07:30 WIB on Friday, 24 June. The final results, following the official announcement, are expected to be available at 13:00 WIB.

(Source: Monexnews.com-AS)

Crude Oil Market Softens After EIA Report

23

Jun

Crude Oil Market Softens After EIA Report

Investors also braced for market volatility as the US dollar fluctuated amid uncertainty over the UK's continued membership of the European Union. US [...]

Crude Oil Market Softens After EIA Report. Investors also braced for market volatility as the US dollar fluctuated amid uncertainty over the UK's continued membership of the European Union.
US crude supplies fell by 917,000 barrels last week, according to the Energy Information Administration (EIA), undershooting expectations for a draw of 1.7 million barrels and only a third of the 5.2 million-barrel drop reported by the American Petroleum Institute (API).
Gasoline demand hit a record high last week, the EIA said. As the US driving season gets underway, demand for gasoline averaged 9.815 million barrels per day. US gasoline demand has risen by 4.1% year-on-year. A pick-up in demand should act as a sentiment boost for crude, as it could help to eat into the oversupply that has been weighing on the market.
Crude prices settled at $49.00 a barrel on Wednesday, down $1.20 from their previous close. The technical picture suggests crude could weaken in the short term, with immediate support seen around the 48.10 area, and resistance at 49.80.
(Source: Monexnews.com)

CPO Price on June 23 Has Potential to Rise

23

Jun

CPO Price on June 23 Has Potential to Rise

For predicting Malaysian CPO trading tomorrow, Thursday (June 23), it is important to consider the key market sentiments that drive CPO prices, which [...]

23

Jun

Oil prices fall again

Data from the US Energy Information Administration was "disappointing across the board" with a moderate draw in crude stockpiles but a surprising [...]

Oil prices fall again. Data from the US Energy Information Administration was `disappointing across the board` with a moderate draw in crude stockpiles but a surprising build in gasoline stocks, Houston energy consultant Andy Lipow told AFP.    The US benchmark West Texas Intermediate (WTI) for August delivery fell 72 cents to $49.13 a barrel on the New York Mercantile Exchange. In London, Brent North Sea crude for August delivery shed 74 cents to settle at $49.88 a barrel. US gasoline reserves stood at 237.6 million barrels in the week to June 16, the Department of Energy said in its weekly petroleum reserves report, up 0.1 percent from the previous week and 8.8 percent higher than the same period last year. The summer driving season is approaching its peak in the United States. Like financial markets, the oil market is anxiously awaiting the outcome of Britain's referendum on Thursday on whether to leave or remain in the European Union. US stocks fell in afternoon trading after a poll showed the `Leave` camp had pulled slightly ahead. Oil prices have rallied back to the $50 range since tumbling to near $25 a barrel in February, as supply disruptions in Canada and Nigeria have eased concerns about a global supply glut. (Uu.A026)            
Editor: Maryati
http://www.antaranews.com/berita/569264/harga-minyak-turun-lagi

Fed holds rates steady, U.S. dollar weakens

16

Jun

Fed holds rates steady, U.S. dollar weakens

The dollar index, which measures the greenback against six major currencies, fell 0.59 percent to 94.366 in late trading. In a statement on [...]

Fed holds rates steady, U.S. dollar weakens. The dollar index, which measures the greenback against six major currencies, fell 0.59 percent to 94.366 in late trading. In a statement on Wednesday, Fed officials gave mixed assessments of the U.S. economy, saying that the pace of job gains has slowed while growth in economic activity appeared to have picked up since April. The central bank raised its target range for the federal funds rate to 0.25 percent to 0.50 percent in December last year, the first rate hike in nearly a decade. But financial market turmoil and a slowdown in the global economy since the start of this year have raised concerns about the strength of the U.S. economy, prompting Fed policymakers to hold off on any further rate increases since then. On the economic front, the Producer Price Index (PPI) for final demand increased 0.4 percent in May, seasonally adjusted, beating market consensus, the U. S. Department of Labor reported Wednesday. Meanwhile, U.S. industrial production decreased 0.4 percent in May after rising 0.6 percent in April, the Fed said Wednesday. In late New York trading, the euro rose to 1.1267 dollars from 1.1212 dollars in the previous session, and the British pound increased to 1.4170 dollars from 1.4116 dollars. The Australian dollar was up to 0.7419 U.S. dollar from 0.7362 dollar. The U.S. dollar bought 105.76 Japanese yen, lower than 106.06 yen in the previous session. The U.S. dollar fell to 0.9614 Swiss francs from 0.9630 franc, and it edged up to 1.2907 Canadian dollars from 1.2860 Canadian dollars. 
Editor: Ade Marboenhttp://www.antaranews.com/berita/567733/the-fed-pertahankan-suku-bunga-stabil-dolar-amerika-serikat-melemah

Ahead of Eid, RNI Ensures Stable Sugar Prices and Supplies

15

Jun

Ahead of Eid, RNI Ensures Stable Sugar Prices and Supplies

At the moment, the sugar price in the market exceeds Rp15,000 per kilogram. RNI acknowledges that consumption of granulated sugar increases near the [...]

Ahead of Eid, RNI Ensures Stable Sugar Prices and Supplies. At the moment, the sugar price in the market exceeds Rp15,000 per kilogram. RNI acknowledges that consumption of granulated sugar increases near the Eid al-Fitr celebration so, RNI has increased the stock of sugar in the market, particularly in West Java by 400 tons. After West Java, other regions will also have their sugar supply increased by RNI.
`Tomorrow, we will distribute 400 tons in the West Java market. We gradually distribute the sugar to various regions,` Head of Business and Investment Development at RNI Agung P Murdanoto said during the visit with the Indonesian Chamber of Commerce and Industry, at Thamrin City, Central Jakarta, Tuesday (5/14/2016).
Agung emphasized that the sugar price in the market will be ranging from Rp12,500 to Rp13,000 per kilogram.
`Effective tomorrow, we will distribute the sugar, and consumers can start to buy the sugar for Rp12,500 to Rp13,000 per kilogram,` Agung explained.
Regarding the production, RNI gave assurances that all of its sugar factories have been operating since the beginning of June, and the stock shortage that occurred some time ago was due to production delays.
`58 sugar factories started milling early June, so even if there was a temporary shortage in May because production had not begun, the shortage has ended,` Agung concluded.
http://bisniskeuangan.kompas.com/read/2016/06/14/143000826/Jelang.Lebaran.RNI.Jamin.Harga.Gula.Pasir.Stabil.dan.Pasokan.Aman
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