Crude oil futures slightly higher but still below $95

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Source: Marketwatch

Crude oil futures edged up during the electronic trade on Tuesday recovering part of the previous losses. On Globex, light, sweet crude oil futures for delivery in January added 57 cents to $94.45 during the Asian afternoon trade, gaining 0.6% since opening. The markets were affected by pessimistic economic outlook but the oil is pure exception having the largest number of net long positions thus indicating vulnerability to negative news, said Tim Evans, an energy analyst at Citi Futures Perspective.

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Tue, 20 Dec 2011 12:40:22 GMT

Japan to buy Chinese bonds

Japan is considering possible acquisitions of Chinese sovereign bonds. Japan is willing to diversify its foreign-exchange assets, said Jun Azumi, Japanese FM. Azumi considers investing in China's debt as mutually beneficial deal. Japanese PM Yoshihiko Noda claimed that Japan should be able to invest in second-biggest economy given that China is purchasing Japan's debt. 

Tue, 20 Dec 2011 12:37:32 GMT

Gold edges higher

Gold prices found support in the failure of the EU financial officials to allocate EUR200 billion to IMF. The failure to allocate enough funds increased the concerns over the Euro Zone thus rising gold's appeal as safe haven asset. The gold futures traded at USD1,602.65 a troy ounce on the Comex division of the New York Mercantile Exchange, gaining 0.37%.

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