Energy commodities fell after EIA report

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Source: Dukascopy Bank
Energy commodities fell on Wednesday amid firmer US Dollar and EIA report on the US crude oil inventories. The EIA announced a 9 billion barrel increase in the US inventories. Spain and Italy's bond auctions that faced weak demand and rising yields also added to the negative mood of the commodity pack as the Euro Zone's economic activity may slump further. However, Brent and crude oil futures may draw some strength as low prices are likely to stimulate bargain buying. At the same time, natural gas lost 2.1% as traders are cautious ahead of the EIA report on natural gas storage. However, slightly cooler weather in the US limited the downside of the commodity.


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Thu, 05 Apr 2012 19:22:23 GMT

Coffee declined as crop prospects improved

Rural commodities, except for sugar, were lower on Wednesday along with stronger US Dollar and softer global equities. Wheat was the top-loser, declining for the second time as output in Southern US Great Plants is likely to soar on favorable weather.  Moreover, the EU forecast predicted rains after dry weather that is expected to boost crops. Corn's tumble was capped

Thu, 05 Apr 2012 17:53:23 GMT

Precious metals continued to tumble on Wednesday

Precious metals continued their tumble for the second consecutive day on Wednesday as hopes for further easing measures in the US disappeared. Broadly stronger US Dollar and weaker global equities also weighted down on the commodity group. Lingering concerns over the Euro Zone's economic state after disappointing Spain and Italian bond auctions created a downward pressure on precious metals. Gold

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