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  1. #1
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    OIL & GOLD affect the U.S. Dollar ..??

    Previously based on the approval of Bretton
    Woods in 1944, the international monetar system (SMI) at
    fixed exchange rate system (fixed Exchange Rate). In this case USD Convertible
    or can be exchanged and fully guaranteed with gold, the equivalent of USD35 provisions 1 troy once of gold.

    Nixon Presidential Decree dated August 15, 1971 states that the value
    USD exchange rate is no longer associated with Gold. This system is called the
    floating exchange rate system (floating rate system) With the enactment
    This system of movement of the country's currency is determined by the mechanism
    supply and demand in the market.

    Oil and gold prices world if associated with currency movements
    is as follows.

    U.S. is known as a country that needs oil consumption
    large enough world, so the U.S. dollar is often called the Petro
    Dollar. Rising world oil prices will indirectly affect
    also on the rise harga2 production and consumption rates in the U.S. barang2.
    This barang2 price hikes could trigger inflation which
    makes further U.S. dollar exchange rate in the market tend to be depressed.
    Therefore, market participants always kept the price movement mementau
    world oil and U.S. oil inventories. Because small changes in both
    trsebut things can affect significantly the indigo trade USD.

    Gold prices tend to be inversely proportional to the price of oil, if the price
    gold up the oil price will fall. Gold is one of
    The most commodities are traded in the world, other than that the value
    gold exchange relatively similar in different countries. Therefore many
    vietnam pengungsi2 fleeing to the United States took gold in the
    refuge, because the relative value of gold is fixed, try if the
    that refugees bring to their country of currency in the U.S.,
    they will not be ... because napa2in vietnam currency is not sold in the U.S..

  2. #2
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    Re: OIL & GOLD affect the U.S. Dollar ..??

    JPMorgan Chase & Co. said Brent crude oil may trade in the $70-$78 range in the near term as stocks build and product demand falls over uncertainties about the global economic recovery.

    “Over the next six weeks the short-term seasonal issues seem set to cap the price,” Lawrence Eagles, a New York-based analyst for the U.S. bank, said in the report, dated yesterday. “There is a high risk that crude prices will spike to the upside at the end of the second quarter -- and perhaps even move into backwardation,” a condition when nearby futures are more costly than longer-dated ones.

    Crude oil may rise next week as cold U.S. weather bolsters heating-oil consumption and reduces stockpiles of the fuel, a Bloomberg News survey showed. Crude oil for March delivery fell 0.3 percent to $75.04 a barrel on the New York Mercantile Exchange.

    The International Energy Agency yesterday raised its forecast for global oil demand this year by 170,000 barrels a day to 86.5 million barrels a day, or 1.8 percent, from 2009 levels, it said.

  3. #3
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    Re: OIL & GOLD affect the U.S. Dollar ..??

    Commitments of Traders:

    Crude Oil: Net speculative long positions plunged more than -50% to 42.1K contract in the week ended February 9. Traders liquidated long positions while short positions surged as risk appetite was hurt amid sovereign crisis in the Eurozone. Decline in net longs may stabilized in the coming week but near-term outlook remains dismal amid sluggish fundamentals and uncertain policy changes in China, Europe and the US

    Gold: Net speculative long positions slid for the 4th consecutive week to 181.5K contracts. USD rallied against major currencies amid concerns on sovereign default risk. Due to traditional inverse correlation between gold and USD, pressure on gold as the dollar strengthened is inevitable

  4. #4
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    Re: OIL & GOLD affect the U.S. Dollar ..??

    Rise in Risk Appetite Drives Commodities Higher

    Crude oil remains firm after the strong rally yesterday. Currently trading at 77.2, the front-month contract for WTI crude faltered below 78 in European morning. With the lack of industry-specific data, oil prices are boosted by recovery in market sentiment and weakness in USD.

    Stock markets also advance. In Asia, the MSCI Asia Pacific Index soared +1.8%, the biggest rise since November 30. Benchmark indices in Japan and Australia rose more than +2%. While China's stock is closed all week due to lunar new year holiday, Hong Kong's Hang Seng Index added +1.8% after a 2-day holiday.

    In Europe, equities also rise despite some poor economic data. In the UK, Claimant counts jumped +23.5K to 1.64M in January. The reading does not only caught the market in surprise as consensus forecasts a -10K decline in claims, but was also the highest level since April 1997. The Claimant count rate stayed flat at 5% in January while the ILO unemployment rate was 7.8% in the 3 months through December, also same as a month ago.

    Read the rest here ......
    Oil Prices Rallied as Sentiment Improved

    Despite thin trading volume, crude oil jumped to a 2-week high at 77.42 Tuesday. The +4% surge is the strongest one-day rally since September 30 when the black gold gained +5.8%. Brent crude's rise was sharper, by +4.4%, and settled at 75.68. Others in the energy complex also soared with heating oil rise +4.1% and gasoline by +3.6%. Both API's estimates and US Energy Department's inventory report are delayed by 1 day due to US public holiday on February 15.

    Strength in energy market was driven by decline in USD and revived confidence on economic recovery after encouraging Empire manufacturing index released yesterday.

    The dollar index slid to 79.7 Tuesday as currencies including euro, pound, Australian dollar, etc rose on better market sentiment.

    Read the rest here ......
    Gold Daily Technical Outlook

    Gold's rise from 1044.5 extends further to as high as 1124.6 so far today. While the rebound is strong, it's still limited below 1126.4. And we'd slightly prefer to case that gold as not bottomed yet. Below 1077.3 minor support will indicate that such rebound have completed and will bring fall resumption for another low below 1044.5. However, note that firm break of 1126.4 resistance will argue that correction from 1227.5 has already completed and will turn focus to 1163 resistance for confirmation.

    Read the rest here ......
    Crude Oil Daily Technical Outlook

    Crude oil's rebound from 69.50 extended further to as high as 77.56 and remains firm. Break of 78.04 resistance will argue that whole fall from 83.95 has finished and will bring even stronger rally to retest 83.95 high. Nevertheless, before that, there is no confirmation of reversal yet. Below 72.60 will suggest that rebound from 69.50 has completed and fall from 83.95 should then be resuming for 69.50 support and below.

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