CFD Markets News and Forecasts — 03-10-2014

Brent crude headed for a bear market on speculation rising global supplies will be more than enough to meet slowing demand.

Prices fell for a fourth day after closing almost 20 percent below their June peak yesterday, a common definition of a bear market. OPEC September oil production rose to a one-year high and Saudi Arabia cut prices this week. U.S. output is near the highest since 1986. The Brent-West Texas Intermediate spread earlier shrank as a government report showed U.S. non-farm payrolls rose more than expected last month.

"Supply is plentiful and demand is not keeping up with supply now," said Tariq Zahir, a New York-based commodity fund manager at Tyche Capital Advisors. "That's the fundamental equation and it looks more likely that we'll continue to go lower."

Brent for November settlement slipped $1.42, or 1.5 percent, to $92 a barrel at 10:35 a.m. New York time on the London-based ICE Futures Europe exchange. The volume of all futures traded was about 16 percent above the 100-day average. Prices have decreased 5.2 percent this week.

West Texas Intermediate crude for November delivery fell $1.14, or 1.3 percent, to $89.87 a barrel on the New York Mercantile Exchange. It traded below $90 yesterday for the first time since April 2013. Prices have slipped 3.9 percent this week. The U.S. benchmark earlier fell to a discount of as little as $1.51 to Brent on ICE, the smallest gap since August 2013, before widening out.

Gold prices fell sharply against the dollar strengthening after strong labor market data the United States.

Job growth accelerated in September, and the unemployment rate fell below 6% for the first time since mid-2008, suggesting that the labor market is improving faster than previously thought. This was stated in the report of the United States Department of Labor.

According to the data, at the end of last month the number of people employed in non-agricultural sectors increased from a seasonally adjusted 248 thousand., The highest since June of this year. We also add that the growth in August was revised upward - up to 180 thousand. With 142 thousand., And the figure for July - up to 243 thousand. With 212 thousand. Unemployment rate, meanwhile, fell to 5.9% last month from 6.1% in August, reaching the lowest level since July 2008. Economists had expected the number of employees will increase by 216 thousand., And the unemployment rate will remain unchanged.

Today's report suggests that the labor market resumed its steady growth as seen in the late spring and early summer, after the decline in August.

The world's largest reserves of the gold-exchange-traded fund SPDR Gold Trust on Thursday fell by 1.19 tonnes to 767.47 tonnes - the lowest level since December 2008.

The cost of the December gold futures on the COMEX today dropped to 1191.20 dollars per ounce.

EUR/USD: $1.2650(E711mn), $1.2700(E2.39bn), $1.2725-35(E900mn), $1.2750(E1.2bn), $1.2800(E865mn)

USD/JPY: Y107.50($782mn), Y107.75($350mn), Y108.00($200mn), Y108.75($205mn), Y109.00($671mn)

GBP/USD: $1.6200(stg636mn), $1.6300(stg822mn), $1.6350(stg533mn)

EUR/GBP: stg0.7750(E200mn), Stg0.7800(E190mn), stg0.7850(E230mn), $0.7875(E190mn), stg0.7900(E300mn)

USD/CHF: Chf0.9400($360mn), Chf0.9600($156mn)

USD/CAD: C$1.1000($915mn), C$1.1075($570mn), C$1.1100-05($405mn), C$1.1150-55($620mn)

U.S. stock futures advanced as a better-than-forecast payrolls report boosted confidence in the world's largest economy.

Global markets:

Nikkei 15,708.65 +46.66 +0.30%

Hang Seng 23,064.56 +131.58 +0.57%

FTSE 6,513.45 +67.06 +1.04%

CAC 4,268.57 +25.90 +0.61%

DAX 9,195.68 -186.35 -1.99%

Crude oil $90.61 (-0.45%)

Gold $1199.50 (-1.27%)

(company / ticker / price / change, % / volume)

Upgrades:

Downgrades:

Apple (AAPL) downgraded to Hold from Buy at Deutsche Bank

Other:

EUR/USD

Offers $1.2820/30, $1.2800, $1.2780/85, $1.2760, $1.2700

Ордера на покупку $1.2560/50, $1.2500

GBP/USD

Offers $1.6425/30, $1.6400/10, $1.6325/30, $1.6285, $1.6190/00

Bids $1.6050, $1.6000

AUD/USD

Offers $0.8900, $0.8850

Bids $0.8760, $0.8700, $0.8660, $0.8650, $0.8600

EUR/JPY

Offers Y140.00, Y139.70, Y139.10, Y138.80, Y138.00

Bids Y137.00, Y136.85, Y136.60

USD/JPY

Offers Y111.00, Y110.10, Y109.20

Bids Y108.00, Y107.65, Y107.40

EUR/GBP

Offers stg0.7900, stg0.7890, stg0.7860

Bids stg0.7800, stg0.7755/45, stg0.7700

EUR/USD: $1.2650(E711mn), $1.2700(E2.39bn), $1.2725-35(E900mn), $1.2750(E1.2bn), $1.2800(E865mn)

USD/JPY: Y107.50($782mn), Y107.75($350mn), Y108.00($200mn), Y108.75($205mn), Y109.00($671mn)

GBP/USD: $1.6200(stg636mn), $1.6300(stg822mn), $1.6350(stg533mn)

EUR/GBP: stg0.7750(E200mn), Stg0.7800(E190mn), stg0.7850(E230mn), $0.7875(E190mn), stg0.7900(E300mn)

USD/CHF: Chf0.9400($360mn), Chf0.9600($156mn)

USD/CAD: C$1.1000($915mn), C$1.1075($570mn), C$1.1100-05($405mn), C$1.1150-55($620mn)

EUR / USD

Resistance levels (open interest**, contracts)

$1.2804 (3228)

$1.2761 (2911)

$1.2702 (1706)

Price at time of writing this review: $ 1.2653

Support levels (open interest**, contracts):

$1.2592 (4696)

$1.2547 (2743)

$1.2499 (2380)

Comments:

- Overall open interest on the CALL options with the expiration date October, 3 is 68747 contracts, with the maximum number of contracts with strike price $1,3000 (4814);

- Overall open interest on the PUT options with the expiration date October, 3 is 63197 contracts, with the maximum number of contracts with strike price $1,3000 (5542);

- The ratio of PUT/CALL was 0.92 versus 0.97 from the previous trading day according to data from October, 2

GBP/USD

Resistance levels (open interest**, contracts)

$1.6400 (1894)

$1.6300 (1941)

$1.6201 (1066)

Price at time of writing this review: $1.6132

Support levels (open interest**, contracts):

$1.6098 (3350)

$1.6000 (1858)

$1.5900 (1703)

Comments:

- Overall open interest on the CALL options with the expiration date October, 3 is 34357 contracts, with the maximum number of contracts with strike price $1,6700 (3648);

- Overall open interest on the PUT options with the expiration date October, 3 is 41214 contracts, with the maximum number of contracts with strike price $1,6300 (4530);

- The ratio of PUT/CALL was 1.20 versus 1.27 from the previous trading day according to data from October, 2

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.