Retail Price Index and Commodity Tips

Information about Retail Price Index and Commodity Tips

Published on May 20, 2014

Author: speak2earth

Source: authorstream.com

Content

PowerPoint Presentation: Reta i l Price I n d ex and Comm o d ity T i p s Cr u de Oil Co m mod i ty w e had a d iver g e n t view in t he t w o yeste r d ay o w i n g to high mo ve me n t in t h e R u p ee. I n dian R u p ee o v e r t h e la s t f ew days had been a majo r d river f o r local p rices re ce ntly a n d w e th o u g h w i t h R u p ee co n t i nu i ng a p p re c ia t e, local p ri c es w ould c o n ti n u e to un d erp e r f o r m W T I C r u d e. Whi l e w e saw m od e r a t e u nd e r p e r fo rm a n ce i n l o c al o il, i t t oo la ter a d van ced i n - t un e to t h e US c on tra c t. O v erall t here a r e n o t m u c h c u es to b e w a t ched fo r th e c o m mod i ty t od a y as w e h ave no maj o r d a ta p oi n t to b e t r ac k ed f rom t h e US. W e f e el oil p rices m igh t s e e ra n g e d mo vemen t t o d ay w i t h a n um ber of ec o nomic c u es f rom E u ro is mig h t d rive som e vol a tili t y in t h e a fternoon sessi o n. La t er in t he US h o u rs, t h ough b ro a d bias is li kely to rema i n p osit ive w hile tra d e rs w ould m a jo rly a w ait t h e A PI i n v e n t o ry r e p o r t. S t o c k s are exp e c ted to sho w c o n ti n u ed drawd o w n in Cush i n g f r o n t w h i le c r u d e a n d ga s oli ne i n ve n tories mig h t also s ho w som e decli n e as w e near t h e su mm e r driv i n g seas o n. W e h ave a buy i n g v i ew in t he c o m m odi t y f rom lower l evels t od ay Glo b al Mar k et A n alysi s: Th e Asian e qu i ties a r e tr a di n g mos t ly hi g h er this mo r ni n g ta k i ng positive c u es o u t of th e US sto ck mar ke ts th a t e n d ed hi g h er o ve r nig h t. F r o m th e c u r r e n cy s pace the doll a r i n dex has m a naged to c law back fr o m yeste r day’s 7 9 . 8 8 low a n d c ur r e n tly tr a di ng f irm a bo ve th e 80 m ar k . At t h e sa m e ti me t h e E u ro a n d t h e po u nd st erli n g a r e q uo t i n g a t 1.3 7 1 2 a nd 1.6 8 1 7 leve l s c o rre spo n di n gly, s c ar c ely a n y c ha n ge f rom th e p re ce d i n g c lose. In t o th e e n ergy b as ke t, w e gave a buy i n g view in t he NY M EX oil ba c k ed b y d ece n t su p po r t f r o m B rent o il w hile US i n v e n tory ex pecta t i ons a r e al s o p rov i d ed an u p p er h a nd to th e b lack li q ui d . We w ou l d mai ntain a b uy i n g on d i ps c all i n t he NY MEX a nd MCX c r u d e fo r t h e day. Eco n om i c d a ta – T h ere are a f ew num bers f rom G erma n y a nd l o t t o w a t c h f r o m th e UK. T here a r e no majo r c u es f r o m th e US t od ay Na t u r a l G a s Comm o d i ty w hile t here w ere n o m ajo r u pd a tes fo r t h e c o m modi t y on M o nd ay, i t w e nt aga i nst ou r c all o f selli n g to c lose t h e d ay h igh er. We h a d b een ma i n ta i ni n g a sell i n g view in s ho r t - t erm b ac k ed b y a n tic i p a ti o n t h at u s ually sta b le tempera t u res in t h e US dur i n g t his time of t he year w ou l d lead t o lower c on s um ption e i ther f o r h e a ti n g o r c ool i n g pu r pose. Effe c t o f PowerPoint Presentation: sub d u ed d em a nd a n d r ise in s u p ply c an al s o b e se e n on th e i n ve n t o ry f ron t, w hi c h rose fo r thi r d w eek as p er la t e s t d a t a, w i t h rea d i n g b y E IA sta n di n g at 1 0 5 B CF. While w e a r e ma i n ta i ni ng a similar view fo r t he day as w ell, w e are a d d i n g a risk f ac t o r based o n th e u p d ated c lim a te a n d te m p er a t u re f o re c ast b y t h e US CP C . T he 6 -10 d ays tempera t u r e es t imate b y CPC de p i c t s i n crease i n w arm ness a n d t hus mig h t l ead t o gr a dual i n crease in c ooli n g deman d. Whi l e th e effe c t of t he same c ould o nly be se e n in case t he heat w av e s e n h a n c e; w e ho l d a c a u t i ously sell i n g ap p roach v i ew i n th e c omm o di t y t o d ay Commo d i t y T i ps B u y Crude Oil Mc x J un o n D i ps n ear 5 9 8 5 sl 5 9 5 0 T gt 6 0 4 0 B u y S u gar Nc d ex J un e ab o ve 3 0 45 sl 3 0 25 T gt 3 0 7 0

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