Security risks weigh on markets... Oil up 2 per cent ahead of US stockpile data... Commodities under pressure but silver could be about to boom...
Security risks weigh on markets
Investors are becoming increasingly concerned about security across the world in the wake of the Paris attacks last week and news of two Paris-bound flights from the US being diverted on security fears.
Asian markets have closed with losses with the exception of Sydney and Tokyo. Shanghai closed lower despite improved data for the housing market with home prices slowly recovering.
Europe’s main indexes are trading lower so far. France’s security forces have carried out a series of raids on suspected terrorists in Paris and risk-averse investors are playing it safe.
Wall Street and Toronto are expected to open slightly lower.
Oil up 2 per cent ahead of US stockpile data
Official US oil stocks data will be revealed Wednesday but so far oil prices are up more than 2 per cent. Industry group American Petroleum Institute said late Tuesday that higher refinery output and lower imports meant a drop last week of 482,000 barrels according to Reuters. The report was not in line with analysts’ expectations and official data will be in focus. Long term forecasts are for lower prices to continue through 2017.
Commodities under pressure but silver could be about to boom
Prices of steel, copper, gold and of course oil are just some of those under pressure in the current state of the global economy. However silver could be about to get a boost from a burgeoning industry. CNBC reports that the metal’s use in solar panels is driving new demand by an industry that is set to expand in the next five years. An analyst from Capital Economics highlights that the solar industry has increased by 53 per cent per year over the past decade and China is one of the nations ramping up manufacturing. Each gigawatt of electricity requires 2.8 million ounces of silver.
Investors are becoming increasingly concerned about security across the world in the wake of the Paris attacks last week and news of two Paris-bound flights from the US being diverted on security fears.
Asian markets have closed with losses with the exception of Sydney and Tokyo. Shanghai closed lower despite improved data for the housing market with home prices slowly recovering.
Europe’s main indexes are trading lower so far. France’s security forces have carried out a series of raids on suspected terrorists in Paris and risk-averse investors are playing it safe.
Wall Street and Toronto are expected to open slightly lower.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,489.50 (+0.04 per cent) | +1.59 per cent | -1.12 per cent |
| TSX Composite | 13,280.39 (-0.28 per cent) | -4.03 per cent | -11.30 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 6,245.23 (-0.38 per cent) | -2.08 per cent | - 6.91 per cent |
| German DAX | 10,903.37 (-0.62 per cent) | +7.91 per cent | +15.30 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,715.58 (-1.14 per cent) | +5.14 per cent | +46.20 per cent |
| Japan Nikkei | 19,649.18 (+0.09 per cent) | +7.42 per cent | +13.29 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 44.48 (+2.09 per cent) |
41.31 (+1.57 per cent) |
1069.20 (-0.06 per cent) |
U$0.7513 |
| Aus. Dollar |
|||
| U$0.7110 | |||
Oil up 2 per cent ahead of US stockpile data
Official US oil stocks data will be revealed Wednesday but so far oil prices are up more than 2 per cent. Industry group American Petroleum Institute said late Tuesday that higher refinery output and lower imports meant a drop last week of 482,000 barrels according to Reuters. The report was not in line with analysts’ expectations and official data will be in focus. Long term forecasts are for lower prices to continue through 2017.
Commodities under pressure but silver could be about to boom
Prices of steel, copper, gold and of course oil are just some of those under pressure in the current state of the global economy. However silver could be about to get a boost from a burgeoning industry. CNBC reports that the metal’s use in solar panels is driving new demand by an industry that is set to expand in the next five years. An analyst from Capital Economics highlights that the solar industry has increased by 53 per cent per year over the past decade and China is one of the nations ramping up manufacturing. Each gigawatt of electricity requires 2.8 million ounces of silver.
