Oil Prices Could Head Back Over $50 Before Year End
Jul. 13, 2017 1:55 PM ET| Includes: USO

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Summary

Growing U.S. petroleum exports could balance U.S. oil supply and demand more quickly than the market expects.
Oil and fuel storage in the U.S. could return to the middle of the range of the five-year-average based on the growth in exports.
The easiest and most direct way for investors to participate in a near-term rise in oil prices is to buy shares in the United States Oil Fund on the stock-market.
A surge in exports of oil and finished petroleum products could send West Texas Intermediate crude oil prices back over $50 per barrel before the end of the year. A recent New York Times article highlighted the new oil export terminal in Corpus Christi, Texas. According to the paper, "Suddenly buyers from all over the world are purchasing the new American supplies, from South Korea to India - even oil-rich Venezuela, which uses the light sweet crude that comes out of American shale to blend with its gooey heavy crude. The light crude is highly prized even while global oil markets are saturated."

Oil rally eases as data show big drop in US crude stockpiles, rise in production
Crude inventories fell by 7.6 million barrels in the last week, compared with analysts' expectations for an decrease of 2.9 million barrels.
U.S. oil production ticked up by 59,000 barrels a day to nearly 9.4 million barrels a day.
OPEC said its oil output rose by 393,000 barrels per day in June, led by a rebound in Nigeria and Libya.

Oil rally eases as data show big drop in US crude stockpiles, rise in production
Crude inventories fell by 7.6 million barrels in the last week, compared with analysts' expectations for an decrease of 2.9 million barrels.
U.S. oil production ticked up by 59,000 barrels a day to nearly 9.4 million barrels a day.
OPEC said its oil output rose by 393,000 barrels per day in June, led by a rebound in Nigeria and Libya.

U.S. Dollar Could Crash 20%
Tucker Higgins Tucker Higgins Follow Jul 11, 2017 5:46 PM EDT
Play Video
U.S. Dollar Could Fall Another 20%

Foreign-exchange expert Douglas Borthwick say the U.S. dollar might plunge another 20% in the second half, as he believes the Trump administration wants a weaker greenback that will benefit U.S. trade.

"We've got another 20% to go before I feel satisfied that the U.S. has reached that weaker-dollar policy," Borthwick, who writes about forex for TheStreet, said during our latest Trading Strategies roundtable for investors.

Borthwick, managing director of Chapdelaine FX, said that the dollar will have to fall lower for longer to help fulfill the Trump administration's stated goals of improving U.S. manufacturing.

He said the U.S. Dollar Index (^DXY) is lower than it was before Donald Trump's election, "but it's still not low enough. The weaker-dollar policy that the Trump administration is pursuing is based on making the U.S. competitive -- and it has to be competitive not just for a couple of months where the dollar is weak, but for the next four to eight years."

A declining U.S. dollar could boost sectors besides manufacturing, such as commodities, which are generally denominated in dollars. The dollar has been on a downward move since January compared to a basket of major currencies. The greenback is now at at its lowest point since September 2016, according to the Federal Reserve Bank of St. Louis.

President Trump has divided from his administration on dollar policy. Though Treasury Secretary Steve Mnuchin has said a strong dollar is good for the U.S. economy, Trump has said he prefers a weak dollar because that benefits manufacturing.

U.S. Dollar Could Crash 20%
Tucker Higgins Tucker Higgins Follow Jul 11, 2017 5:46 PM EDT
Play Video
U.S. Dollar Could Fall Another 20%

Foreign-exchange expert Douglas Borthwick say the U.S. dollar might plunge another 20% in the second half, as he believes the Trump administration wants a weaker greenback that will benefit U.S. trade.

"We've got another 20% to go before I feel satisfied that the U.S. has reached that weaker-dollar policy," Borthwick, who writes about forex for TheStreet, said during our latest Trading Strategies roundtable for investors.

Borthwick, managing director of Chapdelaine FX, said that the dollar will have to fall lower for longer to help fulfill the Trump administration's stated goals of improving U.S. manufacturing.

He said the U.S. Dollar Index (^DXY) is lower than it was before Donald Trump's election, "but it's still not low enough. The weaker-dollar policy that the Trump administration is pursuing is based on making the U.S. competitive -- and it has to be competitive not just for a couple of months where the dollar is weak, but for the next four to eight years."

A declining U.S. dollar could boost sectors besides manufacturing, such as commodities, which are generally denominated in dollars. The dollar has been on a downward move since January compared to a basket of major currencies. The greenback is now at at its lowest point since September 2016, according to the Federal Reserve Bank of St. Louis.

President Trump has divided from his administration on dollar policy. Though Treasury Secretary Steve Mnuchin has said a strong dollar is good for the U.S. economy, Trump has said he prefers a weak dollar because that benefits manufacturing.

U.S. Dollar Could Crash 20%
Tucker Higgins Tucker Higgins Follow Jul 11, 2017 5:46 PM EDT
Play Video
U.S. Dollar Could Fall Another 20%

Foreign-exchange expert Douglas Borthwick say the U.S. dollar might plunge another 20% in the second half, as he believes the Trump administration wants a weaker greenback that will benefit U.S. trade.

"We've got another 20% to go before I feel satisfied that the U.S. has reached that weaker-dollar policy," Borthwick, who writes about forex for TheStreet, said during our latest Trading Strategies roundtable for investors.

Borthwick, managing director of Chapdelaine FX, said that the dollar will have to fall lower for longer to help fulfill the Trump administration's stated goals of improving U.S. manufacturing.

He said the U.S. Dollar Index (^DXY) is lower than it was before Donald Trump's election, "but it's still not low enough. The weaker-dollar policy that the Trump administration is pursuing is based on making the U.S. competitive -- and it has to be competitive not just for a couple of months where the dollar is weak, but for the next four to eight years."

A declining U.S. dollar could boost sectors besides manufacturing, such as commodities, which are generally denominated in dollars. The dollar has been on a downward move since January compared to a basket of major currencies. The greenback is now at at its lowest point since September 2016, according to the Federal Reserve Bank of St. Louis.

President Trump has divided from his administration on dollar policy. Though Treasury Secretary Steve Mnuchin has said a strong dollar is good for the U.S. economy, Trump has said he prefers a weak dollar because that benefits manufacturing.

US dollar pressured by Trump Jr emails, focus on Yellen testimony
Wednesday, July 12, 2017 - 09:11

2017-05-17T023921Z_1426918253_RC14402E6220_RTRMADP_3_GLOBAL-MARKETS.JPG The US dollar wobbled in early Asian trading on Wednesday as investors, already wary ahead Federal Reserve Chair Janet Yellen's testimony, digested emails released by President Donald Trump's eldest son suggesting he welcomed Russia's help in last year's election campaign. PHOTO: REUTERS
[TOKYO] The US dollar wobbled in early Asian trading on Wednesday as investors, already wary ahead Federal Reserve Chair Janet Yellen's testimony, digested emails released by President Donald Trump's eldest son suggesting he welcomed Russia's help in last year's election campaign.

Ms Yellen will give her semi-annual monetary policy testimony before Congress later on Wednesday and on Thursday, and investors will be parsing it for or clues on when the Fed will start reducing its massive balance sheet.

The US dollar index, which measures the US currency against a basket of six major rivals, was slightly lower on the day at 95.641.

Against its Japanese counterpart, the US dollar slipped 0.2 per cent to 113.675 yen, moving away from a four-month high of 114.495 yen marked on Tuesday.

US dollar pressured by Trump Jr emails, focus on Yellen testimony
Wednesday, July 12, 2017 - 09:11

2017-05-17T023921Z_1426918253_RC14402E6220_RTRMADP_3_GLOBAL-MARKETS.JPG The US dollar wobbled in early Asian trading on Wednesday as investors, already wary ahead Federal Reserve Chair Janet Yellen's testimony, digested emails released by President Donald Trump's eldest son suggesting he welcomed Russia's help in last year's election campaign. PHOTO: REUTERS
[TOKYO] The US dollar wobbled in early Asian trading on Wednesday as investors, already wary ahead Federal Reserve Chair Janet Yellen's testimony, digested emails released by President Donald Trump's eldest son suggesting he welcomed Russia's help in last year's election campaign.

Ms Yellen will give her semi-annual monetary policy testimony before Congress later on Wednesday and on Thursday, and investors will be parsing it for or clues on when the Fed will start reducing its massive balance sheet.

The US dollar index, which measures the US currency against a basket of six major rivals, was slightly lower on the day at 95.641.

Against its Japanese counterpart, the US dollar slipped 0.2 per cent to 113.675 yen, moving away from a four-month high of 114.495 yen marked on Tuesday.

When is the release of next quarter report?

This is the reason oil could jump up to $120 a barrel, expert says
Oil producing states and the oil supply are vulnerable to geopolitical risks.
Significant disruption could see prices rise to $120 a barrel
U.S., Libyan and Nigerian oil production is adding around 1 million barrels a day, undermining OPEC cuts.

FEATURE
Oil Prices Could Rise by 35% Later This Year
A prescient analyst at Citigroup thinks oil, recently at $44 a barrel, could head to $60 as demand increases.

By GENE EPSTEIN
July 8, 2017 1:15 a.m. ET
The price of crude oil could touch $60 a barrel before the end of this year, as demand exceeds supply. That forecast would have been aggressively bearish as recently as three years ago, but with West Texas Intermediate trading last week at $44, $60 would mean a price jump of 35%.

Citigroup senior energy analyst Eric Lee, featured in Barron’s as anticipating the bear market when the price was over $100, has become a short-term oil bull at current levels. In his view, traders have had difficulty interpreting the effect on...

Psiptek nta is 0.59. Share price at 0.17. Undervalued. Earn profit every year.

Psiptek nta is 0.59. Share price at 0.17. Undervalued. Earn profit every year.

Oil Prices Could Rise by 35% Later This Year
A prescient analyst at Citigroup thinks oil, recently at $44 a barrel, could head to $60 as demand increases.

By GENE EPSTEIN
July 8, 2017 1:15 a.m. ET
The price of crude oil could touch $60 a barrel before the end of this year, as demand exceeds supply. That forecast would have been aggressively bearish as recently as three years ago, but with West Texas Intermediate trading last week at $44, $60 would mean a price jump of 35%.

Citigroup senior energy analyst Eric Lee, featured in Barron’s as anticipating the bear market when the price was over $100, has become a short-term oil bull at current levels. In his view, traders have had difficulty interpreting the effect on...

Oil Prices Could Rise by 35% Later This Year
A prescient analyst at Citigroup thinks oil, recently at $44 a barrel, could head to $60 as demand increases.

By GENE EPSTEIN
July 8, 2017 1:15 a.m. ET
The price of crude oil could touch $60 a barrel before the end of this year, as demand exceeds supply. That forecast would have been aggressively bearish as recently as three years ago, but with West Texas Intermediate trading last week at $44, $60 would mean a price jump of 35%.

Citigroup senior energy analyst Eric Lee, featured in Barron’s as anticipating the bear market when the price was over $100, has become a short-term oil bull at current levels. In his view, traders have had difficulty interpreting the effect on...

Oil Prices Could Rise by 35% Later This Year
A prescient analyst at Citigroup thinks oil, recently at $44 a barrel, could head to $60 as demand increases.

By GENE EPSTEIN
July 8, 2017 1:15 a.m. ET
The price of crude oil could touch $60 a barrel before the end of this year, as demand exceeds supply. That forecast would have been aggressively bearish as recently as three years ago, but with West Texas Intermediate trading last week at $44, $60 would mean a price jump of 35%.

Citigroup senior energy analyst Eric Lee, featured in Barron’s as anticipating the bear market when the price was over $100, has become a short-term oil bull at current levels. In his view, traders have had difficulty interpreting the effect on...

This is the reason oil could jump up to $120 a barrel, expert says
Oil producing states and the oil supply are vulnerable to geopolitical risks.
Significant disruption could see prices rise to $120 a barrel
U.S., Libyan and Nigerian oil production is adding around 1 million barrels a day, undermining OPEC cuts.

This is the reason oil could jump up to $120 a barrel, expert says
Oil producing states and the oil supply are vulnerable to geopolitical risks.
Significant disruption could see prices rise to $120 a barrel
U.S., Libyan and Nigerian oil production is adding around 1 million barrels a day, undermining OPEC cuts.

This is the reason oil could jump up to $120 a barrel, expert says
Oil producing states and the oil supply are vulnerable to geopolitical risks.
Significant disruption could see prices rise to $120 a barrel
U.S., Libyan and Nigerian oil production is adding around 1 million barrels a day, undermining OPEC cuts.

Ringgit seen sliding to 4.40 against US dollar in 3Q
Ahmad Naqib Idris
/
The Edge Financial Daily

July 06, 2017 08:54 am MYT
This article first appeared in The Edge Financial Daily, on July 6, 2017.
-A+A
KUALA LUMPUR: The ringgit could weaken to 4.40 against the US dollar in the third quarter (3Q) of 2017, said Shan Saeed, chief economist at Dubai-based IQI Group, but the local currency is unlikely to crash as Malaysia’s fundamentals remain intact.

He has observed that the ringgit usually sees some weakening in 3Q and 4Q of the year, but will bounce back to its fair value of between 4.10 and 4.30 against the greenback.

The ringgit closed unchanged at 4.298 against the US dollar yesterday.

“The ringgit usually slides in the third and fourth quarters every year based on historical data. This is due to fund managers, which take long positions, adjusting their portfolios,” he told reporters on the sidelines of the RHB Banking Group Regional Conference 2017 yesterday.

“I think the ringgit will slide to 4.40 this year, but it will recover to 4.30 eventually,” he added.

Shan said the ringgit will be supported by an expected rise in crude oil prices going forward, while investor confidence and consumer spending remain strong.

He noted that weakening in the US dollar has also resulted in appreciation of the ringgit.

Despite a slew of negative news on Malaysia last year, he said, the ringgit was the best performing Asean currency.

“In December last year, everyone was talking about [the] ringgit falling to 5.80 against the US dollar, but currently it is still trading at around 4.30,” he said.

On Malaysia’s economic growth, Shan expects a gross domestic product growth of 4.8% to 5.2% for 2017 and 2018, supported by domestic consumption and investments.

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Ringgit seen sliding to 4.40 against US dollar in 3Q
Ahmad Naqib Idris
/
The Edge Financial Daily

July 06, 2017 08:54 am MYT
This article first appeared in The Edge Financial Daily, on July 6, 2017.
-A+A
KUALA LUMPUR: The ringgit could weaken to 4.40 against the US dollar in the third quarter (3Q) of 2017, said Shan Saeed, chief economist at Dubai-based IQI Group, but the local currency is unlikely to crash as Malaysia’s fundamentals remain intact.

He has observed that the ringgit usually sees some weakening in 3Q and 4Q of the year, but will bounce back to its fair value of between 4.10 and 4.30 against the greenback.

The ringgit closed unchanged at 4.298 against the US dollar yesterday.

“The ringgit usually slides in the third and fourth quarters every year based on historical data. This is due to fund managers, which take long positions, adjusting their portfolios,” he told reporters on the sidelines of the RHB Banking Group Regional Conference 2017 yesterday.

“I think the ringgit will slide to 4.40 this year, but it will recover to 4.30 eventually,” he added.

Shan said the ringgit will be supported by an expected rise in crude oil prices going forward, while investor confidence and consumer spending remain strong.

He noted that weakening in the US dollar has also resulted in appreciation of the ringgit.

Despite a slew of negative news on Malaysia last year, he said, the ringgit was the best performing Asean currency.

“In December last year, everyone was talking about [the] ringgit falling to 5.80 against the US dollar, but currently it is still trading at around 4.30,” he said.

On Malaysia’s economic growth, Shan expects a gross domestic product growth of 4.8% to 5.2% for 2017 and 2018, supported by domestic consumption and investments.

Subscribe to Editor's Picks & Mid-day email alert
We deliver news to your inbox daily

Email Address
SUBSCRIBE
RELATED NEWS
4 August 2015
MIER: Ringgit could fall to 4.0 against US dollar should crude oil price slips further
21 August 2015
Ringgit weakens to 4.1628 against US dollar
24 November 2016
Ringgit depreciates to 4.4575 against US dollar
25 November 2016
Ringgit weakens to 4.4688 against US dollar
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MOST READ
MOST WATCHED
1 Malaysia ex-central bank chief recalls 1997 crisis lessons: Q&A
2 Ringgit seen sliding to 4.40 against US dollar in 3Q
3 Market entering lacklustre period, says HLIB Research
4 Drinks: Forget Pappy, these five whiskys deserve their own cult status
5 MRCB up after option period extended













Home About Us Join Us Contact Us Advertise with us Subscription Sitemap Term of use PDPA
© All rights reserved. 2017. The Edge Communications Sdn. Bhd.

KUALA LUMPUR: The ringgit could weaken to 4.40 against the US dollar in the third quarter (3Q) of 2017, said Shan Saeed, chief economist at Dubai-based IQI Group, but the local currency is unlikely to crash as Malaysia’s fundamentals remain intact.

He has observed that the ringgit usually sees some weakening in 3Q and 4Q of the year, but will bounce back to its fair value of between 4.10 and 4.30 against the greenback.

The ringgit closed unchanged at 4.298 against the US dollar yesterday.

“The ringgit usually slides in the third and fourth quarters every year based on historical data. This is due to fund managers, which take long positions, adjusting their portfolios,” he told reporters on the sidelines of the RHB Banking Group Regional Conference 2017 yesterday.

“I think the ringgit will slide to 4.40 this year, but it will recover to 4.30 eventually,” he added.

Shan said the ringgit will be supported by an expected rise in crude oil prices going forward, while investor confidence and consumer spending remain strong.

He noted that weakening in the US dollar has also resulted in appreciation of the ringgit.

Despite a slew of negative news on Malaysia last year, he said, the ringgit was the best performing Asean currency.

“In December last year, everyone was talking about [the] ringgit falling to 5.80 against the US dollar, but currently it is still trading at around 4.30,” he said.

On Malaysia’s economic growth, Shan expects a gross domestic product growth of 4.8% to 5.2% for 2017 and 2018, supported by domestic consumption and investments.

KUALA LUMPUR: The ringgit could weaken to 4.40 against the US dollar in the third quarter (3Q) of 2017, said Shan Saeed, chief economist at Dubai-based IQI Group, but the local currency is unlikely to crash as Malaysia’s fundamentals remain intact.

He has observed that the ringgit usually sees some weakening in 3Q and 4Q of the year, but will bounce back to its fair value of between 4.10 and 4.30 against the greenback.

The ringgit closed unchanged at 4.298 against the US dollar yesterday.

“The ringgit usually slides in the third and fourth quarters every year based on historical data. This is due to fund managers, which take long positions, adjusting their portfolios,” he told reporters on the sidelines of the RHB Banking Group Regional Conference 2017 yesterday.

“I think the ringgit will slide to 4.40 this year, but it will recover to 4.30 eventually,” he added.

Shan said the ringgit will be supported by an expected rise in crude oil prices going forward, while investor confidence and consumer spending remain strong.

He noted that weakening in the US dollar has also resulted in appreciation of the ringgit.

Despite a slew of negative news on Malaysia last year, he said, the ringgit was the best performing Asean currency.

“In December last year, everyone was talking about [the] ringgit falling to 5.80 against the US dollar, but currently it is still trading at around 4.30,” he said.

On Malaysia’s economic growth, Shan expects a gross domestic product growth of 4.8% to 5.2% for 2017 and 2018, supported by domestic consumption and investments.

This mean already lowest price 0.165 . May up slow and steady.

KUALA LUMPUR: The ringgit opened higher today due to bearish sentiment for the US dollar after the release of its first-quarter gross domestic product (GDP) data last week, a dealer said.

At 9am, the ringgit was traded at 4.2900/2970 against the greenback from 4.2920/2950 on Friday.

The dealer said at the beginning of this year, the Donald Trump-fuelled US dollar rally left the currency vulnerable to heavy losses and after six months, the greenback still lacks “attitude.”

The US also released better-than-expected GDP data last week which showed that the US economy advanced 1.4 per cent. Corporate profits, however, declined despite the upbeat data. Overall, investors remained focus on the central banks’ intentions to tighten monetary policies.

Against a basket of major currencies, the ringgit was traded mixed. It rose against the Singapore dollar to 3.1155/1210 from 3.1181/1220 on Friday, and strengthened against the yen to 3.8194/8267 from 3.8328/8365. It fell against the British pound to 5.5787/5904 from 5.5757/5801, and eased slightly against the euro to 4.8970/9055 from 4.8963/8015 on Friday. – BERNAMA

KUALA LUMPUR: The ringgit opened higher today due to bearish sentiment for the US dollar after the release of its first-quarter gross domestic product (GDP) data last week, a dealer said.

At 9am, the ringgit was traded at 4.2900/2970 against the greenback from 4.2920/2950 on Friday.

The dealer said at the beginning of this year, the Donald Trump-fuelled US dollar rally left the currency vulnerable to heavy losses and after six months, the greenback still lacks “attitude.”

The US also released better-than-expected GDP data last week which showed that the US economy advanced 1.4 per cent. Corporate profits, however, declined despite the upbeat data. Overall, investors remained focus on the central banks’ intentions to tighten monetary policies.

Against a basket of major currencies, the ringgit was traded mixed. It rose against the Singapore dollar to 3.1155/1210 from 3.1181/1220 on Friday, and strengthened against the yen to 3.8194/8267 from 3.8328/8365. It fell against the British pound to 5.5787/5904 from 5.5757/5801, and eased slightly against the euro to 4.8970/9055 from 4.8963/8015 on Friday. – BERNAMA

Crude oil prices rise on first drop in US drilling activity

REUTERS
COMMENTS (0) · PRINT · T+

inShare
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SINGAPORE, JULY 3:
Oil prices rose on Monday, lifted by the first fall in US drilling activity in months, although the gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.

Brent crude futures climbed 16 cents or 0.3 per cent to $48.93 per barrel by 0248 GMT, after jumping 5.2 per cent last week, its first weekly gain in six weeks.

US West Texas Intermediate (WTI) crude futures rose 24 cents or 0.5 per cent to $46.28 per barrel, adding to last week's 7 per cent gain.

Crude oil prices rise on first drop in US drilling activity

REUTERS
COMMENTS (0) · PRINT · T+

inShare
Share


SINGAPORE, JULY 3:
Oil prices rose on Monday, lifted by the first fall in US drilling activity in months, although the gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.

Brent crude futures climbed 16 cents or 0.3 per cent to $48.93 per barrel by 0248 GMT, after jumping 5.2 per cent last week, its first weekly gain in six weeks.

US West Texas Intermediate (WTI) crude futures rose 24 cents or 0.5 per cent to $46.28 per barrel, adding to last week's 7 per cent gain.

Crude oil prices rise on first drop in US drilling activity

REUTERS
COMMENTS (0) · PRINT · T+

inShare
Share


SINGAPORE, JULY 3:
Oil prices rose on Monday, lifted by the first fall in US drilling activity in months, although the gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.

Brent crude futures climbed 16 cents or 0.3 per cent to $48.93 per barrel by 0248 GMT, after jumping 5.2 per cent last week, its first weekly gain in six weeks.

US West Texas Intermediate (WTI) crude futures rose 24 cents or 0.5 per cent to $46.28 per barrel, adding to last week's 7 per cent gain.

ocksForexCommoditiesGold & SilverToday's PickPortfolio Tracker

Crude oil prices rise on first drop in US drilling activity

REUTERS
COMMENTS (0) · PRINT · T+

inShare
Share


SINGAPORE, JULY 3:
Oil prices rose on Monday, lifted by the first fall in US drilling activity in months, although the gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.

Brent crude futures climbed 16 cents or 0.3 per cent to $48.93 per barrel by 0248 GMT, after jumping 5.2 per cent last week, its first weekly gain in six weeks.

US West Texas Intermediate (WTI) crude futures rose 24 cents or 0.5 per

U.S. dollar suffers worst slump since 2010
10:33am EDT - 01:08

The U.S. dollar but posted its biggest quarterly decline against a basket of rival currencies in nearly seven years as investors doubt the Fed's plan to keep raising interest rates.

U.S. dollar suffers worst slump since 2010
10:33am EDT - 01:08

The U.S. dollar but posted its biggest quarterly decline against a basket of rival currencies in nearly seven years as investors doubt the Fed's plan to keep raising interest rates.

MARKET NEWS | Fri Jun 30, 2017 | 4:12pm EDT
U.S. dollar net longs fall to lowest in about a year -CFTC, Reuters
Speculators cut net long positions on the U.S. dollar to the lowest level in nearly a year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.

The value of the dollar's net long position fell to $4.50 billion in the week ended June 27, from $7.82 billion the previous week, and the lowest since the first week of July last year.

Euro net longs, meanwhile, rose in the latest week, CFTC data showed. (Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama)

MARKET NEWS | Fri Jun 30, 2017 | 4:12pm EDT
U.S. dollar net longs fall to lowest in about a year -CFTC, Reuters
Speculators cut net long positions on the U.S. dollar to the lowest level in nearly a year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.

The value of the dollar's net long position fell to $4.50 billion in the week ended June 27, from $7.82 billion the previous week, and the lowest since the first week of July last year.

Euro net longs, meanwhile, rose in the latest week, CFTC data showed. (Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama)

MARKET NEWS | Fri Jun 30, 2017 | 4:12pm EDT
U.S. dollar net longs fall to lowest in about a year -CFTC, Reuters
Speculators cut net long positions on the U.S. dollar to the lowest level in nearly a year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.

The value of the dollar's net long position fell to $4.50 billion in the week ended June 27, from $7.82 billion the previous week, and the lowest since the first week of July last year.

Euro net longs, meanwhile, rose in the latest week, CFTC data showed. (Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama)

MARKET NEWS | Fri Jun 30, 2017 | 4:12pm EDT
U.S. dollar net longs fall to lowest in about a year -CFTC, Reuters
Speculators cut net long positions on the U.S. dollar to the lowest level in nearly a year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.

The value of the dollar's net long position fell to $4.50 billion in the week ended June 27, from $7.82 billion the previous week, and the lowest since the first week of July last year.

Euro net longs, meanwhile, rose in the latest week, CFTC data showed. (Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama)

Crude oil prices to trade higher: Angel Commodities

Angel Commodities' commodity report on crude oil


WTI oil prices rose by 0.4 percent on Thursday to close at $44.9 per barrel extending crude's rally to a sixth straight session after a decline in weekly U.S. crude production temporarily eased concerns about deepening oversupply. In recent weeks, funds have been unloading long speculative positions, reducing bets on higher prices while brokerages including Goldman Sachs and Societe Generale have cut their 2017 forecasts for crude prices. SocGen on Thursday estimated U.S. crude futures would average $47.5 0 a barrel in the third quarter, down from previous expectations for $55. On the MCX, oil prices rose by 0.9 percent to close at Rs.2918 per barrel.

Outlook
We expect oil prices to trade higher today continuing its positive momentum from the previous trading session although oil inventories remain high and supply overhang continues to drive the story in oil markets. On the MCX, oil prices are expected to trade higher today, international markets are trading higher by 0.6 percent at $45.20 per barrel.
For all commodities report, click here

KUALA LUMPUR, June 29 (Xinhua) -- BMI Research, a Fitch group company, upgraded Malaysian ringgit forecast for these two years on Thursday after it sees some stability in Chinese yuan.
"A more stable yuan will be positive for the ringgit given that China is one of Malaysia's largest trade partners," said BMI Research in a report.
The yuan and the ringgit have continued to move in the same direction, said the research house, adding that it believes that a stable yuan reduces tail risks facing the ringgit, as significant yuan weakness would likely impose downward pressure on the ringgit.
The research house said it has upgraded yuan forecast and has also forecast that the ringgit could hit 4.200 against U.S. dollar in 2017 and it could hit 4.100 against U.S. dollar in 2018 from 4.350 and 4.200 respectively, to reflect the ringgit's stronger-than-expected performance thus far.

KUALA LUMPUR, June 29 (Xinhua) -- BMI Research, a Fitch group company, upgraded Malaysian ringgit forecast for these two years on Thursday after it sees some stability in Chinese yuan.
"A more stable yuan will be positive for the ringgit given that China is one of Malaysia's largest trade partners," said BMI Research in a report.
The yuan and the ringgit have continued to move in the same direction, said the research house, adding that it believes that a stable yuan reduces tail risks facing the ringgit, as significant yuan weakness would likely impose downward pressure on the ringgit.
The research house said it has upgraded yuan forecast and has also forecast that the ringgit could hit 4.200 against U.S. dollar in 2017 and it could hit 4.100 against U.S. dollar in 2018 from 4.350 and 4.200 respectively, to reflect the ringgit's stronger-than-expected performance thus far.

KUALA LUMPUR, June 29 (Xinhua) -- BMI Research, a Fitch group company, upgraded Malaysian ringgit forecast for these two years on Thursday after it sees some stability in Chinese yuan.
"A more stable yuan will be positive for the ringgit given that China is one of Malaysia's largest trade partners," said BMI Research in a report.
The yuan and the ringgit have continued to move in the same direction, said the research house, adding that it believes that a stable yuan reduces tail risks facing the ringgit, as significant yuan weakness would likely impose downward pressure on the ringgit.
The research house said it has upgraded yuan forecast and has also forecast that the ringgit could hit 4.200 against U.S. dollar in 2017 and it could hit 4.100 against U.S. dollar in 2018 from 4.350 and 4.200 respectively, to reflect the ringgit's stronger-than-expected performance thus far.

The U.S. dollar dropped to a 12-month low against the euro and weakened against the pound on the prospect for shifts in monetary policy at both the European Central Bank and the Bank of England.

The ICE Dollar Index DXY, -0.50% a measure of the currency against a basket of six major rivals, was down less than 0.4% to 95.62, falling for a third straight session to a nine-month low. The WSJ Dollar Index BUXX, -0.04% which gauges the greenback against a wider basket of currencies, fell 0.3% to 87.74.


The euro and the pound on Thursday were building on notable moves made this week, during which the European Central Bank hosted central-bank governors and others at a forum in Sintra, Portugal.

On Thursday, the euro also got support from preliminary inflation figures in Germany, which showed consumer prices are expected to rise at an annualized 1.6% in June, from 1.5% in May. European Commission’s economic-condition sentiment indicator also came in better than expected.

“We may be seeing a change in the positioning of the U.S., U.K. and Europe as to who will be tightening and when. The Fed seems close to concluding all they can do for the dollar this year, with only one more rate hike on the cards, which traders now think will come in September or December,” said Konstantinos Anthis, a researcher at ADS Securities.

The euro EURUSD, -0.0087%  bought $1.1429, trading above $1.14 for the first time in more than a year. That is the highest level in 12 months. Late Wednesday, the shared currency was at $1.1379.

The pound GBPUSD, +0.0077%  hit an intraday high of $1.13008, its best level since late May. Late Thursday, it changed hands at $1.2991, up from $1.2927 on Wednesday.

The euro “is benefiting from market’s expectations that the ECB has started thinking about reducing their stimulus in light of the improving conditions in the eurozone. And, in the U.K., the Bank of England joins the club of banks turning hawkish after Governor [Mark] Carney suggested yesterday that there’s a limit to the BOE’s tolerance for above-target inflation,” wrote Anthis.

The U.S. dollar dropped to a 12-month low against the euro and weakened against the pound on the prospect for shifts in monetary policy at both the European Central Bank and the Bank of England.

The ICE Dollar Index DXY, -0.50% a measure of the currency against a basket of six major rivals, was down less than 0.4% to 95.62, falling for a third straight session to a nine-month low. The WSJ Dollar Index BUXX, -0.04% which gauges the greenback against a wider basket of currencies, fell 0.3% to 87.74.


The euro and the pound on Thursday were building on notable moves made this week, during which the European Central Bank hosted central-bank governors and others at a forum in Sintra, Portugal.

On Thursday, the euro also got support from preliminary inflation figures in Germany, which showed consumer prices are expected to rise at an annualized 1.6% in June, from 1.5% in May. European Commission’s economic-condition sentiment indicator also came in better than expected.

“We may be seeing a change in the positioning of the U.S., U.K. and Europe as to who will be tightening and when. The Fed seems close to concluding all they can do for the dollar this year, with only one more rate hike on the cards, which traders now think will come in September or December,” said Konstantinos Anthis, a researcher at ADS Securities.

The euro EURUSD, -0.0087%  bought $1.1429, trading above $1.14 for the first time in more than a year. That is the highest level in 12 months. Late Wednesday, the shared currency was at $1.1379.

The pound GBPUSD, +0.0077%  hit an intraday high of $1.13008, its best level since late May. Late Thursday, it changed hands at $1.2991, up from $1.2927 on Wednesday.

The euro “is benefiting from market’s expectations that the ECB has started thinking about reducing their stimulus in light of the improving conditions in the eurozone. And, in the U.K., the Bank of England joins the club of banks turning hawkish after Governor [Mark] Carney suggested yesterday that there’s a limit to the BOE’s tolerance for above-target inflation,” wrote Anthis.

The U.S. dollar dropped to a 12-month low against the euro and weakened against the pound on the prospect for shifts in monetary policy at both the European Central Bank and the Bank of England.

The ICE Dollar Index DXY, -0.50% a measure of the currency against a basket of six major rivals, was down less than 0.4% to 95.62, falling for a third straight session to a nine-month low. The WSJ Dollar Index BUXX, -0.04% which gauges the greenback against a wider basket of currencies, fell 0.3% to 87.74.


The euro and the pound on Thursday were building on notable moves made this week, during which the European Central Bank hosted central-bank governors and others at a forum in Sintra, Portugal.

On Thursday, the euro also got support from preliminary inflation figures in Germany, which showed consumer prices are expected to rise at an annualized 1.6% in June, from 1.5% in May. European Commission’s economic-condition sentiment indicator also came in better than expected.

“We may be seeing a change in the positioning of the U.S., U.K. and Europe as to who will be tightening and when. The Fed seems close to concluding all they can do for the dollar this year, with only one more rate hike on the cards, which traders now think will come in September or December,” said Konstantinos Anthis, a researcher at ADS Securities.

The euro EURUSD, -0.0087%  bought $1.1429, trading above $1.14 for the first time in more than a year. That is the highest level in 12 months. Late Wednesday, the shared currency was at $1.1379.

The pound GBPUSD, +0.0077%  hit an intraday high of $1.13008, its best level since late May. Late Thursday, it changed hands at $1.2991, up from $1.2927 on Wednesday.

The euro “is benefiting from market’s expectations that the ECB has started thinking about reducing their stimulus in light of the improving conditions in the eurozone. And, in the U.K., the Bank of England joins the club of banks turning hawkish after Governor [Mark] Carney suggested yesterday that there’s a limit to the BOE’s tolerance for above-target inflation,” wrote Anthis.

Investing.com -

Investing.com - The dollar remained on the downside against the other major currencies on Thursday, as the release of upbeat U.S. economic growth data failed to boost demand for the greenback.

EUR/USD was up 0.33% at a one-year high of 1.1415.


Official data showed that U.S. gross domestic product rose 1.4% in the first quarter, revised up from the previous reading of a 1.2% expansion. Analysts had expected growth to remain unchanged from the prior revision.

Investing.com -

Investing.com - The dollar remained on the downside against the other major currencies on Thursday, as the release of upbeat U.S. economic growth data failed to boost demand for the greenback.

EUR/USD was up 0.33% at a one-year high of 1.1415.


Official data showed that U.S. gross domestic product rose 1.4% in the first quarter, revised up from the previous reading of a 1.2% expansion. Analysts had expected growth to remain unchanged from the prior revision.

Samsung Asset Management is buying Malaysian banking, property and construction stocks on bets the government will pump prime ahead of the election, according to Hong Kong-based fund manager Alan Richardson. Meanwhile, it’s paring technology and commodity-related holdings.
Read more at http://www.thestar.com.my/business/business-news/2017/06/29/the-ringgit-is-easily-asia-strongest-currency/#yYeiGEKBgwcldp2G.99

Samsung Asset Management is buying Malaysian banking, property and construction stocks on bets the government will pump prime ahead of the election, according to Hong Kong-based fund manager Alan Richardson. Meanwhile, it’s paring technology and commodity-related holdings.
Read more at http://www.thestar.com.my/business/business-news/2017/06/29/the-ringgit-is-easily-asia-strongest-currency/#yYeiGEKBgwcldp2G.99

Psiptek nta 0.59. Market price 0.165

The Ringgit Is Easily Asia's Strongest Currency
By Y-Sing Liau and En Han Choong
June 29, 2017, 6:00 AM GMT+8
Samsung Asset buys banks, construction stocks before election
Benchmark index soared to a two-year high as earnings improved
Malaysian assets are back in favor as investors focus on encouraging signs of an economic turnaround instead of a scandal that has touched the top of government and as far as Hollywood.

Psiptek nta 0.59. Market price 0.165.