Brent prices above the $ 112 a barrel and U.S. crude is approaching $ 100

Technical analysis for crude oil -14 June 2013

Oil prices continued to rise driven by the results of the growth of the major countries within the European Union, in addition to the growing concerns of the situation for the future euro area, while kept gold on the high levels despite the decline in prices, transactions in Asia, while the decline of the euro against other currencies continuing the series of losses.

Oil
Prices of futures contracts for Brent crude on Tuesday above $ 112 a barrel, after strong growth data from Germany and France.
Fears about the outlook in the euro area as a result of rising Treasury yields, while threatening the austerity measures a state of recession in the euro area.
The case highlights the fuel consumption of economic activity closely and could weaken the slower growth in Europe’s oil demand in the region during the next year.
The German economy grew by 0.5% in the quarter from July to September and revised the growth rate in the second quarter to 0.3% from 0.1%.
The rate of growth in France and 0.4% had contracted 0.1% in the previous three months.
Is likely to result in the debt crisis in the euro area of ​​the worsening situation with forced countries such as Italy, Greece, Ireland, Spain and Albertaal to adopt harsh austerity measures to prevent the cause in the bond market pushed into default on the repayment of debt.
And contracts for Brent crude increased for the month of December to $ 1.25 of $ 113.14, but fell to 112.2 dollars, and the crude fell $ 2.27 Monday to close when compared to the highest level in 15 weeks on Friday.
With continued oil futures U.S. crude gains to rise more than a dollar in volatile trade on Tuesday backed the end of the trading options contracts for the month of December and the positive economic data, including retail sales data came better than expected.
In the New York Mercantile Exchange (NYMEX) futures rose U.S. light crude for December delivery dollars to 99.14 dollars a barrel, after it moved in a range between 97.51 and $ 99.28 dollars.

Minerals
The price of gold pieces in the morning session in London on Tuesday at 1765 dollars an ounce «ounce» of $ 1780.50, down from the previous session objects, note that the price of gold reached at the previous close in New York of $ 1779.89 an ounce.
The price of gold fell slightly in Asian trade, tracking the most dangerous assets, which fell as a result of renewed concerns about the ability of the euro area to contain the debt crisis following the rise of the return on Italian bonds, reflecting the concern of investors.
And enjoys the support of the gold as a safe haven demand it of value, but remains vulnerable because it extends the impact of the sharp decline in the broader financial market, which still weak sentiment towards Europe’s efforts to resolve the painful crisis of sovereign debt.
Stocks fell in Asian markets, while bond yields rose in the euro area to reflect the continuing uncertainty about the ability of politicians in Italy and Greece to implement painful reforms to resolve the debt crisis and gain the confidence of the market.
And the loss of gold in the spot market by 0.6 percent to 1768.44 dollars an ounce «ounce», and gold fell U.S. 0.4% to 1770.50 dollars, and fell silver 0.7% to 33.97 dollars a troy ounce, down platinum 0.11% through to 1635.74 dollars an ounce, and the loss of palladium 0.12% to 658.97 dollars an ounce.

Currency
The euro fell on Tuesday to near lows against the dollar recently and hit its lowest level in a month against the yen as the most prominent Italian high yields and the difficulties faced by the Spanish officials to contain the debt crisis in the region.
And soon dissipated the initial optimism which came after the two governments take Jdidetyn in Italy and Greece, after it failed to rein in increasing the cost of lending has increased in Italy, while the other returns on bonds in the euro area, including Spain and France.
The euro dropped 0.4% to 1.3572 dollars from its closing in the low last week at 1.3484 dollars and more away from its high in late October at 1.4248 dollars, dealers and spoke on the request of Asian sovereign contribute to curb the downward trend of the euro.
And the first Monday euro dropped below 1.3600 dollars after that exceeded the 1.3800 dollars in early trading.
The euro dropped 0.4% against the yen to 104.63 yen after hitting its lowest level in the month at 104.55 yen on electronic trading system on E.. Me. S.
The dollar fell 0.15% against the yen at 77.01 yen, after jumping earlier to the highest level during the day yesterday at 77.51 yen but gave up the gains, while the dollar posted its highest level in a month against the Swiss franc amid wide-ranging gains of the U.S. currency and difficulties faced by the franc to the speculation that the Bank Swiss Central may take new measures to weaken the currency.
The U.S. currency rose 1 percent to 0.9170 francs on electronic trading platform. The euro was 0.4% to 1.2407 francs.
And strengthen the demand for the dollar due to a reluctance to risk after the rise in bond yields, while the Italian and European stocks fell one percent.

Global capital markets
European stocks offset losses and turned to go up on Tuesday with U.S. stocks rise in early trade on Wall Street, where covered better than expected data on U.S. macroeconomic concerns about the debt crisis of the euro area.
The FTSEurofirst 300 index of leading European shares was 0.2% to 977.64 points after falling as 1.8% earlier in the session.
And U.S. retail sales rose in October, suggesting that the economy was opened by the last quarter of the year with some force, and also noted the first decline in wholesale prices in four months to the decline of inflationary pressures.
With U.S. stocks opened lower on Tuesday under pressure from banking stocks and shares related to natural resources was paid by the case of risk aversion resulting from European debt crisis of the Italian bond yields again to the danger zone.
The Dow Jones industrial average major U.S. 14.75 points, or 0.12 percent to 12064.23 points.
The Nasdaq index of the S & P 500 2.26 points larger, or 0.18% to 1249.52 points.
The Nasdaq Composite Index was up technology companies 6.59 points, or 0.25% to 2650.63 points.
While the Nikkei of Japanese shares, hovering above 8,500 points, dealers said it was unlikely to rise with the rise in bond yields in the euro zone countries, prompting concerns about Europe’s ability to contain the debt crisis.
The Nikkei fell 0.7% to 8541.93 points to remain above 8500 throughout the session, but with the abandonment of much of the gains of the previous day. And the broader Topix index of 0.7%, recording 730.91 points.

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