Open Interest – A Camet http://acamet.org/ Tue, 21 Jun 2022 17:17:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://acamet.org/wp-content/uploads/2021/04/a-camet-icon-150x150.png Open Interest – A Camet http://acamet.org/ 32 32 CPO futures end lower on June 21 for the fifth day in a row https://acamet.org/cpo-futures-end-lower-on-june-21-for-the-fifth-day-in-a-row/ Tue, 21 Jun 2022 17:17:18 +0000 https://acamet.org/cpo-futures-end-lower-on-june-21-for-the-fifth-day-in-a-row/

KUALA LUMPUR (June 21): Weak market fundamentals continued to weigh on the crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives, sending the market into its fifth consecutive day of downtrend on Tuesday 21 June.

Singapore-based owner and co-founder of Palm Oil Analytics, Sathia Varqa, said the trading pattern was mixed but the futures market managed to pare all losses towards the close to end nearly unchanged from the close. at Monday’s prices.

“A massive sell-off of palm oil and soybeans on the Dalian Commodity Exchange, weak export data from June 1 to 20, as well as an increase in palm exports from Indonesia ahead of the months of maximum production. (All of these) have combined to drive down the future of the palm.

“Nevertheless, bargain hunting following the low prices supported the futures market (against further losses),” he said. Bernama.

At close, the CPO futures contract for the July 2022 spot month fell RM51 to RM5.21 per tonne, September 2022 slipped RM1 to RM4,980 per tonne and October 2022 lost RM15. at RM4,940 per ton.

However, August 2022 was RM5 better at RM5,065 per ton.

Total volume declined to 84,565 lots on Tuesday from 94,727 lots on Monday, while open interest narrowed to 295,727 contracts from 310,748 contracts.

The physical CPO price for July South fell by RM150 to RM5,300 per ton.

]]>
Milan plan to reopen Bennacer renewal talks amid Man Utd interest rumors https://acamet.org/milan-plan-to-reopen-bennacer-renewal-talks-amid-man-utd-interest-rumors/ Sun, 19 Jun 2022 18:04:24 +0000 https://acamet.org/milan-plan-to-reopen-bennacer-renewal-talks-amid-man-utd-interest-rumors/

AC Milan are working on the renewal of Ismael Bennacer as rumors have arrived from England that Manchester United are interested.

Calciomercato.com recall how much Bennacer played in the Scudetto victory last season and given that his current contract expires in 2024, there is a desire to extend the deadline. For the moment, there is no sign of acceleration but negotiations continue, even if other teams could come to complicate things.

Two years ago, former Manchester United manager Ole Gunnar Solskjaer showed interest in the ex-Empoli midfielder but there was nothing concrete and then the Algerian stayed at Milan convinced by the project.

The report quotes The Sun as saying that Erik ten Hag’s United scouts for midfielders could reignite that interest. However, the prime target is Barcelona’s Frenkie de Jong while interested clubs are also aware that Bennacer’s release clause is €50m.

A further meeting with the player’s agent is scheduled for the end of the month to assess their respective positions following the change in ownership, and a draft agreement was put in place between March and April on a four-year contract until in 2026 with a net value of 3 million euros. per season, but now negotiations are open again.

]]>
Bitcoin dips below $20,000, Ethereum breaks $1,000 https://acamet.org/bitcoin-dips-below-20000-ethereum-breaks-1000/ Sat, 18 Jun 2022 08:13:00 +0000 https://acamet.org/bitcoin-dips-below-20000-ethereum-breaks-1000/
Source: Adobe/Microgen

Bitcoin (BTC), the most popular cryptocurrency and crypto-asset, fell below USD 20,000 for the first time since December 2020, while the second largest crypto-asset, ethereum (ETH), fell crossed the USD 1,000 level for the first time since January 2021.

As of 08:19 UTC, BTC trades at $19,161 and drops 10% in one day and 34% in one week, ETH trades at $996 and drops 11% in one day and 40% in one week . The other crypto-assets in the top 10 club are down 10% to 12%.

BTC price chart:

Source: Coingecko.com

As noted, analysts considered the $20,000 for BTC and $1,000 for ETH levels to be key prices to watch.

A break below the $19,511 level could cause many hodlers to capitulate and gradually reduce leverage and most open interest on BTC options is based on the $20,000 strike price, “which can contribute to selling pressure in the market if the price falls below,” Vetle Lunde and Jaran Mellerud at Arcane Research says a note, per Bloomberg.

So far, liquidations in the crypto market have approached $170 million in the past 4 hours, per coin glass The data.

If these levels break, we can expect “massive selling pressure” in spot markets as dealers hedge, and it could even cause some unhedged OTC dealers to “go bankrupt”, old BitMEX CEO Arthur Hayes warned this week.

“As for the charts, you better pull out your Lord Satoshi prayer book and hope the lord shows kindness to the soul of #crypto markets. [Because] if these levels break, you might as well turn off your computer [because] your cards will be useless for a while,” he said.

However, historical data shows that BTC may find key support around $20,000 as previous selloffs show where the token typically finds points of resilience, Mike McGlone, analyst for Bloomberg Intelligencesaid, adding that BTC could “build a base around $20,000 like it did around $5,000 in 2018-19 and $300 in 2014-15.”

However, Digital Galaxy CEO Mike Novogratz said he believes BTC and ETH are “much closer to the bottom” than stocks which he believes could fall another 15% to 20%, but investors should still proceed with caution.

Either way, according to Ainsley To, Noelle Acheson and Konrad Laesser of Genesis Trade“the sentiment in the crypto markets is that the unknown unknowns are the most important right now.”

“The resurgence of counterparty risk reminds us that not everything that matters in risk management can be precisely quantified. Risk is what remains after you think you’ve thought of everything,” they told Bloomberg.
____
Learn more:
– Bitcoin, Ethereum and Crypto test new lows as market braces for bigger rate hike on Wednesday
– Bitcoin, Ethereum and Crypto Dive as Celsius adds fuel to Fed fire this week

– Bitcoin’s historical performance is not a guide to the future in 2022
– Bitcoin Undervalued, Crypto Is Now Better Than Real Estate – JPMorgan

– As Inflation ‘Eases’, Crypto Bottom Likely in ‘Second Half of 2022’ – VC Investor
– Crypto and Stock “Decoupling” Prediction Flops, But There’s Still Hope

]]>
A look at recent Procter & Gamble whale trades https://acamet.org/a-look-at-recent-procter-gamble-whale-trades/ Wed, 15 Jun 2022 16:43:47 +0000 https://acamet.org/a-look-at-recent-procter-gamble-whale-trades/

A whale with plenty of money to spend has taken a noticeably bearish stance on Procter & Gamble.

A look at the history of options for Procter & Gamble PG we have detected 12 strange trades.

Looking at the specifics of each trade, it is correct to say that 41% of investors opened trades with bullish expectations and 58% with bearish expectations.

Of all the transactions identified, 9 are put options, for a total amount of $403,271 and 3 are call options, for a total amount of $134,908.

What is the target price?

Given the volume and open interest on these contracts, it appears that whales have been targeting a price range of $120.0-$146.0 for Procter & Gamble over the past 3 months.

Development of volume and open interest

Reviewing volume and open interest is an insightful way to perform due diligence on a security.

This data can help you track the liquidity and interest of Procter & Gamble options for a given strike price.

Below, we can observe the evolution of volume and open interest in calls and puts, respectively, for all of Procter & Gamble’s whale business across a strike price range of from $120.0 to $146.0 in the last 30 days.

Procter & Gamble Options Volume and Open Interest in the Last 30 Days

The biggest options spotted:









Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume
PG PUT TRADE BEARISH 10/21/22 $130.00 $80,000 1.8K 155
PG PUT TRADE BULLISH 06/17/22 $146.00 $62,100 521 43
PG CALL TRADE NEUTRAL 01/20/23 $130.00 $54.5,000 464 57
PG PUT TRADE NEUTRAL 06/17/22 $144.00 $48,400 223 0
PG CALL SWEEP BULLISH 01/20/23 $130.00 $44,000 464 97









Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume
PG PUT TRADE BEARISH 10/21/22 $130.00 $80,000 1.8K 155
PG PUT TRADE BULLISH 06/17/22 $146.00 $62,100 521 43
PG CALL TRADE NEUTRAL 01/20/23 $130.00 $54.5,000 464 57
PG PUT TRADE NEUTRAL 06/17/22 $144.00 $48,400 223 0
PG CALL SWEEP BULLISH 01/20/23 $130.00 $44,000 464 97

Where is Procter & Gamble right now?

  • With a volume of 5,188,944, the price of PG is down -2.2% at $130.9.
  • RSI indicators suggest that the underlying stock may be oversold.
  • The next results should be published in 44 days.

What the experts say about Procter & Gamble:

  • Deutsche Bank has decided to maintain its buy rating on Procter & Gamble, which currently sits at a price target of $171.
  • Barclays has decided to maintain its overweight rating on Procter & Gamble, which currently sits at a price target of $157.
  • Wells Fargo has decided to maintain its overweight rating on Procter & Gamble, which currently sits at a price target of $170.

Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.

If you want to stay up to date on the latest options trades for Procter & Gamble, Benzinga Pro gives you real-time options trade alerts.

]]>
Bet on the recovery of this blue chip title https://acamet.org/bet-on-the-recovery-of-this-blue-chip-title/ Mon, 13 Jun 2022 16:58:58 +0000 https://acamet.org/bet-on-the-recovery-of-this-blue-chip-title/

Dow stock could recoup recent losses, if history is any indicator

Wall Street is selling off sharply today as traders accept the possibility of recession come. Top notch chemical company Dow Inc (NYSE:DOW) was no exception to today’s profit taking, with the stock last down 3.7% at $59.57 and on course for a fourth straight loss. The DOW lost 12.2% last month, but clings to a 4.8% advance year-to-date. If history is any indicator, however, stocks could recoup some recent losses in the month ahead.

Dow stock just landed on a study by Schaeffer senior quantitative analyst Rocky White after rebounding to its 200-day moving average. According to White’s study, equity has experienced a similar decline over the past three years. Despite the limited sample size, stocks returned 5.5% the following month. That would put the blue-chip stock back on track to almost halve its recent monthly loss.

June 13 DOW chart

A change in the options pits could also give the stock some wind, as traders have opted for bearish bets in recent weeks. DOW’s Schaeffer put/call open interest ratio (SOIR) of 1.18 is higher than all other readings over the past year, indicating that short-term options traders have never been as biased as they are now. Additionally, the 10-day buy/sell volume ratio of 1.27 on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) is over 91% of readings from last year.

A series of upgrades could also give DOW a boost. Of the 14 analysts covered, 11 say “hold” or worse, against three ratings “strong buy”. Meanwhile, the 12-month consensus price target of $73.05 represents a 23.2% premium to current levels.

]]>
Royal Ascot 2022: Moore and Buick lead the open field in the race for the jockeys title | Royal Ascot https://acamet.org/royal-ascot-2022-moore-and-buick-lead-the-open-field-in-the-race-for-the-jockeys-title-royal-ascot/ Sat, 11 Jun 2022 18:54:00 +0000 https://acamet.org/royal-ascot-2022-moore-and-buick-lead-the-open-field-in-the-race-for-the-jockeys-title-royal-ascot/

OIsin Murphy, who was Royal Ascot’s top jockey for the first time last season, will be on the other side of the running rail when the most prestigious flat meeting of the season opens on Tuesday, but even in his absence , the race to claim the prize for the best runner seems exceptionally open this year.

The last royal meeting with a full crowd, in 2019, had six races a day, but the post-Covid calendar is up to seven, five-day races, so this year’s best jockey will probably need at least the five winners Murphy has teamed up in 2021 to claim the prize.

Ryan Moore (13-8)

Aidan O’Brien’s number 1 was the top driver in the royal meeting eight times in nine seasons from 2010, the most memorable with nine winners, a record since World War II, in 2015. As always, O ‘Brien will provide the bulk of his fantasized rides, including promising youngster Kyprios in Thursday’s Gold Cup, while a strong youth side are led by unbeaten Blackbeard in the Coventry Stakes on Tuesday and Alfred Munnings, the Chesham’s favorite on the final afternoon. This year, however, Michael Stoute’s resurgent yard will also provide a useful back-up, not least when Bay Bridge, hugely impressive in last month’s Brigadier Gerard, went around 5-4 to beat Japanese star Shahryar in the Prince of Wales’s Stakes. Wednesday.

William Buick (3-1

The undisputed leader in the 2022 Flat Jockey Championship race has never won the prize at Royal Ascot and he will likely need to beat his previous best tally of four wins in 2017 to break his duck. He can expect his best book on paper with two real bankers in Coroebus, the 2,000 guineas winner, at odds for Tuesday’s St James’s Palace Stakes, and Hurricane Lane, winner of the Irish Derby and the Premier League. last year, who are due to kick off their four-year-old season at the Hardwicke on Saturday. Charlie Appleby’s youth team includes Noble Style, a big contender for Coventry, and Buick’s current form should ensure he has nearly a full book during the week.

Frankie Dettori (7-2)

The current most successful runner in the meeting with 76 winners is also second in the all-time list behind Lester Piggott, who ran an astonishing 116 at a time when there were 24 races over four days. Dettori is on the hunt for an eighth best jockey award at the meeting and although he’s only had 36 races (and seven winners) since early May, this is the week he’s all but guaranteed to roar. in life. His big chances include the evergreen Stradivarius in the Gold Cup and the Queen’s Reach For The Moon at Hampton Court on the same afternoon, while Emily Upjohn, edged out in the Oaks, will be a short prize if she lines up for the Ribblesdale. A setback, however, is Wesley Ward’s decision to book Irad Ortiz Jr for his five-man squad.

Frankie Dettori aboard Stradivarius celebrates his victory at York. Photography: Mick Atkins/ProSports/Shutterstock

Jim Crowley (10-1)

The retained Shadwell Stud rider had a dream reunion in 2020 with six winners but still couldn’t get his hands on the best rider award for the first time, finishing behind Dettori in the countdown after the Italian had a hat-trick on the last day. Crowley should get off to a good start thanks to undefeated miler Baaeed, banker of the week in the opening Queen Anne Stakes on Tuesday, while Mostahdaf (Wolferton Stakes) and Israr (King George V Handicap) will also go to the post with decent chances . and the famous blue and white silks will occupy him throughout the week.

James Doyle

(16-1)

Should arrive confident after winning both Guineas at Newmarket and in addition to Cachet, the 1,000 Guineas winner, at Friday’s Coronation, Doyle can expect to climb several second ropes live from the Appleby yard. He has ‘only’ 17 wins at Royal Ascot since leaving in 2013 and will therefore need to increase his strike rate considerably, but has at least shown a tendency to be feast or starve at this meeting in the past, most memorable when adding the next two races after his first victory nine years ago.

Quick Guide

Sunday advice from Greg Wood

Spectacle

Doncaster: 1.37 Zumurud, 2.12 Maxi King, 2.47 Laasudood (nb), 3.22 Real Dream, 3.57 Ready Freddie Go, 4.32 Golden Duke, 5.07 Shabs, 5.42 Pepper Arden.

Salisbury: 2.05 My Rosa’s Gold, 2.40 Rose Barton, 3.15 Rose Prick, 3.50 Benefit (nap), 4.25 Hamaamm, 5.00 Saigon, 5.35 Caius Chorister.

Thank you for your opinion.

Tom Marquand (16-1)

Has the first call for most runners in the William Haggas stable, which puts Marquand with an outward cry, and Bashkirova (Duke Of Cambridge Stakes), Addeybb (Wolferton Stakes) and Sacred (Platinum Jubilee) are among his possible contenders one-digit odds.

Hollie Doyle (20-1)

Last year’s Goodwood Cup winner Trueshan is Doyle’s main entry in Thursday’s Gold Cup, but she’s sure to have a lot more trips than she’s had before (14 and 17 over the course of of the past two seasons) and also getting lucky along the way to beat Moore, Dettori and Buick.

An interest in the Drivers’ title race at Royal Ascot can make a single bet last all week and with Moore and Dettori having 15 previous awards between them, this could be the year Buick makes its mark. He has the right mix of favorites, potentially top class juveniles and will fight bids in any race where Appleby doesn’t have a runner, so 3-1 seems like a fair price for Buick to win the prize for the first time. .

]]>
Ilkay Gündogan’s ‘completely open’ future as Barcelona ‘dream club’ shows interest – report https://acamet.org/ilkay-gundogans-completely-open-future-as-barcelona-dream-club-shows-interest-report/ Fri, 10 Jun 2022 07:00:00 +0000 https://acamet.org/ilkay-gundogans-completely-open-future-as-barcelona-dream-club-shows-interest-report/

Manchester City star and German international midfielder Ilkay Gündogan has long been a dream signing for Barcelona fans, and apparently he also views a move to Barca as a dream transfer.

That’s according to a report from reliable German outlet Bild, which claims that Gündogan is in no rush to sign a new contract with the Premier League champions and could consider leaving City this summer. With just one year remaining on his contract, the 31-year-old is said to be available at a reasonable price which could serve a Barca side struggling with serious financial problems as they look to strengthen the squad.

The report states that Barca and Juventus are the two teams that have shown interest in the player, who has had the Catalans as his ‘dream club’ since childhood. Gündogan appears to have the same wish as his former Borussia Dortmund team-mate Robert Lewandowski, who also has a year left on his current deal with Bayern Munich and wants a move to Barca this summer.

The Blaugrana have already signed Franck Kessié from AC Milan for the midfield position and don’t seem set to make any other big moves in the middle of the park, but those plans will have to change if Manchester United decide to overpay Frenkie De Jong. Xavi Hernández has already made it clear that he wants Barca to replace Frenkie with Gündogan City team-mate Bernardo Silva, but Pep Guardiola’s side will certainly demand a hefty fee for the Portuguese midfielder.

If De Jong is sold and Bernardo turns out to be too expensive, then Gündogan becomes a very attractive option. He overcame the injury problems that plagued the early years of his career and became a very reliable player at City, with great passing ability and a knack for scoring big goals like the two he got last day of the Premier League season to hand City the title.

For now it’s just a rumor, but for my part, I would not be angry at all if it becomes reality.

]]>
Column: Cut funds carry copper bets as China recovery hopes grow : Andy Home https://acamet.org/column-cut-funds-carry-copper-bets-as-china-recovery-hopes-grow-andy-home/ Wed, 08 Jun 2022 00:00:00 +0000 https://acamet.org/column-cut-funds-carry-copper-bets-as-china-recovery-hopes-grow-andy-home/

Excavators and drillers at work in an open pit at Tenke Fungurume, a copper and cobalt mine 110 km (68 miles) northwest of Lubumbashi in the copper-producing southern Congo, File. REUTERS/Jonny Hogg

Join now for FREE unlimited access to Reuters.com

LONDON, June 7 (Reuters) – The bear’s attack on copper appears to be over for now.

Fund managers have reduced their short positions in CME and London Metal Exchange (LME) copper contracts over the past two weeks as China gradually emerges from lockdowns.

Beijing’s zero-COVID policy hurt both manufacturing activity and end-consumer demand in the first half. But the lifting of lockdowns, particularly in Shanghai, and the shift in policymakers’ focus towards boosting economic growth point to a recovery in the world’s biggest buyer of copper.

Join now for FREE unlimited access to Reuters.com

The strength of this recovery, however, remains a hotly debated topic in the industrial metals sector.

This uncertainty is why fund managers have actively reduced short exposure, but do not yet show an inclination to play copper on the long side.

Positioning of Money Manager on the CME HG copper contract

BEAR RETREAT

Fund managers are still short on the CME copper contract, but net bearish positioning has been reduced from 17,736 contracts in mid-May to 9,588 according to the latest Trader Commitments report.

All of the action came from short hedging, which in part reflects the symbiotic relationship between price and algorithm-based fund trading.

The LME’s three-month copper rebounded sharply from a low of $8,938 a tonne on May 12 to a high of $9,916 on Monday, stopping bearish short positions along the way.

The collective fund’s short position in London was reduced from nearly 29,000 lots on May 18 to just 11,300, according to LME broker Marex Spectron, which uses its own methodology to assess speculative flows. Expressed as a percentage of open interest, the collective bear bet has been reduced from 20% to 8% in the London contract.

However, there is no evidence that the funds are ready to actively participate in China’s recovery story yet.

Long positions in the CME contract have barely budged in the past month and “limited risk appetite” remains a defining characteristic of copper and other LME metals markets, Marex noted in its daily briefing on Tuesday.

A PROVISIONAL RESUME

This includes China itself, where market sentiment is teetering with the political tussle between coronavirus containment and economic growth.

The contraction in the country’s manufacturing sector slowed markedly in May, judging by improved results from the official sector indexes and Caixin purchasing managers. Read more

A package of 33 stimulus measures aimed at reviving the economy included more spending on infrastructure, a key driver of end-use demand for copper. Read more

However, the outlook for China’s real estate sector, the other driver of domestic copper consumption, is decidedly cloudy.

The strength of any recovery remains highly uncertain as it will be determined by Beijing’s ongoing battle to contain the Omicron variant of the coronavirus. More lockdowns mean more problems for copper demand.

LACK OF COPPER?

However, even a moderate recovery in Chinese copper demand through the end of the year could catch up with a domestic market that appears to be physically short of the metal.

Stocks on the Shanghai Futures Exchange (ShFE) fell from a Lunar New Year peak of 167,951 tonnes to 43,347 tonnes.

The ShFE futures curve is shifted to the December 2022 contract, unlike the London market, where the benchmark three-month cash spread is trading around the level.

Domestic supply has stuttered as Chinese foundries struggle with logistics and worker availability during continued shutdowns.

Domestic refined copper production fell nearly 1% in the first four months of this year, according to state research house Antaike.

The physical premium for copper in Yangshan, a closely watched indicator of China’s import appetite, is currently valued at $63.50, down from near zero in March.

Still, China’s net imports in April of 227,000 tonnes were the lowest since August 2021. Exports of 61,000 tonnes, counterintuitive given the arbitrage, were the highest monthly tally since July 2016.

Apparently, many in China itself are still unconvinced of the strength of the rebound to come.

NO PURCHASE

The copper market narrative around China is shifting from bearish to bullish as the country takes tentative steps out of mass lockdowns.

Shanghai’s copper inventory and curve structure suggests a domestic market that is not yet prepared for a significant rebound in demand without a shift in imports.

This is a tantalizing prospect for copper bulls.

But it is clear that the fund community is not yet convinced. Speculative bears could pull back. But the fund bulls are conspicuous by their absence.

The opinions expressed here are those of the author, columnist for Reuters.

Join now for FREE unlimited access to Reuters.com

Editing by Edmund Blair

Our standards: The Thomson Reuters Trust Principles.

The opinions expressed are those of the author. They do not reflect the views of Reuters News, which is committed to integrity, independence and non-partisanship by principles of trust.

]]>
Banks and commodities stocks push European stocks higher as markets await ECB meeting https://acamet.org/banks-and-commodities-stocks-push-european-stocks-higher-as-markets-await-ecb-meeting/ Mon, 06 Jun 2022 08:37:00 +0000 https://acamet.org/banks-and-commodities-stocks-push-european-stocks-higher-as-markets-await-ecb-meeting/

The DAX chart of the German stock price index is pictured on the stock exchange in Frankfurt, Germany, June 2, 2022. REUTERS/Staff

Join now for FREE unlimited access to Reuters.com

  • China Lifts More COVID-19 Curbs; miners’ luxury stocks rise
  • British Prime Minister Johnson will face a vote of no confidence later on Monday
  • ECB decision on Thursday, US inflation on Friday
  • Increase in Melrose on sale of unit; Clontarf dives

June 6 (Reuters) – European stocks rose sharply on Monday, helped by banks and commodity-related shares, as investors kept tabs on U.S. inflation data and details of a the European Central Bank later this week.

The pan-European STOXX 600 index (.STOXX) rose 0.8% after finishing down 0.9% last week on concerns over economic growth, amid rising prices and bets on the tightening of monetary policy by the main central banks.

Banks (.SX7P), which typically appreciate in a high interest rate environment, rose 1.4% on Monday.

Join now for FREE unlimited access to Reuters.com

Miners (.SXPP) climbed 2.0%, while luxury stocks also rallied. Both sectors are drawing significant demand from China and have increased after authorities further eased restrictions in Beijing and Shanghai.

This morning’s buying is boosted by the easing of COVID-19-related restrictions in China and strong US jobs data last week, allaying some concerns that aggressive Reserve tightening U.S. federal government will tip the U.S. economy into recession, said Stuart Cole, chief macro strategist at Equiti Capital.

London’s commodity-heavy FTSE 100 (.FTSE) jumped 1.2% after a long weekend.

British Prime Minister Boris Johnson will face a vote of confidence later on Monday, 1922 committee chairman Graham Brady has told lawmakers, after a report documented alcohol-fueled parties as the Great Britain was under strict COVID lockdowns. Read more

“The market will see Johnson lose as … allowing the government, under a new leader, to finally focus on the broader issues of the day, such as the cost of living crisis,” Cole said.

On Thursday, the European Central Bank is expected to confirm an end to bond buying this month and investors will be looking for more clues on the pace and magnitude of the increases.

Investors stepped up bets on ECB interest rate hikes this year after data last week showed eurozone inflation hit a record high. A bigger hike of 50 basis points at one of the bank’s policy meetings by October is on the cards.

Meanwhile, US inflation data due Friday is expected to show a month-on-month rise. The Fed signaled rate hikes this month and next before pausing to assess economic data. But May’s inflation data could see the money market speculating on an extended rate hike cycle.

Among other stocks, auto parts supplier Melrose Industries Plc (MRON.L) rose 4.0% after agreeing to sell its Ergotron unit for $650 million. Read more

Clontarf Energy Plc (CLON.L) fell 69.3% after Western Gas said its Sasanof-1 exploration well off Western Australia found no hydrocarbons. Clontraf is one of Western Gas’ partners in the Sasanof-1 well. Read more

Join now for FREE unlimited access to Reuters.com

Reporting by Susan Mathew in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber

Our standards: The Thomson Reuters Trust Principles.

]]>
CPO futures should see cautious trading next week https://acamet.org/cpo-futures-should-see-cautious-trading-next-week/ Sat, 04 Jun 2022 03:25:00 +0000 https://acamet.org/cpo-futures-should-see-cautious-trading-next-week/

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade on a cautious tone next week ahead of the release of major harvest reports the same week, a dealer said.

Anilkumar Bagani, head of commodity research at Mumbai-based Sunvin Group, said next week was very important as the Malaysian Palm Oil Board (MPOB) report would release its data on June 10.

“Destinations were mostly quiet this week with the exception of China and next week palm oil prices will need to be offered competitively to attract new purchases.

“We estimate that CPO futures will trade in a wider range of RM6,200 to RM6,700 per tonne next week, depending on the performance of the soybean oil market,” he said. told Bernama.

He said CPO futures closed the last day of the week lower on a cautious note ahead of the Monday bank holiday.

“The palm oil market has been through a turbulent period amid flip-flops in Indonesian palm oil export policy, slower than required export permit allocations, production issues Malaysian palm oil companies due to lack of foreign labor issue and protracted Ukrainian Russia,” he added.

Meanwhile, palm oil trader David Ng said CPO futures are likely to trade with an upward bias as crude oil prices are stronger and strong fundamentals to keep prices supported.

“I believe in strong fundamentals next week mainly on the expectation of weaker production and lower inventories.

“We expect the price to trade between RM6,200 and RM6,700 next week,” he said.

For the past week, Malaysian palm oil futures ended mostly lower as Indonesia resumed palm oil exports, putting pressure on the performance of Malaysian palm oil.

From Friday to Friday, June 2022 spot month fell RM175 to RM6,704 per ton, July 2022 fell RM17 to RM6,675 per ton, Aug 2022 rose RM100 to RM6,453 per ton ton, Sep 2022 gained RM108 to RM6 257 per ton, Oct 2022 added RM103 to RM6,146 per ton and Nov 2022 increased by RM99 to RM6,098 per ton.

Weekly volume fell to 320,844 lots from 325,550 lots last week, while open interest improved to 259,763 contracts from 204,474 contracts previously.

The physical CPO price for June South fell by RM150 to RM6,800 per ton. – Bernama

]]>