Articles by Court
Morning Crude Oil Market Report 9/12
September 12 2012 11:10 AM
October crude oil prices traded higher during the initial morning hours, climbing toward their August high of $98.29. A good portion of the early support seemed to come from a favorable macroeconomic tone, fueled in part by a German court ruling in favor of ESM bailout fund and weakness in the US dollar. Another source of support for the crude oil market came on reports from Libya's deputy Prime Minister that the US ambassador to Libya was killed during an attack.
Morning Silver Market Report 9/12
September 12 2012 11:09 AM
The German High Court's refusal to block ratification of the ESM overnight helped push December silver to a new high for the week and to its highest level since March 12th. With that ruling out of the way, the market will focus on today and tomorrow's FOMC meeting.
Morning Gold Market Report 9/12
September 12 2012 11:08 AM
The gold market got a boost overnight after the German High Court refused to block ratification of the European Stability Mechanism. This lent support to the Euro and sent the Dollar Index to its lowest level since May 4th, which was enough to push December gold to its highest level since February 29th. With that out of the way, the market can now focus on the FOMC meeting today and tomorrow.
Morning Platinum Market Report 9/12
September 12 2012 11:07 AM
October platinum has posted huge gains this morning, and is now more than $100 higher for the month of September. Although some traders feel that there has been broad-based support from the German ESM court ruling and a sharply lower Dollar, most in the market feel that platinum's main source of strength continues to come from labor unrest in South Africa.
Morning Copper Market Report 9/12
September 12 2012 11:06 AM
December copper prices have posted moderate gains this morning and have risen to their highest levels since early May. Today's German ESM court ruling was widely seen to have given a clear boost to commodity risk sentiment, and has provided solid support throughout the metals markets. A plunging Dollar as well as moderate strength in European and US equity markets are also expected to provide an additional boost to copper prices this morning.
German ESM Ruling: World Stocks Rally, But Don’t Sound The All-Clear Yet
September 12 2012 10:17 AM
Market bulls charged on Wednesday -- running U.S. stock futures, European stocks, the euro, oil and gold higher -- in the wake of a German court ruling that backs the country's participation in the euro zone's new bailout fund created to prevent the weakest euro economies from going bust. However, some economists warn that it's too early to sound the all-clear on the fate of the single currency bloc.
EUR/JPY Breaks Consolidation Toward 101.35-101.65 Resistance
September 12 2012 9:46 AM
The EUR/JPY is starting to rally again after a brief consolidation seen in the 1H chart since 9/6. The breakout occurred during the 9/12 European session, when the German court ruling basically gave the ESM a go. The euro firmed across the board. EUR/JPY had a brief retest of the consolidation zone, but bounced back up to confirm the breakout.
EUR/USD – Can 1.30 Provide Resistance Ahead of the Fed Meeting?
September 12 2012 9:45 AM
As the EUR/USD is accelerating after breaking above the 1.2750 June high. The rally in the euro against the US dollar is on the back of both QE3 expectation for the Fed, which pressures the US Dollar, and hope surrounding the bailout plans in the eurozone, which lifts demand for the euro.
Trading Ideas on GBP/USD, AUD/USD and USD/CHF
September 12 2012 9:43 AM
The market reacted after the German court ruled in favor of the ESM that left the Dollar weak against all currencies. The pair did achieve its down side target of 0.9340 which is its channel support on the daily chart, there are good chances that the pair will break this trend line but prior to that we can see it bouncing from here towards 0.9415 which is its 200 EMA on the daily charts on the daily charts. The trend remains bearish and the upside seems to be capped at 0.9415
The Energy Report - Ok Now It Is the Feds Turn
September 12 2012 9:34 AM
Commodity bulls get the bounce they need as Germany's Federal Constitutional Court Courts ok's The ECB bond buying program with limitations. The court says that that Germany can contribute to the European Stability Mechanism but only up to a contribution of 190 billion euros, or about 240 billion dollars. Of course when it comes to limitations in Europe we already know that things like that are always subject to change. Now the ruling is still requires parliamentary approval of any incre...
Oil gains on euro zone bailout, Libya killing
September 12 2012 9:25 AM
Brent crude oil rose on Wednesday, lifted by a German court decision backing a euro zone bailout fund, hopes the Federal Reserve will ease monetary policy and on growing geopolitical risk after militants killed the U.S. ambassador to Libya. Brent crude for October delivery, which expires on Thursday, rose for a fifth straight session, gaining 55 cents to reach $115.95 a barrel by 8:10 a.m. EDT (1210 GMT). It earlier hit $116.67, its highest point since Aug 16.
London Session: Heading towards 1.30 in EURUSD
September 12 2012 7:25 AM
Eurozone event risk has been front and centre today. Firstly Germany’s top court gave the green light to a longer-term bailout fund for the currency bloc; there was also a State of the Union address by the EU Commission President. By far the most important event for the markets was the German court ruling. But what does it actually mean for risky assets?
Pre-Market Movers (Alcatel, Nokia, Sohu.com, Facebook, Barclays, Cognizant, Morgan Stanley, Apple, Banco Santander)
September 12 2012 6:36 AM
Alcatel Lucent SA, Nokia Corp, Sohu.com, Facebook, Barclays, Banco Santander, Cognizant Technology Solutions Corp, Morgan Stanley and Apple Inc. are among the companies whose shares are moving in pre-market trading Wednesday.
German Court Approves Legality Of ESM With Conditions
September 12 2012 4:43 AM
Germany's Constitutional Court Wednesday gave its approval for the implementation of the bailout fund in the euro zone while outlining certain conditions, including Germany's total exposure to the funds.
Sentiment Mildly Positive ahead of German Constitutional Court’s Ruling
September 12 2012 3:58 AM
Financial markets steadied as investors awaited German Constitutional Court's ruling on the ESM/fiscal compact and the People's Bank of China reported RMB 704B of new loans in August, up from a disappointing RMB 540B in July. Positive comments from the Troika after meeting with Portuguese and Greek officials also helped sustain sentiment. News reports said that Spain has proposed a 3-step plan towards a Eurozone fiscal union. In the US, Moody's warned of credit downgrade if no progress ...
US Stock Futures Signal Firm Open Amid Fed Easing Hopes
September 12 2012 3:54 AM
The U.S. stock index futures point to a higher open Wednesday as investor confidence was underpinned by expectation that the Federal Reserve will announce stimulus measures this week to invigorate the economy and boost growth.
Gold and Copper Price Update
September 12 2012 3:52 AM
Gold holding in ETP set another record - Copper rises on opinion that Germany will pass bill to aid countries in EZ - US crude crosses 200 day moving average
European Markets Rise Ahead Of Germany’s Court Ruling
September 12 2012 3:39 AM
Most European markets rose Wednesday with investors awaiting Germany's Constitutional Court to approve the euro zone's new bailout fund to help reduce the debt stress faced by the countries in the region.
Asian Stocks Advance Before German Court Ruling
September 12 2012 3:34 AM
Asian stock market advanced Wednesday with investors expecting a positive decision in the German court ruling on ESM constitutionality while speculation of further stimulus measures from China also added to the sentiment.
EUR/USD Up Ahead Of German Court Ruling Today
September 12 2012 12:40 AM
On Tuesday Euro/Dollar increased with 115 pips ahead of German court ruling today. The European currency appreciated from 1.2757 to 1.2871 yesterday, matching the positive money flow sentiment at over 19%, closing the day at 1.2853. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now. On the 1 hour chart the upward channel looks good, while on the 3 hour chart the new upward channel is also intact. Break above the nearest resistance and ye...