WTI Crude Trades Near Four-Week High Before U.S. Economic Data

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West Texas Intermediate traded near the highest price in more than four weeks before data that may signal the strength of the economy in the U.S., the world��s biggest oil consumer.

WTI for July delivery was at $104.29 a barrel in electronic trading on the New York Mercantile Exchange, down 6 cents, at 11:49 a.m. Sydney time. Yesterday��s transactions will be booked with today��s for settlement purposes. The contract gained 61 cents to $104.35 on May 23, the highest close since April 21. The volume of all futures traded was four times the 100-day average. Prices have increased 6 percent this year.

Brent for July settlement was 14 cents higher at $110.46 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $6.17 to WTI, compared with $6.19 on May 23.

Copy Source: Bloomberg

Yen Falls as Global Easing Bets Sap Haven Bid; Aussie, Kiwi Rise

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The yen fell to the lowest in a week against the euro as gains in Asian stocks and speculation policy makers globally will add to measures supporting growth damped demand for haven assets.

Japan currency dropped versus all except two of its 16 major counterparts before Bank of Japan Governor Haruhiko Kuroda speaks at a conference tomorrow. The Australian and New Zealand dollars climbed, paring declines this month. The euro was set for its biggest monthly drop since January after European Central Bank President Mario Draghi signaled yesterday policy makers are ready to expand stimulus should inflation slow. The dollar remained lower versus most peers before data today forecast to show durable goods orders fell.

The yen lost 0.1 percent to 139.30 per euro at 11:17 a.m. in Tokyo from yesterday, after touching 139.37, the weakest level since May 16. It was unchanged at 101.94 per dollar in New York, when it touched 102.05, the weakest since May 15. The euro gained 0.1 percent to $1.3665 after falling to as low as $1.3615 yesterday, a level unseen since Feb. 13.

Australia��s dollar rose 0.2 percent to 92.56 U.S. cents. New Zealand��s currency gained 0.2 percent to 85.69 U.S. cents.

The MSCI Asia Pacific Index of shares climbed 0.2 percent.

Gold Trades Below $1,300 on New Ukraine President, Euro Weakness

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Gold traded below $1,300 an ounce as investors assessed whether the election of Ukraine��s president will ease tension with Russia and as the euro weakened against the dollar, reducing the appeal of the commodity.

Bullion for immediate delivery was at $1,292.72 an ounce at 8:53 a.m. in Singapore from $1,292.91 yesterday, according to Bloomberg generic pricing. Gold has risen 7.6 percent this year partly on tension between Ukraine and Russia.

Ukraine��s President-elect Petro Poroshenko vowed to step up operations to rein in separatists in the east of the country as fighting continued after the weekend election. Gold is little changed this month as the euro lost 1.4 percent versus the dollar, reaching a three-month low yesterday, as European Central Bank President Mario Draghi signaled policy makers are ready to add stimulus in June. Dollar-denominated gold becomes more expensive for holders of other currencies when the greenback strengthens.

Gold for August delivery traded at $1,292.70 an ounce on the Comex in New York from $1,291.90 on May 23. U.S. markets were closed yesterday for the Memorial Day holiday and transactions will be booked today for settlement purposes.

Silver for immediate delivery traded at $19.445 an ounce from $19.4351 yesterday. Prices are set to snap two months of losses.

Platinum rose 0.2 percent to $1,479.31 an ounce after climbing to $1,496.38 on May 22, the highest level since September. Palladium was little changed at $833 an ounce after reaching $839 on May 22, the highest since August 2011. The metal is heading for a fourth month of gains in the longest such rally since January 2011.

Copy Source: Bloomberg

Gold Holds Below $1,300; U.S. Economy Weighed Against Ukraine

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Gold held below $1,300 an ounce as investors weighed the outlook for U.S. monetary stimulus against unrest in Ukraine. Assets in exchange-traded funds backed by platinum and palladium climbed to records.

Gold fell 28 percent last year on expectations the Federal Reserve will reduce bond purchases as the economy improves. Prices rebounded 7.6 percent this year partly on tension between Ukraine and Russia. It��s Memorial Day in the U.S.

Gold for immediate delivery dropped 6 cents, or less than 0.1 percent, to $1,292.55 an ounce today in London, according to Bloomberg generic pricing. Prices dropped 0.1 percent on May 23 after sales of new homes in the U.S. increased the most since October.

Futures for August delivery rose 0.1 percent to $1,292.70 an ounce on the Comex in New York. Investors cut their net-long positions on gold for a second week to 90,358 contracts in the week ended May 20, U.S. Commodity Futures Trading Commission data show.

Source : Bloomberg

Dollar falls versus euro, rises against yen

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MADRID -- The U.S. dollar fell against the euro on Monday, but the single currency stayed near three-month lows after European Central Bank President Mario Draghi hinted of monetary policy easing.

The dollar rose to $1.3642 from $1.3630 in late North American trading on Friday. Expectations that the ECB will ease monetary policy when it meets next week have pressured the single currency in recent weeks.

Draghi was speaking at the ECB Forum near Lisbon and spoke of a risk of deflationary expectations if low prices continue, which could weigh on spending. "We are not resigned to allowing inflation to remain too low for too long," he said.

The dollar was on solid footing against the Japanese yen trading at 101.90 from ¥101.97 in the prior session. The ICE dollar index, which weighs the greenback against six other currencies, rose to 80.291 from 80.374 in Friday's late North American trading.

Source : MarketWatch