NEW YORK—The Commodity Futures Trading Commission ordered Newedge USA LLC to pay a $700,000 civil penalty, saying the futures clearing firm submitted inaccurate reports on traders' positions to the regulator.
Monday, January 9, 2012
Gold and Natural Gas Down, Grains and Softs Up
Oil traded near the lowest level in a week as Morgan Stanley said petroleum-market fundamentals are deteriorating and Europe’s struggle to save the euro countered concern that Iran may disrupt Middle East crude exports.
Corzine Sued by Montana Farmers
Jan. 9 (Bloomberg) -- Jon Corzine, former chief executive officer of collapsed commodity brokerage MF Global Holdings Ltd., was sued for fraud by Montana farmers who claim he oversaw the misappropriation of their commodity trading account funds.
Euro Holds Gains
The euro held a one-day gain versus the dollar before Germany’s chancellor and the International Monetary Fund’s managing director meet amid optimism Europe’s leaders are taking steps to resolve the debt crisis.
Goldman says ‘Overweight’ Commodities
Jan. 9 (Bloomberg) -- Goldman Sachs Group Inc. is staying “overweight” on commodities as a rebound in demand revives speculation of shortages, with gold a favorite for 2012 as investors seek a hedge against Europe’s debt crisis.
Crude Tiptoes Between The Euro and Iran
NEW YORK (Dow Jones)--Oil futures finished with a slight decline Monday, as the market remains balanced between fears euro-zone debt woes could hurt the global economy and worries tensions between Iran and the West could erupt and lead to supply shortages. Crude prices drifted in this equilibrium for much of the day with little other direction, in the absence of new economic data or significant moves in the stock market.
Bullish bets on commodities surge
CHICAGO: Hedge funds raised their wagers on higher commodity prices by the most since July 2010 after signs of accelerating US growth bolstered optimism that demand for raw materials will strengthen.
Goldman Stays ‘Overweight’ on Commodities
Jan. 9 (Bloomberg) -- Goldman Sachs Group Inc. is staying “overweight” on commodities as a rebound in demand revives speculation of shortages, with gold a favorite for 2012 as investors seek a hedge against Europe’s debt crisis.
Coffee Futures Slumps
Forexpros – Coffee futures were down on Monday, as favorable weather in top growers Brazil and Colombia helped ease fears over crop conditions in the South American counties.
Cocoa Futures Jump
Cocoa surged the most since October 2009 as a labor stoppage threatened to disrupt supplies from Nigeria, the world’s fourth-biggest producer. Sugar and coffee also advanced.
Euro Bounces
The euro rallied from a 16-month low against the dollar on Monday as participants pared bearish bets on the single currency ahead of key European events this week, although investors remained overwhelmingly negative due to sovereign debt concerns.
Is the Dollar your Best Bet?
The death of the dollar is among the sort of attention getting features the media favors and for some time between 2008 and today, it seemed that the greenback was to volatile and weak to maintain dominance. Today though, the hype seems overblown as a technically stronger U.S. economy indicates the Fed may not need to endure a third round of bond purchases or quantitative easing.
Natural Gast Futures Lower
NEW YORK (Dow Jones)--Natural gas futures retreated Monday, as weather forecasts continued to project above-average temperatures over the next several weeks, damping expectations for a near-term jump in demand.
U.S. Banks to make more commodity loans
Goldman Sachs Group Inc. (GS) said U.S. and Asian lenders will boost their share of commodity trade financing as European banks curb loans, making disruptions in the markets unlikely while traders’ borrowing costs may rise.
Head of the Swiss Central Bank Resigns
FRANKFURT — The head of the Swiss central bank unexpectedly resigned Monday, saying that doubts about currency trades he and his wife made last year threatened to undermine his ability to focus solely on steering the bank through a global financial crisis.
Speculators Are Bullish
Jan. 9 (Bloomberg) -- Hedge funds raised their wagers on higher commodity prices by the most since July 2010 after signs of accelerating U.S. growth bolstered optimism that demand for raw materials will strengthen.
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