Futures Market News & Reviews

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LATEST WEEKLY MARKET VIEWS (17/02/2020)

(1) Crude Palm Oil 

Malaysian palm oil futures rose on last Friday, tracking an uptick in soyoil, but expectation of lower February exports amid the coronavirus outbreak in China capped gains with the edible oil marking a weekly drop of more than 5%. The benchmark contract April 2020 closed 34 ringgit, or 1.3%, higher at 2,659 ringgit ($642.89), after touching its lowest since February 3.

Read More: Crude Palm Oil Weekly.

ITS, SGS and MPOB data

 

(2) Metals

Gold price posted a solid gain last week as investors assessed the risks to global economy from the coronavirus epidemic. Last week, April Comex Gold settled at $1586.40, up $13.00.

Read More: Metals Weekly

 

(3) Crude Oil

Oil prices edged up Friday and held on track for their first weekly gain since early January, backed by expectations that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic. Prices were trading in a weekly range between $49.42 and $52.34 per barrel.

Read More: Crude Oil Weekly

 

(4) Financial Weekly

Bursa Malaysia ended higher last Friday as market sentiment was lifted following news that the government will unveil an economic stimulus package to address the Covid-19 outbreak on February 27.

Read More: Financial Weekly

 

(5) Grains Weekly

CBOT May Soybean futures rose0.9% last week, its second straight weekly rise.

Read More: Grains Weekly

 

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