CME Group

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On Monday afternoon at the Boston Marathon, there were two large explosions near the finish line, killing at least two people and injuring dozens more. These atrocities were caught on camera via the media who covering the sporting event. Initially there was rumour and speculation as to the cause or who might be responsible however it seems too early to speculate without fact. The FBI has taken over the investigation into the explosions, with social media having a notable part in the rapid re…

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**US Exchanges will be closed again today due to Hurricane Sandy, this means that Abshire-Smith clients are unable to trade US Indices** Headlines UBS shares rally after announcement of cost cutting , with the loss of 10,000 jobs in the investment bank Direct Line cuts 70 jobs in senior management as part of £100m cost saving plans by 2014 New Look has moved to reassure suppliers over its financial position, following an industry blog stating it was poised to en…

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During the Asian session equities fell the most in two weeks after the release of Chinese manufacturing data, showing that its manufacturing sector is likely to contract in September for an 11th month. The Asian selloff continued after the release of Japanese exports down by 5.8% from August compared to the previous year. This week has seen WTI Crude fall by nearly $10 from high to low currently trading with a $90 handle trading at a 6-week low. This follows the sudden selloff on Monda…

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During the US trading session on Monday, there was a sudden drop in a matter of minutes of just over $4 in WTI and Brent. This sudden movement led to a selloff in equities, gold and silver. Speculation and rumours as to the reasoning were that there had been a “fat finger,” an algorithm that had gone wrong and that there was an announcement of a special petroleum release (SPR). The CME Group quickly released a statement that they “..we’re not aware of any technical is…

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Following the attack on the US embassy in Libya and the murder of the US ambassador, commentators are citing the possibility of the unrest spreading across the region. Anger was vented against the US in retaliation to a film published by a US citizen that was felt mocked and undermined the Islamic faith. If there is unrest spirals and is widespread this is likely to impact on Oil prices due to the stability in the Middle Eastern region. Expectation and rumours surround the capped EURCH…

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