GLOBAL MARKETS: Dollar at 3-year low on Fed outlook, silver glitters
HONG KONG, April 29 (Reuters) - The dollar floundered at three-year lows against a basket of currencies on Friday as players ratcheted up bets on the Fed's ultra-easy monetary stance, sending commodities like silver to a record high and keeping stocks well supported.
"The likely indicator of a reversal in the USD's (mis)fortunes is global equities. A sustained bout of profit-taking would assuredly spillover into foreign exchange markets, with the EUR and AUD returning back to earth," said Michael Woolfolk, strategist at BNY Bellon.
OIL: US crude hits 31-month high as dollar weakens
NEW YORK, April 28 (Reuters) - U.S. crude oil futures rose on Thursday to hit a 31-month high settlement after a volatile trading session that saw a weak dollar attract investors seeking alternative assets.
"The Fed did not give commodities traders any reason to think that the dollar's fall will be stemmed, creating incentive to keep buying commodities," said Stephen Schork, president at the Schork Group in Villanova, Pennsylvania.
NATURAL GAS: Natural gas ends up near 4 pct, prices spike on EIA
NEW YORK, April 28 (Reuters) - U.S. natural gas futures ended up sharply on Thursday and the new front-month contract spiked to a three-month high after a government report showed a weekly inventory build well below market expectations.
"The (EIA build) number was a little low, so they ran it up, but a lot of the (recent) buying is the nuclear situation. There's a high percentage of units down, and it's boosting demand," a Chicago-based trader said.
EURO COAL: Natural gas ends up near 4 pct, prices spike on EIA
NEW YORK, April 28 (Reuters) - U.S. natural gas futures ended up sharply on Thursday and the new front-month contract spiked to a three-month high after a government report showed a weekly inventory build well below market expectations.
"The (EIA build) number was a little low, so they ran it up, but a lot of the (recent) buying is the nuclear situation. There's a high percentage of units down, and it's boosting demand," a Chicago-based trader said.
COMMODITIES: Gold, silver set new highs as Fed sparks buying
NEW YORK, April 28 (Reuters) - Gold set its ninth all-time high in 10 days on Thursday, silver logged its first record in 31 years and aluminium neared a three-year peak as investors poured cash into commodities a day after the U.S. Federal Reserve signaled it would extend its loose monetary policy.
"The biggest factor (in the GDP data) was weather. It hurt consumption and construction. Energy also hurt consumption as well. Higher gasoline prices took a bigger bite out of people's budget," said Stephen Stanley, chief economist at Pierpont Securities in Stamford, Connecticut.
US crude oil imports down in February-EIA
WASHINGTON, April 28 (Reuters) - U.S. crude oil imports in fell in February, after increasing for three consecutive months, the Energy Information Administration said on Thursday.
Crude imports averaged 8.013 million barrels per day in February, down 1.056 million bpd from January. Crude imports were down 667,000 bpd from the previous year.
Exxon, Shell profits surge on higher oil prices
LONDON/NEW YORK, April 28 (Reuters) - Exxon Mobil Corp and Royal Dutch Shell Plc reported significantly bigger first-quarter profits and beat analysts' forecasts, helped by high oil prices and strong refining margins.
Profits for the world's biggest oil producers have surged as oil prices moved above $100 per barrel in the first quarter on unrest in the Middle East and Africa and growing global demand for energy.
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