Malaysian palm oil/Vegoils: Market factors to watch Thursday Feb 7
07.02.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Feb 7.
FUNDAMENTALS
* Malaysian palm oil futures rose on Monday, charting a third session of gains in five, on the back of expectations of easing inventory levels.
* U.S. soybean futures edged higher on Wednesday as the government confirmed more soy purchases by China, but the market remained largely static as traders waited for a raft of U.S. crop data due on Friday, some of it delayed by the government shutdown.
* Oil prices rose about 1 percent on Wednesday, boosted by signs of strong U.S. demand for distillate products and tightening global crude supply, but gains were capped by a rising U.S. dollar and ongoing concerns about a global economic slowdown.
MARKET NEWS
* The Australian dollar tumbled on Wednesday after the country's central bank signaled a possible interest-rate cut in the latest indication that a global economic slowdown is tilting policymakers toward looser monetary policy, while a gauge of world equity markets edged off two-month highs.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Feb 1-10 palm oil export data on Feb 11.
Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 11.
Cargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 11. - Reuters