Me and Eamonn both highlighted the bearish outside day in oil yesterday and it’s coming to pass. There was a bearish outside day yesterday and it came after a test of the 50-61.8% fibonacci retracement level of the June swoon. OPEC+ today was a non-factor as it endorsed the August production hike that was already
Month: June 2022
There are some crosscurrents at the moment as equities bounce somewhat so the picture isn’t entirely clear but the US dollar is finding an extra gear into the London fix. It’s quarter-end so there will be some large fixing flows this week and Citi models (which I published earlier this week) called for USD strength.
New York: The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fuelled inflation plaguing the global economy. The increase of 648,000 barrels per day in August leaves the world thirsty for oil
Euro is under broad-based pressure today as selloff against Swiss Franc spreads to other pairs. Yen is currently the best performer following another round of pull back in Germany, and to a lesser extent US, benchmark yields. Aussie and Kiwi are also recovering while Dollar is firm. But for the week, Swiss Franc is still
The Walgreens store at State and Randolph Streets in Chicago. Nancy Stone | Chicago Tribune | Tribune News Service via Getty Images Walgreens Boots Alliance on Thursday reported quarterly sales and earnings that came in above expectations as it grew online sales and continued to administer Covid-19 vaccines. The drugstore chain stood by its outlook
BBIG stock closes 5% lower on Wednesday at $1.97. Cryptyde set to launch under the ticker TYDE. BBIG holders get 1 TYDE share for every 10 BBIG shares held. UPDATE: BBIG stock is crashing on Thursday. Only a day after Vinco Ventures finally separated from Cryptide, which was much awaited from shareholders, BBIG shares are down
It’s been another day of watching the ripples of contagion spread through the crypto market. With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the fallout from the insolvency was partly to blame for lending firm and market
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China’s official June PMIs posted a solid improvement in June as COVID restrictions eased back in major cities. All three PMIs (manufacturing, non-manufacturing and therefore the composite) moved above 50 and into expansion after 3 months in contraction. A spokesman from China’s National Bureau of Statistics (the publisher of these official PMIs) did flag that
Gold firmed on Thursday as U.S. Treasury yields dipped, but faces its worst quarter since early 2021, as the dollar cemented its place as the safe-haven asset of choice, amid top central banks adopting aggressive tactics against runaway inflation. FUNDAMENTALS * Spot gold was up 0.1% at $1,818.31 per ounce by 0115 GMT. U.S. gold
Risk-off sentiment is back in Asia today, after US stocks were sold off on poor consumer confidence data. In the currency markets, trading is relatively subdued, with Euro and Dollar trading in soft tone. Canadian Dollar and Swiss Franc are the strongest ones for the week. In particular, Swiss Franc is extending up trend against
GBP/USD remains pressured around two-week low, prints four-day downtrend. Clear downside break of seven-week-old horizontal area joins bearish MACD signals, downbeat RSI to favor sellers. Bulls to remain skeptical unless crossing monthly resistance line. GBP/USD struggles around a fortnight low while defending 1.2100 during Thursday’s Asian session. In doing so, the Cable pair portrays the
Today, China cut the time inbound visitors have to stay in quarantine from 3 weeks to 10 days. This sign of easing is positive for the Chinese stock market The CSI 300 index is one of China’s most watched stock market indices. It follows 300 large and medium-sized stocks in Shanghai and Shenzhen The chinese
Prior was +1956K Distillates +2559K vs +328K exp Gasoline +2645K vs -452K exp Refinery utilization +1.0% vs +0.5% exp This is a two-for-one report because of technical problems last week. The headlines for the latest week mirror the API data released late yesterday: Crude -3799K Gasoline +2852K Distillates +2613K Cushing -650K ADVERTISEMENT – CONTINUE READING
New Delhi: Gold price in the national capital fell by Rs 176 to Rs 50,649 per 10 grams on Wednesday, reflecting a decline in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,825 per 10 grams. Silver also fell by Rs 443 to Rs 59,725
Swiss Franc continues to rise broadly today, with additional help from selloff in Euro. The common currency is weighed down by Germany CPI, which unexpectedly slowed in June. But for now, Aussie, Sterling and Yen are even weaker than Euro. On the other hand, Canadian Dollar is second strongest as supported by rebound in oil
In this article BBBY A pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty Images Bed Bath & Beyond said Wednesday that it is replacing CEO Mark Tritton as part of a leadership shakeup as the retailer’s quarterly sales and earnings sharply missed Wall Street expectations. Shares
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