The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +8.82 mmb to 1461.16 mmb in the week ended July 24. Crude oil inventory slumped -10.61 mmb (consensus: +0.36 mmb) to 525.97 mmb. Stockpile fell in 4 out of 5 PADDs. PADD 3 (Gulf
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Shipping containers are stacked on a ship docked at Yusen Terminals on Terminal Island at the Port of Los Angeles in Los Angeles, January 30, 2019. Mike Blake | Reuters The United States’ trade deficit in goods fell sharply in June as exports rebounded following several months of decline, suggesting a recovery in global trade
Brian Roberts, chief executive officer of Comcast, arrives for the annual Allen & Company Sun Valley Conference, July 9, 2019 in Sun Valley, Idaho. Drew Angerer | Getty Images Comcast reported its second-quarter earnings before the bell on Thursday, beating analyst estimates on the top and bottom lines. It’s the first earnings report since Comcast’s
Retail traders on Robinhood have been increasingly seeing “fear of missing out” or FOMO rallies around certain stocks. The latest beneficiary has been the stock price of the renowned camera manufacturer Kodak (KODK) whose stock surged from $2 to $60 in one day. Therefore, given the current climate of economic uncertainty and “infinite QE,” if
High extends to 1.18054 The EURUSD approached the low of a resistance area at 1.18147. The high price reached 1.18054 and backed off. The current price is back at 1.1777. Looking at the 5 minute chart, the fall saw the price fall below the 100 bar MA, but found support buyers against its 200 bar moving
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Pune: Copper prices have risen 40% in four months to the highest in 16 months as the pandemic disrupted the supply chain, rating agency ICRA said. “The mining restrictions due to the pandemic is estimated to have resulted in a sharp drop in the production of copper ore during Q2 CY2020. This is progressively resulting
Sterling surges broadly in rather mixed markets today. Rebound in cross against Euro is seen as a major reason for the Pound’s strength. Australian Dollar is following as the second strongest for now, partly listed by cross buying against New Zealand Dollar. Kiwi and Swiss Franc are, on the other hand, the weakest. At this
A sale pending sign is posted in front of a home for sale in San Anselmo, California. Justin Sullivan | Getty Images Pending home sales continued to climb in June, rising 16.6% monthly since May, and rising 6.3% since June 2019, according to the National Association of Realtors. This beats the expectation for the monthly
Boeing 737 MAX airplanes, along with one Boeing 787 at top, are parked at Grant County International Airport October 23, 2019 in Moses Lake, Washington. David Ryder | Getty Images Boeing reported a $2.4 billion loss for the second quarter Wednesday and said it plans to slow production of its main commercial aircraft as the coronavirus
Cameron Winklevoss, the billionaire founder of cryptocurrency exchange Gemini, believes the next Bitcoin (BTC) bull run will be much different. When compared to previous bull markets, Winklevoss noted that there is substantially more capital, infrastructure, and better projects. Winklevoss said: “The next Bitcoin bull run will be dramatically different. Today, there’s exponentially more capital, human
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Battle near the lows as buyers and sellers more balanced at the levels The USDJPY transitioned from non-trend to trend on Friday – breaking below the swing lows at the 106.65 area. The pair has trended lower with the price moving down to a low of 104.793 earlier today. Looking at the hourly chart, that low was able
GBP/JPY gained some positive traction for the third consecutive session on Wednesday. The momentum pushed the cross further beyond a three-day-old ascending channel. The lack of follow-through, overbought RSI on the 1-hourly chart warrant some caution. The GBP/JPY cross edged higher for the third consecutive day and jumped to near one-week tops, around the 136.45
US June 2020 advanced goods trade data Prior was -$74.3B Imports $173.23B Exports $102.59B Exports -23.9% y/y Imports -17.2% y/y This is notably better than expected and last month’s data but the overall volume of trade is still severely restrained, particularly in autos where exports are down 38% and imports down 42% from year-ago levels.