The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended November 6. Crude oil inventory gained +4.28 mmb (consensus: -0.91 mmb) to 488.71 mmb. Stockpile increased in 2 out of 5 PADDs. However, PADD3 (Gulf
First-time claims for unemployment insurance continued their decline last week, hitting another pandemic-era low in a sign that the labor market is gradually improving. The Labor Department reported Thursday that jobless claims hit 709,000 for the week ended Nov. 7, down from 757,000 the week before. Economists surveyed by Dow Jones had been looking for
John Riccitiello Gus Ruelas | Reuters Video game software developer Unity Software‘s stock fell as much as 6% in after-hours trading on Thursday as the company posted widening net losses in its third-quarter earnings. Here’s what they reported: Loss per share: 97 cents Revenue: $200.8 million Net loss: $144.7 million CNBC does not compare reported earnings
EUR/GBP rebound from 0.8860, rejected at 0.9000. The pound appreciates after UK’s top adviser Cummings announces his exit. Euro’s recovery from week-lows at 0.8860 has been rejected at 0.9000 and the pair pulled back to 0.8960 area on Friday, on track to close the week with a 0.7% loss. The sterling appreciates as Brexit deal
Tests the high at 1.3170 level The USDCAD has completed the down and up lap in trading today. The Asian session high reached just short of 1.3170. The rotation lower stalled near a swing area betweein 1.3108 to 1.3115 and bounced back higher. The high just reached 1.3172 completing the lap (with a few pips
Daily cases approach 200,000 There are various different tallies on the virus but the CDC today puts it at 194,610 from 143,408 yesterday. Generally, the weekly case tend to peak Thurs-Sat with a lull on Monday. Last Friday, US cases were 127K and two weeks ago they were at 78K. Another two weeks at this
Data shows that institutions heavily accumulated Bitcoin in the $12,000 to $15,000 range and according to analysts at Whalemap, this is a positive trend because institutions and whales typically accumulate assets with a longer-term investment strategy in mind. The fact that larger hands are accumulating BTC instead of retail investors also explains the somewhat suppressed
The second day of pre-Diwali Dhanteras witnessed a tepid response from shoppers on Friday as gold and silver sales have likely to be fallen by up to 35 per cent year-on-year due to high prices and COVID-19 induced financial distress, although consumers moved to online buying to make most of the festival, jewellers said. The
Yen appears to be trying to reverse the losses posted earlier this week, as helped by pull back in treasury yields. US 10-year yield is trading at around 0.88 a the time of writing, well below this week’s high at 0.975. German 10-year yield is also back pressing -0.55 handle. Still, Yen remains the second
Federal Reserve Chairman Jerome Powell said Thursday he worries about women, children and business owners who face long-term consequences from the coronavirus pandemic. Asked to name his chief concerns as the world tries to recover from the Covid-19 crisis, Powell said it’s “the risk that there is some longer-run damage to the productive capacity of
CEO of Cisco Chuck Robbins speaks during the VivaTech (Viva Technology) trade fair in Paris on May 24, 2018. Gerard Julien | AFP | Getty Images Cisco shares moved as much as 9% higher in extended trading on Thursday after the company reported fiscal first-quarter earnings and an upbeat forecast that exceeded analysts’ expectations. Here’s
USD/JPY accelerates its reversal beloew 105.00 to reach 104.55 area. Theyen appreciates on coronavirus concerns. The dollar remains bullish while above 104.40 – UOB. The USD/JPY has accelerated its downtrend from week highs at 105.65 after breaking below 105.00 on Friday and is attempting to stay above the 104.55/60 area. The greenback is trimming gains after Monday’s
Forex – Price Action Trading Tutorial In this video, master trader Joe Giunta will walk you through some basic price action trading principles, and help you understand how to read market structure. “Looking Left” is the key to getting a firm grasp on market structure. You will learn to do that in this video. MENTORSHIP
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This is re coronavirus developments in the Australian state of Victora (Australia’s second-most populous). The state has now gone 14 days of zero new cases And 14 days of deaths from COVID-19 . Breathless media reports now that with 14 days of zero cases the 14-day average has also fallen to zero. Um, yep. For
Latest data released by the National Statistics Institute – 13 November 2020 CPI +0.5% vs +0.5% m/m prelim HICP -0.9% vs -1.0% y/y prelim HICP +0.3% vs +0.3% m/m prelim The preliminary report can be found here. Little change to the preliminary report as this just reaffirms softer inflation pressures in the Spanish economy, similar
By Nitin KabadiTraditionally, festivals and weddings have been the major drivers for gold purchases, especially in the jewellery form. Around 20% of annual gold sales happen during Diwali. According to the World Gold Council, India is estimated to have accumulated up to 25,000 tonnes of gold thus far. In financial year 2019, the value of