- S&P 500:3,246.59+9.6700+0.30%
- Oil Market Optimism to be Hit by Q2 Financials IOCs?
Bullish sentiment is still leading in the market, especially if media reports are being taken as the Oracle of Delphi. The last days crude oil futures have shown a bullish tendency, supported the last 24 hours by an unexpected draw in US crude stocks.
- Market Cycles : An Interview with Andrew Pancholi
Andrew Pancholi is one of the world’s leading experts on market cycles and the author of the highly acclaimed Market Timing Report. In addition, Andrew is a consultant for institutional investors, hedge funds and major banks. He is a board member for The Foundation For Study Of Cycles (FSC), which
- Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce
Commodities trading was mixed during the final week of May. A month that turned out to be the come-back month for many markets following the Covid-19 related collapse seen during Q1.
- US Open – Waking From a Stimulus Induced Dream – Oil, Gold and BTC in Focus
Europe is playing a little catchup in early trade on Thursday while the US is heading for a flat open as investors prepare for choppy waters ahead.
- WTI Crude Spikes into Close Following Bullish Bloomberg Report on OPEC Production Cut Expectations
U.S. crude oil stockpiles spiked higher while fuel demand slumped last week, each by their most ever, government data showed on Wednesday, as the U.S. oil industry felt the full brunt of efforts to stem the spread of the coronavirus pandemic.
- Energy Recap: OPEC Leaves Traders Guessing, Setting Up Volatile Move on Friday
Reuters reported that oil producers led by Saudi Arabia and Russia reached a deal in principle on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March.
- Palladium: Completely Reverse The Rumors for a Bubble Burst
During the first quarter of 2019, spot palladium was seen tumbling by more than 17% from record highs at $1,609.85, with the main catalyst of this drift possibly being the closing of positions as the end of the month and the end of the quarter (i.e. end of the contract) came.
- Crude Called $5 to $10 Higher After Drones Attack Saudi Crude Facilities
Saudi Arabia has yet to comment on the extent of damage on its oil production but industry sources have said some 5-6 million barrels per day (bpd) or 5-6% of global supply have been affected.
- Negative Week for Grain Prices Due to Weather and Optimism in Trade
On the week, soybean is ready to close its third negative week in the last four, wheat is fighting to close the period in a positive manner, while corn resumed its free-fall from 3.76 after last week’s recovery.
- Gold and Silver Recover After Lower Than Expected NFP
Gold reacted positively after the weak nonfarm payrolls data in the U.S. and it is recovering almost all its daily losses. Silver just exploded to the upside.
- Gold Down Amid Trade Optimism, Copper Recovers From a 2-year Low
Metals are mixed on the day, gold and silver are posting losses, but copper is extending its recovery from 2-year lows, while palladium and platinum are consolidating highs.
- Grains Mixed on Better Crop Conditions and Hopes for US Grains Demand
Technical indicators are signaling a bullish extension is gaining momentum in the daily chart. The positive sentiment is even more prominent in the 1-hour chart with oscillators and moving average pointing to the upside too.
- Gold Pared Gains at $1,550, Will It Explode? Expert Believes in $1,900
XAU/USD is currently trading at 1,540, 0.53% negative on the day. The hourly chart looks bearish in the short term, but some signals of recovery are appreciated in the technical indicators.
- Soybeans, Corn down; Wheat at 4-month lows
The trend in futures of wheat is clearly bearish with the unit extending declines steadily from the 4.77 area traded on August 29. Earlier in the day, the unit broke below the 4.62 area and after a small pullback, it extended loses to test the 4.56 level.
- Gold, Silver Up Amid Trade War, Brexit Concerns, Dollar Contains Gains
Gold is currently trading 0.25% positive on the day at 1,535. The unit is consolidating levels above the now critical 1,520 support. Technical conditions in the short term suggest a consolidation phase in the next hours. But the overall picture suggests additional gains.
- Grains to Close Week, Month With Losses, All About Trade War
Despite the conciliatory tone, the market is reluctant to believe in everything China and the United States said, as it seems they want to have a prolonged trade war. Farmers, then, are suffering the consequences.
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