I’ve been questioning the EIA estimates of US oil production all year long. If you listened to the companies in oilfield services, there are no rigs, no pipe and no workers. Meanwhile, companies are being hit by inflation and pressure to remain disciplined. The ability to tap DUCs is basically done. Since then, there has
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Copper prices edged up on Tuesday, supported by low inventories level, but China‘s determination to maintain a strict zero-COVID policy capped gains. The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) was up 0.3% at 65,780 yuan ($9,061.11) a tonne, as of 0755 GMT, while three-month copper on the London Metal Exchange (LME)
Markets continue to tread water today, having basically no reaction to economic data and comments from central bankers. For now, European majors are the slightly stronger ones, as led by Sterling. Commodity currencies are the weaker ones, with the Loonie being the softest. Dollar and Yen are mixed for now. But still, most pair and
US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Anxiety over the cost of living and the direction of the economy could prove costly to President Joe Biden and his fellow Democrats in Tuesday’s election. Recent surveys
In this article LYFT Follow your favorite stocksCREATE FREE ACCOUNT A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S., August 20, 2020. Mike Blake
USDMXN is bearish despite extreme oversold readings. The next target is seen at the 19.20/25 support area. Recovery above 19.50 to alleviate bearish pressure. The USDMXN is trading at 19.46, after matching the lowest intraday level since March 2020. Earlier on Tuesday, it rose to 19.50 but then turned to the downside amid a sharp
The major indices are all in the black with the Dow leading the way to the upside. That index is leading the way with a gain of 1.30% or 422 points. The S&P is up 0.87%. The Nasdaq is lagging but still higher by 0.77%. Looking at the Dow daily chart, the pair is back
If there is one thing you can count on, it is to be prepared for a long day/night in the US. Pollsters haven’t had a good track record in general when calling the outcome but they are still the best guide you can go with in approaching these things. But for a bit of context,
Gold prices were listless on Tuesday as investors held to the sidelines ahead of key U.S. inflation figures, which are likely to influence the Federal Reserve’s rate-hike narrative. FUNDAMENTALS * Spot gold was flat at $1,675.29 per ounce, as of 0034 GMT. Bullion prices hit a three-week peak in the previous session, buoyed by a
In this article DKNG Follow your favorite stocksCREATE FREE ACCOUNT Omar Marques | LightRocket | Getty Images Shares of DraftKings closed down 28% on Friday after the sports betting company reported slower monthly customer growth in the third quarter that fell short of estimates. The company raised its revenue guidance for the year, however, after
Bloomberg reported on Tuesday, Japanese Prime Minister Fumio Kishida is set to approve USD198 billion in the additional budget for the economic stimulus plan. Meanwhile, Reuters reported, having seen a draft of the spending plan, Japan is set to spend 1.4 trillion Japanese Yen (JPY) ($9.55 billion) in additional fiscal loans in a second extra
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The United States will go to the voting booths on Nov. 8 to decide the fate of all 435 members of the House of Representatives and 34 out of the 100 Senate seats. The outcome will decide the prevailing power balance in Washington and has the potential to affect the crypto industry. Perhaps that’s why
The EURUSD is taking a step to the upside after breaking above the swing area between 0.99936 and 1.00005. The London morning session high reached 1.0006. The New York morning high reached 1.0054. After a modest decline off of the New York morning high, the price has come back in traded to a new session
It’s a bad idea to trust polls or prediction markets after what we’ve seen for the past decade but there’s still nothing better. Nate Silver gives the Democrats a 16% chance of holding the House but betting markets put it lower than that with Predictit at 10%. The only real drama is whether the Dems
Gold price in the national capital gained Rs 81 to Rs 51,201 per 10 grams on Monday, according to Securities. In the previous trade, the precious metal had settled at Rs 51,120 per 10 grams. Silver, however, dropped Rs 244 to Rs 60,596 per kilogram. In the international market, gold was trading flat at USD
European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer ones overall. Dollar and Yen are