|Day's Range||1,293.00 - 1,305.40|
Investing.com - U.S. crude oil inventories fell more than expected last week, putting an end to two-consecutive weeks of surprise builds, according to official data released on Wednesday.
The futures market can turn a nickel into a fortune, a fortune into massive debt and (as an added bonus) has quite efficiently exposed pretty much every psychic out there as a fraud. To understand the futures market, we first need to understand the concept of a "futures contract." This is an investment product built around buying and selling commodities at a later date. Literally, a futures contract is an agreement to buy or sell some commodity (usually) on a given date for a given price.
Based on the early price action and the current price at 98.175, the direction of the September U.S. Dollar Index futures contract is likely to be determined by trader reaction to the Fibonacci level at 98.045.
The S&P500; fell Tuesday, down 0.8%, and U.S. 10-year Treasury yields fell 5bps to 1.55%. The market seems to have paid little attention to the U.S. president indicating he would explore” various tax reductions” to help stimulate growth, for example. Instead, investors succumbed to apprehension in rates and trade talks.
Based on the price action the past two sessions and today’s current price at $56.31, the direction of the October WTI crude oil futures contract on Wednesday is likely to be determined by trader reaction to the main 50% level at $55.72.
These rising super apps, focused on entertainment, shopping, and healthcare, target users who feel overlooked by China's biggest tech platforms.
Monero’s XRM follows on from Tuesday’s slide with a bearish start to the day. Pressure comes from the broader markets as the bears fight back.
Canada's main stock index dropped after two straight sessions of gains on Tuesday, as energy shares mirrored a drop in oil prices on persisting concerns over demand. * At 9:53 a.m. ET (1353 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was down 72.03 points, or 0.44%, at 16,232.02. * Oil prices reversed earlier gains in session to trade lower as worries over demand lingered, however hopes that major economies will take stimulus measures to stave off a potential recession kept a check on losses.
(Bloomberg) -- Swiss gold exports to the U.K. rose to the highest in six years, driven by a surge in demand for exchange-traded funds.Switzerland shipped 90.7 tons of bullion to the U.K. in July, the most since September 2012, according to data on the website of Swiss Federal Customs Administration. That compares with just 7.4 tons in June.Gold is heading to London because the city is a global center for precious metal storage and boasts a vast network of vaults within the M25 motorway that surrounds the metropolitan area. Rising gold prices are driving demand for investment products and the bullion that underlies those funds.“The vast majority of ETFs have their vaults in London,” said Adrian Ash, research director at BullionVault Ltd.Gold prices have surged to a six-year high, surpassing $1,500 an ounce, because of worries about weakening global economic growth and the fallout from the U.S.-China trade war. Holdings in bullion-backed ETFs now stand at the highest since March 2013.To contact the reporter on this story: Rupert Rowling in London at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, Dylan GriffithsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gold is reclaiming the 1,500 level as the metal is moving 0.60% positive at 1,504. However, technical studies are suggesting that the downside is alive and healthy. Watch out the MACD indicator that is about to cross lines in the daily chart.