|Day's Range||2.2840 - 2.3010|
The stock markets overall initially dipped to start the session on Wednesday, but then started to find buyers yet again. The S&P; 500 was of course the same, and now the E-mini S&P; 500 contract finds itself trying to break through the 3000 handle.
Silver markets have fallen again during the trading session on Wednesday, as we are below the 50 day EMA. That is obviously an area that should attract some attention, but more importantly I’m paying attention to the possibility of a descending triangle.
The British pound continues to chop around against the Japanese yen as headlines continue to spoof the market. Just in the last few hours, the market has seen “EU sources” indicating that major hurdles have been moved out of the way, only to have those refuted by officials. In other words, Twitter continues to push the Forex world around.
The outlook for oil markets is looking increasingly bearish and, if current trends continue through to the end of the year, OPEC+ may be left with no choice but to cut production
Based on the early price action, the direction of the December E-mini S&P; 500 Index the rest of the session on Wednesday is likely to be determined by trader reaction to a Gann angle cluster at 2999.00 to 3002.75.
The trend will change to up on a trade through $2.568, making this today’s upside target. Should a move through this level generate enough upside momentum, then with help from the “chilly” forecast, we could see an eventual surge into a 50% retracement level target at $2.636.
Papua New Guinea's ex-prime minister Peter O'Neill won a temporary reprieve in a corruption case Wednesday when a court agreed to a brief suspension of his arrest warrant. Acting police commissioner David Manning announced Tuesday that a warrant for O'Neill relating to graft allegations had been issued by a district court, but he refused to give details due to the "sensitivity" of the investigation. O'Neill has denied the charges, calling them politically motivated, and refused to cooperate with police -- claiming a lack of legal process, including not being officially presented with the warrant.
Most Asian stocks are following their US counterparts higher, after strong earnings reports out of US banks gave equities another reason to climb higher, after the risk-on momentum from the US-China trade truce faded.
In the run-up to the Maharashtra legislative assembly elections on Oct. 21, 2019, the state’s chief minister Devendra Fadnavis, has announced several projects to woo voters. In Mumbai, which is perennially land-starved, the salt pans are few of the remaining land parcels on which no development has happened so far.
ConocoPhillips (COP) entered into an agreement to sell some of its portfolio in Australia for $1.39 billion. Meanwhile, downstream major Phillips 66 (PSX) launched a $3 billion new buyback program.
The unreasonable barriers to pipeline expansion to carry liquefied natural gas (LNG) could be mitigated immediately by allowing foreign-flag tankers to transport LNG in domestic trade.
The British pound rallied a bit during the trading session on Tuesday, as we continue to see a lot of noise in the market. All things being equal, this is a market that should continue to be very noisy as the headlines will be fast and furious.
The British pound has been consolidating against the Japanese yen during the trading session on Tuesday, as we initially tried to break above the 200 day EMA but rolled over to show signs of weakness again. Ultimately, major decisions need to be made.
The Euro rolled over again during the trading session on Tuesday, showing signs of weakness as the long term trend continues to assert itself, the Euro looks destined to test the lows again.
India has ample growth and investment opportunity in the natural gas space. To augment the development, the government of India is going to invest $60B in natural gas infrastructure.
The European Investment Bank has postponed taking a decision on whether to stop financing fossil fuel projects to November, an official said on Tuesday, as the multilateral lender works out whether to keep financing gas projects for a period. The bank's president, Werner Hoyer, is pushing for the bank to take the lead in financing sustainable projects, and proposed in July to stop its fossil fuel lending by the end of 2020. "On the basis of what we discussed this morning I am increasingly confident that we will achieve final approval in November," said Andrew McDowell, an EIB vice-president, told Reuters in an interview during the meeting.
The shift in the weather pattern has been just enough so far to chase out a few of the weaker shorts. The stronger short-sellers want to see stronger evidence of a prolonged cold spell.
LONDON/SINGAPORE (Reuters) - Gail (India) has issued a swap tender offering two cargoes of liquefied natural gas (LNG) for loading in the United States and seeking one for delivery to India, two industry sources said on Tuesday. The offer is for two cargoes loading from the Cove Point plant on Nov. 10-12 and Dec. 16-18. The sought cargo is for delivery to either the Dahej or Dabhol terminal in India on Nov. 20-23.
Global energy giant Exxon Mobil Corp will offer its expertise and technology to India's biggest state-owned explorer Oil and Natural Gas Corp Ltd to help develop its resources in offshore blocks, according to two sources directly privy to the development. The memorandum of understanding (MoU), signed late Monday, will be later signed as a definitive deal after Exxon studies the blocks of the company, one of the sources told Reuters. Lately, India is generating a lot of interest worldwide in its oil and gas operations, as growing demand amid a global slowdown and government policies have made investments and returns attractive.