|Day's Range||1.7630 - 1.8650|
As the coronavirus pandemic undermines the production of cleaner renewable fuels, the UK's biggest electricity plant is close to using only biomass following a bumpy transition away from coal. Situated in Yorkshire, northern England, the Drax Group power plant will complete its switch next year after embarking on a journey almost a decade ago to use organic matter alongside the fossil fuel to slash carbon emissions.
Absent any discovery thus far, there has been little talk as to what to do with Lebanon’s offshore hydrocarbons, once found and deemed commercially viable
U.S. oil futures reverse course to finish higher, getting a boost as traders eye developments tied to tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines.
The direction of the June E-mini Dow futures contract into the close on Friday is likely to be determined by trader reaction to 25144 and 24935.
The direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the main 50% level at 1.1066.
Silver markets initially pulled back during the week but then turned around to show signs of strength again in order to break above the $18 level.
Natural gas initially tried to reach above the $2.00 level but then rolled over about $0.25 by the time we got done.
Gold markets initially fell during the week, but then turned around to form a bit of a hammer.
Silver markets rallied significantly during the trading session on Friday, as we continue to see a lot of noise in general.
Gold markets have shot higher during the trading session on Friday, breaking above the top of the shooting star from the previous session.
The British pound has rallied a bit during the week, breaking above the ¥132 level. The market is likely to see noise above, perhaps extending to the ¥135 level.
The Euro exploded to the upside during the week, breaking above the 1.11 level. However, we are reaching some significant resistance just above.
The Australian dollar has rallied a bit during the week, reaching towards the 50 week EMA, which of course is one indicator reliable over the last years.
The gold futures contract gained 0.09% on Thursday, as it extended its consolidation following bouncing off $1,700 support level on Wednesday. Gold has been trading within a downward correction after reaching new monthly high of $1,775.80 on Monday almost two weeks ago. Gold is 0.6% higher today, as it gets back to yesterday’s high.
The US dollar fell a bit during the trading session on Friday, reaching towards the ¥107 level, an area that has been supportive as of late.
The British pound has rallied a bit during the trading session against the Japanese yen after initially falling hard.
At this point, the market looks as if it is ready to go back into the previous gap, where there should be plenty of buyers.
My name is Oystein Kalleklev, and I'm the CEO of Flex LNG management. Together with our CFO, Harald Gurvin, I will guide you through today's presentation. Flex LNG is a shipping company focused on the growing market for seaborne transportation of liquefied natural gas, LNG, and we are listed both at Oslo and New York Stock Exchange under the ticker FLNG.
Oil futures reverse higher Thursday, gaining ground despite an unexpected rise in U.S. crude inventories, with investors focusing on a drop in gasoline stocks and a further decline in the number of barrels at the New York Mercantile Exchange’s delivery hub in Cushing, Oklahoma.
Inventories rise by 109 B cf
We’re going to be watching trader reaction and order flow at $1728.70 into the close. This should tell us if the selling is getting stronger.
There’s a brand-new $30 trillion investment trend that has investors across the globe giving on up old way of doing things, and focusing more on sustainable investments
Look for the upside bias to continue as long as the June E-mini Dow Jones Industrial Average remains above 25144.