United States EIA Crude Oil Stocks Change below forecasts (1.8M) in October 17: Actual (-0.961M)
United States EIA Crude Oil Stocks Change below forecasts (1.8M) in October 17: Actual (-0.961M)
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Airbnb CEO Chesky says ChatGPT isn’t ‘quite robust enough’ to integrate into travel app
Airbnb CEO Brian Chesky wants to integrate ChatGPT software into the travel platform, but the software isn’t “quite robust enough.” -
Weekly crude oil inventory data will be released at the bottom of the hour
The weekly EIA crude oil inventory data will be released at the bottom of the hour. The expectations are for:
- Crude oil a build of 1.205 million
- Distillates a drawdown of -1.933 million.
- Gasoline a drawdown of -0.809 million.
Late yesterday the private data showed:
- Crude oil a drawdown of -3.0M.
- Distillates a drawdown -1.0 million.
- Gasoline a drawdown -0.2 million
This article was written by Greg Michalowski at investinglive.com.
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Meta lays off 600 employees within AI unit
The cuts come as Meta has been pouring billions of dollars into AI -
Hundreds of public figures, including Apple co-founder Steve Wozniak and Virgin’s Richard Branson urge AI ‘superintelligence’ ban
A group of prominent figures, including artificial intelligence heavyweights, has lead a call to end efforts to create ‘superintelligence.’ -
Pound Sterling Price News and Forecast: GBP slumps as UK inflation growth cools down
The Pound Sterling (GBP) faces intense selling pressure against its major peers on Wednesday after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for September. -
Sunset Market Commentary
Markets UK gilts rally, outperforming their US and European peers dramatically in the process. British yields drop between 8.1 and 8.9 bps after sub-consensus inflation numbers. September headline CPI flatlined on a monthly basis and caused the annual print to match August’s 3.8%. The Bank of England for the last couple of months had been […]
The post Sunset Market Commentary appeared first on Action Forex.
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Sunset Market Commentary
Markets UK gilts rally, outperforming their US and European peers dramatically in the process. British yields drop between 8.1 and 8.9 bps after sub-consensus inflation numbers. September headline CPI flatlined on a monthly basis and caused the annual print to match August’s 3.8%. The Bank of England for the last couple of months had been […]
The post Sunset Market Commentary appeared first on Action Forex.
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US Energy Sec Wright: The SPR will be gradually filled up. Says it is a great time to buy
Energy Sec. Wright is on the news wires saying that the US Strategic Petroleum Reserve (SPR) will be gradually filled up. He also added that:
- Oil prices are low and a great time to buy
The US yesterday said that they would be going 1 million barrels for SPR for delivery in December and January.
Crude oil is trading up $1.48 at $58.73. The low price last week reached $55.96. That was short of the 2025 the low price of $55.15.
Looking at the daily chart, there is a swing area between $59.78 and $60.10. Getting above that level will now target another swing area between $61.45 and $61.94
This article was written by Greg Michalowski at investinglive.com.
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EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.1580; (P) 1.1618; (R1) 1.1637; More… Intraday bias in EUR/USD remains neutral and further decline is expected. Break of 1.1540 will resume the fall from 1.197 to 1.1390 support, or even further to 38.2% retracement of 1.0176 to 1.1917 at 1.1252. On the upside, though, break of 1.1727 resistance will turn bias […]
The post EUR/USD Mid-Day Outlook appeared first on Action Forex.
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