Silver Price Hits Year-to-Date High

Silver Price Hits Year-to-Date High

Byadmin

As shown on the XAG/USD chart, silver prices rose on Monday, surpassing the previous high of the year, which was set on 28th March at around $33.50 per ounce. Why Is Silver Rising? A bullish driver came from statements made by the White House. According to media reports: → US President Donald Trump announced on […]

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EUR/CHF Daily Outlook

EUR/CHF Daily Outlook

Byadmin

Daily Pivots: (S1) 0.9333; (P) 0.9343; (R1) 0.9361; More…. Sideway trading continues in EUR/CHF and intraday bias remains neutral. Rise from 0.9218 might continue, either as a correction to fall from 0.9660, or the third leg of the pattern from 0.9204. On the upside, above 0.9419 will target 0.9445 resistance and above. Nevertheless, on the […]

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Oil: private survey of inventory shows a larger headline crude oil draw than expected

Byadmin

Very slow to come out today this data point. Twitter has it now.

Via twitter:

—

Expectations I had seen centred on:

  • Headline crude -1 mn barrels
  • Distillates +1 mn bbls
  • Gasoline +0.6 mn

This data point is from a privately-conducted survey by the American Petroleum Institute (API).

  • It’s a survey of oil storage facilities and companies
  • The official report is due Wednesday morning US time.

The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)

  • Its based on data from the Department of Energy and other government agencies
  • Whereas information on total crude oil storage levels and variations from the previous week’s levels are both provided by the API report, the EIA report also provides statistics on inputs and outputs from refineries, as well as other significant indicators of the status of the oil market, and storage levels for various grades of crude oil, such as light, medium, and heavy.
  • the EIA report is held to be more accurate and comprehensive than the survey from the API

This article was written by Eamonn Sheridan at www.forexlive.com.

Trump and Xi to talk on Friday? That’s the latest chatter.

Byadmin

The latest scuttlebutt is that Trump and Xi will talk on Friday – thats from unnamed sources.

Meanwhile, via Politico (a US politics site):

  • “The president is obsessed with having a call with Xi,” said one person familiar with the trade talks, convinced he can personally hash out deep-seated divisions between the world’s two largest economies mano a mano with Xi.

Yeah, that’s garbage. The way it’ll go is that Trump will talk with Xi when something has already been agreed to and then he’ll take credit.

That’s the way it works. Its not rocket science.

This article was written by Eamonn Sheridan at www.forexlive.com.