OPEC is going to do what it’s going to do. And beyond cutting production, there’s nothing the cartel can do to push oil prices higher. Yet, the epic demand destruction to crude caused by the coronavirus might not be something that can be fixed as easily by the one-cut-fits-all approach […]
The Corn And Ethanol Report: March 04, 2020
Good Morning, We kickoff Chicago’s 183rd birthday with MBA Mortgage Applications and MBA 30-Year Mortgage Rate at 6:00 A.m., ADP Employment Change at 7:15 A.M., Markit Composite PMI Final and Markit Services PMI Final at 8:45 A.M., ISM Non-Manufacturing Index at 9:00 A.M., EIA Energy Stocks at 9:30 A.M., Fed […]
U.S. Services Gauge Hits One-Year High Before Virus Fallout
Economic Indicators6 hours ago (Mar 04, 2020 10:16AM ET) (Bloomberg) — America’s service industries in February enjoyed the fastest growth in a year as orders surged, showing momentum in the biggest part of the economy just as coronavirus concerns started to become more widespread. The Institute for Supply Management’s non-manufacturing […]
Bank of Canada Cuts Rates 50 Basis Points, Stands Ready for More
(C) Reuters. Bank of Canada Cuts Rates 50 Basis Points, Stands Ready for More (Bloomberg) — The Bank of Canada cut half a percentage point from its benchmark interest rate Wednesday, easing monetary policy for the first time in more than four years as it followed the Federal Reserve in […]
Energy Report: Fed Cut Can’t Cure Coronavirus Impact
It seemed that after the Fed shocked the market with a 50 basis point rate cut, there was panic on Wall Street. It appeared the market took the surprise cut as an act of desperation and a sign that perhaps things are a lot worse in the economy than what […]
Euro zone businesses stepped up pace in February but trouble brewing: PMI
Economic Indicators12 hours ago (Mar 04, 2020 04:16AM ET) LONDON (Reuters) – Euro zone businesses largely withstood the impact of the coronavirus in February, growing at their fastest pace in six months, though a survey on Wednesday painted a gloomier outlook, with falling export demand and disruptions to supply chains. […]
Crude Oil Mar. 4 Update
Crude Oil stuck in the “no action” zone. Key support is now resistance, another key support below has not been touched. Original Post Crude Oil Mar. 4 Update Disclaimer: All opinions expressed in this blog are solely for information or educational purposes. The blog material does not constitute investment or […]
Natural Gas Mar. 4 Update
Natural Gas: The hourly chart is looking bearish up to the Fibonacci resistance area 1.84-1.88. Original Post Natural Gas Mar. 4 Update Disclaimer: All opinions expressed in this blog are solely for information or educational purposes. The blog material does not constitute investment or trading advice. The blog material has […]
German retail sales rebound in January
Economic Indicators14 hours ago (Mar 04, 2020 02:31AM ET) (C) Reuters. German retail sales rebound in January BERLIN (Reuters) – German retail sales bounced back in January after plunging in the previous month, data showed on Wednesday, suggesting that private consumption helped prop up growth in Europe’s largest economy at […]
South African private sector activity slips again in February
Economic Indicators14 hours ago (Mar 04, 2020 02:26AM ET) (C) Reuters. South African private sector activity slips again in February JOHANNESBURG (Reuters) – South African private sector activity remained in contraction in February as businesses cut jobs due to weak demand and rising costs, and the coronavirus outbreak in China […]