Later Monday, the European Commission will officially start consultation and discussion on whether and how to reform the Eurozone’s fiscal rules.Over the past 20 years the Stability and Growth Pact (SGP) has been one of the most contentious pillars of the monetary union. Despite all current shortages in the global …
Read More »Oil prices erased earlier gains over global demand
Crude oil prices erased earlier gains, Monday, as the global energy crisis won’t require added crude demand for the rest of October due to warmer weather.The Commodity Weather Group anticipates that the US will have warmer than normal weather for the remaining days of October.Oil prices have been skyrocketing on …
Read More »U. S. builder confidence challenges supply chain disruptions
Strong consumer demand has helped thrust builder confidence higher in October despite growing affordability challenges imposed by surging material prices and shortages.Builder sentiment in the market for newly built single-family homes moved four points higher to 80 in October, according to the NAHB/Wells Fargo Housing Market Index (HMI) released on …
Read More »EUR/JPY remains firm against 132.75
Euro has ticked up, Monday, against the Japanese yen, for the eighth successive trading session, although it has failed to advance beyond the four-month high at 132.75 hit last Friday. The pair, however, maintains its positive bias intact, with bearish attempts contained above 132.15.The euro remains strong against an ailing …
Read More »Gold Catches Its Breath
Gold fell on Monday morning in Asia, recouping some losses after heavy selling during the previous session as US bond yields tumbled. Gold futures were down 0.03% at $1,767.75, to offset losses after dropping 1.6% on Friday. The benchmark 10-year US Treasury yields also eased after rising to 1.5904% on …
Read More »Will Eurozone encounter a real estate bubble?
The head of the ECB banking supervision, Andrea Enria said there has been “an increase in vulnerabilities” in some countries’ residential real estate and an increase in cheap loans, have overheated the real estate market in many places, leading to an increased risk of a bubble.The European Central Bank has …
Read More »U.S. oil drilling rig count up for 6 weeks
Baker Hughes data on Friday reported that the number of active U.S. rigs drilling for oil climbed by 12 to 445 this week. This data followed increases throughout the last five weeks.Active U.S. rig count, including natural gas ones, climbed by 10 to stand at a total of 543 according …
Read More »Anticipated deficit pushes oil prices higher
Oil prices settled at a three-year high above $85 a barrel on Friday, boosted by anticipated supply deficit in the next few winter months as the easing of coronavirus-related travel restrictions leads demand surge.Brent crude futures settled up 86 cents, or 1%, at$84.86 a barrel. Front-month prices, which touched their …
Read More »Tether fined $41 million on Stablecoin
The Commodity Futures Trading Commission ordered Tether, Friday, to pay a $41 million fine for “making misleading statements and omissions of material fact in connection with the U.S. dollar tether token (USDT) stablecoin.”This case highlights the expectation of honesty and transparency in the rapidly growing and developing digital assets marketplace.Stablecoins …
Read More »U. S. Shares close higher, S&P 500 Best since July
U. S. Shares closed higher again on Wall Street Friday, giving the S&P 500 its best week since July. The benchmark index added 0.7% and ended the week up 1.8%. Encouraging reports on the economy and corporate earnings helped the market keep steady following unstable weeks.J.B. Hunt Transport Services, Goldman …
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