oilmarket
The markets were confused after, a.o., speculations about who is responsible for launching missiles that fell near the Polish-Ukrainian border. What about oil? MacroeconomicsOn the macroeconomic view, the greenback explored the lower floor as the DXY fell just below $106 on Nov. 15 – thereby dropping well below (outside) its yearly regression channel with a Pearson’s R (correlation coefficient) near 96 %. Q3 2022 hedge fund letters, conferences and more U.S. Dollar Currency Index (DXY), daily chart Fundamental AnalysisOil prices fell on Thursday (Nov. 17), with the prospect of a slowing global...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. The stock market is kind of treading water waiting for Friday’s payroll report. It will probably be up nicely because ADP announced on Wednesday that 208,000 private payroll jobs were created in September. Trade, transportation and utilities accounted for the 147,000 of these private jobs. Good producing industries lost 29,000 private jobs, while natural resources/mining (mostly energy production) lost 16,000 jobs. According to ADP, average pay rose 7.8% in the past 12 months. Q2 2022 hedge fund lett...
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Brent Crude oil down to $100 per barrel ahead of OPEC+ meetingUK’s major supermarkets failing to reduce petrol prices in line with falling wholesale costsBA extends suspension of short haul flights from HeathrowJitters In The Oil MarketsThere are jitters flowing through the oil market today, ahead of an OPEC+ meeting which is expected to bear little fruit when it comes to changing current output mandates. This feeds into anxieties about constrained supply which consumers and wholesalers are very well-versed in at this point. The interesting flipside is that anxieties about a petering of demand...
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