Archives of “March 29, 2019” day

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Baker Hughes oil rig count 816 vs 824 last week

  
  Analysis

The weekly Baker Hughes rig count

  • Total rig count 1006 vs 1016 last week
  • Oil rig count 816 vs 824 last week
  • Gas rig count 190 vs 192 last week.
The price of crude is trading at $60.10 up $0.79 or 1.32%. The high reached $60.73. The low extended to $59.41

It is the 4th down week in a row for oil rigs.  The high water mark for oil rigs reached 888 in November 2018. Today’s number is the lowest since April 2018.

Oil rig count is down to the lowest level since

European shares end the session higher

  
Analysis, Global Indices

Shares see gains in the 1st quarter

The European shares are ending the session and week higher.
  • German DAX, +0.76%
  • France’s CAC, +0.87%
  • UK’s FTSE, +0.71%
  • Spain’s Ibex, +0.77%
  • Italy’s FTSE MIB, +0.97%
The quarterly change are also looking good:
  • German DAX ends March flat but up 9.2% in Q1.  That is the best since Q4 2016
  • France’s CAC rose 13.0% in Q1. Best since Q1 2015
  • UK’s FTSE ends Q1 up 8.3%
  • Spain’s Ibex, +8.1% in Q1. That reverses a 18.4% tumble in the past 7 quarters
  • Italy’s FTSE MIB is ending up near 16%
In the benchmark 10 year note sector today, yields are ending the session mixed/little changed. The German, Portugal and Italian yields are lower. The UK, France and Spain yields are higher.
Shares see gains in the 1st quarter

US and China said to be poring over details of text to end trade war

  
  Analysis

Bloomberg reports

Says that negotiators from both sides are working line-by-line through the text of an agreement that can be put before Trump and Xi to defuse the current trade war. It is said that meetings in Beijing yesterday and today were partly to ensure that there were no discrepancies in the English and Chinese versions of the text.

The developments here should be an added positive for risk sentiment and will continue to keep the aussie and kiwi underpinned as we begin the session.

Nikkei 225 closes higher by 0.82% at 21,205.81

  
Analysis, Global Indices

Tokyo’s main index climbs on calmer risk tone in markets

Asian equities are generally performing better on the day after a more composed session seen in Wall Street overnight. Bond yields are generally holding steady today as well and that is helping to see risk assets more stable ahead of European trading.

USD/JPY is holding a tad higher at 110.70 currently, off highs posted earlier around 110.93. Despite the slightly more optimistic risk tone and US-China continuing trade talks, there’s still a hint of caution in markets right now so just be wary that things could easily flip on its head in the coming sessions.
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