Gold represents just 10% of central bank reserves.
Archives of “April 2020” month
rssWhy OPEC+ will cut even without US participation
You don’t need $20 oil to kill shale
There’s a narrative emerging around OPEC+ and shale: The mainstream thinking is that Russia and Saudi Arabia want to drive crude prices lower to kill US frackers.
I don’t think it’s correct, or at least not wholly correct.
The reality is that shale didn’t make any money in 2019 at $55 oil. Even at that price, it was on its way to mass insolvencies, albeit at a slower pace. I’ve been writing about the bust in shale for more than a year.
All this talk that OPEC+ wont’ cut without the US is a bluff. Why? Because shale is still going bust at $30-$40 oil.
Bank of Israel cuts rates to 0.10% from 0.25%
Israel cuts rates again
The central bank announced that it will use its repo operation for corporate bonds.
Meanwhile the Fed lowered its leverage ratio to 8% from 9% from community banks, saying it will stay that low until 2022.
Tokyo said to report about 50 new coronavirus cases
Kyodo News reports
The rough figure is said to be about 50 new cases reported, which comes after the daily record posted yesterday of 143 new cases. The total tally currently stands at 1,033 cases in the Japanese capital.
Update: It looks like this could very well be the partial-day count, as NHK is reporting that there are about 100 new coronavirus cases in the capital.
How do you feel after placing a trade? More or less confident?
Crucial Update :Palladium ,Gold ,Silver ,Platinum ,WTI ,BRENT -Anirudh Sethi
To read more enter password and Unlock more engaging content
Crucial Update :US Dollar Index ,USDJPY ,EURUSD ,USDINR ,AUDUSD ,GBPUSD,Chinese Yuan ,Bitcoin -Anirudh Sethi
To read more enter password and Unlock more engaging content
Strong dollar erodes U.S. competitiveness in farm trade. Weaker currencies makes the cost of food imports in local currency more expensive..
Use of financial keywords in newspapers from 1853 – 2016.
Google trends meets financial history.So many takeaways in one image.Use of ‘Railroads’ is interesting, as well as ‘Trouble’ (oh boy, 2008)
Trump says if oil price stays the way it is he would do very substantial tariffs
Oil remarks from US President Trump.
The oil price has plunged at the opening to this week’s trade after weekend news and comments. Trump’s latest in that headline cutting a few cents out of it again.
- if oil price stays the way it is he would do very substantial tariffs
- does not think he will need to use tariffs in oil fight
(On that second remark, note that Trump has said a few times from late last week that expects Russia and Saudi to cut production, he’s mentioned by 10m barrels a day, perhaps 15m. Noter also though that the OPEC+ meeting scheduled for today has been put off to April 9. )