October 2020 - Page 31 of 46 - Financial Occultist

Canada: Further relaxation around PGW rules for studying online

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Global Indices : Nikkei ,Shanghai Composite ,FTSE 100 ,CAC ,DAX ,Emerging Markets ,Bovesapa ,Argentina -Anirudh Sethi

11-Oct-20 06:21 pm

Anirudh Sethi

What are the GLOBAL INDICES to see before taking a trade [HINDI]? - YouTube

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Crucial Update :WTI ,BRENT ,Natural Gas -Anirudh Sethi

11-Oct-20 06:16 pm

Anirudh Sethi

#OIL - #Eni downloads shares to Rosnet while oil flies on global deal ENI SELLS 30% STAKE IN EGYPT'S ZOHR GAS FIELD TO ROSNEFT Italian oil and gas group Eni agreed to sell a 30 percent stake in Egypt's offshore Shorouk concession to Russia's Rosneft for $1.125 billion cutting its stake in the Zohr giant gas field to 60 percent. Eni said Rosneft would reimburse pro-rata investments already carried out by the Italian group totalling around $450 million at present. Rosneft has also an option to buy a further 5 percent stake at the same conditions. Eni discovered the Zohr field - the Mediterranean's biggest ever gas field - in the Shorouk concession in August 2015. OIL PRICES SOAR ON GLOBAL PRODUCERS DEAL Oil prices shot to their highest levels since mid-2015 on Monday after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up markets. Brent crude the international benchmark for oil prices soared to $57.89 per barrel in overnight trading between Sunday and Monday the highest level since July 2015. U.S. West Texas Intermediate (WTI) crude also hit a July 2015 high of $54.51 a barrel. Brent and WTI eased to $56.83 and $54.07 respectively by 0629 GMT but were both still up over 4 percent from their last settlements. With the deal signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC Russia to participate focus is switching to compliance of the agreement. "We believe that the obser vation of the OPEC-11 and non-OPEC 11 production cuts is required to sustainably support... oil prices to our 1H17 WTI price forecast of $55 a barrel" Goldman Sachs said. "This forecast reflects an effective 1.0 million barrels per day (bpd) cut vs. the 1.6 million bpd announced cut and greater compliance to the announced cuts is therefore an upside risk to our forecasts." AB Bernstein said the agreed deal "amounts to an aggregate supply cut of 1.76 million barrels per day (bpd) from 24 countries which currently produce 52.6 million bpd or 54 percent of world oil supply." Bernstein said that "some of the non-OPEC supply cuts will come from natural decline but most will come from self-imposed cuts." Saudi Aramco has told U.S. and European customers it will reduce oil deliveries from January. "The kingdom is targeting excess inventories the lion's share of which sit in the United States" said Virendra Chauhan oil analyst at Energy Aspects in Singapore. "Lower Saudi exports to the U.S. could also make the export arbitrage uneconomic." OPEC plans to slash output by 1.2 million bpd from Jan. 1 with top exporter Saudi Arabia cutting around 486000 bpd in a bid to end overproduction that has dogged markets for two years. On Saturday producers from outside OPEC agreed to reduce output by 558000 bpd short of the target of 600000 bpd but still the largest contribution by non-OPEC ever. "Non-OPEC participation should add to bullish sentiment" Morgan Stanley said. From outside OPEC Russia said it would gradually cut 300000 bpd. "Once cuts are implemented at the start of 2017 oil markets will shift from surplus into deficit. Given the cuts in production announced by OPEC we expect that markets will move into a 0.8 million bpd deficit in 1H17" AB Bernstein said. Still some analysts expect producers drawn by higher oil prices to increase output again. "While better compliance than we expect would initially lead to higher prices with full compliance worth an additional $6 per barrel to our price forecast we expect that a greater producer response especially in the U.S. would eventually bring prices back to $55" Goldman Sachs said.

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An Update : FAANG ,TESLA ,MSFT ,VISA ,WMT ,AMD -Anirudh Sethi

11-Oct-20 06:13 pm

Analysis

Anirudh Sethi

What are “FAANG” and "Big N" companies all about?

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Crucial UPDATE : #DJIA #SPX500 #NasdaqComposite -#AnirudhSethi

11-Oct-20 05:59 pm

Anirudh Sethi

NASDAQ vs Dow Jones vs S&P 500 [UNDERSTANDING INDICES] - Dow Jones Chart

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An Update : GOLD ,SILVER ,Palladium ,Platinum ,Copper ,Nickel ,Zinc ,Lead :Anirudh Sethi

11-Oct-20 05:57 pm

Anirudh Sethi

It's Not Only Palladium That You Better Listen To

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Forex Update : US Dollar Index ,EURUSD ,USDGBP ,USDJPY ,USDINR ,YUAN -Anirudh Sethi

11-Oct-20 05:50 pm

Anirudh Sethi

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PBOC has lowered the reserve requirements on some forward yuan FX trading. Intervention on yuan strength?

11-Oct-20 08:54 am

Anirudh Sethi

The People’s Bank of China has cut the requirement to zero for some forward FX.

When a financial institution sells USD against yuan to clients some of these deals will be cut to a 0% reserve requirement, from 20% previously

Takes effect Monday

CNY hit a 17 month high on Friday. This policy move from the PBOC will, at the margin, impact to weaken the yuan (a small impact only). Thee is some concern the currency will continue to strengthen into the US election so the Bank move can be read as a (small) expression of concern at the level of the yuan.