Morning Note Sept 01, 2016

FX:SPX500   S&P 500 Index
62 0 3
US Futures Up, Dollar Flat, & Oil             Down

Over in the US, the main story has been the recent decline in crude following a bearish EIA             report prior session. The report indicated a +2.276m build in stockpiles with a modest gasoline and build in distillates. Price action of both API and EIA             reports coupled with unfavorable supply comments from OPEC has sent WTI spiraling in recent sessions from the 48 handle to now probing in the 44 level. DOE Inventory plus crude product inventory soars above 1.4 Billion barrels for the first time ever. This is 40% above the 25-year normal average. Insiders at Shell and ConocoPhillips             management teams now stress a 2017 rebalance. The truth emerges that the EIA             lied about “overestimated” crude and gasoline demand in the 1h16 by 16%. On watch is China’s SPR             with reports of full or near capacity. JPM             estimates that China’s SPR             demand was near 1mm bpd. This could spell a global demand decline in the near term that would be detrimental to crude’s price. Forex concerns still remain as dollar strengthens and CAD/USD continues it’s tumble.

Read more:
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out