News You Can Use for Thursday
#1) The one everyone is talking about ...
Oil Surges More Than $4 After Crude Pipeline From Canada to U.S. Explodes Oil surged more than $4 a barrel, the most in a month, after an explosion cut Canadian oil shipments through Enbridge Inc. pipelines that typically provide about 15 percent of U.S. crude imports.
XX The good news, if there is any, is that oil was only up $2.33 at 8:22 am. Pipeline disruptions are usually fixed in a matter of days, though I don't know the details on whatever fix will work for this explosion.
#2) Dollar Rises Against Euro, British Pound on U.S. Economic Growth Outlook The dollar rose against the euro and the pound as global stocks rallied and Goldman Sachs Group Inc. said the U.S. currency's decline is coming to an end.
XX The US dollar looks like it's trying to rally. Let's see if it can get through its 20-day moving average ...
#3) You might think a rising greenback would send gold lower, but that's not the case. Why? Probably because everyone is starting to price in another rate cut, which is inflationary ...
U.S. Treasuries Climb on U.S. Stock-Index Losses, Bets Fed Will Cut Rates Treasury notes rose as U.S. stock- index futures declined, boosting demand for the safest assets, and as traders bet the Federal Reserve will cut interest rates further to help the U.S. economy weather a housing slump.
Gold, Silver Advance in London on Outlook for Fed Rate Cut, Weaker Dollar Gold gained in London on speculation the U.S. Federal Reserve may lower interest rates, which would weaken the dollar and fuel demand for bullion. Silver rose.
XX In other words, the US dollar may be rising now, but traders expect it will be weakened by further rate cuts down the road.
#4) And how about those grains?
Wheat Price Gains to Eight-Week High on Drought Concern; Soybeans Advance Wheat futures in Chicago rose for a third day to the highest in almost eight weeks on speculation a lingering drought in the U.S. Southern Plains will damage crops about to go dormant for the winter. Soybeans also extended gains.
The stocks in my agriculture boom report are doing great!
Oil Surges More Than $4 After Crude Pipeline From Canada to U.S. Explodes Oil surged more than $4 a barrel, the most in a month, after an explosion cut Canadian oil shipments through Enbridge Inc. pipelines that typically provide about 15 percent of U.S. crude imports.
XX The good news, if there is any, is that oil was only up $2.33 at 8:22 am. Pipeline disruptions are usually fixed in a matter of days, though I don't know the details on whatever fix will work for this explosion.
#2) Dollar Rises Against Euro, British Pound on U.S. Economic Growth Outlook The dollar rose against the euro and the pound as global stocks rallied and Goldman Sachs Group Inc. said the U.S. currency's decline is coming to an end.
XX The US dollar looks like it's trying to rally. Let's see if it can get through its 20-day moving average ...
#3) You might think a rising greenback would send gold lower, but that's not the case. Why? Probably because everyone is starting to price in another rate cut, which is inflationary ...U.S. Treasuries Climb on U.S. Stock-Index Losses, Bets Fed Will Cut Rates Treasury notes rose as U.S. stock- index futures declined, boosting demand for the safest assets, and as traders bet the Federal Reserve will cut interest rates further to help the U.S. economy weather a housing slump.
Gold, Silver Advance in London on Outlook for Fed Rate Cut, Weaker Dollar Gold gained in London on speculation the U.S. Federal Reserve may lower interest rates, which would weaken the dollar and fuel demand for bullion. Silver rose.
XX In other words, the US dollar may be rising now, but traders expect it will be weakened by further rate cuts down the road.
#4) And how about those grains?
Wheat Price Gains to Eight-Week High on Drought Concern; Soybeans Advance Wheat futures in Chicago rose for a third day to the highest in almost eight weeks on speculation a lingering drought in the U.S. Southern Plains will damage crops about to go dormant for the winter. Soybeans also extended gains.
The stocks in my agriculture boom report are doing great!
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 8:21 AM
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