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OPEC Agrees To 1.5MM Barrel Output Cut, But Fails To Obtain Critical Russian Backing
Article By:
Tyler Durden
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Thursday, March 5, 2020 9:25 AM EDT
Today's OPEC meeting has been more of a stunt by members to persuade Russia to agree to deep cuts amid a demand shock triggered by the Covid-19.
$5,000 Thursday – Down We Go Again!
Article By:
Phil Davis
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Thursday, March 5, 2020 9:23 AM EDT
OPEC has already cut 2.1Mb/d in the past few years and now they are cutting 1.5Mb/d because there is still a glut but that means now there is 3.6Mb/d of spare capacity.
BoC And Fed Cut Rates By 50bps, Who’s Next?
Article By:
Fullerton Markets
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Thursday, March 5, 2020 9:21 AM EDT
With both Fed and Bank of Canada cutting rates by 50bps, the rest of the major central banks may start to follow. Long XAU/USD?
Singapore: Recession Looms
Article By:
ING Economics
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Thursday, March 5, 2020 9:17 AM EDT
A recession in Singapore seems inevitable. That's why we've cut our forecast for annual growth to 0.3% from 1.0%.
Canadian Natural Resources Lags Q4 Earnings And Revenue Estimates
Article By:
Zacks Investment Research
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Thursday, March 5, 2020 9:10 AM EDT
Canadian Natural Resources came out with quarterly earnings of $0.44 per share.
In this article: CNQ
Weekly Unemployment Claims: Down 3K From The Previous Week
Article By:
Jill Mislinski
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Thursday, March 5, 2020 9:08 AM EDT
This morning's seasonally adjusted 216K new claims, down 3K from the previous week's figure, was slightly worse than the Investing.com forecast of 215K.
S&P 500 May Continue The Downtrend To 3024 Or 2988 While Trading Below Resistance 3085
Article By:
Anton Kolhanov
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Thursday, March 5, 2020 9:00 AM EDT
The downtrend may be expected to continue, while S&P 500 is trading below resistance level 3085, which will be followed by reaching support level 3024 and if it keeps on moving down below that level, we may expect S&P 500 to reach support level 2988.
Bitcoin Forecast: Continue Building Its Base
Article By:
Christopher Lewis
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Thursday, March 5, 2020 8:40 AM EDT
The Bitcoin market did very little during trading on Wednesday, as markets continue to consolidate after a violent thrashing in both directions from a global standpoint.
In this article: BITCOMP
Oil Sub $47 As OPEC Awaits Russia’s Support
Article By:
Fiona Cincotta
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Thursday, March 5, 2020 8:30 AM EDT
Oil has been unable to hold onto earlier gains and is once again trending southwards on Thursday ahead of the highly anticipated OPEC meeting.
In this article: OIL
Will The Fed’s Shock Interest Rate Cut Save The Stock Market?
Article By:
Admiral Markets
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Thursday, March 5, 2020 8:20 AM EDT
Central banks are becoming increasingly worried about the potential for a coronavirus 'pandemic'. As more and more cases are being reported around the world, markets have looked towards central bankers to act and support the economy.
In this article: DJI
EUR/USD Continue The Uptrend To Resistance 1.1238 While Trading Above Support 1.1170
Article By:
Anton Kolhanov
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Thursday, March 5, 2020 8:17 AM EDT
The uptrend may be expected to continue, while pair is trading above support level 1.1155, which will be followed by reaching resistance level 1.1240 and if it keeps on moving up above that level, we may expect the pair to reach resistance 1,1155.
In this article: FXE