OIL The oil war combined with the devastating effect of the coronavirus-induced lockdown on economies has triggered a dramatic fall in the price of oil with WTI plunging to its lowest level in more than 20 years with the May contract sinking below $15. On top of that, there is a wide contango across contracts,…
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What about those hidden clues that point to Bitcoin’s potential future? Analysts at Cointelegraph have focused on the $7.6 billion that currently is sitting on the sidelines, stored in various stablecoins and just waiting to jump into the fray. Are these funds waiting for the halving event to have its greatest impact on prices or…
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Initially, the Libra network will operate with four stablecoins, based upon the U.S. Dollar, the English Pound, the Euro, and the Singapore Dollar. The composite Libra Coin will be pegged to these four currencies by a formula endorsed by the IMF to conform to its structure of drawing rights. This major change will greatly enhance…
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What to watch Procter & Gamble: Consumer goods giant Procter & Gamble was meant to report earnings next week, but put out a press release on Tuesday announcing that the firm is moving up its announcement to Friday to provide shareholders information “as quickly and transparently as possible, and should not be construed as an…
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OIL Oil remains in a bearish phase with the WTI price falling to a 18-year low. The spread between WTI and Brent is also widening with Brent proving to be much more resilient currently. This is a clear indicator of how much this oil crisis directly affects the United States and their producers, with the…
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What to watch Abbott Laboratories: Medical giant Abbott Laboratories announced this week that it is launching its third coronavirus test, and that it could be screening up to 20 million people for Covid-19 antibodies by June. While its previous two tests can show whether a person currently has the disease, the new test will show…
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OIL The collapse of the oil price is not yet over. As mentioned in previous comments, the new agreement seems to be massive but in reality it is simply not enough in the face of the collapse in oil demand, leaving producers in serious crisis. In just a few days we have seen the price…
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Kevin Kelly, Delphi’s lead analyst, noted that Bitcoin’s performance year-over-year had yielded a 40% return, despite its recent fall from grace. He added: “There are a handful of asset classes boasting positive returns this year and crypto is one of them. Bitcoin’s latest rebound pushed its year-to-date return back into the black as investors continue…
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Investors sell BP and Shell after Opec deal As UK markets reopened after the long Easter weekend, investors reacted to the fallout from the Opec-Russia oil production cut deal which, while record breaking, has been deemed by some analysts to be too little too late. Royal Dutch Shell’s London-listed shares fell 3.5% on Tuesday, with…
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EUROPEAN SHARES European markets slid lower on Wednesday, following the trend registered overnight by Asian benchmarks albeit on lower volumes than usual. Today’s uncertain market sentiment comes after investors started to digest the first few earnings reports with the financial sector publishing mixed results on Tuesday. This blurry picture is making it hard for traders…
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