U.S. crude stocks rose less then expected last week, while gasoline stocks rose by more than analysts had forecast as refineries cut output, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1.8 million barrels in the week to Feb. 9, short of analysts’ expectations for an increase of 2.8 million barrels. Read More @ https://www.reuters.com/article/us-usa-oil-eia/u-s-crude-oil-gasoline-inventories-rise-eia-idUSKCN1FY2BQ
Real interest rates should stay negative as the Fed raises rates, creating a buying opportunity for gold, says Vince Lanci, founder of EchoBay Partners.“If an unqualified spike in inflation were to come out, the stock market should definitely sell off,” Lanci told Kitco News, “gold should sell off…gold should react the same way as stocks in the short term. ”Lanci said that since the Fed’s monetary policy has historically trailed inflation, real interest rates would still be kept low as nominal rates rise to keep up with rising inflation. Negative or low interest rates are a boon for gold prices.On key levels for gold, Lanci said that above $1,300 on ounce, investors may see some short covering, and a rally up to $1,350.“If we stabilize above $1,330 with the stock market where it is, then I think we’re on path to $1,400 in two or three months,” he added.
EURO NO TURNING BACK
Draghi faces an impossible task to weaken the euro — and he might not even try
- Analysts believe that Draghi wouldn’t be able to talk down the euro, even if he wanted to.
- The euro has risen nearly 3 percent against the U.S. dollar since the start of the year.
- In January, flash data suggested that inflation grew at 1.3 percent. Read more @ https://www.cnbc.com/2018/02/13/draghi-faces-an-impossible-task-to-weaken-the-euro.html
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