Thread: ForexMart's Forex News

May 10. SpaceX will launch a satellite to the Moon, paid for by Dogecoin

SpaceX will launch a satellite to the Moon during the mission, which will be paid for with Dogecoin cryptocurrency. This was announced on Twitter by the head of the corporation Elon Musk. He wrote: «Mission paid at Doge. The first cryptocurrency in space, the first meme in space.»

SpaceX Vice President Tom Ochinero noted that the launch of a satellite to the Moon (DOGE-1 mission) «will demonstrate the use of cryptocurrency outside of Earth orbit and lay the foundation for interplanetary trade.»

The satellite itself belongs to the Canadian company Geometric Energy Corporation (GEC) and is a 40-kilogram device equipped with sensors and cameras. Its launch with a Falcon 9 launch vehicle is scheduled for the first quarter of 2022.

Last week, Dogecoin peaked at $ 0.69. Prior to Musk's appearance on Saturday Night Live, the token's value climbed to a record $0.73, but during the airtime it dropped 30%.

May 12. Wall Street falls after inflation data

Wall Street indices declined on Wednesday after better-than-expected US inflation data raised fears of a Fed monetary tightening.

According to the US Department of Labor, in April, consumer prices rose at their most in almost 12 years due to increased demand amid the opening of the economy. Excluding food and energy prices, consumer prices rose 0.9%, the highest since April 1982. As a result, market participants expect a 0.25 percentage point rate hike by the end of 2022 after such a strong acceleration of inflation in April.

Uncertainty around the dynamics of rates and inflation is forcing investors to revise their portfolios, especially in technology stocks.

As a result, the Dow Jones index fell by 0.93% to 33.950.66 points, the S&P 500 index - by 1.20% to 4.102.33 points, and the Nasdaq – by 1.91% to 13.133.86 points.

May 17. Russia in March retained the second place in oil production in the world

According to the Joint Petroleum Statistics Initiative (JODI), Russia in March again remained in second place in the world in terms of oil production with an indicator of 9.508 million barrels per day. The United States retained the world leadership, while Saudi Arabia remained in third place.

Russia remains in second place for the eleventh month in a row. Only in April 2020 Russia dropped to third place. Until this moment, the Russian Federation has also been in second place for over a year.

According to the JODI, oil production in Russia in March increased by 1.3% compared to February. The United States increased production by 11.2% in monthly terms – to 10.968 million barrels of oil per day, while Saudi Arabia – reduced by 0.1%, to 8.138 million barrels per day.

Oil exports from Saudi Arabia in March decreased in monthly terms by 3.5%, to 5.427 million barrels per day, and from the United States – increased by 7.5%, to 2.85 million barrels. In February, the Russian Federation exported 4.361 million barrels of oil per day, and in January – 3.986 million.

May 21. Germany explained Europe's need for Nord Stream 2

Representatives of the German Bundestag said that the practical economic interests of Germany and other European countries have finally outweighed US political opposition to the Nord Stream 2 project.

The US State Department previously said that Nord Stream 2 AG, which is building the gas pipeline, is subject to sanctions, but refused to implement them, citing national security. White House officials admit that the pipeline will now be difficult to stop.

Moreover, Germany has already raised the issue of the possibility of transporting hydrogen through this pipeline. According to Heiko Hessenkemper, member of the Bundestag Committee for Economic Affairs and Energy, this should also become an important part of Germany's climate policy.

Also, Germany is confident that not only does it need Russian natural gas, but also other countries, such as the Netherlands, which used to be exporters and are now becoming dependent on natural gas imports. Politicians note that «the building blocks have now been laid for the normalization of relations and the growth of European-Russian trade.» Therefore, there is no doubt that the gas pipeline will be completed.

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Xem thêm: [/b]Chữa trị bệnh viêm tinh hoÃ*n ở đâu uy tÃ*n tại Ä�Ã* Nẵng

May 24. Gold rises in price on weaker dollar and lower yields on US bonds

On Monday, the price of gold is growing against the background of a weakening US dollar and a decline in yields on US government bonds. The current quotation of the precious metal is $ 1885.35 per troy ounce.

Gold price continues to rise for the fourth trading session in a row. The dollar index again dropped below 90 points, and the yield on ten-year US Treasuries fell to 1.6% from the previous close of 1.632%.

Analysts note that falling Treasury yields and a softer dollar have created good conditions for a rise in gold prices. In particular, the weakening dollar makes gold more accessible to holders of other currencies. And the decline in the yield on US government bonds, in turn, makes them less attractive as an alternative in the field of «safe» investments.

May 25. Wall Street grows thanks to declining bond yields

On Tuesday, Wall Street's major indices opened higher as the largest-cap hi-tech stocks strengthened, inflation fears eased and US bond yields fell for the fourth day in a row. Analysts note that the yield on 10-year Treasury bonds on Tuesday fell to a new two-week low.

As a result, the Dow Jones Industrial Average rose 22.20 points, or 0.06%, to 34416.18, the S&P 500 rose 2.92 points, or 0.07%, to 4199.97, and the Nasdaq Composite rose by 29.20 points, or 0.21%, to 13690.37.

The S&P 500 is within 1% of its all-time high of May 7. Moreover, it recorded 22 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 19 new lows.

Boeing gained 2.4% after SMBC Aviation Capital agreed to buy 14 more 737 MAX aircraft. Lordstown Motors Corp. shares plunged 13.7% after EV makers announced much lower production in 2021.

May 26. The oil market is growing after the publication of data on oil reserves

World prices for «black gold» rose on Wednesday evening after the US Department of Energy announced a reduction in crude oil reserves in the country. The current quotation for Brent is $68.75 per barrel, WTI oil is quoted at $66.23 per barrel.

According to a report by the US Department of Energy, commercial oil reserves in the United States over the past week fell by 1.7 million barrels – to 484.3 million. Analysts at the same time expected a decrease in the index by only 1.05 million barrels.

In addition, the decline in stocks of distillates and gasoline also turned out to be stronger than experts' forecasts: distillate stocks decreased by 3 million barrels (the forecast assumed a decrease of 1.9 million), and gasoline – by 1.7 million (with a forecast of a decrease of 0.61 million barrels ).

Markets also continue to monitor the situation around Iran's nuclear deal, assessing the prospects for the return of Iranian oil to the market.

May 27. US labor market: what's the news?

According to the US Department of Labor, the number of Americans who filed new applications for unemployment benefits fell more-than-expected last week to 406 thousand. Economists predicted 425 thousand applications. Last week, the number of requests was fixed at the level of 478 thousand.

The decline came mainly on the back of fewer layoffs, as companies are in dire need of workers to meet the growing demand driven by the rapidly recovering economy. What's more, the pandemic-related business restrictions have been lifted as more than half of the US adult population is fully vaccinated against the coronavirus.

And while the number of applications still far exceeds the 200,000 to 250,000 range considered compatible with healthy labor market conditions, they fell from a record 6.149 million in early April 2020.

23 states, including Florida and Texas, have announced the end of federal government-funded unemployment programs next month. These programs include a $300 weekly subsidy that businesses say discourages unemployed people from finding work.

There will be no miracle. Experts predicted a weekly and annual scenario for the development of the oil market

According to analysts of commodity markets, the coming week for oil quotes will be quite stable due to the support of domestic industry statistics from the United States.

According to American statistics, the US black gold market is now experiencing an active reduction in reserves of raw materials to the lowest levels over the past three months.

Experts believe that such dynamics of the oil market indicates the rapid recovery of the world's major economies. And this, in turn, causes an increase in the volume of consumption of hydrocarbons. As a result, the combination of these factors partially equalizes progress in a new nuclear agreement with Iran.

At the same time, the strengthening of the US dollar and the psychological barrier of $ 70 per barrel act as a definite limiting factor for further uncontrolled growth in oil prices. To take that high, the market will definitely need more significant events and news.

Summarizing all of the above, in the short term (week from May 31 to June 4), oil prices for North Sea Brent crude oil will be in the $ 67-70 per barrel corridor.

As for the longer-term forecasts of analysts, experts here assume an average price of $ 55-60 per barrel for oil this year. According to them, the OPEC + agreement is still the determining factor for quotations of black gold.