FxPro wins Media Man 'Online Brokerage Company Of The Month' award Commodities News Media Man

FxPro wins Media Man 'Online Brokerage Company Of The Month' award

Founded in 2006, FxPro has grown to become a leading online broker, with over 110+ UK and international awards, offering Contracts for Difference (CFDs) and Spread Betting* on 6 asset classes including Forex, Futures, Shares, Spot Indices, Spot Metals, and Spot Energies, to clients in more than 170 countries worldwide.

FxPro Group Limited is the holding company of FxPro Financial Services Ltd, FxPro UK Limited and FxPro Global Markets Ltd. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration no. 509956). FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 078/07) and authorised by the Financial Sector Conduct Authority ('FSCA') (authorisation no. 45052). FxPro Global Markets Ltd is authorised and regulated by the SCB (license no. SIA-F184).

We provide traders with free educational resources, exclusive trading tools and world-class 24/5 customer support. Demo accounts allow traders to practise trading and gain experience in a risk-free environment.

*Spread Betting is only available to clients of FxPro UK Limited who reside in the United Kingdom.

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May 20, 2024

Oil shows weakness

Oil is losing about ¾% of its peak on Monday, having hit a strengthening sell-off as it attempts to climb above $80/bbl WTI and $84/bbl Brent.

Interestingly, oil is declining despite the death of Iran's president, which should reinforce the risk premium, and despite a strong rally in metals and other commodities in response to China's stimulus measures.

News on the US oil industry points to relative stagnation. According to Friday's report from Baker Hughes, the total number of Oil rigs in the US was 497 compared to 496 and 499 in the last two weeks. We have been seeing fluctuations around the 500 since last October.

The official weekly report from the US Energy Information Administration last week also pointed to stagnant production at 13.1 million bpd over the last ten weeks. This volume also is the average over the period since mid-September.

The conclusion is that current prices are neutral for the industry, not creating incentives to increase production but not causing it to decline either.

The price chart also shows a clear balance of power for more than two weeks now. Since December, the price has been moving in an ascending channel. Oil briefly fell out of this range last week but found buyers in the second half of last week, rising from $76.4 to $79.8 in less than three days.

The bulls are also not yet able to unequivocally retake the lead, as an attempt to exceed the 200-day moving average on Monday was met with increased selling. This may be a signal that the bears are still in control of the situation and are now gathering strength for a new downward impulse. We will get confirmation of this hypothesis only in case of consolidation under $76.5. It is also relatively easy for oil to roll back to $75, where the 200-week moving average lies. However, a failure below $70-$71 could start a real corkscrew in oil with a potential first target at $50 and a final target at $30.

The ability to get back above $80 would be a sign of a bullish recovery and set the mood for a quick exit to $85 within weeks and above $92 by mid-summer.

Oil (Wikipedia)

Petroleum (Wikipedia)

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Iron ore, gold, copper and Bitcoin rise

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Roy Morgan Summary

April 19, 2024

Australian Dollar: $0.6420 USD (down 0.0020 USD)

Iron Ore May Spot Price (SGX): $116.55 USD (up $0.70 USD)

Oil Price (WTI): $82.53 USD (down $0.33 USD)

Gold Price: $2,378.14 USD (up $17.05 USD)

Copper Price (CME): $4.4310 USD (up $0.0900 USD)

Bitcoin: $63,661.45 (up 3.83% in last 24 hours)

Dow Jones: 37,775.38 (up 22.07 points on yesterday's close)

News

Broken Hill's union-run newspaper the Barrier Truth announces closure after nearly 130 years

Roy Morgan Summary

Barrier Industrial Council president and Barrier Truth board chair Roslyn Ferry has confirmed that the union-run newspaper is to cease publication after nearly 130 years, saying it breaks her heart to close down its operations. Formerly known as the Barrier Daily Truth, the closure of the paper comes after Broken Hill, a mining town located on the edge of the desert in NSW, lost its commercial news bulletin a year ago. Regional and rural independent newspapers are closing in increasing numbers, and media experts say Meta's recent decision to remove the News tab on Facebook is unlikely to help the situation.

In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price.

Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory.

Hard and soft commodities

Soft commodities are goods that are grown, such as wheat, or rice.

Hard commodities are mined. Examples include gold ,silver, helium, and oil.

Energy commodities include electricity, gas, coal and oil. Electricity has the particular characteristic that it is usually uneconomical to store, and must therefore be consumed as soon as it is produced.

(Wikipedia)

Cash Crop

A cash crop or profit crop is an agricultural crop which is grown to sell for profit. It is typically purchased by parties separate from a farm. The term is used to differentiate marketed crops from subsistence crops, which are those fed to the producer's own livestock or grown as food for the producer's family. In earlier times cash crops were usually only a small (but vital) part of a farm's total yield, while today, especially in developed countries, almost all crops are mainly grown for revenue. In the least developed countries, cash crops are usually crops which attract demand in more developed nations, and hence have some export value.

Prices for major cash crops are set in commodity markets with global scope, with some local variation (termed as "basis") based on freight costs and local supply and demand balance. A consequence of this is that a nation, region, or individual producer relying on such a crop may suffer low prices should a bumper crop elsewhere lead to excess supply on the global markets. This system has been criticized by traditional farmers. Coffee is an example of a product that has been susceptible to significant commodity futures price variations.

(Wikpedia)

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