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⧉ . ᴘʀɪᴄᴇᴀɢᴇs ᴍᴀɢᴀᴢɪɴᴇ - PyndanEX™

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Natural Gas Flat Despite Second-Largest US Supply Withdrawal

Natural gas futures are trading relatively sideways on Thursday after the US government reported a weekly supply withdrawal that matched market expectations. The energy commodity is on track for a significant decline after peaking at $3.30 early last week. Are the bears in full control of natural gas markets? April natural gas futures edged up by $0.002, or 0.07%, to $2.797 per million British thermal units (btu) at 16:19 GMT on Thursday on the  New York Mercantile Exchange . Natural gas prices are poised for a weekly loss of about 8%, paring their year-to-date rally to below 10%. According to the  US Energy Information Administration (EIA) , domestic inventories of natural gas decreased by 338 billion cubic feet for the week ending February 19. The market had penciled in a decline of 333 billion cubic feet, according to estimates from S&P Global Platts. This represented the  second-largest storage withdrawal on record. In total, US inventories stand at 1.943 trillion cubic f

Transforming agri-food systems is powerful lever for achieving global goals

A holistic redesign of the world’s agri-food systems can make outsized contributions to achieving global pledges such as ending hunger by 2030, FAO Director-General QU Dongyu said in a keynote lecture at Italy’s historic Accademia Nazionale dei Lincei. source http://www.fao.org/news/story/en/item/1377484/icode/

Silver Price Forecast: XAG Settles, Can Bulls Force a SLV Breakout?

Silver kicked off February with a fresh seven-year-high but quickly retreated after touching above the 30 level. Can buyers force a sustainable break? source  Read More!

Be Careful When Selling BTC for Under $50k, Adam Back Warns

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Bitcoin ( BTC ) experienced a correction of more than 20% after reaching its   all-time high of $58,330 on February 21. Still, institutional investors continue to buy the largest digital currency. Adam Back , co-founder and CEO of blockchain technologies provider Blockstream, warned those selling Bitcoin for under $50,000 in  his February 24 post . Commenting on  Square’s recent Bitcoin investment of $170 million , Back stated: Worth noting that Square bought in the last 7days. Either before $58k or after, or a mix of peak & dip buying average. Keep that in mind before selling BTC under $50k: both institutional and retail ETF buying up for cold storage . Financial services giant Square announced on February 23  that it had purchased 3,318 Bitcoins worth $170 million . After this investment, the company invested 5% of its total reserve in Bitcoin. The  business intelligence giant MicroStrategy, which triggered the influx of institutional investors in the industry by inve

Bitcoin Must Cross This Level to Invalidate the Short-Term Bearish Scenario

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After a  sharp correction on February 23 below $45,000 , Bitcoin (BTC) was able to recover the gains it lost on February 24. However, the premier cryptocurrency has yet to break above an important resistance level in the $56,000 area. Technical analysts think that if Bitcoin fails to pass the $51,600 resistance in the short term, the chances of a correction will increase. BTC/USD 4-hour price chart (Bitstamp). Source: TradingView Key level $ 51,600 According to crypto analyst Josh Orschwitz, $51,600 is currently acting as a strong resistance. He explained that it would be important for Bitcoin to break through $51,600 in order to retest the record high of $58,000 again and start rising towards $62,000. This means that if Bitcoin rises above $51,600, it will nullify all bearish scenarios for Bitcoin in the short term. If this level is not exceeded, however, the support levels around $42,000 can be tested . The $42,000 support is the key level as it was the peak of the previou

EUR/USD Trades Sideways After Strong Rally

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EUR/USD demonstrated a strong rally today, though at the time of writing the pair has been trading sideways. US macroeconomic reports released over the trading session were mixed, with some of them coming out better than expected while others were disappointing. US GDP rose by  4.1% in Q4 2020 according to the preliminary (second) estimate. That was a better reading than the advance estimate of 4.0% but worse than the consensus forecast of 4.2%. GDP surged by 33.1% in Q3, recovering from a huge slump logged in the preceding quarter. (Event A on the chart.) Durable goods orders climbed by 3.4% in January. That was a surprise as analysts had predicted just a mild increase of 0.9%. Furthermore, the previous month’s increase got a positive revision from 0.2% to 0.5%. (Event A on the chart.) Initial jobless claims were at  730k last week , seasonally adjusted, down from the previous week’s revised figure of 841k (861k before the revision). Experts had predicted a much smaller decreas

United States Kansas Fed Manufacturing Index

Kansas Fed Manufacturing Index in the United States increased to 26 points in February from 22 points in January of 2021. Kansas Fed Manufacturing Index in the United States averaged 7.73 points from 2001 until 2021, reaching an all time high of 35 points in March of 2005 and a record low of -62 points in April of 2020. The Kansas City Fed's monthly Survey of Tenth District Manufacturers provides information on current manufacturing activity in the Tenth Federal Reserve District, encompassing the western third of Missouri; all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming; and the northern half of New Mexico. The survey monitors about 300 manufacturing plants selected according to geographic distribution, industry mix, and size. Survey results reveal changes in several indicators of manufacturing activity, including production and shipments, and identify changes in prices of raw materials and finished products. This page provides - United States Kansas Fed Manufacturing Ind

United States Natural Gas Stocks Change

Working gas held in storage facilities in the United States decreased by 338 billion cubic feet in the week ending February 19 of 2021 . Natural Gas Stocks Change in the United States averaged -0.29 Billion cf from 1994 until 2021, reaching an all time high of 147 Billion cf in July of 2003 and a record low of -359 Billion cf in January of 2018. Natural Gas Stocks Change refers to the weekly change of the natural gas supply situation. This page provides the latest reported value for - United States Natural Gas Stocks Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. SOURCE: 🇺🇸 United States https://tradingeconomics.com/united-states/natural-gas-stocks-change

United States Pending Home Sales

Pending Home Sales in the United States increased 13 percent in January of 2021 over the same month in the previous year. Pending Home Sales in the United States averaged 1.17 percent from 2002 until 2021, reaching an all time high of 30.90 percent in October of 2009 and a record low of -33.60 percent in April of 2020. Pending Home Sales Index is based on sales of existing homes where the contract has been signed but the transaction has not been closed. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. This page provides the latest reported value for - United States Pending Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. SOURCE: 🇺🇸 United States https://tradingeconomics.com/united

United States Gross National Product

Gross National Product in the United States increased to 18755.02 USD Billion in the third quarter of 2020 from 17442.93 USD Billion in the second quarter of 2020. Gross National Product in the United States averaged 9148.10 USD Billion from 1950 until 2020, reaching an all time high of 19509.57 USD Billion in the fourth quarter of 2019 and a record low of 2199.23 USD Billion in the first quarter of 1950. This page provides - United States Gross National Product - actual values, historical data, forecast, chart, statistics, economic calendar and news. SOURCE: 🇺🇸 United States https://tradingeconomics.com/united-states/gross-national-product