20210206

United States - Credit Rating

Fitch Ratings changed on Friday 31 July 2020 the United States’ sovereign rating outlook to negative from stable and affirmed the debt grade at AAA, citing as main trigger behind the revision the ongoing deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan, issues that were highlighted in the agency's last rating review on March 26, 2020. Standard & Poor's credit rating for the United States stands at AA+ with stable outlook. Moody's credit rating for the United States was last set at Aaa with stable outlook. DBRS's credit rating for the United States is AAA with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of the United States thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for the United States as reported by major credit rating agencies.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/rating

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United States Imports of NAICS - Beverages and Tobacco

Imports of NAICS - Beverages and Tobacco in the United States decreased to 2220.20 USD Million in December from 2510.70 USD Million in November of 2020. Imports of NAICS - Beverages and Tobacco in the United States averaged 1532.06 USD Million from 2003 until 2020, reaching an all time high of 2565.90 USD Million in August of 2020 and a record low of 687.80 USD Million in January of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Beverages And Tobacco.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-beverages-and-tobacco

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United States Imports of NAICS - Chemicals

Imports of NAICS - Chemicals in the United States increased to 23013.40 USD Million in December from 21643.20 USD Million in November of 2020. Imports of NAICS - Chemicals in the United States averaged 16170.62 USD Million from 2003 until 2020, reaching an all time high of 25969.80 USD Million in March of 2020 and a record low of 7623.20 USD Million in February of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Chemicals.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-chemicals

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United States Imports: Naics - Computers And Electronic Products

Imports: Naics - Computers And Electronic Products in the United States decreased to 38779.40 USD Million in December from 39195.30 USD Million in November of 2020. Imports: Naics - Computers And Electronic Products in the United States averaged 27596.96 USD Million from 2003 until 2020, reaching an all time high of 40675.40 USD Million in November of 2017 and a record low of 2540.80 USD Million in August of 2016. This page includes a chart with historical data for the United States Imports of NAICS - Computers And Electronic Produ.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-computers-and-electronic-produ

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United States Imports: Naics - Electrical Equipment Appliances And Components

Imports: Naics - Electrical Equipment Appliances And Components in the United States decreased to 11580.90 USD Million in December from 11762.80 USD Million in November of 2020. Imports: Naics - Electrical Equipment Appliances A in the United States averaged 6867.05 USD Million from 2003 until 2020, reaching an all time high of 12410.70 USD Million in October of 2020 and a record low of 81.80 USD Million in May of 2015. This page includes a chart with historical data for the United States Imports of NAICS - Electrical Equipment Appliance.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-electrical-equipment-appliance

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United States Imports of NAICS - Fabricated Metal Products

Imports of NAICS - Fabricated Metal Products in the United States increased to 6411.20 USD Million in December from 6402.30 USD Million in November of 2020. Imports of NAICS - Fabricated Metal Products in the United States averaged 4661.06 USD Million from 2003 until 2020, reaching an all time high of 7175.50 USD Million in October of 2018 and a record low of 2278.70 USD Million in February of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Fabricated Metal Products.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-fabricated-metal-products

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United States Imports of NAICS - Fish and Other Marine Products

Imports of NAICS - Fish and Other Marine Products in the United States increased to 1432.70 USD Million in December from 1306.30 USD Million in November of 2020. Imports of NAICS - Fish and Other Marine Products in the United States averaged 1069.71 USD Million from 2003 until 2020, reaching an all time high of 2526 USD Million in September of 2016 and a record low of 552.60 USD Million in March of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Fish and Other Marine Products.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-fish-and-other-marine-products

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United States Imports of NAICS - Food and Kindred Products

Imports of NAICS - Food and Kindred Products in the United States decreased to 6093.90 USD Million in December from 6125 USD Million in November of 2020. Imports of NAICS - Food and Kindred Products in the United States averaged 4005.25 USD Million from 2003 until 2020, reaching an all time high of 6383 USD Million in October of 2020 and a record low of 1654.70 USD Million in February of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Food And Kindred Products.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-food-and-kindred-products

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United States Imports of NAICS - Forestry Products

Imports of NAICS - Forestry Products in the United States increased to 218.80 USD Million in December from 203.50 USD Million in November of 2020. Imports of NAICS - Forestry Products in the United States averaged 234.64 USD Million from 2003 until 2020, reaching an all time high of 566.10 USD Million in May of 2011 and a record low of 90.40 USD Million in June of 2009. This page includes a chart with historical data for the United States Imports of NAICS - Forestry Products.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-forestry-products

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United States Imports of NAICS - Furniture and Fixtures

Imports of NAICS - Furniture and Fixtures in the United States increased to 4320 USD Million in December from 4230 USD Million in November of 2020. Imports of NAICS - Furniture and Fixtures in the United States averaged 2603.28 USD Million from 2003 until 2020, reaching an all time high of 4447.10 USD Million in December of 2018 and a record low of 1456.10 USD Million in February of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Furniture And Fixtures.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-furniture-and-fixtures

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United States Imports of NAICS - Goods Returned Or Reimported

Imports of NAICS - Goods Returned Or Reimported in the United States increased to 7660.50 USD Million in December from 7321.20 USD Million in November of 2020. Imports of NAICS - Goods Returned Or Reimported in the United States averaged 4538.19 USD Million from 2003 until 2020, reaching an all time high of 9436.70 USD Million in October of 2019 and a record low of 2463.20 USD Million in February of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Goods Returned Or Reimported.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-goods-returned-or-reimported

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United States Imports of NAICS - Leather and Allied Products

Imports of NAICS - Leather and Allied Products in the United States decreased to 2696.30 USD Million in December from 3068.80 USD Million in November of 2020. Imports of NAICS - Leather and Allied Products in the United States averaged 2729.14 USD Million from 2003 until 2020, reaching an all time high of 3995.10 USD Million in August of 2015 and a record low of 1684.40 USD Million in May of 2020. This page includes a chart with historical data for the United States Imports of NAICS - Leather And Allied Products.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-leather-and-allied-products

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United States Imports of NAICS - Livestock and Livestock Produc

Imports of NAICS - Livestock and Livestock Produc in the United States increased to 572.20 USD Million in December from 548.20 USD Million in November of 2020. Imports of NAICS - Livestock and Livestock Produc in the United States averaged 404.44 USD Million from 2003 until 2020, reaching an all time high of 624.50 USD Million in March of 2019 and a record low of 170.40 USD Million in June of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Livestock And Livestock Produc.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-livestock-and-livestock-produc

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United States Imports of NAICS - Machinery Except Electrical

Imports of NAICS - Machinery Except Electrical in the United States increased to 15679.50 USD Million in December from 15153.50 USD Million in November of 2020. Imports of NAICS - Machinery Except Electrical in the United States averaged 11313.86 USD Million from 2003 until 2020, reaching an all time high of 16821.50 USD Million in April of 2019 and a record low of 5556.70 USD Million in February of 2003. This page includes a chart with historical data for the United States Imports of NAICS - Machinery Except Electrical.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/imports-of-naics-machinery-except-electrical

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Bitcoin Wrap: A Bullish Week for the King

The last 24-hour range of Bitcoin was between $36,637 to $39,881. At 11:04 GMT on Saturday, the pioneer cryptocurrency was trading at $39,881, gaining a whooping 6.63% in the last 24 hours.

The price of Bitcoin is now in the fifth day of an upward momentum. Going as high as almost $40k as the weekend began. There are signals that show that retail adoption of the king cryptocurrency may point to why it’s seeing a bullish outlook.

Michael Gord, chief executive officer for trading firm Global Digital Asset, noted that:

Similar to the last bull run, we are seeing bitcoin initially steal the attention as retail adoption pours in through mainstream attention

Despite this bullish outlook, Gord told CoinDesk that it seems that traders are rotating out of Bitcoin to other high-flying digital assets:

Bitcoin then cools off and profits generated from bitcoin find themselves first in ether, then in other high market-cap digital assets

Notwithstanding, Ray Dalio of Bridgewater Associates, which manages $150 billion in investor money, has some thoughts on this including quantitative trading firm QCP Capital highly bullish on Bitcoin. The QCP weekly investor note Friday noted that if 50% of capital invested in gold moved to BTC, a forecast of $85,000 per Bitcoin is possible.

The investor note noted:

Bridgewater’s piece out last week had a sensitivity analysis which showed their estimates of BTC price, should private holders of gold switch to BTC. They forecasted that should 50% of capital in gold move into BTC, that would result in a price of $85,000 per 1 BTC.

gold and bitcoin charts

Volatility concerns continue

The volatility of Bitcoin is still a concern as investors look to Bitcoin as an asset class. The volatility of the coin in the 30-day range from Thursday’s close was at 102.9%. This is a total opposite on an annualized basis when compared to 16% volatility for gold.

As investors fear for Bitcoin, it appears that crypto assets remain valuable. Bitcoin has gained 29% in 2021 so far. But Ethereum has returned almost quadruple, gaining 129% since the start of the year.

Joel Edgerton, chief operating officer of cryptocurrency exchange BitFlyer USA gave a probable reason:

My guess is that BTC is like gold and priced by the value it stores, a scarce commodity in price discovery. ETH is more like a stock and priced by the value it delivers (ETH 2.0, network effects, basis for DeFi).

eth and btc in the year

Watching the trading charts during heated hours of ETH/BTC trading pair revealed that traders are selling their Bitcoin for Ether.

Jason Lau, chief operating officer of San Francisco-based crypto exchange OKCoin mentioned that ETH has seen more focus because of Bitcoin consolidation:

While bitcoin consolidates and trends back towards all-time highs, much of the price action has focused on the ETH and DeFi space.  ETH/BTC has almost doubled in the last month.

If you have any questions and comments on Bitcoin today, use the form below to reply.


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United States Crude Oil Exports

Oil Exports in the United States increased to 4662 USD Million in December from 3383.54 USD Million in November of 2020. Oil Exports in the United States averaged 609.96 USD Million from 1989 until 2020, reaching an all time high of 6722.71 USD Million in December of 2019 and a record low of 0 USD Million in October of 1992. This page provides - United States Crude Oil Exports- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/oil-exports

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United States Overnight Repo Rate

The United States Overnight Repo Rate decreased to 0.05 on Friday February 5 from 0.08 in the previous day. Repo Rate in the United States averaged 2.30 from 1995 until 2021, reaching an all time high of 6.94 in September of 2019 and a record low of -0.01 in December of 2009. Overnight repo rate is the interest rate at which different market participants swap treasuries for cash to cover short-term cash needs. The repo rate is helping to ensure banks have the liquidity to meet their daily operational needs and maintain sufficient reserves. The repo rate usually trades in line with the Federal Reserve’s target interest rate. This page provides - United States Repo Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/repo-rate

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United States Full Time Employment

Full Time Employment in the United States increased to 122423 Thousand in September from 122369 Thousand in August of 2020. Full Time Employment in the United States averaged 99170.71 Thousand from 1968 until 2021, reaching an all time high of 131755 Thousand in December of 2019 and a record low of 64640 Thousand in January of 1968. In the United States, employed full-time workers are persons who usually work 35 hours or more per week. This page provides - United States Full Time Employment- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/full-time-employment

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United States Part Time Employment

Part Time Employment in the United States decreased to 24627 Thousand in January from 24917 Thousand in December of 2020. Part Time Employment in the United States averaged 21052.68 Thousand from 1968 until 2021, reaching an all time high of 28134 Thousand in July of 2013 and a record low of 10086 Thousand in January of 1968. In the United States, employed part-time workers are persons who usually work 35 hours or less per week. This page provides - United States Part Time Employment- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/part-time-employment

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United States - Credit Rating

Fitch Ratings changed on Friday 31 July 2020 the United States’ sovereign rating outlook to negative from stable and affirmed the debt grade at AAA, citing as main trigger behind the revision the ongoing deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan, issues that were highlighted in the agency's last rating review on March 26, 2020. Standard & Poor's credit rating for the United States stands at AA+ with stable outlook. Moody's credit rating for the United States was last set at Aaa with stable outlook. DBRS's credit rating for the United States is AAA with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of the United States thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for the United States as reported by major credit rating agencies.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/rating

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United States Government Debt

Government Debt in the United States increased to 27784553 USD Million in January from 27747798 USD Million in December of 2020. Government Debt in the United States averaged 4588937.83 USD Million from 1942 until 2021, reaching an all time high of 27784553 USD Million in January of 2021 and a record low of 60000 USD Million in January of 1942. In the United States, government debt refers to federal debt held by individuals, corporations, state or local governments, foreign governments, and other entities outside of the United States Government less Federal Financing Bank securities. . This page provides - United States Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/government-debt

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United States Home Ownership Rate

Home Ownership Rate in the United States decreased to 65.80 percent in the fourth quarter of 2020 from 67.40 percent in the third quarter of 2020. Home Ownership Rate in the United States averaged 65.25 percent from 1965 until 2020, reaching an all time high of 69.20 percent in the second quarter of 2004 and a record low of 62.90 percent in the second quarter of 1965. Home Ownership Rate refers to the percentage of homes that are occupied by the owner. This page provides the latest reported value for - United States Home Ownership Rate - 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/home-ownership-rate

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United States New Orders

New Orders in the United States increased to 493548 USD Million in December from 487240 USD Million in November of 2020. New Orders in the United States averaged 385839.16 USD Million from 1992 until 2020, reaching an all time high of 551446 USD Million in July of 2014 and a record low of 223500 USD Million in February of 1992. In the United States, because new orders heavily affect business confidence they are a leading indicator for growth in gross domsestic product. This page provides - United States New Orders - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/new-orders

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20210205

Commodities Week in Review: February 1 to February 5

Commodities Week in Review: February 1 to February 5

Agriculture 

It was a mixed week for the agricultural commodities market, mainly because of a strengthening US dollar. A stronger greenback is typically bad news for dollar-pegged commodities because it makes it more expensive for foreign investors to purchase. For the primary agricultural products — corn, soybeans, and wheat — exports were in focus, particularly after China made enormous purchases in recent weeks, a transaction that put US output and supplies under the microscope.

Cocoa 

  • Friday Settlement: +$13.00, or 0.53%, to $2,485 per metric ton
  • Weekly Performance: -1.47%
  • YTD Performance: -4.31%

Coffee 

  • Friday Settlement: -$0.0055, or 0.4%, to $1.2395 per pound
  • Weekly Performance: +1.31%
  • YTD Performance: -2.63%

Corn 

  • Friday Settlement: -$0.01, or 0.18%, to $5.49 per pound
  • Weekly Performance: +0.32%
  • YTD Performance: +13.02%

Cotton 

  • Friday Settlement: -1.67 cents, or 1.98%, to 82.61 cents per pound
  • Weekly Performance: +2.40%
  • YTD Performance: +5.63%

Lean Hogs

  • Friday Settlement: +$0.01075, or 1.36%, to 80.375 cents per pound
  • Weekly Performance: +4.62%
  • YTD Performance: +14.25%

Orange Juice 

  • Friday Settlement: +$0.009, or 0.81%, to $1.1215 per pound
  • Weekly Performance: +1.54%
  • YTD Performance: -10.89%

Rice 

  • Friday Settlement: +$0.001, or 0.08%, to $12.835 per pound
  • Weekly Performance: -0.31%
  • YTD Performance: +7.72%

Soybeans 

  • Friday Settlement: -$0.05, or 0.036%, to $13.675 per bushel
  • Weekly Performance: -0.02%
  • YTD Performance: +4.37%

Sugar 

  • Friday Settlement: +0.41 cent, or 2.55%, to 16.46 cents per pound
  • Weekly Performance: +3.85%
  • YTD Performance: +6.19%

Wheat 

  • Friday Settlement: +$0.035, or 0.55%, to $6.41 per bushel
  • Weekly Performance: -3.28%
  • YTD Performance: -0.12%

Bitcoin 

The peer-to-peer decentralized digital currency bitcoin should have dominated cryptocurrency headlines this week, but it was the altcoins that captured everyone’s attention. Ethereum surged to a record high, while dogecoin resuscitated. Still, bitcoin prices topped $38,000, and it could soon retest $39,000.

  • Friday Settlement: +$140.00, or 0.37%, to $38,055.00 per coin
  • Weekly Performance: +1.93%
  • YTD Performance: +30.24%

Energy 

The energy market had its best weekly performance this week as crude oil and natural gas soared. Crude prices surged on prospects that the Organization of the Petroleum Exporting Countries (OPEC) would place a lid in output, while natural gas futures soared on Arctic-like temperatures blanketing much of the US this month. Overall, US crude touched its best level in a year, and natural gas hit an important threshold of $3.

West Texas Intermediate (WTI) Crude Oil 

  • Friday Settlement: +$0.84, or 1.49%, to $57.07 per barrel
  • Weekly Performance: +9.46%
  • YTD Performance: +17.86%

Brent Crude Oil 

  • Friday Settlement: +$0.28, or 0.47%, to $59.62 per barrel
  • Weekly Performance: +8.20%
  • YTD Performance: +15.27%

Natural Gas 

  • Friday Settlement: -$0.053, or 1.81%, to $2.882 per million British thermal units (btu)
  • Weekly Performance: +12.71%
  • YTD Performance: +13.64%

Gasoline 

  • Friday Settlement: +$0.0087, or 0.53%, to $1.6535 per gallon
  • Weekly Performance: +6.49%
  • YTD Performance: +17.18%

Heating Oil 

  • Friday Settlement: +$0.0158, or 0.93%, to $1.7163 per gallon
  • Weekly Performance: +7.57%
  • YTD Performance: +15.60%

Metals 

What a week it was for the metals market. It started off promising for gold and silver prices, thanks to talk of a silver squeeze. As the week progressed, they started trending downward. But the precious metals finished the week on a high note, rallying more than 1% and 3%, respectively. Can they extend the momentum next week? It might depend on US fiscal stimulus.

Gold 

  • Friday Settlement: +$24.00, or 1.34%, to $1,815.20 per ounce
  • Weekly Performance: -1.87%
  • YTD Performance: -4.54%

Silver 

  • Friday Settlement: +$0.801, or 3.05%, to $27.035 per ounce
  • Weekly Performance: -0.04%
  • YTD Performance: +1.92%

Copper 

  • Friday Settlement: +$0.087, or 2.45%, to $3.64 per pound
  • Weekly Performance: +2.81%
  • YTD Performance: +3.41%

Palladium 

  • Friday Settlement: +$63.30, or 2.78%, to $2,344.00 per ounce
  • Weekly Performance: +5.18%
  • YTD Performance: -4.54%

Platinum 

  • Friday Settlement: +$34.80, or 3.16%, to $1,137.80 per ounce
  • Weekly Performance: +5.36%
  • YTD Performance: +5.40%

Steel 

  • Friday Settlement: +$0.19, or 1.73%, to $1,120.00 per ton
  • Weekly Performance: +3.32%
  • YTD Performance: +16.30%

If you have any questions and comments on commodities today, use the form below to reply.


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source https://www.earnforex.com/commodities/commodities-week-in-review-february-1-to-february-5/

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Bitcoin, Ethereum Technical Analysis: Bid into a Busy Weekend

Ethereum futures go live next week and this week saw a massive bullish run in anticipation. Will the futures listing serve to continue the trend or reverse the move?

source https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/02/05/Bitcoin-Ethereum-BTC-ETH-BTCUSD-ETHUSD-Technical-Analysis-Bid-into-Busy-Weekend.html

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United States Net Purchases of US Treasury Bonds and Notes

Foreign Bond Investment in the United States increased to 9600 USD Million in November of 2020 from -20100 USD Million in October of 2020. Foreign Bond Investment in the United States averaged 7938.47 USD Million from 1978 until 2020, reaching an all time high of 118012 USD Million in August of 2010 and a record low of -310791 USD Million in March of 2020. Foreign Bond Investment refers to net purchases of US treasury bonds and notes by foreign individuals or companies. Negative figures indicate net sales by foreigners to US residents or a net outflow of capital from the United States. . This page provides the latest reported value for - United States Net Purchases of US Treasury Bonds and Notes - 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/foreign-bond-investment

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United States Net Long-term Tic Flows

There was 149172 million of dollars worth of Treasury International Capital (TIC) flowing into the United States in November of 2020. Net Long Term Tic Flows in the United States averaged 24558.71 USD Million from 1978 until 2020, reaching an all time high of 157830 USD Million in September of 2014 and a record low of -134895 USD Million in April of 2020. The Net Long-Term TIC Flows track the flow of Treasury and agency securities, corporate bonds and equities, into and out of the United States. This page provides the latest reported value for - United States Net Long-term Tic Flows - 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/net-long-term-tic-flows

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United States Initial Jobless Claims

Initial Jobless Claims in the United States decreased to 779 thousand in the week ending January 30 of 2021 from 812 thousand in the previous week. Initial Jobless Claims in the United States averaged 371.99 Thousand from 1967 until 2021, reaching an all time high of 6867 Thousand in March of 2020 and a record low of 162 Thousand in November of 1968. Initial jobless claims have a big impact in financial markets because unlike continued claims data which measures the number of persons claiming unemployment benefits, Initial jobless claims measures new and emerging unemployment. This page provides the latest reported value for - United States Initial Jobless Claims - 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/jobless-claims

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Gold Tops $1,800 on US Senate Paving the Way for Biden’s $1.9 Trillion Stimulus Plan

Gold futures are looking to finish the trading week above $1,800 as the metals market could receive a push from the US Senate’s approval of a budget plan for President Joe Biden’s $1.9 trillion stimulus and relief package. Gold prices also benefited from the sour tone in the broader financial markets amid a disappointing January jobs report. With inflation concerns likely to dominate gold prices for the next couple of weeks, could the yellow metal retest $1,850?

April gold futures soared $16.30, or 0.91%, to $1,807.50 an ounce at 15:14 GMT on Friday on the COMEX division of the New York Mercantile Exchange. The yellow metal is on track for a weekly loss of about 2.2%, adding to its year-to-date decline of 5%.

Silver, the sister commodity to gold, continued its roller coaster of a week on Friday. March silver futures climbed $0.556, or 2.12%, to $26.795 per ounce. The white metal will settle the week down 0.94%, but it is still up 1% on the year.

On Friday, the US Senate paved the way for passing President Biden’s coronavirus stimulus and relief package after Vice President Kamala Harris gave the tie-breaking vote.

The marathon session consisted of 800 amendments that were drafted into the relief bill. Still, the legislation does include $1,400 in direct-income support payments, in addition to the $600 checks that lawmakers recently approved.

With nearly $2 trillion (and counting) added to the federal deficit, gold investors are worried about the inflationary ramifications. Plus, after the lackluster employment report, traders could be anticipating even more spending in the post-coronavirus recovery.

House Speaker Nancy Pelosi (D-NY) confirmed that this is “not the last bill we’ll pass. This is the rescue package.” She believes a separate “recovery” bill will be submitted later in the year.

We’re legislators. That’s why we’re here. That’s what we do, and so we’re always getting ready for the next legislation.

According to the Bureau of Labor Statistics (BLS), the US economy added only 49,000 new jobs in January, with the unemployment rate sliding to 6.3% as more Americans left the workforce. This was lower than the median estimate of 50,000. The much-anticipated January labor update came one day after initial jobless claims dropped to a nine-week low of 779,000.

Gold found additional support on a retreating greenback. The US Dollar Index (DXY), which measures the buck against a basket of currencies, slumped 0.43% to 91.13, from an opening of 91.49. The DXY is on track for a weekly surge of 0.6%. A lower buck is good for dollar-denominated commodities because it makes it cheaper for foreign investors to purchase.

In other metal commodities, March copper futures added $0.0315, 0.89%, to $3.5845 per pound. March platinum futures rallied $27.90, or 2.53%, to $1,130.90 an ounce. March palladium futures picked up $55.30, or 2.42%, to $2,336.00 an ounce.

If you have any questions and comments on commodities today, use the form below to reply.

 


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United States Average Hourly Wages

Wages in the United States increased to 25.18 USD/Hour in January from 25.15 USD/Hour in December of 2020. Wages in the United States averaged 11.62 USD/Hour from 1964 until 2021, reaching an all time high of 25.18 USD/Hour in January of 2021 and a record low of 2.50 USD/Hour in February of 1964. In the United States, wages are benchmarked using average hourly earnings. Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries. These groups account for approximately four-fifths of the total employment on private nonfarm payrolls. This page provides - United States Average Hourly Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/wages

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United States Average Hourly Wages in Manufacturing

Wages in Manufacturing in the United States decreased to 23.23 USD/Hour in January from 23.29 USD/Hour in December of 2020. Wages in Manufacturing in the United States averaged 9.70 USD/Hour from 1950 until 2021, reaching an all time high of 23.29 USD/Hour in December of 2020 and a record low of 1.27 USD/Hour in February of 1950. This page provides - United States Average Hourly Wages in Manufacturing - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/wages-in-manufacturing

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United States Youth Unemployment Rate

Youth Unemployment Rate in the United States decreased to 11.20 percent in January from 12.50 percent in December of 2020. Youth Unemployment Rate in the United States averaged 11.76 percent from 1948 until 2021, reaching an all time high of 27.40 percent in April of 2020 and a record low of 4.80 percent in May of 1951. This page provides - United States Youth Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/youth-unemployment-rate

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United States Long Term Unemployment Rate

Long Term Unemployment Rate in the United States increased to 2.51 percent in January from 2.46 percent in December of 2020. Long Term Unemployment Rate in the United States averaged 1 percent from 1948 until 2021, reaching an all time high of 4.40 percent in April of 2010 and a record low of 0.08 percent in May of 1953. Long Term Unemployment Rate in the United States refers to the unemployment rate for a period longer than 27 weeks. This page provides the latest reported value for - United States Long Term Unemployment Rate - 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/long-term-unemployment-rate

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Reasons Why Bitcoin Is Struggling to Break Above $38,000

Recently, the price of one bitcoin rebounded from its low of $32,400, recording a 15% rise to $37,200. Bitcoin has been moving in the low price range so far, but this move was an impressive rise that led to bullishness.

Regardless of the reasons behind the rally, many traders were expected to follow the trend. However, during the Bitcoin rally, many top traders opened short positions and prices fell again. Even if traders believe Bitcoin is unlikely to test the $42,000 record high, it should be risky to bet on a short because Ether has hit a record high of $1,700.

Due to expectations for Ethereum 2.0 and decentralized finance, it is possible that assets are being transferred from Bitcoin to Ether. However, Bitcoin and Ethereum tend to trade in tandem most of the time.

According to data from TheTie, a provider of alternative data for cryptocurrencies, the number of Google searches for the word “buy crypto” reached a record high. According to the company, crypto-related social media activity has increased by 135% in the last three months.

In addition to these bullish factors, payment giant Visa has announced a partnership in cryptocurrency trading with digital banks and others. Another bullish factor is the withdrawal of 15200 bitcoins from Coinbase, CryptoQuant analysts point out. The withdrawal indicates that institutional investors may have accumulated Bitcoin in their cold wallets.

On the other hand, these bullish factors are in contrast to the long/short ratio of exchanges. From this indicator, you can tell if a professional trader is bullish or bearish.

Exchange’s top traders BTC long-to-short ratio. Source: Bybt.com

From the chart above, we can see that pro traders on all exchanges have increased their short positions in the last three days.

Even if large investors, market makers, and arbitrage desks hold positions in cold wallets and grayscale Bitcoin investment trusts, the long-short ratio will allow BTC to break through $38,000 in the short term to reach the $40,000 level.

A more recent rise in Ether may have been caused by traders transferring assets from Bitcoin to Ether. This is not surprising given the upcoming listing of Ethereum futures on the Chicago Mercantile Exchange (CME) on February 8.

However, it’s hard to say that everyone has moved to a short position, as traders may have moved Bitcoin off the exchange in search of better yields.

If traders actually held short positions in Bitcoin, there would be signs in the derivatives market. To disprove this theory, today’s $1 billion options expiry is still in favor of the Bitcoin bulls with incentives to push the price above $40,000.

If you have any questions and comments on Bitcoin today, use the form below to reply.


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source https://www.earnforex.com/commodities/reasons-bitcoin-struggling-break-above-38000/

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Bitcoin Could Soar to $50,000, Bloomberg Analyst

Mike McGlone, a senior commodity strategist at Bloomberg, believes Bitcoin (BTC) will continue its bullish move towards $50,000 as investors move money from gold to digital assets.

“By 2024, Bitcoin’s volatility could reach the same level as gold, which could further push up prices”, McGlone said.

According to a report released on February 3, Bitcoin has the strong support of $30,000 and has the possibility of rallying over $50,000 due to increased interest of institutional investors and the potential of Bitcoin to become a global reserve asset.

The report gives evidence that funds are actually moving from gold to Bitcoin. It emphasizes that while the inflow of funds into the Grayscale Bitcoin Trust (GBTC) is accelerating, the gold holdings of existing ETFs are declining. Grayscale GBTC grew throughout 2020, rising from 1% to 10% of the $210 billion Gold Tracking ETF.

In a digital world, it’s logical to expect more money to flow towards Bitcoin and away from precious metals.

McGlone believes that investing up to 5% of your funds in Bitcoin is a wise decision as it will be as volatile as gold by 2024, the year of BTC’s next halving. The fixed supply of Bitcoin could be less volatile than gold, he said.

It would be naïve not to expect bumps in the road with the new technology, but unless human advancement, electrification and digitalization backpedal, Bitcoin is poised to eventually become a worthy substitute for gold in investment portfolios.

Bitcoin’s current 260-day volatility is 50%, which corresponds to the gold volatility of the 1980s.

Notably, McGlone also made mention Ethereum, the second-largest cryptocurrency by market capitalization. He points out that the $1000 mark is likely to be the support level for Ether.

At the time of writing, the ETH/USD pair is trading at $1,673. Meanwhile, at around 13:36 GMT, the premier cryptocurrency, Bitcoin was changing hands at the $37,898 level 0n Bitstamp.

Source: Tradingview

If you have any questions and comments on Bitcoin today, use the form below to reply.


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source https://www.earnforex.com/commodities/bitcoin-could-soar-to-50000-bloomberg-analyst/

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EIA's liquids pipeline database shows infrastructure changes and project statuses

In December, the U.S. Energy Information Administration (EIA) updated its Liquids Pipeline Projects Database of more than 240 future and historical liquids pipeline projects in the United States since 2010. These pipelines carry crude oil, hydrocarbon gas liquids (HGLs), and petroleum products (gasoline, diesel, jet fuel, and other refinery products).

source https://www.eia.gov/todayinenergy/detail.php?id=46657

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United States Imports

Imports in the United States increased to 256572 USD Million in December from 252756 USD Million in November of 2020. Imports in the United States averaged 75152.99 USD Million from 1950 until 2020, reaching an all time high of 266719 USD Million in October of 2018 and a record low of 577 USD Million in March of 1950. The United States is the world's second biggest importer. Main imports are: capital goods (22 percent) and consumer goods (21 percent). Others include: automotive vehicles, parts and engines (12 percent) and foods, feeds and beverages (5 percent). Shipments from China represent 21 percent of the total imports followed by Mexico (14 percent), Canada (13 percent), Japan (6 percent), and Germany (5 percent). This page provides the latest reported value for - United States Imports - 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/imports

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United States Labor Force Participation Rate

Labor Force Participation Rate in the United States decreased to 61.40 percent in January from 61.50 percent in December of 2020. Labor Force Participation Rate in the United States averaged 62.87 percent from 1948 until 2021, reaching an all time high of 67.30 percent in January of 2000 and a record low of 58.10 percent in December of 1954. The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over. This page provides the latest reported value for - United States Labor Force Participation Rate - 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/labor-force-participation-rate

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United States Unemployed Persons

The number of unemployed persons in The United States decreased to 10130 Thousand in January of 2021 from 10736 Thousand in December of 2020. Unemployed Persons in the United States averaged 6586.65 Thousand from 1948 until 2021, reaching an all time high of 23109 Thousand in April of 2020 and a record low of 1596 Thousand in May of 1953. In the United States, unemployed persons are individuals who are without a job and actively seeking to work. This page provides - United States Unemployed Persons - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/unemployed-persons

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United States Government Payrolls

Government Payrolls in the United States increased by 43 thousand in January of 2021. Government Payrolls in the United States averaged 17.77 Thousand from 1939 until 2021, reaching an all time high of 465 Thousand in August of 2020 and a record low of -952 Thousand in April of 2020. Government Payrolls reports the absolute change in the number of employees working in the Government sector in the United States. It includes Federal, State and Local governments. This page provides the latest reported value for - United States Government Payrolls - 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/government-payrolls

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United States Manufacturing Payrolls

Manufacturing Payrolls in the United States decreased by 10 thousand in January of 2021. Manufacturing Payrolls in the United States averaged 3.26 Thousand from 1939 until 2021, reaching an all time high of 655 Thousand in April of 1946 and a record low of -1715 Thousand in September of 1945. Manufacturing Payrolls reports the absolute change in the number of employees working in the Manufacturing sector in the United States. This page provides the latest reported value for - United States Manufacturing Payrolls - 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/manufacturing-payrolls

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United States Nonfarm Payrolls - Private

Nonfarm Payrolls Private in the United States increased by 6 thousand in January of 2021. Nonfarm Payrolls Private in the United States averaged 96.73 Thousand from 1939 until 2021, reaching an all time high of 4729 Thousand in June of 2020 and a record low of -19835 Thousand in April of 2020. Private Nonfarm Payrolls measures the change in the number of total payrolls in any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees. This page provides the latest reported value for - United States Nonfarm Payrolls - Private - 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/nonfarm-payrolls-private

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United States Unemployment Rate

Unemployment Rate in the United States remained unchanged at 6.70 percent in December from 6.70 percent in November of 2020. Unemployment Rate in the United States averaged 5.77 percent from 1948 until 2020, reaching an all time high of 14.80 percent in April of 2020 and a record low of 2.50 percent in May of 1953. In the United States, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides the latest reported value for - United States Unemployment Rate - 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/unemployment-rate

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United States Non Farm Payrolls

Non Farm Payrolls in the United States decreased by 140 thousand in December of 2020. Non Farm Payrolls in the United States averaged 114.65 Thousand from 1939 until 2020, reaching an all time high of 4781 Thousand in June of 2020 and a record low of -20787 Thousand in April of 2020. Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls. This page provides the latest reported value for - United States Non Farm Payrolls - 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/non-farm-payrolls

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Video: Silver Price Forecast as of 5 February 2021

In the present video, Phil Carr from The Gold and Silver Club talks about silver and gold as of February 5, 2021. He discusses the recent price moves, the reasons behind them, and how traders should have reacted to them. Phil also gives trade advice, suggesting against buying and holding but advising to take profit instead.

If you found this video useful and want to see more videos like this one or if you want to see a commodity trading video on some other topic, please leave your response using the form below.


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US Dollar LIBOR Three Month Rate

US Dollar LIBOR Three Month Rate was at 0.20 percent on Friday February 5. Interbank Rate in the United States averaged 3.63 percent from 1986 until 2021, reaching an all time high of 10.63 percent in March of 1989 and a record low of 0.19 percent in February of 2021. The three month US Dollar LIBOR interest rate is the average interest rate at which a LIBOR contributor bank can obtain unsecured funding in the London interbank market for a three month period in US dollars. This page provides - United States Interbank Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/interbank-rate

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20210204

United States Natural Gas Stocks Change

Working gas held in storage facilities in the United States decreased by 192 billion cubic feet in the week ending January 29 of 2021 . Natural Gas Stocks Change in the United States averaged 0.24 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

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United States Retirement Age - Men

Retirement Age Men in the United States remained unchanged at 66 in 2020 from 66 in 2019. In the United States, Social Security's full-benefit retirement age for men is 66 for people born in 1943-1954, and it will gradually rise to 67 for those born in 1960 or later. This page provides - United States Retirement Age Men - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/retirement-age-men

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United States Retirement Age - Women

Retirement Age Women in the United States remained unchanged at 66 in 2020 from 66 in 2019. In the United States, Social Security's full-benefit retirement age for women is 66 for people born in 1943-1954, and it will gradually rise to 67 for those born in 1960 or later. This page provides - United States Retirement Age Women - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/retirement-age-women

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United States Factory Orders Ex Transportation

Factory Orders Ex Transportation in the United States increased to 1.40 percent in December from 1.10 percent in November of 2020. Factory Orders Ex Transportation in the United States averaged 0.24 percent from 1992 until 2020, reaching an all time high of 4.80 percent in June of 2020 and a record low of -8.90 percent in April of 2020. Factory orders report is compiled from results of "Manufacturers’ Shipments, Inventories, and Orders (M3) survey" and shows the value of new factory orders for both durable (50% of total orders) and non-durable goods. The survey is usually released a week after durable goods orders report. Factory orders excluding transportation account for approximately 84 percent of total orders. This page provides - United States Factory Orders Ex Transportation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/factory-orders-ex-transportation

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United States Factory Orders

Factory Orders in the United States increased 1.10 percent in December of 2020 over the previous month. Factory Orders in the United States averaged 0.27 percent from 1991 until 2020, reaching an all time high of 10.30 percent in July of 2014 and a record low of -13.50 percent in April of 2020. Factory orders report is compiled from results of "Manufacturers’ Shipments, Inventories, and Orders (M3) survey" and shows the value of new factory orders for both durable (50% of total orders) and non-durable goods. The survey is usually released a week after durable goods orders report. . This page provides the latest reported value for - United States Factory Orders - 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/factory-orders

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United States Federal Government Budget

The United States recorded a Government Budget deficit equal to 4.60 percent of the country's Gross Domestic Product in 2019. Government Budget in the United States averaged -2.18 percent of GDP from 1948 until 2019, reaching an all time high of 4.50 percent of GDP in 1948 and a record low of -9.80 percent of GDP in 2009. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - United States Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/government-budget

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United States Gross Federal Debt to GDP

Government Debt to GDP in the United States increased to 107.60 percent in 2020 from 106.90 percent in 2019. Government Debt to GDP in the United States averaged 63.41 percent from 1940 until 2020, reaching an all time high of 118.90 percent in 1946 and a record low of 31.80 percent in 1981. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/government-debt-to-gdp

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United States Government Spending To GDP

Government Spending To GDP in the United States increased to 44 percent in 2020 from 35.68 percent in 2019. Government Spending To GDP in the United States averaged 37.20 percent from 1970 until 2020, reaching an all time high of 44 percent in 2020 and a record low of 33.40 percent in 1973. This page provides - United States Government Spending To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/government-spending-to-gdp

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United States Population

Population in the United States increased to 329.48 Million in 2020 from 328.33 Million in 2019. Looking back, in the year of 1900, the United States had a population of 76.1 million people. The population of the United States represents 4.52 percent of the world´s total population which arguably means that one person in every 22 people on the planet is a resident of United States. This page provides - United States Population - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/population

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United States Tourist Arrivals

Tourist Arrivals in the United States increased to 906682 in November from 747500 in October of 2020. Tourist Arrivals in the United States averaged 4589417.28 from 1996 until 2020, reaching an all time high of 8418370 in August of 2014 and a record low of 249143 in April of 2020. The US travel and tourism industry contributed nearly USD1.6 trillion to US economy in 2015 or 2.6 percent of its GDP. Travel and tourism exports accounted for 11 percent of all US exports and 33 percent of all US services exports, positioning travel and tourism as the nation's largest services export. This page provides - United States Tourist Arrivals- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/tourist-arrivals

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United States Tourism Revenues

Tourism Revenues in the United States increased to 5096 USD Million in November from 4470 USD Million in October of 2020. Tourism Revenues in the United States averaged 13945.52 USD Million from 1999 until 2020, reaching an all time high of 21327 USD Million in December of 2017 and a record low of 3871 USD Million in July of 2020. Travel and Tourism is the sum of all travel-related exports which include passenger fare receipts and payments, travel spending and medical, education workers spending. The US travel and tourism industry contributed nearly USD1.6 trillion to US economy in 2015 or 2.6 percent of its GDP. Travel and tourism exports accounted for 11 percent of all US exports and 33 percent of all US services exports, positioning travel and tourism as the nation's largest services export. This page provides - United States Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/tourism-revenues

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EIA's AEO2021 Reference case shows crude oil production plateauing after 2030

The U.S. Energy Information Administration's (EIA) Annual Energy Outlook 2021 Reference case, which assumes current laws and regulations through 2050, projects domestic crude oil production to return to 2019 levels by 2023 and then remain near 13 million to 14 million barrels per day (b/d) through 2050. The United States continues to be an integral part of global oil markets and a significant source of supply, despite uncertainty surrounding post-pandemic expectations for oil and natural gas demand.

source https://www.eia.gov/todayinenergy/detail.php?id=46656

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United States Pandemic Unemployment Assistance Claims

Pandemic Unemployment Assistance Claims in the United States decreased to 348.91 Thousand in January 30 from 403.59 Thousand in the previous week. Pandemic Unemployment Assistance Claims in the United States averaged 576.62 Thousand from 2020 until 2021, reaching an all time high of 1352.18 Thousand in May of 2020 and a record low of 31.95 Thousand in April of 2020. This page provides - United States Pandemic Unemployment Assistance Claims- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/pandemic-unemployment-assistance-claims

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United States Jobless Claims 4-week Average

Jobless Claims 4-week Average in the United States decreased to 848.25 Thousand in January 30 from 849.50 Thousand in the previous week. Jobless Claims 4-week Average in the United States averaged 371.85 Thousand from 1967 until 2021, reaching an all time high of 5790.25 Thousand in April of 2020 and a record low of 179 Thousand in May of 1969. This page provides - United States Jobless Claims 4-week Average- actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/jobless-claims-4-week-average

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United States Nonfarm Unit Labour Cost

Labour Costs in the United States decreased to 116.30 points in the fourth quarter of 2020 from 117.60 points in the third quarter of 2020. Labour Costs in the United States averaged 61.33 points from 1950 until 2020, reaching an all time high of 117.60 points in the third quarter of 2020 and a record low of 17 points in the first quarter of 1950. Labour Costs refers to the relationship between compensation per hour and labor productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers. This page provides the latest reported value for - United States Labour Costs - 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/labour-costs

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United States Nonfarm Labour Productivity

Productivity in the United States increased to 112.34 points in the third quarter of 2020 from 111.08 points in the second quarter of 2020. Productivity in the United States averaged 61.67 points from 1950 until 2020, reaching an all time high of 112.34 points in the third quarter of 2020 and a record low of 25.99 points in the first quarter of 1950. In the United States, the productivity of nonfarm workers is measured as the output of goods and services per hour worked. Labor productivity is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers. This page provides - United States Productivity - actual values, historical data, forecast, chart, statistics, economic calendar and news.

SOURCE: 🇺🇸 United States
https://tradingeconomics.com/united-states/productivity

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United States Wages and Salaries Growth

Wages in the United States increased 2.11 percent in October of 2020 over the same month in the previous year. Wage Growth in the United States averaged 6.11 percent from 1960 until 2020, reaching an all time high of 13.78 percent in January of 1979 and a record low of -6.64 percent in April of 2020. In the United States, wage growth refers to the yearly change in wages and salaries disbursements from government, manufacturing and service industries. . This page provides the latest reported value for - United States Wages and Salaries Growth - 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/wage-growth

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Bitcoin Will Be 100x More Expensive Than Gold – Bloomberg

Bloomberg analysts have found that the volatility of Bitcoin can increase the gap between the price of cryptocurrency and gold by hundreds of times. This was reported in Bloomberg’s monthly cryptocurrency report.

Such a scenario is possible if Bitcoin volatility moves within the framework of the formed model.

Source: bloomberg.com

Analysts noted that Bitcoin’s 260-day volatility against gold has hit a low. She was last at this level in early 2017. The chart shows the volatility as well as the value of Bitcoin in relation to gold.

“… if past volatility patterns repeat themselves, a 100-fold increase in Bitcoin’s value relative to gold could be the next key threshold,” Bloomberg said.

It’s worth noting that hitting a 260-day low in early 2017 triggered a year-long rally in Bitcoin.

Bitcoin at the beginning of the road

Such an impressive gap between Bitcoin and gold would mean the growth of the cryptocurrency to the level of ~ $184,000 (at a gold price of $1842 per ounce). However, Bloomberg did not name the time frame for reaching new highs. As a medium-term, Bitcoin needs to at least gain a foothold on the first target of $50,000, analysts say.

Bitcoin started February with a bullish consolidation. The support grew to $30,000 due to the increase in institutional implementation …

Related: Bitcoin Price May Reach $40,000 in 2021: Bloomberg Analyst Says

The instability of many altcoins, which, to a large extent, develop due to speculation, can play into the hands of Bitcoin, Bloomberg believes. The collapse of such digital currencies can strengthen the position of Bitcoin in the status of a reserve currency.

The great transfer of wealth

Analysts say the leading cryptocurrency is currently being driven by the idea of digital gold. At the same time, according to Bloomberg experts, there is enough evidence that institutional money is actively being withdrawn from the gold market in favor of Bitcoin.

Pink line — ETF savings in gold. White — Grayscale Bitcoin Trust. Source: bloomberg.com

The graph above shows how Grayscale’s Bitcoin Trust (GBTC) is actively increasing its reserves. At the same time, stocks of assets of exchange-traded funds (ETFs) in gold are shrinking.

However, this is not the first time that Bloomberg has named large numbers for the future price of Bitcoin. In November 2020, Bloomberg analyst Mike McGlone said that Bitcoin price could “add zero” in the future. At the time of writing, the price of one bitcoin is $37,386, up 4.38% in the last 24 hours.

If you have any questions and comments on Bitcoin today, use the form below to reply.


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source https://www.earnforex.com/commodities/bitcoin-will-be-100x-more-expensive-than-gold-bloomberg/

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