20210327

United States Imports of Consumption of Steel Products


Imports of Steel Products in the United States decreased to 1624378 USD THO in February from 1647652 USD THO in January of 2021. Imports of Steel Products in the United States averaged 1954599.07 USD THO from 1997 until 2021, reaching an all time high of 4054735 USD THO in October of 2008 and a record low of 778677 USD THO in May of 2002. This page includes a chart with historical data for the United States Imports of For Consumption of Steel Products.
Source | 🇺🇸 United States : Chart

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United States Imports of Consumption of Alloy Steel Products


Imports of Alloy Steel Products in the United States decreased to 352184 USD THO in February from 382566 USD THO in January of 2021. Imports of Alloy Steel Products in the United States averaged 417529.17 USD THO from 2000 until 2021, reaching an all time high of 840889 USD THO in May of 2012 and a record low of 143296 USD THO in May of 2002. This page includes a chart with historical data for the United States Imports of For Consumption of Alloy Steel Products.
Source | 🇺🇸 United States : Chart

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United States Imports of Consumption of Carbon Steel Produc


Imports of Carbon Steel Produc in the United States decreased to 1035779 USD THO in February from 1111276 USD THO in January of 2021. Imports of Carbon Steel Produc in the United States averaged 1334478.36 USD THO from 2000 until 2021, reaching an all time high of 2864757 USD THO in October of 2008 and a record low of 502731 USD THO in May of 2002. This page includes a chart with historical data for the United States Imports of For Consumption of Carbon Steel Produc.
Source | 🇺🇸 United States : Chart

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United States Imports For Consumption Of Stainless Steel Products


Imports For Consumption Of Stainless Steel Products in the United States increased to 236415 USD THO in February from 153810 USD THO in January of 2021. Imports For Consumption Of Stainless Steel Product in the United States averaged 272716.85 USD THO from 2000 until 2021, reaching an all time high of 617797 USD THO in June of 2007 and a record low of 101624 USD THO in September of 2001. This page includes a chart with historical data for the United States Imports of For Consumption of Stainless Steel Pro.
Source | 🇺🇸 United States : Chart

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United States Overnight Repo Rate


United States Overnight Repo Rate was at 0.05 on Friday March 26. Repo Rate in the United States averaged 2.29 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 : Chart

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United States Steel Production


Steel Production in the United States decreased to 6300 Thousand Tonnes in February from 6900 Thousand Tonnes in January of 2021. Steel Production in the United States averaged 7855.36 Thousand Tonnes from 1969 until 2021, reaching an all time high of 11951 Thousand Tonnes in May of 1973 and a record low of 3799 Thousand Tonnes in April of 2009. This page has Steel Production values for United States.
Source | 🇺🇸 United States : Chart

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United States GDP From Agriculture Forestry Fishing and Hunting


GDP From Agriculture in the United States increased to 266.20 USD Billion in the fourth quarter of 2020 from 262.50 USD Billion in the third quarter of 2020. GDP From Agriculture in the United States averaged 211.07 USD Billion from 2005 until 2020, reaching an all time high of 266.20 USD Billion in the fourth quarter of 2020 and a record low of 168.40 USD Billion in the third quarter of 2007. This page provides - United States Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Construction


GDP From Construction in the United States increased to 673 USD Billion in the fourth quarter of 2020 from 654.30 USD Billion in the third quarter of 2020. GDP From Construction in the United States averaged 636.95 USD Billion from 2005 until 2020, reaching an all time high of 794.50 USD Billion in the first quarter of 2005 and a record low of 531.70 USD Billion in the first quarter of 2011. This page provides - United States Gdp From Construction- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Manufacturing


GDP From Manufacturing in the United States increased to 2234.40 USD Billion in the fourth quarter of 2020 from 2213.20 USD Billion in the third quarter of 2020. GDP From Manufacturing in the United States averaged 2019.25 USD Billion from 2005 until 2020, reaching an all time high of 2236.40 USD Billion in the fourth quarter of 2019 and a record low of 1798.60 USD Billion in the first quarter of 2009. This page provides - United States Gdp From Manufacturing- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Mining


GDP From Mining in the United States increased to 428.50 USD Billion in the fourth quarter of 2020 from 421.80 USD Billion in the third quarter of 2020. GDP From Mining in the United States averaged 375.50 USD Billion from 2005 until 2020, reaching an all time high of 513.30 USD Billion in the third quarter of 2019 and a record low of 241.80 USD Billion in the fourth quarter of 2005. This page provides - United States Gdp From Mining- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Government


GDP From Public Administration in the United States decreased to 2179.80 USD Billion in the fourth quarter of 2020 from 2185.70 USD Billion in the third quarter of 2020. GDP From Public Administration in the United States averaged 2161.53 USD Billion from 2005 until 2020, reaching an all time high of 2247.10 USD Billion in the fourth quarter of 2019 and a record low of 2089.50 USD Billion in the first quarter of 2005. This page provides - United States Gdp From Government- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Private Services Producing Industries


GDP From Services in the United States increased to 12925.10 USD Billion in the fourth quarter of 2020 from 12772.10 USD Billion in the third quarter of 2020. GDP From Services in the United States averaged 11318.17 USD Billion from 2005 until 2020, reaching an all time high of 13300.60 USD Billion in the fourth quarter of 2019 and a record low of 9734.70 USD Billion in the first quarter of 2005. This page provides - United States Gdp From Private Services Producing Industries- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Transportation and Warehousing


GDP From Transport in the United States increased to 501.80 USD Billion in the fourth quarter of 2020 from 497.80 USD Billion in the third quarter of 2020. GDP From Transport in the United States averaged 491.95 USD Billion from 2005 until 2020, reaching an all time high of 584.50 USD Billion in the fourth quarter of 2019 and a record low of 429.60 USD Billion in the first quarter of 2005. This page provides - United States Gdp From Transportation and Warehousing- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States GDP From Utilities


GDP From Utilities in the United States decreased to 289.30 USD Billion in the fourth quarter of 2020 from 296.30 USD Billion in the third quarter of 2020. GDP From Utilities in the United States averaged 264.45 USD Billion from 2005 until 2020, reaching an all time high of 302.40 USD Billion in the first quarter of 2020 and a record low of 217.20 USD Billion in the second quarter of 2005. This page provides - United States Gdp From Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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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 : Chart

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United States Foreign Direct Investment


Foreign Direct Investment in the United States increased by 45262 USD Million in the fourth quarter of 2020. Foreign Direct Investment in the United States averaged 26767.32 USD Million from 1994 until 2020, reaching an all time high of 55831 USD Million in the second quarter of 2018 and a record low of -9988 USD Million in the fourth quarter of 2001. Foreign Direct Investment In the United States refers to income position without current-cost adjustment. This page provides - United States Foreign Direct Investment - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Money Supply M0


Money Supply M0 in the United States increased to 5446900 USD Million in February from 5247900 USD Million in January of 2021. Money Supply M0 in the United States averaged 882641.33 USD Million from 1959 until 2021, reaching an all time high of 5446900 USD Million in February of 2021 and a record low of 48362 USD Million in March of 1961. The United States Money Supply M0 is the most liquid measure of the money supply including coins and notes in circulation and other assets that are easily convertible into cash. Money Supply M0 and M1, are also known as narrow money. This page provides - United States Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Foreign Exchange Reserves


Foreign Exchange Reserves in the United States decreased to 143407 USD Million in February from 144009 USD Million in January of 2021. Foreign Exchange Reserves in the United States averaged 59123.70 USD Million from 1957 until 2021, reaching an all time high of 153075 USD Million in September of 2012 and a record low of 12128 USD Million in August of 1971. In the United States, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans. This page provides - United States Foreign Exchange Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Money Supply M1


Money Supply M1 in the United States increased to 18411.90 USD Billion in February from 6750.90 USD Billion in January of 2021. Money Supply M1 in the United States averaged 1127.29 USD Billion from 1959 until 2021, reaching an all time high of 18411.90 USD Billion in February of 2021 and a record low of 138.90 USD Billion in January of 1959. This page provides - United States Money Supply M1 - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Money Supply M2


Money Supply M2 in the United States increased to 19669.80 USD Billion in February from 19395.30 USD Billion in January of 2021. Money Supply M2 in the United States averaged 4460.70 USD Billion from 1959 until 2021, reaching an all time high of 19669.80 USD Billion in February of 2021 and a record low of 286.60 USD Billion in January of 1959. The United States Money Supply M2 includes M1 plus short-term time deposits in banks. This page provides - United States Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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20210326

Gross Domestic Product by State, 4th Quarter and Year 2020 (Preliminary)

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the fourth quarter of 2020, as real GDP for the nation increased at an annual rate of 4.3 percent. The percent change in real GDP in the fourth quarter ranged from 9.9 percent in South Dakota to 1.2 percent in the District of Columbia. Full Text

source https://www.bea.gov/news/2021/gross-domestic-product-state-4th-quarter-2020-and-annual-2020-preliminary

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Personal Income and Outlays, February 2021

Personal income decreased $1,516.6 billion, or 7.1 percent at a monthly rate, while consumer spending decreased $149.0 billion, or 1.0 percent, in February. Economic impact payments associated with the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act of 2021 (which was enacted on December 27, 2020) declined sharply in February and unemployment benefits continued, but at a lower level. In addition to presenting estimates for February 2021, these highlights provide comparisons to February 2020, the last month before the onset of the COVID-19 pandemic in the United States. Full Text

source https://www.bea.gov/news/2021/personal-income-and-outlays-february-2021

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United States Wages and Salaries Growth


Wages in the United States decreased 0.01 percent in February of 2021 over the same month in the previous year. Wage Growth in the United States averaged 6.08 percent from 1960 until 2021, 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 : Chart

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United States Personal Savings Rate


Household Saving Rate in the United States decreased to 13.60 percent in February from 19.80 percent in January of 2021. Personal Savings in the United States averaged 8.96 percent from 1959 until 2021, reaching an all time high of 33.70 percent in April of 2020 and a record low of 2.20 percent in July of 2005. In the United States, Personal Saving Rate correspond to the ratio of personal income saved to personal net disposable income during a certain period of time. This page provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Wholesale Inventories


Wholesale Inventories in the United States increased 0.50 percent in February of 2021 over the previous month. Wholesale Inventories in the United States averaged 0.36 percent from 1992 until 2021, reaching an all time high of 2.10 percent in May of 2011 and a record low of -2 percent in March of 2009. The Wholesale Inventories are the stock of unsold goods held by wholesalers. Inventories are a key component of gross domestic product changes. A high inventory points to economic slowdown in the US, while a low reading points to a stronger growth. This page provides - United States Wholesale Inventories - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Personal Consumption Expenditure Price Index


Pce Price Index in the United States increased to 112.74 points in February from 112.48 points in January of 2021. Pce Price Index in the United States averaged 59.75 points from 1959 until 2021, reaching an all time high of 112.74 points in February of 2021 and a record low of 16.07 points in January of 1959. In the United States, the Personal Consumption Expenditure Price Index provides a measure of the prices paid for domestic purchases of goods and services. While the Consumer Price Index assumes a fixed basket of goods and uses expenditure weights that do not change over time for several years, the Personal Consumption Expenditure Price Index uses a chain index and resorts on expenditure data from the current period and the preceding period (known as Fisher Price Index). This page provides the latest reported value for - United States Personal Consumption Expenditure Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Personal Income


Personal Income in the United States decreased 7.10 percent in February of 2021 over the previous month. Personal Income in the United States averaged 0.53 percent from 1959 until 2021, reaching an all time high of 12.40 percent in April of 2020 and a record low of -7.10 percent in February of 2021. Personal Income refers to the income that persons receive in return for their provision of labor, land, and capital used in current production, plus current transfer receipts less contributions for government social insurance. This page provides the latest reported value for - United States Personal Income - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Personal Spending


Personal Spending in the United States decreased 1 percent in February of 2021 over the previous month. Personal Spending in the United States averaged 0.53 percent from 1959 until 2021, reaching an all time high of 8.70 percent in May of 2020 and a record low of -12.70 percent in April of 2020. Personal consumption expenditures (PCE) is the primary measure of consumer spending on goods and services in the U.S. economy. 1 It accounts for about two-thirds of domestic final spending, and thus it is the primary engine that drives future economic growth. PCE shows how much of the income earned by households is being spent on current consumption as opposed to how much is being saved for future consumption. PCE also provides a comprehensive measure of types of goods and services that are purchased by households. Thus, for example, it shows the portion of spending that is accounted for by discretionary items, such as motor vehicles, or the adjustments that consumers make to changes in prices, such as a sharp run-up in gasoline prices. This page provides the latest reported value for - United States Personal Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Goods Trade Balance


Goods Trade Balance in the United States decreased to -86720 USD Million in February from -84580 USD Million in January of 2021. Goods Trade Balance in the United States averaged -21843.44 USD Million from 1955 until 2021, reaching an all time high of 1492.20 USD Million in June of 1975 and a record low of -86720 USD Million in February of 2021. In the US, goods trade balance is equal to goods exports less goods imports. This page provides - United States Goods Trade Balance- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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US Dollar LIBOR Three Month Rate


US Dollar LIBOR Three Month Rate was at 0.20 percent on Friday March 26. Interbank Rate in the United States averaged 3.62 percent from 1986 until 2021, reaching an all time high of 10.63 percent in March of 1989 and a record low of 0.18 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 : Chart

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20210325

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#PyndanEX Bitcoin Blindsided by Ban Warning from Dalio, BTC Near Key Support



BTC posed an aggressive pullback after Ray Dalio mentioned the elephant in the room. But Bitcoin bulls are nearing a big test at the 50k marker.
SOURCE: DAILYFX
Priceages Magazine

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United States Kansas Fed Manufacturing Index


Kansas Fed Manufacturing Index in the United States decreased to 23 points in March from 26 points in February of 2021. Kansas Fed Manufacturing Index in the United States averaged 7.80 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 Index- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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Natural Gas Rallies on Larger-than-Expected US Supply Withdrawal

Natural gas futures are rallying on Thursday after the US government reported a much larger-than-expected supply withdrawal. The energy commodity has been enjoying small gains over the last week, with bulls beginning to build their positions ahead of the much-anticipated summer demand. Can natural gas sustain the momentum? Or will investors sell the mini-rally?

April natural gas futures surged $0.031, or 1.21%, to $2.589 per million British thermal units (btu) at 14:40 GMT on Thursday on the New York Mercantile Exchange. Natural gas is on track for a weekly gain of 2%, bringing its year-to-date gain of more than 1%.

According to the US Energy Information Administration (EIA), domestic inventories of natural gas declined by 36 billion cubic feet for the week ending March 19. This beats the median estimate of -25 billion cubic feet and is also a larger supply withdrawal than last week’s 11 billion cubic feet.

In total, US supplies stand at 1.746 trillion cubic feet, down 263 billion cubic feet from last year. They are also 78 billion cubic feet below the five-year average.

Natural gas prices had been recording tepid gains in recent sessions, buoyed by strengthening demand for liquefied natural gas (LNG) and declining supplies.

Europe has witnessed its LNG inventories decline, forcing nations to increase their appetite for US shipments of the energy commodity. Since spring maintenance work could impact LNG stocks in the coming weeks, this could offer support for natural gas prices over the next month.

Investors are ditching weather-driven trading patterns. The recent models suggest that mild weather will be prevalent across most of the US in the coming weeks. However, there could be upward movement on chilly rains and bouts of frigid temperatures over the next two weeks.

For now, the natural gas market will rely on the supply and demand fundamentals.

In other industry news, Saudi Arabia’s state-owned Saudi Aramco recorded the largest single-day production of natural gas in the nation’s history, with 10.7 billion cubic feet per day. Over the last couple of years, Riyadh has been attempting to become a major player in the natural gas market since most of the world is transitioning to the so-called bridge fuel.

In other energy commodities, April West Texas Intermediate (WTI) crude oil futures tumbled $2.14, or 3.5%, to $59.04 per barrel. May Brent crude futures declined $1.92, or 2.99%, to $62.33 a barrel. April gasoline futures dropped $0.0464, or 2.33%, to $1.9411 per gallon. April heating oil futures plunged $0.0508, or 2.78%, to $1.7757 a gallon.

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


© AndrewMoran for Commodity News, 2021. | Permalink | No comment |
Published under: Natural Gas

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United States Natural Gas Stocks Change


Working gas held in storage facilities in the United States decreased by 36 billion cubic feet in the week ending March 19 of 2021 . Natural Gas Stocks Change in the United States averaged -0.42 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 : Chart

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Bitcoin Price Takes a Massive Hit, Pushes Market Cap Below $1 Trillion

After enjoying a good run in the second week of March, Bitcoin price has taken a massive hit this week as the price continues to bleed.

Yesterday, there seemed to be some relief after the price touched $57,230. The price soon melted. At 12:58 GMT on Thursday, the price was trading at $51,528, a loss of almost 10% in the last 24 hours.

As the digital asset corrects, investors have not taking this lightly. Many have resorted to taking profit. Cumulatively, BTC investors have pulled out close to $145 billion. This exit has caused the market capitalization of the king cryptocurrency to fall below $1 trillion.

Recall that Bitcoin first cleared the $1 trillion market cap level earlier this year. It went on to surpass this level in the third week of February 2021. Soon after, the coin dropped in Market value less than a week later. The benchmark cryptocurrency retested a $1 trillion market cap figure in the second week of  March. Until now, the coin has remained on this level.

According to CoinGecko, the BTC market capitalization is currently $980 billion, having dropped $140 billion over the past seven days since last Thursday, March 18.

Just a few days ago, analyst Willy Woo predicted this fall in market cap. He mentioned on Twitter:

$1T is already strongly supported by investors. I’d say there’s a fair chance we’ll never see Bitcoin below $1T again.

It’s suggested that the reason behind this correction is retailers and institutional investors taking profit after Bitcoin hit its new record high. As per analyst Josh Rager:

Unrealized profits aren’t realized until they’re in the bank.

He continued to note that firms and investors will all end up taking profit, even if they have suggested otherwise in the past. Pointing towards MicroStrategy’s CEO Michael Saylor, he added that they will sell high and buy low. A strategy popular among traders used to maximise profits. He added:

Don’t try to act like Saylor won’t take profits eventually, cause he will along with every other fund on the planet. Then they’ll buy back lower.

Analysts see $46,000 as an imminent price

Bitcoin bulls are expected to prepare for shock as technical indicators show that Bitcoin will slump to $46,000 soon.

Market analyst Jonny Moe, the BTC/USD exchange rate risks declining to the said level as it declines below the price floors of two classic technical patterns: Double Top and Descending Triangle.

The point of trendlines convergence sits inside the $50,000–51,000 area. Bitcoin expects to fall inside it before it attempts a bullish breakout. Any fall below this $50k area, will take the coin straight to $46,000.

Additionally, analyst Vince Prince explained that pioneer cryptocurrency could be heading toward the point at which the Wedge’s upper and lower trendlines converge.

vince chart

Prince added that this does not mean that Bitcoin is completely bearish. He said:

Now, this does not mean Bitcoin is completely bearish. It will be important on how the cryptocurrency approaches the lower supports and how it manages a potential bounce from there. When this bounce can sustain strong enough, it can lead to further stabilization and also a potential reversal.

The BTC/USD chart still shows a bullish outlook is consistent with the coin price witnessing higher lows and higher highs. Meaning in a few days, as March closes, we will be able to say where the price is headed.

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


© IbrahimAnifowoshe for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin, Forecasts, Technical Analysis

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Bitcoin’s Market Capitalization Drops Below $1 Trillion

With the crypto market starting another day in the red, Bitcoin’s market cap again fell below $1 trillion.

The third major correction of the current bull market is deepening. After reaching an all-time high of $61,683 on March 13, Bitcoin lost nearly 14% in value and is trading at $53,100 as of the time of writing.

According to CoinMarketCap data, the market value of BTC has also decreased by $83 billion in the seven days since March 18, and it has declined to $996 billion as of the time of press.

Analyst Willy Woo had said just a few days ago that there is a high probability that the BTC market cap will never drop below $1 trillion again.

$1 trillion is strongly supported by investors. It seems likely that Bitcoin’s market cap will never fall below $1 trillion again.

The market value of BTC, which exceeded $1 trillion for the first time on February 19, could not hold this level for a long time and fell below $1 trillion after four days. Bitcoin, which reached the trillion-dollar level again on March 9, has managed to hold on to this level so far.

The total market value of cryptocurrencies has also declined by about 9.5% since March 22, to $1.66 trillion.

Analyst Josh Rager suggested that one of the biggest factors behind this decline could be profit-taking.

Mentioning MicroStrategy CEO Michael Saylor, whose company has bought a large amount of Bitcoin in recent months, Rager said:

Don’t try to pretend that Saylor is not going to take profit in the end, he will get profits like all other funds on the planet. They will buy back at the lower price.

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


© MarkStevenson for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin

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Gross Domestic Product, (Third Estimate), GDP by Industry, and Corporate Profits, 4th Quarter and Year 2020

Real gross domestic product (GDP) increased at an annual rate of 4.3 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. The increase was 0.2 percentage point higher than the "second" estimate released in February. In the third quarter, real GDP increased 33.4 percent. Profits decreased 1.4 percent at a quarterly rate in the fourth quarter after increasing 27.4 percent in the third quarter. Corporate profits decreased 0.7 percent in the fourth quarter from one year ago. Private goods-producing industries increased 6.1 percent, private services-producing industries increased 4.9 percent, and government decreased 1.1 percent. Overall, 17 of 22 industry groups contributed to the fourth-quarter increase in real GDP. Full Text

source https://www.bea.gov/news/2021/gross-domestic-product-third-estimate-gdp-industry-and-corporate-profits-4th-quarter-and

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United States Pandemic Unemployment Assistance Claims


Pandemic Unemployment Assistance Claims in the United States decreased to 241.75 Thousand in March 20 from 284.25 Thousand in the previous week. Pandemic Unemployment Assistance Claims in the United States averaged 551.11 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 : Chart

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United States Gross Fixed Capital Formation


Gross Fixed Capital Formation in the United States increased to 3458.90 USD Billion in the fourth quarter of 2020 from 3314.73 USD Billion in the third quarter of 2020. Gross Fixed Capital Formation in the United States averaged 2456.83 USD Billion from 1995 until 2020, reaching an all time high of 3458.90 USD Billion in the fourth quarter of 2020 and a record low of 1215.60 USD Billion in the second quarter of 1995. This page provides the latest reported value for - United States Gross Fixed Capital Formation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Government Spending


Government Spending in the United States decreased to 3320.40 USD Billion in the fourth quarter of 2020 from 3327.20 USD Billion in the third quarter of 2020. Government Spending in the United States averaged 2090.93 USD Billion from 1950 until 2020, reaching an all time high of 3368.73 USD Billion in the second quarter of 2020 and a record low of 599.63 USD Billion in the first quarter of 1950. Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth. This page provides the latest reported value for - United States Government Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Gross National Product


Gross National Product in the United States increased to 18984.50 USD Billion in the fourth quarter of 2020 from 18788.59 USD Billion in the third quarter of 2020. Gross National Product in the United States averaged 9182.85 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 : Chart

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United States GDP Deflator


GDP Deflator in the United States increased to 114.40 points in the fourth quarter of 2020 from 113.84 points in the third quarter of 2020. GDP Deflator in the United States averaged 54.58 points from 1950 until 2020, reaching an all time high of 114.40 points in the fourth quarter of 2020 and a record low of 12.85 points in the first quarter of 1950. The GDP Deflator measures the change in prices of final goods and services and it is considered as a key indicator for inflationary pressures, that provides insight into the future direction of monetary policy. This page provides the latest reported value for - United States GDP Deflator - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States GDP Constant Prices


GDP Constant Prices in the United States increased to 18794.40 USD Billion in the fourth quarter of 2020 from 18596.50 USD Billion in the third quarter of 2020. GDP Constant Prices in the United States averaged 9102.26 USD Billion from 1950 until 2020, reaching an all time high of 19253.96 USD Billion in the fourth quarter of 2019 and a record low of 2184.87 USD Billion in the first quarter of 1950. This page provides - United States GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Jobless Claims 4-week Average


Jobless Claims 4-week Average in the United States decreased to 736 Thousand in March 20 from 749 Thousand in the previous week. Jobless Claims 4-week Average in the United States averaged 372.87 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 : Chart

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United States GDP Growth Rate


The Gross Domestic Product (GDP) in the United States expanded 4.30 percent in the fourth quarter of 2020 over the previous quarter. GDP Growth Rate in the United States averaged 3.17 percent from 1947 until 2020, reaching an all time high of 33.40 percent in the third quarter of 2020 and a record low of -31.40 percent in the second quarter of 2020. On the expenditure side, personal consumption expenditures accounts for 68 percent of total GDP out of which purchases of goods constitute 23 percent and services 45 percent. Private investment accounts for 16 percent of GDP and government consumption and investment for 18 percent. As the value of goods exported (13.5 percent) is lower than the value of goods imported (16.5 percent), net exports subtracts 3 percent from the total GDP value. This page provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Initial Jobless Claims


Initial Jobless Claims in the United States increased to 770 thousand in the week ending March 13 of 2021 from 725 thousand in the previous week. Initial Jobless Claims in the United States averaged 372.85 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 : Chart

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US Dollar LIBOR Three Month Rate


US Dollar LIBOR Three Month Rate was at 0.20 percent on Thursday March 25. Interbank Rate in the United States averaged 3.62 percent from 1986 until 2021, reaching an all time high of 10.63 percent in March of 1989 and a record low of 0.18 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 : Chart

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20210324

New Report Says Bitcoin Price Can Easily Reach $100,000

Bitcoin (BTC) should not have a problem reaching $100,000 in the current bull market, thanks to the impressive behavior of hodlers.

Analysts from trading suite Decentrader, including filbfilb, tried to allay the fears of investors that the Bitcoin bull market is running out of steam.

HODL Waves give positive signs

The positive view of analysts is backed by data showing that more and more investors are making long-term BTC investments.

The “HODL Waves” indicator reveals that investors are not interested in selling Bitcoin at the current price level.

Decentrader summarized that the ” HODL Waves data for more than a year shows that Bitcoin can easily reach $100,000 in this bullish cycle.”

The higher the amount of BTC saved for a year or more of investment, the less liquid supply and potential selling pressure will be. If 50% or more of the Bitcoin supply is accumulated, the bull market generally continues.

HODL Waves tracks the current Bitcoin supply based on when they were last traded. According to the indicator, those who bought BTC in the 2017 bull market have largely held their positions despite making substantial profits.

Bitcoin HODL Waves chart. Source: Unchained Capital

Exchanges reserves continue to decrease

Currently, approximately 36% of the circulating Bitcoin supply is made up of “younger” cryptocurrencies that have been moved in the past six months.

On the other hand, exchange data reveals that Bitcoin reserves have continued to decrease in March.

Bitcoin reserves of exchanges and BTC/USD. Source: Tradingview

Even miners appear to increasingly prefer to hold their BTC rewards, according to the figures from on-chain analytics service Glassnode. The data shows that net miner positions have turned positive for the first time this month.

Commenting on this behavior, the CEO of MicroStrategy Michael Saylor said:

Tesla CEO Elon Musk recently announced that the company will start accepting Bitcoin payments and that the bitcoins obtained will be retained and not converted into fiat currency.

According to Bitcointreasuries.org data, Tesla currently holds an estimated 48,000 bitcoins.

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


© MarkStevenson for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin

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Analysts Predict Bitcoin’s Price at $80,000 by April As Tesla Allows BTC Payment

As Bitcoin price continues to trade at the mid-$50,000, indicators are turning more bullish. At 18:23 GMT on Wednesday, Bitcoin was exchanging hands at $55,696, up 0.57% over the last 24 hours.

Despite the strained movement of the coin as it barely holds above its support level, Glassnode co-founders, Yann Allemann and Jan Happen have shared data from the analytics firm that shows that Bitcoin could be poised for a big upside move soon. This is due to the expiration of $6 billion in options contracts set to mature by this Friday. The duo said: 

Bitcoin price expectations for April are high with lots of investors placing their new bets on $80k.

bitcoin price forecasts

The above chart shows that many investors on the Deribit’s platform are confident that the cryptocurrency’s price will settle at those levels. Also, there is also a high volume of calls for a Bitcoin price at $120,000 for the same date, April 30.

In support of the bull case, Glassnode’s Reserve Risk metrics indicate “strong long-term holder conviction” in the current price. There is big support that the price of Bitcoin will take a big jump.

Elon Musk and Tesla support the bull case

Earlier today,  Elon Musk announced that Tesla cars can now be purchased using BTC. The green car company’s CEO said the company would operate Bitcoin nodes directly. He also made clear that the company would hold to the Bitcoin it accumulates without converting it to fiat.

Tesla first signaled its intention to enter the BTC space when it purchased $1.5 billion worth of Bitcoin in early February. However, for now, the option to purchase a Tesla with the king cryptocurrency will only be extended to US-based customers. Visitors to Tesla’s website from a US-based IP address will now see a new Bitcoin payment widget added to the site’s checkout options. The impact of Tesla’s acceptance of Bitcoin may have been felt on the cryptocurrency market early on Wednesday.

The Technoking noted: 

Tesla is using only internal & open-source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.

The move to not convert the Bitcoin made through car sales to fiat is a strong indication that the company is not just utilizing Bitcoin as a transactional medium, but also as an investment tool.

Analyst William Clemente believes Musk’s announcement strategically coincides with the $6 billion of options set to expire in a few days. Over the coming days, many investors will see their contracts expire worthlessly and on platforms that back their options with physical Bitcoin. Clemente said:

It is worth mentioning that some of these puts are just hedging downside risk, more so referring to positions solely on the short end of the trade that don’t get rolled over.

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


© IbrahimAnifowoshe for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin, Forecasts

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Bitcoin Recovers Above $56,000 as Tesla Adds BTC Payment Option

Bitcoin (BTC) rose above $56,000 with the sight of a new “Elon candle” on March 24.

According to data from Tradingview, the BTC/USD pair gained 4% on Wednesday after Tesla announced that it would accept Bitcoin payments.

Earlier, after the company announced last month that it had invested in Bitcoin, the price of the premier cryptocurrency rallied. Using that as a yardstick, analysts are now wondering whether Tesla will start a new phase in the Bitcoin bull market, or whether the rally will be limited to a short time.

Popular Twitter account Rekt Capital said support level lay at $53,000 while resistance is at $58,000.

“Bitcoin is currently rallying towards the red area, forming a bullish Morning Star candlestick formation from the blue support area,” Rekt Capital posted in a post showing two critical levels.

1-day candlestick chart (Coinbase) showing support and resistance of the BTC/USD pair. Source: Rekt Capital / Twitter

Rekt Capital previously argued that despite the recent BTC price drop, it was too early to classify Bitcoin as forming a falling wedge pattern.

Meanwhile, Simon Peters, crypto-asset analyst at investment platform eToro said “Tesla’s decision to both accept Bitcoin payments and keep the revenue from these payments in Bitcoin will give cryptocurrency a new momentum.”

At the time of writing, Bitcoin is trading above $55,000 and it’s market capitalization has risen to $ 1.03 trillion.

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


© MarkStevenson for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin

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#PyndanEX US Dollar to Four-Month-Highs: EUR/USD, USD/CAD



The US Dollar has set a fresh four-month-high, even with rates softening as the Fed has sought to soothe some nerves over the past few days.
SOURCE: DAILYFX
Priceages Magazine

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#PyndanEX US Dollar to Four-Month-Highs: EUR/USD, USD/CAD



The US Dollar has set a fresh four-month-high, even with rates softening as the Fed has sought to soothe some nerves over the past few days.
SOURCE: DAILYFX
Priceages Magazine

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Crude Oil Prices Rebound amid Traffic Jam in Suez Canal, Supply Build

Crude oil futures are bouncing back from their descent into correction territory. Brent and US crude prices have rebounded on the buildup of traffic in the Suez Canal, while investors are also combing through the US government’s weekly supply report. Is the end of the pullback, or is there still some correction to unfold?

April West Texas Intermediate (WTI) crude future surged $1.97, or 3.41%, to $59.73 per barrel at 14:54 GMT on Wednesday on the New York Mercantile Exchange. Despite a wave of recent weakness, US crude prices have risen 24% year-to-date.

Brent, the international benchmark for oil prices, tested $63 in intraday trading. May Brent crude futures soared $2.08, or 3.42%, to $62.94 a barrel on London’s ICE Futures exchange. Brent is also up about 22% so far this year.

According to the US Energy Information Administration (EIA), domestic inventories of crude oil increased 1.912 million barrels in the week ending March 19. The market had anticipated a withdrawal of 272,000 barrels.

Stockpiles at the Cushing, Oklahoma storage facility declined 1.935 million barrels. Gasoline supplies rose 203,000 barrels, while distillate stocks climbed 3.806 million barrels.

Last week, the Baker Hughes oil rig count jumped to a three-month high of 318, marking the sixth consecutive week that the number of crude oil rigs was above 300.

Crude prices had been sliding over the last week on concerns over a growing number of European countries extending their lockdowns amid rising coronavirus infections. Investors fear that this will weigh heavily on energy demand. The slump was so bad that oil prices had fallen into correction territory, with a more than 10% plunge.

WTI and Brent futures bounced back midweek on problems in the Suez Canal. On Tuesday, traffic in the narrow waterway had stopped after the MV Ever Given, a Panama-flagged container ship with an owner listed in Japan, got stuck.

In other industry news, new data found that US refiners utilized Russian oil and petroleum products to fill the deficit left by sanctioned Venezuelan oil and a drop in shipments from the Organization of the Petroleum Exporting Countries (OPEC).

Moreover, a new Rystand Energy forecast suggests that 118,500 oil and gas wells will be drilled across the globe next year. Daniel Holmedal, an energy research analyst at Rystad Energy, wrote in the report:

In contrast to previous years, when the North American shale sector-led production growth, we expect the onshore and offshore shelf in the Middle East and the deepwater market in South America to be the main drivers of growth going forward. To recover production levels, operators will have to launch new drilling plans in tandem with maintenance and enhancement programs for existing wells, opening significant opportunities for well service suppliers in the years ahead.

In other energy commodities, April natural gas futures rose $0.03, or 1.17%, to $2.584 per million British thermal units (btu). April gasoline futures rallied $0.0446, or 2.35%, to $1.941 per gallon. April heating oil futures advanced $0.0397, or 2.27%, to $1.7899 a gallon.

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


© AndrewMoran for Commodity News, 2021. | Permalink | No comment |
Published under: Oil

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United States Gasoline Stocks Change


Stocks of gasoline in the United States increased by203 thousand barrels in the week ending March 19 of 2021. Gasoline Stocks Change in the United States averaged 13.07 Thousand Barrels from 1990 until 2021, reaching an all time high of 11456 Thousand Barrels in May of 1993 and a record low of -13624 Thousand Barrels in February of 2021. Stocks of gasoline refers to the weekly change of the gasoline supply situation. This page provides the latest reported value for - United States Gasoline 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 : Chart

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United States Heating Oil Stocks


Heating Oil Stocks in the United States increased to 11 Thousand Barrels in March 19 from -102 Thousand Barrels in the previous week. Heating Oil Stocks in the United States averaged -55.30 Thousand Barrels from 1993 until 2021, reaching an all time high of 94208 Thousand Barrels in July of 1993 and a record low of -92090 Thousand Barrels in June of 1993. This page provides - United States Heating Oil Stocks - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Refinery Crude Runs


Refinery Crude Runs in the United States decreased to 956 Thousand Barrels in March 19 from 1123 Thousand Barrels in the previous week. Refinery Crude Runs in the United States averaged 1.33 Thousand Barrels from 1982 until 2021, reaching an all time high of 2407 Thousand Barrels in March of 2021 and a record low of -3253 Thousand Barrels in September of 2017. Crude Runs refer to the volume of crude oil consumed by refineries. This page provides - United States Refinery Crude Runs- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Gasoline Production


Gasoline Production in the United States decreased to -300 Thousand Barrels in March 19 from -128 Thousand Barrels in the previous week. Gasoline Production in the United States averaged 1.18 Thousand Barrels from 1982 until 2021, reaching an all time high of 1373 Thousand Barrels in January of 2021 and a record low of -1638 Thousand Barrels in April of 2020. This page provides - United States Gasoline Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States Manufacturing PMI


Manufacturing PMI in the United States increased to 59 points in March from 58.60 points in February of 2021. Manufacturing PMI in the United States averaged 53.38 points from 2012 until 2021, reaching an all time high of 59.20 points in January of 2021 and a record low of 36.10 points in April of 2020. In the United States, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides the latest reported value for - United States Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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United States Services PMI


Services PMI in the United States increased to 60 points in March from 59.80 points in February of 2021. Services PMI in the United States averaged 53.89 points from 2013 until 2021, reaching an all time high of 61 points in June of 2014 and a record low of 26.70 points in April of 2020. Markit US Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 400 private sector companies covering transport and communication, financial intermediaries, business and personal services, computing & IT and hotels and restaurants. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. This page provides the latest reported value for - United States Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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Personal Income by State, 4th Quarter and Year 2020 (Preliminary)

State personal income increased 6.1 percent in 2020 after increasing 3.9 percent in 2019. In 2020, the increase in transfer receipts was the leading contributor to personal income growth in all states and the District of Columbia. The percent change in personal income across all states ranged from 8.4 percent in Arizona and Montana to 2.4 percent in Wyoming. Full Text

source https://www.bea.gov/news/2021/state-annual-personal-income-2020-preliminary-and-state-quarterly-personal-income-4th

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United States MBA Mortgage Applications


Mortgage Application in the United States decreased by 2.50 percent in the week ending March 19 of 2021 over the previous week. Mortgage Applications in the United States averaged 0.54 percent from 2007 until 2021, reaching an all time high of 55.40 percent in March of 2020 and a record low of -38.80 percent in January of 2009. In the US, the MBA Weekly Mortgage Application Survey is a comprehensive overview of the nationwide mortgage market and covers all types of mortgage originators, including commercial banks, thrift institutions and mortgage banking companies. The entire market is represented by the Market Index which covers all mortgage applications during the week, whether for a purchase or to refinance. This page provides - United States MBA Mortgage Applications - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Source | 🇺🇸 United States : Chart

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United States MBA 30-Yr Mortgage Rate


Fixed 30-year mortgage rates in the United States averaged 3.36 percent in the week ending March 19 of 2021. Mortgage Rate in the United States averaged 6.10 percent from 1990 until 2021, reaching an all time high of 10.56 percent in April of 1990 and a record low of 2.85 percent in December of 2020. MBA 30-Year Mortgage Rate is average 30-year fixed mortgage lending rate measured during the reported week and backed by the Mortgage Bankers Association. This page provides the latest reported value for - United States MBA 30-Yr Mortgage Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Source | 🇺🇸 United States : Chart

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US Dollar LIBOR Three Month Rate


US Dollar LIBOR Three Month Rate was at 0.19 percent on Wednesday March 24. Interbank Rate in the United States averaged 3.62 percent from 1986 until 2021, reaching an all time high of 10.63 percent in March of 1989 and a record low of 0.18 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 : Chart

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20210323

Bitcoin Could Drop to $25,000, Timothy Peterson Predicts

After the recent decline in the Bitcoin (BTC) price, predictions that more declines could be seen began to be made.

On March 21, investment expert Timothy Peterson, who shared a market assessment on Twitter, talked about the sales made by Bitcoin whales and stated that a deeper correction should be expected.

According to his assessment, BTC wallet addresses with a large amount are decreasing and that is associated with bear markets.

The number of addresses that contain more than 1,000 BTC. Source: Twitter

According to Glassnode data, addresses with 1,000 or more Bitcoins in it decreased for 40 consecutive days. This decline was previously experienced between 2014 and 2018. Peterson made the following statement in the tweet he shared saying:

The drop in large addresses indicates that the Bitcoin price could drop as low as $25,000 in the foreseeable future.

Read also: Is the Bitcoin Rally Ending? Whales Transfer Wealth to Retail Investors

The expert, who shared the chart below of the largest Bitcoin wallet addresses over the past five months, thinks the decline will be very drastic.

Comparison of the Bitcoin price with the largest addresses. Source: Twitter

Peterson also suggested that the new network value would be between $15,000 and $33,000 in the event of a drop to $25,000.

Relative strength index may be warning

Meanwhile, economist? ant Manukyan, who evaluates the price of Bitcoin, is among the names calling for caution. In his analysis shared on Twitter on March 23, he stated that as a result of the decline in the relative strength index (RSI), large investors may reduce purchases. He wrote in his tweet:

The ADX’s action, which shows the strength of the trend in BTC, now shows that we need to take the oscillator (RSI) more seriously. The mismatch in the RSI will not lead a hodler for sale, but it may pull aside for a purchase. I’m following $53,000.

Daily chart of XBT/USD pair. Source: Twitter

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Bitcoin May Drop Below $53K Before Bulls Regain Control, Says Trader

Bitcoin (BTC) price dropped to a two-week low on March 23 amid fears that bulls were losing their appetite to buy.

According to data from Tradingview, the BTC/USD pair fell to $53,125 last night. With the drop on Tuesday, Bitcoin came closer to testing $50,000 as buyer support seems to be gradually weakening.

Binance’s order book confirms support at $53,000, but should this level fail, a definite demand at $46,000 could prevent the downtrend.

Forecasting an upcoming move below $53,000, trader Crypto Ed said:

“This bull market is not over yet,” said Ki Young Ju, CEO of on-chain analytics resource CryptoQuant. I am ready to buy the dip.” He added:

But I’ll wait until the on-chain supply/demand indicators tell me to enter.

The CEO said that high selling pressure in spot exchanges prevented the price of Bitcoin from rising, but that investors saw the recent price action as a standard consolidation rather than capitulation.

Notably, the number of bitcoins withdrawn from exchanges in recent days has risen to the highest level in the past six weeks.

BTC and Tether (USDT) reserves and BTC/USD pair of the exchanges. Source: Santiment / Twitter

$1.38 billion liquidated

Moreover, on-chain metrics show that Bitcoin may have completed at least half of the latest bull run.

Bybt BTC liquidations chart.

Not all investors were ready for the decline experienced last night. In the futures market, $1.38 billion of the $1.7 billion long positions in the last 24 hours was liquidated.

According to the data from Bybt, 2021 has become the year for those betting on crypto price forecast, with leveraged traders, especially, liquidating a huge amount.

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


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