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  • Squawk / 1 hour ago
    Technical Analsyt / commoditymarket2008 Advisory Services
    India
    SPOT GOLD HAS RESISTANCE 1194, HOLD ABOVE THEN 1200-1208 POSSIBLE & HAS SUPPORT 1184, HOLD BELOW THEN 1178-1170 POSSIBLE
    Read the Squawk
  • Squawk / 1 hour ago
    Technical Analsyt / commoditymarket2008 Advisory Services
    India
    SPOT GOLD HAS RESISTANCE 1194, HOLD ABOVE THEN 1200-1208 POSSIBLE & HAS SUPPORT 1184, HOLD BELOW THEN 1178-1170 POSSIBLE
    Read the Squawk
  • Editor’s Picks / 1 hour ago

    Move over shale -- solar is US's fastest growing power source

    Bloomberg
    Move over shale. The sun is now the fastest growing source of US electricity. Solar power capacity in the US has jumped 20-fold since 2008 as companies including Apple Inc. use it to reduce their carbon footprint. Rooftop panels are sprouting on homes from suburban New York to Phoenix, driven by suppliers such as SolarCity Corp. and NRG Energy Inc. Giant farms of photovoltaic panels, including Warren Buffett’s Topaz array in California, are changing power flows in the electrical grid, challenging hydro and conventional generators and creating negative prices on sunny days. The surge comes after shale drilling opened new supplies of natural gas, contributing to the 47 percent drop in oil since June.
    Read article on Bloomberg
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  • 13h
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    S&P 500 has sold off 15 point since I wrote this. It changes nothing.

    Dow has sold off 170-odd points. i'm still of the same view. In...
  • 13h
    Liam Conroy Liam Conroy
    Sorry Andreas,
    you are right i was looking at cocoa my mistake

    liam
    13h
    Andreas Clenow Andreas Clenow
    No problem, Liam. Cocoa is getting quite interesting here. The price is finally breaking up into a potential new trend and the backwardation is supporting a positive...
    8h
    peter peter
    is there any fundamental news for the negative breakout or just technical driven?
  • Squawk / Yesterday at 14:08 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    US new home sales, consumer confidence rise:

    Consumers in the world's largest economy are getting more upbeat about their situation, according to the Conference Board's May report. The headline confidence index rose to 95.4 from 94.3 (revised down from 95.2) beating expectations of 95. While the May report was better than expected, it is worth keeping in mind that the index stood at 103.8 back in January, so there is still some way to go before a new cyclical high is reached.

    In another report we learned that new home sales rose by 6.8% in April, faster than the 5% expected, resulting in 517,000 sales last month vs. 484,000 in March.

    Lastly, the Richmond Federal Reserve released its May manufacturing index, which printed 1 vs. 0 expected and -3 prior as new orders bounced back to 2 from -6 while shipments gained 5 points to -1.
    Read the Squawk
  • Squawk / Yesterday at 13:35 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    The rising dollar is having a negative impact on commodities for a second day. Not least WTI crude oil where the July contract is close to testing the recent low from last Tuesday. Last week the US rig count dropped by just one and this has been taken as a sign that the current price level will be high enough to trigger a pick-up in US production. In the Middle East the battle for market share has kept production elevated despite the heightened turmoil in both Iraq, Yemen and Saudi Arabia.
    Money managers cut net-longs in both WTI and Brent crude as of May 19th but the combined long of almost 500 million barrels remain elevated which leaves both vulnerable to further long liquidation. Especially if the recent lows at $57.93 in CLN5 and $63.95 in LCON5 are taken out.
    Read the Squawk