Category: Dinar Daddy

U.S. Natural Gas Storage 94B vs. 97B forecast

Investing.com –

Investing.com – U.S. natural gas storage rose less-than-expected last month, official data showed on Thursday.

In a report, Energy Information Administration said that U.S. Natural Gas Storage rose to a seasonally adjusted annual rate of 94B, from 94B in the preceding month.

Analysts had expected U.S. Natural Gas Storage to rise 97B last month.

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Asian shares gain in line with Wall Street, Nikkei shrugs off strong yen

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Investing.com – Asian stocks rose Friday on the back of a strong rally on Wall Street, while gains in Tokyo were supported by the dollar’s strength against the Japanese yen.

The Nikkei 225 was up 1.1% after the dollar traded at its strongest levels in two weeks against the yen. Japanese exporters gain from a weaker yen, which boosts their profits from overseas markets.

Korea’s Kospi was down 0.4%, while Australia’s SP/ASX 200 was up 0.2%.

Overnight, U.S. stocks rose amid applause for upbeat U.S. earnings and data, though fresh Ebola concerns trimmed earlier gains later in the session.

At the close of U.S. trading, the Dow 30 rose 1.32%, the SP 500 index rose 1.23%, while the NASDAQ Composite index rose 1.60%.

The Department of Labor reported earlier that the number of individuals in the U.S. filing for initial jobless benefits in the week ending Oct. 18 increased by 17,000 to 283,000, broadly in line with forecasts.

The four-week average fell to 281,000, the lowest since May 2000, while continuing claims, which includes those receiving benefits for at least a second month in a row, also hit a 14-year low, of 2.35 million, which boosted stock prices.

On Friday, the U.S. is to round up the week with a report on new home sales.

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Natural gas moves off earlier highs on mild weather forecasts

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Investing.com – Natural gas prices moved lower on Thursday on expectations that mild autumn temperatures will hold across much of the U.S. and curb demand for both heating and air conditioning, prompting thermal power plants to burn less of the commodity as a result.

A bullish supply report cushioned losses.

On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.11% at $3.655 per million British thermal units during U.S. trading. The commodity hit a session low of $3.609, and a high of $3.682.

The November contract settled down 1.40% on Wednesday to end at $3.659 per million British thermal units.

Natural gas futures were likely to find support at $3.545 per million British thermal units, the low from Nov. 19, 2013, and resistance at $3.718, Wednesday’s.

Updated weather-forecasting models called for mild temperatures across much of the U.S. into early November.

“A weather system will track across the north-central U.S. to begin the outlook with cooler-than-normal temperatures. It will gradually push into the Northeast with reinforcing cool blasts set to follow. However, high pressure will strengthen over the southern and central U.S. late in the outlook and will bring mild temperatures with little demand for heating or cooling,” Natgasweather.com reported in its Oct. 30-Nov.5 outlook.

“Weather systems will continue to impact the Northwest with showers, while offshore flow will bring warm temperatures to California. The pattern during the outlook is very messy and will require fine tuning.”

Hopes for colder weather to arrive after the first week of November cushioned losses as did a bullish weekly inventory report.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ending Oct. 17 rose by 94 billion cubic feet, below expectations for an increase of 97 billion.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in December were up 1.23% at $81.51 a barrel, while heating oil for November delivery were up 0.79% at $2.4929 per gallon.

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Saleem al-Jubouri confirms the desire of Iraq and Kuwait in turning the page of the past and to strengthening bilateral relations

BAGHDAD / NINA / Speaker of the House of Representatives Saleem al-Jubouri confirmed on Thursday the desire of Iraq and Kuwait in turning the page of the past and strengthening the bilateral relations between the two brotherly countries.

A source in his office said that al-Jubouri called at the conclusion of his visit to Kuwait to unify efforts and views regarding regional issues.

He al-Jubouri praised his visit to Kuwait, calling for opening new horizons in the Iraqi-Kuwaiti relations.

al-Jubouri had arrived in Kuwait on Tuesday at the head of a large parliamentary delegation on an official visit during which he met Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah, National Assembly Speaker Marzouq Al-Ghanim and Prime Minister Jaber Mubarak Al-Hamad Al-Sabah and other officials

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Hakim and Defense Minister discuss the security developments and the restructuring of some of the Iraqi army units

BAGHDAD / NINA / Head of the Islamic Supreme Council of Iraq Ammar al-Hakim, discussed with Defense Minister Khaled al-Obeidi the security developments and the restructuring of some units in the Iraqi army.

A statement by al-Hakim office said that the two sides discussed during the meeting the security developments and restructuring of some units in the Iraqi army and ways to take advantage of the international coalition in line with keeping the sovereignty of Iraq.

al-Hakim stressed the importance of supporting the Iraqi army and supplying it with weapons and training, stressing that the Iraqis are able to defeat terrorism and liberate their country.

For his part, al-Obeidi outlined that he “listened to the points of views of al-Hakim, in support of the Iraqi army, and praised his policy, which contributed to the convergence of views between the political parties .

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Abadi from Karbala: The security situation is under control and we will bring back the displaced people to their homes and cancel sonar device

Karbala / NINA / Prime Minister Haider al-Abadi said on Thursday that the security situation in the country is under control and there is no cause for concern and fear for the security of the country and reiterated the need for the unity of the Iraqi people against all extremist organizations.

Abadi assured in a press conference held in the governorate building of Karbala for the safety of the security measures taken to ensure the situation in Karbala and said that there are a lot of efforts are being made by the Operation commander and the governor and other officials for maintaining the safety and security of the province.

Abadi focused on the problem of the displaced people and their suffering and the need to return to their homes and said that it is our passion and our first choice is to liberate their areas controlled by terrorist groups before everything and then bring them back to their homes safely.

With regard to the continuation of the security services in the use of sonar device, which has proved its failure, the Prime Minister promised that they will soon get rid of that device.

The conference was attended by the governor of Karbala, Akil Turaihi and Chairman of the Council Nassif al-Khutaby and Operational Commander of the Middle Euphrates Othman Ghanimi and police chief Ghanem Al-Ankushy and a number of members of the provincial council and security officials

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Barzani calls on the United States to arm and train the Peshmerga

Arbil / NINA / KRG PM Nachervan Barzani discussed on Thursday with a delegation of the American Congress to confront the IS and provide aid to the displaced people in the region.

A statement by the provincial government today said that Barzani met with a delegation of the US Congress headed by Daryl Lisa chairman of the Monitoring and Government Reform Committee in the Congress.

The statement quoted the head of the American delegation as saying that “the Kurdistan region is fighting terrorism for the values of freedom, and the Peshmerga is fighting the terrorists in the front lines and they need more support and arming.

For his part, PM of the Kurdistan Regional Government called on the US government to support the region and supply it with heavy weapons and the training of the Peshmerga forces.

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Iraq to hold auction for Nassiriya oil project by end 2014-official

Iraq’s oil ministry will hold a bidding round to develop its southern Nassiriya oilfield and construct an associated refinery before the end of 2014, ministry spokesman Assem Jihad told Zawya.

In June, the ministry said it had delayed bidding for the project to develop the 4 billion-barrel oilfield and construct a 300,000 barrel a day refinery, in order to complete technical and administrative preparations.

“The ministry will hold the licensing round at the end of this year and we are in the process of preparing for this,” Jihad said, adding that the project would cost USD 6 million.

Iraq had shortlisted seven international oil companies to bid for the Nassiriya Integrated Project, including Russia’s Lukoil and France’s Total.

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Forex

Investing.com –

Investing.com – The New Zealand dollar fell sharply in Asia on Thursday after lower than expected consumer price data, while the dollar held ground.

NZD/USD traded at 0.7871, down 0.73%. USD/JPY was flat at 107.15, and AUD/USD changed hands at 0.8771, down 0.08%.

The NAB business confidence and conditions index for the third quarter is due at 0030 GMT, while the China HSBC flash manufacturing figure for October is due at 0145 GMT.

Earlier, New Zealand said third quarter CPI rose 0.3%, well below the 0.5% gain expected.

Overnight, the dollar traded largely higher against most major currencies after U.S. inflation data met consensus forecasts, while expectations for the European Central Bank to loosen policy supported the unit further.

The Labor Department reported earlier that the U.S. consumer price index rose 0.1% in September, meeting estimates and following a 0.2% decline in August, which sent investors flocking to the greenback.

Year-over-year, consumer prices rose 1.7% in September, beating expectations for a 1.6% reading.

Core consumer prices, which exclude food and energy costs, rose 0.1% in September, disappointing expectations for a 0.2% gain. Core consumer prices were flat in August, though the overall report confirmed market expectations for the Federal Reserve to make monetary policy less accommodating going forward.

The euro, meanwhile, continued to come under pressure after Reuters reported earlier this week that the European Central Bank may purchase corporate debt to boost slowing inflation rates in the euro area and kick start recovery.

The report said the bank could activate the new stimulus plan as soon as December and begin bond purchases by early next year.

The ECB began purchasing covered bonds on Monday in a bid to increase liquidity in the region, and talk of fresh stimulus programs softened the euro.

An ECB spokesperson said no decision had been taken but the report was seen as an indication that the bank is moving closer to purchasing government debt.

Reports by Spanish news agency Efe that at least 11 European banks are set to fail ECB stress tests this weekend also hit demand for the euro.

The ECB was to announce the results of stress tests on 130 banks on Sunday.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.04% at 85.82.

On Thursday, the U.S. is to publish its weekly report on initial jobless claims.

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NYMEX crude oil rebounds in Asia on bargain hunting after overnight drop

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Investing.com – Crude oil prices rebounded in Asia on Thursday on bargain hunting, but the underlying tone remained weak as ample global supplies weigh.

On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $80.48 a barrel, up 0.17%, after hitting an overnight session low of $81.13 a barrel and off a high of $83.13 a barrel.

Brent oil fell 1.8% to $84.71 a barrel on ICE Futures Europe.

Overnight, oil prices plunged after data revealed U.S. inventories rose more than three times markets were expecting, stoking growing concerns that the global market is awash in crude.

The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 7.1 million barrels in the week ended Oct. 17, far outpacing expectations for a gain of 2.7 million barrels.

Total U.S. crude oil inventories stood at 377.7 million barrels as of last week.

The report also showed that total motor gasoline inventories decreased by 1.3 million barrels, compared to forecasts for a decline of 1.0 million barrels, while distillate stockpiles increased by 1.0 million barrels.

A stronger dollar depressed oil prices as well, making the commodity less attractive asset on exchanges denominated in the U.S. currency.

The U.S. Labor Department reported earlier that consumer prices rose 0.1% in September, meeting estimates and following a 0.2% decline in August, which sent investors flocking to the greenback.

Core consumer prices, which exclude food and energy costs, rose 0.1% in September, disappointing expectations for a 0.2% gain.

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