Produced by: DailyFX.com AM Forex Trading Outlook. Daily morning analysis of the US Forex market trading session with DailyFX Currency Analysts David Song and Michael Wright. Includes coverage of economic and financial market news, as well as an outlook for the day ahead and trading ideas.
(May 8, 2008) While oil and natural gas prices are skyrocketing, the world’s energy consumers are trying to find ways to reserve oil and gas for themselves. Now, energy rich countries are using their resources as political leverage: Iran is trying to sell it. Venezuela is trying to barter and trade, while oil hungry countries use different strategies to buy into Africa. SOURCES: ABC News, US; BBC, UK; Press TV and Al Alam, Iran; TV5, France; Latino America Noticias, Uruguay; Asia Today, China; South Asia Newsline, India; AlJazeera English, Qatar. — Global Pulse is a fast-moving and informative television and web series that helps you navigate the news of the world by comparing and contrasting TV news reports. See all the episodes of Global Pulse at linktv.org —
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The Washington Post is reporting that scientists have found evidence contrary to the Obama administration claim that most of the oil from BP’s spill is either gone or rapidly disappearing. They cite the discovery of an undersea “plume” of oil stretching more than 21 miles from the well site. News of the plume was announced Thursday afternoon by researchers from Woods Hole Oceanographic Institution. The cloud of oil droplets, which is more than a mile wide and as tall as a 65-story building, was found in late June. Researchers have also questioned the math used in the government’s accounting. Although the spill has not had the repercussions initially expected, many are criticizing the government for painting a less than realistic picture.
= InTrader Hindsight, we look at the most popular markets and pick out the top trade of the week. While 20/20 vision is a great asset for finding great trades from the past, we also give legitimate reasons as to why you could have spotted the trade yourself. The aim is that this will help you spot some great trades in the future.
US markets ended on a positive note on Monday, on expectations that Tuesday’s central bank meeting will result in the Fed holding interest rates at close to zero percent
Hoofy and Boo report that earlier this month the price of oil reached 0 a barrel. While oil prices fluxgate day-to-day experts agree that the overall supply and demand is fundamentally changing how we see the world. As a result of record oil prices, the United States’ trade deficit has widen to the biggest gap in 14 months. Also, Venezuela has oil but is not willing to partner with the US. www.minyanville.com
