Following Bank of Canada's Poloz restates his bias for higher rates earlier in Sintra, now BoC deputy Patterson confirmed "the oil shock is largely behind us" and hinted that low rates were no longer needed. This is the biggest spike in the Loonie since March 2016, pushing it back to its strongest against the dollar since early Feb 2017.
Mike Novogratz said yesterday that he would be adding if Ether dropped near $200, and as it did overnight, a bid appeared and helped by positive comments in a World Economic Forum whitepaper on "realizing the potential of blockchain," Ethereum has exploded higher, topping $300.
Quite a reversal...
While the catalyst is unknown, CoinTelegraph reports that The World Economic Forum (WEF) today published a dedicated Blockchain report detailing how the technology will flow into the global economy.
Authored by Zainab Calcuttawala via OilPrice.com,
Hackers have targeted Russian oil giant Rosneft, the company said on Tuesday, just as Deloitte released a report on cyber-attacks targeting U.S. oil companies.
A “powerful hacker” attacked the company’s server in an assault that, according to TASS news agency, could be related to ongoing legal proceedings.
Last night's unexpected API builds kneejerked prices lower but a weaker dollar helped levitate WTI/RBOB into the DOE print. While tropical depression Cindy may have affected the data, DOE reports a small build in crude (expectations for a draw) but all eyes were on gasoline which drew 894k, well below API's build levels and expectation of no change. Production in the Lower 48 fell 55k b/d - the biggest drop since Aug 2016 (likely impacted by Cindy).
API
As if Illinois didn't have enough to worry about between an imminent downgrade to junk (as soon as July 1), soaring debt costs, insolvent pension funds, and roads that may soon resemble the lunar surface, today in the latest insult to a relentless series of injuries, the lottery itself, including the popular Powerball and Mega Millions, is set to dump Illinois because the state literally can't afford to payout winners.