EOS Climbs 12% In a Green Day By Investing.com



Investing.com – was trading at $8.2559 by 17:26 (21:26 GMT) on the Investing.com Index on Friday, up 12.25% on the day. It was the largest one-day percentage gain since May 31.

The move upwards pushed EOS’s market cap up to $7.5532B, or 2.79% of the total cryptocurrency market cap. At its highest, EOS’s market cap was $17.5290B.

EOS had traded in a range of $7.2030 to $8.2607 in the previous twenty-four hours.

Over the past seven days, EOS has seen a rise in value, as it gained 27.76%. The volume of EOS traded in the twenty-four hours to time of writing was $5.2221B or 5.71% of the total volume of all cryptocurrencies. It has traded in a range of $6.2097 to $8.4708 in the past 7 days.

At its current price, EOS is still down 64.07% from its all-time high of $22.98 set on April 29, 2018.

Elsewhere in cryptocurrency trading

was last at $8,540.9 on the Investing.com Index, up 3.74% on the day.

was trading at $263.23 on the Investing.com Index, a gain of 5.33%.

Bitcoin’s market cap was last at $151.5925B or 56.06% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $28.0306B or 10.37% of the total cryptocurrency market value.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. crude output rises 2.1% in March to near record high: EIA By Reuters


© Reuters. A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport

(Reuters) – oil production rose 241,000 barrels per day (bpd), or 2.1 percent, in March to 11.905 million bpd, just below its record high, the Energy Information Administration (EIA) said in its monthly 914 production report on Friday.

That monthly increase in U.S. production from a revised 11.664 million bpd in February followed two months of declines in January and February. U.S. monthly output peaked at 11.966 million bpd in December.

Most of the increase came from the federal offshore Gulf of Mexico, which rose 11.1% to 1.907 million bpd, and North Dakota, which gained 3.2% to 1.352 million bpd.

Output in Texas, the biggest oil producing state, meanwhile, eased 0.1 percent to 4.873 million bpd.

Meanwhile, monthly gross production in the Lower 48 U.S. states rose to a fresh record high 99.3 billion cubic feet per day (bcfd) in March from the prior high of 99.1 bcfd in February, according to the report.

Those gains were driven by an 8.7% rise in the Gulf of Mexico to 2.9 bcfd and a 7.2% increase in North Dakota to a record high 2.8 bcfd.

In Texas, the biggest gas producing state, output declined 0.9% to 26.4 bcfd from a monthly record high 26.6 bcfd in February.

In Pennsylvania, the second-biggest gas-producing state, output rose 0.7% to a record high 18.8 bcfd.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Rises 2% in May; Mexico Tariffs Help Return to $1,300 By Investing.com


© Reuters.

By Barani Krishnan

Investing.com – What fears over China couldn’t achieve, worries over Mexico have done.

Bullion and futures of gold returned to the key bullish $1,300 mark on Friday as equity markets cratered and benchmark yields tumbled after President Donald Trump’s move to add Mexico to the U.S. list of trade adversaries.

, reflective of trades in bullion, traded at $1,304.81 per ounce by 2:35 PM ET (18:35 GMT), up $16.34, or 1.3%. It hit a seven-week high of $1,307.02 earlier. For the whole of May, spot gold was up 1.7%.

for June delivery, traded on the Comex division of the New York Mercantile Exchange, settled up $18.70, or 1.5%, at $1,305.80 per ounce. Comex’s more active August gold, the forthcoming front-month contract, also closed up $18.70, or 1.4%, at $1,311.10.

The Trump administration announced on Thursday it will impose a 5% tariff on all imported goods from Mexico beginning June 10 and “gradually increase” that tax to 25% until the flow of undocumented immigrants across the border stops. Trump later tweeted that stopping the flow of illegal drugs may also be a condition, while having companies move production to the U.S. to avoid tariffs was also part of the surprise plan.

The biggest trade war waged by the U.S. is, of course, with China with the more-than year-long showdown already threatening to push the world into a recession as neither side shows signs of blinking. Aside from the , the Trump administration has also removed India – another giant economy with more than 1 billion consumers – from the U.S. Generalized System of Preferences, which gives favorable access to goods from developing countries.

While gold has been the safe haven of choice in times of political and economic troubles, where U.S.-China trade is concerned the yellow metal has faced much competition from the U.S. dollar. That has prevented gold from progressing past, or even staying in, $1,300 territory.

For a third day in a row, gold rose together with the U.S. dollar before the greenback eventually gave back its early gains. The , which measures the U.S. currency against a basket of six currencies, slid 0.4% to 97.708. For all of May, the dollar was up 0.5%.

“Gold finally reached the $1,300 area even with dollar strength as global growth is threatened by tariffs,” George Gero, precious metals analyst at RBC Wealth Management, said, citing “tariffs on car parts that come from Mexico, that could hurt future sales, with higher prices passed on to consumers” as the trigger for the move.

“The Fed may be forced to look deeper into cutting rates instead of hiking,” Gero added.

With worries about a potential global recession arising from Trump’s various trade wars, economists have been speculating again that the U.S. central bank may be forced into a new round of economic easing. Fed funds futures have priced in roughly two U.S. rate cuts by the start of next year as the yield curve between 3-month bills and 10-year notes remained inverted. Three-month treasurys were yielding 2.29% on Friday; the 10-year treasury yield was just 2.14% and is down 20% this year.

Inflation has been running below levels targeted by the Fed, placing Chairman Jerome Powell under the scrutiny of Trump again. Trump’s been pushing for lower interest rates. Powell said recently he believed the soft inflation environment “may wind up being transient.”

Elsewhere in metals, palladium fell after a four-day rally on worry over the Mexico tariffs, although the silvery-white auto-component metal retained its standing as the world’s costliest traded metal.

fell $35.25, or 2.6%, to $1,333.95 an ounce. It fell nearly 3.5% in May, its third-straight negative month, though it remains up 5% on the year.

Trades in other Comex metals as of 2:35 PM ET (18:45 GMT):

down $34.55, or 2.5%, at $1,331.15 per ounce.

down $1.00, or 0.1%, at $793.10 per ounce.

up 7 cents, or 0.5%, at $14.56 per ounce.

down 2 cents, or 0.7%, at $2.64 per pound.



Tether Stablecoin Now Available on EOS Blockchain By Cointelegraph



Blockchain tech company Tether has announced that it is partnering with parent company Block.one to release its stablecoin (USDT) on the EOS blockchain (EOSIO), according to a press release shared with Cointelegraph on May 31.

According to the announcement, Tether developed the Tether EOS smart contract, which has been sent to the EOS account “tethertether” and peer-reviewed by the Canadian branch of EOS. Tether EOS is reportedly well-suited for peer-to-peer microtransactions, due to its delegated proof-of-stake design.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Binance Charity Foundation Signs Memorandum of Understanding With Ugandan NGO By Cointelegraph



Binance Charity Foundation (BCF), the charity arm of major crypto exchange Binance, has signed a Memorandum of Understanding (MoU) with Safe Future, a non-governmental organization (NGO) in Uganda focused on local education improvements. Binance announced the development in an official blog post on May 30.

The Binance for Children Special Impact Education Project Uganda reportedly aims to provide a number of new supplies to schools in Uganda, such as solar panels, sanitary pads, school supplies, LED screens, as well as breakfast and lunch for students.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Escalating trade tensions will disrupt Mexican growth: Fitch Ratings By Reuters


Escalating trade tensions will disrupt Mexican growth: Fitch Ratings

MEXICO CITY (Reuters) – Fitch Ratings said on Friday that escalating trade tensions between Mexico and the United States would disrupt growth in Latin America’s second-largest economy after U.S. President Donald Trump threatened to slap tariffs on Mexican imports.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Mexican peso erases all its 2019 gains after Trump tariff threat By Reuters


© Reuters. An employee changes the board with the exchange rate for Mexican Peso and U.S. Dollar at a CI Bank branch in Mexico City

By Noe Torres

MEXICO CITY (Reuters) – The Mexican peso, which has resisted a drip-drip of bad news for months, finally gave way and erased all its gains this year on Friday after U.S. President Donald Trump threatened to slap tariffs on goods exported from Mexico to the United States.

In a dispute over migration, Trump said he would introduce punitive tariffs on June 10 if Mexico does not halt the flow of illegal immigration from Central America, battering the currency of Latin America’s second-largest economy.

The Mexican peso lost as much as 3.62% on Friday in early trading, touching its worst level so far this year before erasing some losses. It was the deepest drop since Mexican President Andres Manuel Lopez Obrador abruptly canceled a $13 billion airport project in October.

Mexico’s Central Bank Governor Alejandro Diaz de Leon tried to calm a nervous market with assurances the bank was monitoring the situation closely, and had several options to intervene.

“This type of news that casts doubt over the status of external accounts, the capacity and terms over which can be sell and buy currencies, obviously, affects the exchange rate,” Diaz de Leon told local radio program Formula Financiera late on Thursday.

Diaz de Leon said while the Mexican peso could deepen its losses against the dollar, it was a widely held and traded currency that could withstand some pressure.

“We will be very attentive to these risk factors that we had originally viewed as somewhat further away but that now appear to be intensifying,” Diaz de Leon said.

“It is clear that we not only have a solid macroeconomic strategy with a monetary policy, public finances, solvency and resilience in financial institutions but also liquidity instruments in foreign currency in case it were necessary.”

Until Thursday, the peso had held up well against repeated economic growth downgrades by private economists and the central bank itself, and concerns among Mexican companies about the direction of policy under the young government of Lopez Obrador.

In central bank minutes from a May 16 monetary policy meeting, released on Wednesday, the board noted the peso’s strength against the dollar in recent months was partly down to overseas funds seeking Mexico’s higher yields.

“The majority noted that Mexico’s relatively high interest rates in comparison to other economies has contributed to the good performance of the peso,” the report said. The bank raised its interest rate to 8.25% on Dec. 20.

If implemented, Diaz de Leon said the tariffs could eventually lead to higher inflation as well as hurt Mexico’s manufacturing and exporting sectors.

The bank had cut its growth forecast for 2019 to 0.8%-1.8%, from 1.1%-2.1% previously, the fourth time it has lowered its outlook. Lopez Obrador has said the economy would grow “at least” 2% in 2019 and 3% in 2020.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. drillers cut oil rigs for sixth straight month: Baker Hughes By Reuters


© Reuters. U.S. drillers cut oil rigs for sixth straight month: Baker Hughes

(Reuters) – U.S. energy firms this week increased the number of oil rigs operating for the first time in four weeks but cut the rig count for the sixth straight month as most drillers cut spending plans.

Companies added three oil rigs in the week to May 31, bringing the total count to 800, General Electric (NYSE:) Co’s Baker Hughes energy services firm said in its closely followed report on Friday.

That compares with 861 rigs operating during the same week a year ago.

For the month, drillers cut the number of rigs operating by five, their sixth monthly cut in a row. That is the most monthly declines in a row since May 2016 when the rig count fell for nine consecutive months.

The rig count, an early indicator of future output, has declined since December as independent exploration and production companies cut spending on new drilling as they focus more on earnings growth instead of increased output.

futures were trading under $55 per barrel on Friday, their lowest since March and heading to their biggest monthly fall in six months as U.S. President Donald Trump ramped up trade tensions, boosting concerns oil demand will decline if the global economy slows.

Looking ahead, crude futures were trading below $55 a barrel for the balance of 2019 and under $54 in calendar 2020.

“The rub for domestic producers is that the futures markets for both crude and are trading below spot prices, signaling the prospect of more pain on the horizon,” said Trey Cowan, senior analyst, S&P Global (NYSE:) Platts Analytics.

“Presently, it appears likely the need for domestic rigs could continue to wane in lockstep with the price declines of the underlying commodities.”

U.S. financial services firm Cowen & Co this week said that projections from the exploration and production (E&P) companies it tracks point to a 5% decline in capital expenditures for drilling and completions in 2019 versus 2018.

Cowen said independent producers expect to spend about 11% less in 2019, while major oil companies plan to spend about 16% more.

In total, Cowen said all of the E&P companies it tracks that have reported will spend about $81.9 billion in 2019 versus $86.4 billion in 2018.

U.S. crude oil production rose 241,000 barrels per day (bpd), or 2.1%, in March to 11.905 million bpd, just below its record high, the Energy Information Administration (EIA) said in its monthly 914 production report.

Year-to-date, the total number of oil and gas rigs active in the United States has averaged 1,025. Most rigs produce both oil and gas.

Analysts at Simmons & Co, energy specialists at U.S. investment bank Piper Jaffray, forecast the average combined oil and gas rig count will slide from a four-year high of 1,032 in 2018 to 1,019 in 2019 before rising to 1,097 in 2020.

That is the same as Simmons predictions since early April.



Bitcoin Falls, but on Track for Fourth-Straight Monthly Gain By Investing.com



Investing.com – Bitcoin continued to trade in the red on Friday, but looked set to record its fourth-straight monthly gain following rallies for most of the month.

fell 2.65% to $8,401, but remained well of its lows of about $8,000.

Bitcoin’s second-straight day of losses, following its surge above $9,000 yesterday, has seemingly done little to knock sentiment as traders showed a willingness to back the popular crypto at the key $8,000 handle.

The correction from a day earlier was expected, with some suggesting that bitcoin was set for a period of consolidation following its parabolic rally, which saw its price more-than-double in four months.

Galaxy Digital CEO Mike Novogratz told Bloomberg during a conference call that “on a go-forward basis, bitcoin probably consolidates somewhere between $7,000 and $10,000.”

Other cryptos fell in tandem with bitcoin, with falling 4.23% to $0.42367, down 3.90% to $258.82 and shedding 3.21% to $109.70.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Trade is Trump’s favorite pinata, Mexico will fight back: official By Reuters


© Reuters. Americas Society and Council of the Americas event in Mexico City

MEXICO CITY (Reuters) – Mexico will defend its interests against sweeping tariffs threatened by U.S. President Donald Trump, who uses trade like a pinata that he hits to solve any problem, Mexican deputy economy minister Luz Maria de la Mora said on Friday.

De la Mora said the multilateral trading system and the existing NAFTA trade agreement gave Mexico the tools it needs to respond to tariffs, adding that was not something that her government wanted to do.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.