Key News Overnight:
U.S. President Donald Trump was swift to condemn the Federal Reserve – after it cut interest rates by 0.25%, for the second time this year. Trump tweeted, “Jay Powell and the Fed Fail Again. No guts, no sense, no vision! A terrible communicator!”.
In his remarks at a press conference today, Fed Chair Jerome Powell said the Fed expects the US economy to remain strong and inflation to stay around its 2% target. Another small cut or two might be warranted in the future.
European share markets were little changed on Wednesday with the pan-European STOXX600 index up just 0.02%. Gains for the defensive real estate and utilities sectors were countered by losses in luxury good makers, with investor caution prevailing.
Oil prices retreated after President Donald Trump said he ordered the Treasury Department to “substantially increase” sanctions on Iran. Brent was down 1.5% while WTI dropped 2.1%.
Gold and silver prices were weaker in afternoon U.S. trading on Wednesday, in the wake of the just-released FOMC statement, which did not suggest as accommodative future U.S. monetary policy as many expected.
In This Issue:
Denver Gold Forum (Denver USA)
Carnarvon Petroleum (CVN) | Successful Flow test of the Baxter | SPEC BUY | Analyst | Michael Eidne
Otto Energy (OEL) | OEL increases reserves by 15% | BUY | Analyst | Michael Eidne
Good Oil Conference 2019 Wrap: STX, FAR, OEL, TEG, COI | Atrum Coal (ATU) | Argonaut Quarterly Oil and Gas Sector Update