Thursday, November 24, 2011

DailyMarkets.com - Frac Boom Has Triggered A Huge Sand Boom: Demand For Frac Sand Is Jumping Through The Roof

DailyMarkets.com - Frac Boom Has Triggered A Huge Sand Boom: Demand For Frac Sand Is Jumping Through The Roof

Frac Boom Has Triggered A Huge Sand Boom: Demand For Frac Sand Is Jumping Through The Roof

Posted: 24 Nov 2011 11:28 AM PST

FT.COM — “Gas and oil production from shale rocks has triggered a corollary boom underground as drillers demand billions of pounds of sand. The hydraulic fracturing process that has brought new hydrocarbon supplies to the US relies on massive injections of water and chemicals to break open rocks. Sand is also pumped into wells as a form of scaffolding.

Sand miners are now racing to expand operations, attracting the attention of private equity investors. One, US Silica Holdings, has disclosed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Lower; Dax Down 0.54%

Posted: 24 Nov 2011 10:05 AM PST

Forexpros – European stocks were down after the closing bell on Thursday.

At the close of European trade, Germany's DAX fell 0.54%, London's FTSE 100 shed 0.24%, France's CAC 40 declined 0.01% and the EURO STOXX 50 was down 0.31%.

Meanwhile, on Wall Street, equity markets were down after the open. The Dow Jones Industrial Average was down 2.05%; the S&P 500 index shed 2.21%, while the Nasdaq 100 index declined … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Squeezes Higher As London Leaves

Posted: 24 Nov 2011 09:42 AM PST

The EURUSD has squeezed higher now that London has exited for the day. The price is approaching resistance against the London morning floor area. It is also now near the 38.2% of the days trading range.  Those levels come in at the 1.3351-53 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank Of Nigeria Holds Rate At 12.00%

Posted: 24 Nov 2011 08:57 AM PST

The Central Bank of Nigeria held its monetary policy interest rate unchanged at 12.00%.  The Bank also held the cash reserve ratio at 8%.  Bank Governor, Lamido Sanusi, said: ”These decisions have helped in controlling pressures on the general price level and in maintaining a relatively stable equilibrium in the foreign exchange markets. Where this equilibrium is disturbed by external factors, the ability to respond rapidly has succeeded in quickly restoring … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Egypt Central Bank Hikes Rate 100bps To 9.25%

Posted: 24 Nov 2011 08:33 AM PST

The Central Bank of Egypt increased its overnight deposit rate by 100 basis points to 9.25% from 8.25%, and the overnight lending rate by 50 basis points to 10.25% and 7-day repo to 9.75%.  The Bank said: “In its meeting held on November 24, 2011, the Monetary Policy Committee (MPC) decided to raise the overnight deposit rate by 100 bps to 9.25 percent while raising the overnight lending rate and the 7-day repo by 50 bps to 10.25 percent and 9.75 percent, respectively. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed As Merkel Remarks Weigh On Sentiment

Posted: 24 Nov 2011 08:24 AM PST

Forexpros – The U.S. dollar was mixed against its major counterparts on Thursday, after comments by German Chancellor Angel Merkel underlined concerns that European leaders would be unable to find a resolution to the debt crisis in the region.

During European late afternoon trade, the dollar edged higher against the euro, with EUR/USD slipping 0.08% to hit 1.3329.

Speaking at a joint news conference with France’s Nicolas Sarkozy and Italy’s Mario Monti following a meeting earlier, Merkel … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Current Intrade Odds: Cain And Perry Are Fading, Gingrich And Huntsman On The Rise, Romney Falls

Posted: 24 Nov 2011 08:19 AM PST

Current odds on Intrade.com for the Republican presidential nominee (click to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Fluctuates In Thin Trade, Merkel Comments In Focus

Posted: 24 Nov 2011 08:01 AM PST

Forexpros – Gold futures fluctuated between modest gains and losses on Thursday, after German Chancellor Angela Merkel reiterated her opposition to the creation of euro bonds, adding to concerns over the deepening debt crisis in the euro zone.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,698.15 a troy ounce during early European morning trade, gaining 0.27%.

The December contract traded between a range of USD1,688.65 a troy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Erases Gains As Merkel Comments Weigh

Posted: 24 Nov 2011 07:28 AM PST

Forexpros – The pound erased gains against the U.S. dollar on Thursday, after comments by German Chancellor Angel Merkel added to concerns over the deepening debt crisis in the euro zone.

GBP/USD retreated from 1.5567, the daily high, to hit 1.5517 during European late afternoon trade, slipping 0.04%.

Cable was likely to find short-term support at 1.5494, Wednesday's low and a seven-week low and resistance at 1.5655, Wednesday's high.

Speaking at a joint news conference with France’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Ease Off 8-day High On Profit Taking

Posted: 24 Nov 2011 07:25 AM PST

Forexpros – Natural gas futures fell for the first time in four days in thin holiday trade on Thursday, as investors cashed out of the market to lock in gains from a rally that took prices to an eight-day high earlier.

On the New York Mercantile Exchange, natural gas futures for January delivery traded at USD3.583 per million British thermal units during U.S. morning trade, slumping 1.1%.

Trading volumes were expected to be light with NYMEX Floor trading shut for the U.S. Thanksgiving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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