Oil snaps inverse dollar link leaving little to check its bull run - Reuters.com

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A 3D-printed oil pump jack is placed on dollar banknotes in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

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LONDON, May 26 (Reuters) - Oil's bull run is taking little notice of the strong U.S. dollar, breaking crude's historical inverse link to the greenback and giving analysts confidence it has further to go based on current market fundamentals.

A strong dollar typically weighs on oil prices because it makes the commodity more expensive for holders of other currencies, potentially hurting demand for crude.

This time the dollar is being boosted by its safe-haven appeal as clouds gather over the economic outlook while oil is being driven higher by disruptions to Russian supplies linked to the conflict in Ukraine and strong demand, analysts say.

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The dollar and oil have been moving in the same direction since late March, when the positive correlation hit its highest since May 2019, and analysts expect the link to persist given the tight oil market and broader risks to the global economy.

The usual inverse correlation between oil and the dollar had held fast for most of 2020 and into early 2021 as demand for crude was undermined by the global pandemic.

"Considering that spare capacity is low, there are likely larger supply disruptions ahead of us, and that oil demand will likely keep increasing, I would expect that oil will primarily be driven by its own fundamentals," UBS analyst Giovanni Staunovo said.

Brent crude hit a 14-year high above $130 a barrel in early March due to a tight supply outlook and expectations of significant disruptions to Russian oil output after Moscow sent troops into Ukraine on Feb. 24.

revised correlation chart

Oil is currently trading around $115 a barrel as demand concerns from COVID-19 related lockdowns in the world's top oil importer China and fears of a global economic slowdown tempered concerns about supply.

JPMorgan expects Brent prices to average $114 a barrel over the second quarter as whole, surging to over $120 a barrel in the interim.

The dollar index which measures the value of the U.S. currency against a basket of its rivals hit a two-decade high above 105 earlier this month and is trading less than 3% below those peaks.

High oil prices are threatening the global economic outlook and this in turn tends to benefit the U.S. dollar as it is widely seen as the safe-haven reserve currency of choice among investors.

Russia expects its oil output to fall by more than 8% this year to 480 million to 500 million tonnes as Western sanctions against Moscow because of Ukraine make it harder to find buyers.

The fact that the current energy crisis has been hitting Europe the hardest has also contributed to the disconnect between a stronger dollar and oil prices, analysts say.

"Historically, energy crises and inflationary shocks were centred on the U.S. and hence dollar bearish," MUFG's head of emerging markets research, Ehsan Khoman said.

Europe - which is the region most heavily reliant on Russian energy imports - is now the epicentre of the crisis, and grappling with wide energy trade deficits, he said.

"As coal, gas and oil prices continue to remain elevated on supply scarcity, global growth ex-U.S. is suffering more than the U.S. economy, and by extension, the U.S. dollar is appreciating," Khoman said.

MUFG expects the divergence between the dollar and broader commodities besides oil to continue.

Investec head of commodities Callum Macpherson says that oil's relation to equities was also breaking down.

"Generally oil tracks closely to the S&P 500, but that correlation has disappeared completely, because high energy prices are tightening economic conditions," he said.

King dollar

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Additional reporting by Bozorg Sharafeddine; Editing by David Clarke

Our Standards: The Thomson Reuters Trust Principles.

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May 26, 2022 at 04:57PM
https://www.reuters.com/markets/us/oil-snaps-inverse-dollar-link-leaving-little-check-its-bull-run-2022-05-26/

Oil snaps inverse dollar link leaving little to check its bull run - Reuters.com

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It's back: The AYF's Little Armenia Beautification Project returns after three year hiatus - Armenian Weekly

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Little Armenia Beautification Project 2022 (Photo: Melody Seraydarian)

LITTLE ARMENIA – On Sunday, the Armenian Youth Federation (AYF) Hollywood “Musa Ler” Chapter hosted its annual Little Armenia Beautification Project after a three year hiatus due to the COVID-19 pandemic. Members from multiple AYF chapters and scouting groups alike took to the streets of Little Armenia to clean up. The project began on the campus of Rose and Alex Pilibos Armenian School, located across the street from St. Garabed Armenian Church. The church and the school together serve as the hub of the Armenian community in the area. 

“The Little Armenia Beautification Project is a day dedicated to our home away from home,” says AYF Hollywood “Musa Ler” secretary Serge Arejian. “That is why I feel it is our obligation to ensure that every year we continue this tradition to keep our city clean.”  

Little Armenia has been home for thousands of Diasporan Armenian families for generations, serving as a place of refuge for many Armenian immigrants escaping various political conflicts, ranging from the Lebanese Civil War to the Iranian Revolution. The annual Little Armenia Beautification Project has been a staple of this community for years. 

“The Armenian community, culture and political objectives have been recognized in many forms, such as our beautiful Montebello Genocide monument, but our Little Armenia is a living monument,” says AYF Hollywood “Musa Ler” chair Alique Boyajian. “This church and school are the core of the community.” 

AYF Hollywood “Musa Ler” Chapter chair Alique Boyajian (Photo: Melody Seraydarian)

Equipped with brooms, rakes and trash bags, volunteers of all ages came together on Sunday to pick up pounds upon pounds of litter on the streets. This effort was to tackle waste and pollution and simultaneously give back to the community that has given Armenians so much. 

“AYF members across the globe – through different initiatives and forms of political activism – work hard to make their communities a better place to live,” continued Boyajian. “In that regard, our counterparts in Armenia, living under the constant Turkish and Azeri threats, serve their community and country by fighting for its survival.” 

Founded in 1933, the AYF strives to advance the goals of a free, independent and united Armenia. On Sunday, the AYF Hollywood “Musa Ler” Chapter received awards of recognition and attendance from Councilmember Mitch O’Farrell and his deputy officer George Hakopiants, Arda Tchakian from Senator Anthony Portantino’s office, Christopher Khachadour from Assemblywoman Laura Friedman’s office, and Baydsar Thomasian from Senator Monica Durazo’s office. The AYF-ers also received donated supplies from the Hollywood Beautification Team, which were sponsored and coordinated by Councilmember O’Farrell and Senator Durazo’s offices. They were also assisted and guided by the local Armenian Revolutionary Federation (ARF) Karekin Njdeh Gomideh and Armenian National Committee (ANC) Hollywood. 

“In the last three weeks, the AYF has led tens of thousands of Armenians in the resistance movement against the current Armenian regime,” concludes Boyajian. “This goes to show that the AYF is multidimensional, serves on different fronts and continues to serve the community with pride.”

Little Armenia Beautification Project 2022

Melody Seraydarian

Melody Seraydarian is a writer from Los Angeles, California. She is an active member of the AYF Hollywood “Musa Ler” Chapter. Melody also interns for the Armenian Bar Association and volunteers for various political causes and campaigns, while working on other writing and design projects.

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May 25, 2022 at 11:26PM
https://armenianweekly.com/2022/05/25/its-back-the-ayfs-little-armenia-beautification-project-returns-after-three-year-hiatus/

It's back: The AYF's Little Armenia Beautification Project returns after three year hiatus - Armenian Weekly

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Little by little, this Lightning team will steal your heart - Tampa Bay Times

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TAMPA — All these years later, how do they do it?

Not just the winning. That’s explained easily enough with a stat here and an Andrei Vasilevskiy there.

No, after all the records, awards, championships, farewells, arrivals, injuries, slumps, salary caps, grudges and community heroes, how do they pull off the most remarkable feat in sports?

How do the Lightning make you fall in love all over again?

Because that’s what this group has done. They are two years past the honeymoon and still surprising us every day with new thrills and forgotten sparks.

The temptation is to look at Monday night’s 2-0 victory at Amalie Arena that completed a second-round sweep of Florida, and to think of it simply as a continuation of the back-to-back Stanley Cup titles.

And, in a big-picture sense, that’s accurate enough. But there is more to this story.

The Lightning have become ingrained in Tampa Bay in a way that no other franchise has quite pulled off. Sure, the Bucs have more fans. And the Rays have the benefit of playing America’s Pastime.

But there’s something special about the way the Lightning reinvented themselves after the heartache of the 2019 postseason collapse. They went from a team that dazzled you with skill to a group that impressed you with heart. And two years later, they continue to find ways to remind you of that.

Lightning coach Jon Cooper celebrates victory at the conclusion of Game 4 against the Panthers. [ DOUGLAS R. CLIFFORD | Times ]

“You’ve got to sacrifice so much (of your) body and that’s part of the plan. You have to do it if you want to win,” coach Jon Cooper said. “These guys are playing a game right now, almost like they have not won a Stanley Cup. Like they’re chasing (it) for the first time.”

Twelve days ago, they were on the brink of elimination. A Game 6 overtime against Toronto that could have ended a season, and maybe an era too.

And from the moment Brayden Point scored the overtime winner against the Maple Leafs, the Lightning have been a team reborn. They have won the next five games while giving up a total of four goals.

There was nothing fancy about the way they pulled it off in Game 4 on Monday night. Steven Stamkos didn’t score. Nikita Kucherov didn’t amaze. Victor Hedman didn’t shine.

The Lightning just pulled together to stop a Florida attack that didn’t seem to let up for the first 30 minutes. They blocked shots. They avoided turnovers. They didn’t commit silly penalties.

They whiffed on some scoring chances and had two goals taken away by missed whistles. And not once did you get the sense that they had lost faith or focus.

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And when the third period rolled around, Pat Maroon swiped at a puck in mid-air and put Tampa Bay up for good. By the time the series ended, the Lightning had outscored Florida 8-0 in the third period.

“This team has been very impressive. The way we compete, the way we stick in there every game. We’re warriors, I mean, blocking shots, whatever it takes,” Maroon said. “It’s been tremendous to watch what we’ve been through the last few years and it’s unbelievable to be a part of it.”

And it’s been just as incredible to watch. To see new players integrated into a lineup and gradually learn that this team is different when the calendar turns to May.

They don’t always glide the way they once did. And the victories have seemed harder to come by. The core group of stars are the same, but they have not dominated like years past.

Eleven games into the postseason, Ross Colton and Corey Perry lead the team in goals. Nick Paul has a plus-four rating and Brandon Hagel is a plus-three.

Really, among the team’s biggest names, only Andrei Vasilevskiy has looked consistently stellar. And Monday night he was as good as ever.

Lightning goaltender Andrei Vasilevskiy (88) is congratulated by right wing Corey Perry (10) at the conclusion of the third period. [ DOUGLAS R. CLIFFORD | Times ]

Never before had a goaltender played so pristine in a playoff game that ended in regulation. Vasilevskiy’s 49 saves were the most in NHL postseason history for a non-overtime shutout.

And so now, the Lightning have won a 10th consecutive postseason series. The only franchises that have ever eclipsed that are the 1980s Islanders and the 1970s Canadiens.

“It’s a special group, no doubt. And the beauty of the group is we’re not satisfied. We want 12 straight,” Stamkos said. “When you take a step back and put things in perspective, especially in the salary cap world we’re in and the parity in our league, it’s a very, very special group.”

That it is. They took on a Toronto team that had a franchise record 115 points and a 60-goal scorer, and won in seven games. And then they took on the Presidents’ Trophy winning Panthers and swept them.

There was a time when the Lightning, win or lose, were always the most talented team on the ice. That’s no longer a certainty. You could argue Florida is just as skilled, if not better.

And, in a way, that make the Lightning more endearing than ever. You could look at the Panthers on Monday night and almost see the ghost of who the Lightning used to be.

One team was desperate, the other was determined.

One goaltender was fortunate, the other was fabulous.

One dream was extinguished, the other was granted another day.

John Romano can be reached at jromano@tampabay.com. Follow @romano_tbtimes.

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With Monday's win over the Florida Panthers tonight in Game 4 of their NHL Stanley Cup playoff second-round series, the Tampa Bay Lightning advance to the Eastern Conference final for a third straight season and will have an opportunity to rest as the new York Rangers and the Carolina Hurricanes finish their series.

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May 24, 2022 at 03:50PM
https://www.tampabay.com/sports/lightning/2022/05/24/little-by-little-this-lightning-team-will-steal-your-heart/

Little by little, this Lightning team will steal your heart - Tampa Bay Times

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'It makes me cry': Residents protest as construction begins on Little Turtle Way - 10TV

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May 24, 2022 at 10:30AM
https://www.10tv.com/article/news/local/residents-protest-construction-begins-on-little-turtle-way/530-4d072f0f-8ec6-442d-9962-9d619432668e

'It makes me cry': Residents protest as construction begins on Little Turtle Way - 10TV

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Rashaad Penny resting a “little hamstring thing” - NBC Sports

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Rashaad Penny is attending the Seahawks’ organized team activities, but he is not participating in on-field work with teammates.

Penny is resting a slight hamstring issue, coach Pete Carroll said Monday.

“He’s just got a little hamstring thing that’s still tight,” Carroll said. “We’re just making sure that he’s OK. He’s working out, and he conditioned really well today. He’s running and flying around and all. But he’s not ready (for team drills) where he can’t control the tempo.”

The season remains months away, but Penny’s injury history makes it something to watch. He missed two games his rookie season, six his second season, 13 his third season and seven last season.

That means Penny has played 37 games and missed 28 in his career.

The Seahawks covered themselves at the position by drafting Michigan State running back Ken Walker in the second round.

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May 24, 2022 at 06:44AM
https://profootballtalk.nbcsports.com/2022/05/23/rashaad-penny-resting-a-little-hamstring-thing/

Rashaad Penny resting a “little hamstring thing” - NBC Sports

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If Pfizer's data pans out, when will little kids get the COVID-19 vaccine? - knkx.org

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Updated May 23, 2022 at 10:21 AM ET

A third pediatric dose of the Pfizer-BioNTech COVID-19 vaccine in children 6 months to under 5 years of age prompted a strong immune response, with a safety profile that was similar to placebo, the companies said.

Pfizer's pediatric COVID-19 vaccine has an efficacy of 80.3%, according to a preliminary analysis, and meets "all immunobridging criteria required for Emergency Use Authorization," the company said Monday. The results are based on clinical trials in which kids from six months to age 5 got three doses of the company's vaccine.

Pfizer and its partner, BioNTech, plan to submit the new data to the Food and Drug Administration this week, bringing families with young children one step closer to a long-awaited vaccine.

Also on Monday, the FDA updated the schedule for its vaccine advisory committee, saying it will meet to discuss pediatric COVID-19 vaccines on June 15.

The regimen has three doses

The size of Pfizer's pediatric dose is one-tenth of its adult dose. The company had originally tested a two-dose regimen, but mixed results prompted Pfizer to test a three-dose regimen.

The third dose was "well tolerated among 1,678 children under 5 years of age with a safety profile similar to placebo," Pfzier said as it announced the news.

Kids in the trial received the third shot at least two months after their second dose, the company said, adding that at the time of the vaccine trial, omicron had become the predominant COVID-19variant in the U.S.

So, when could little kids get the vaccine?

Pfizer announced its findings two weeks before what had been FDA's earliest date for to start the review process for young kids' vaccines. The agency had set aside three dates in June for its independent advisory panel to meet and discuss pediatric vaccines: June 8, 21 and 22.

But the FDA updated that schedule on Monday, saying the influential Vaccines and Related Biological Products Advisory Committee, or VRBPAC, now plans to meet on June 15 to discuss vaccinations for kids as young as 6 months.

The VRBPAC will consider applications from both of the makers of the most common COVID-19 vaccines in the U.S.: Moderna asked the FDA last month to authorize a low-dose form of its vaccine for younger children.

Kids from ages 5 to 11 have been eligible for the COVID-19 vaccine since last November. For hints about when younger kids might be able to receive the vaccines, here's a look at how that earlier process played out:

Oct. 7: Pfizer formally asked the FDA for Emergency Use Authorization of its vaccine for children ages 5 to 11, after saying it was found to be safe and effective;

Oct. 22: The FDA released the companies' briefing documents, as well as its own analysis;

Oct. 26: FDA advisory panel recommended Pfizer vaccine for kids ages 5 to 11

Nov. 2: The CDC recommended Pfizer's vaccine for the age group; it becomes widely available within one week afterward.

If the VRBPAC agrees with Pfizer's findings and that timeframe is repeated, it's possible that toddlers, preschoolers and new kindergarteners could be eligible to receive the vaccine within the first weeks of the summer.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

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May 23, 2022 at 06:45PM
https://www.knkx.org/2022-05-23/if-pfizers-data-pans-out-when-will-little-kids-get-the-covid-19-vaccine

If Pfizer's data pans out, when will little kids get the COVID-19 vaccine? - knkx.org

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Families Must Provide More Medical Care At Home, But With Little Training - Forbes