The World Bank is preparing for the world's first blockchain bond

The World Bank has mandated Commonwealth Bank of Australia to arrange the worlds first blockchain bond. The Kangaroo bond referring to foreign bonds issued in Australia in the local currency has been named bondi an acronym standing for Blockchain Offered New Debt Instrument. (Its also a reference to Bondi Beach an iconic spot in Sydney.) According to the institution the bond will be the first in the world to be created allocated transferred [read more]

Here's the best time to buy bitcoin, according to Yale data

The price of bitcoin is known for wild swings after all its a decentralized cryptocurrency that isnt backed by any government.Case in point Wednesday bitcoins price dropped by over 8 percent after reports that the U.S. Securities and Exchange Commission delayed a decision on a new type of financial product around the cryptocurrency. Bitcoin traded near $6450 at 1030 a.m. EST according to industry website CoinDesk.And its seen even more dramatic moves. After starting 2017 at under $1000 the value of a single bitcoin topped $19000 in December 2017 before dropping. [read more]

Walmart and invest $500 million in a Chinese online delivery company

A Chinese online grocery delivery company DadaJD Daojia said on Thursday it has raised $500 million from U.S. retailer Walmart and in its latest round of financing.DadaJD Daojia was formed from the merger of JD Daojia which is JD.coms onlinetooffline business and Dada Nexus a large crowdsourcing delivery platform in China with operations in more than 400 major cities.JD Daojia delivers goods from local supermarkets and other partners via a locationbased smartphone app and has about 20 million monthly active users.By working with strong partners and [read more]

China slaps 25% tariffs on $16 billion worth of US goods

China said Wednesday it will retaliate against the latest round of U.S. tariffs on Chinese imports. The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list as well as fiber optical cables. [read more]

Trump's pressure on trade may force China to act faster on reforms, analysts say

U.S. trade pressure on China could push Beijing to speed up efforts to restructure its economy some local analysts say. President Donald Trump has threatened tariffs on more than $200 billion worth of Chinese goods. After already implementing duties on $34 billion worth of imports his trade office is planning to impose tariffs on an additional $16 billion in Chinese goods on Aug. 23. Chinas Ministry of Commerce has responded [read more]

Bitcoin At $6,270 And After Bombshell From US SEC

The total market capitalization for all cryptocurrencies just fell to its lowest point in 2018.The developments come after the US Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchangetraded fund (ETF). The news triggered a market reaction ultimately sending the total value of all cryptocurrencies down to $227.8 billion on Wednesday the lowest level since November 2017 according to data from CoinMarketCap. The drop to ninemonth lows marks a 10.7 percent depreciation on a 24hour basis. As of press time the market capitalization had [read more]

Tesla has its busiest trading day since 2014 after Musk tweets he plans to take company private

Even after an extended trading delay Tesla had its busiest day on the stock market since 2014. Some 30.4 million shares traded hands on Tuesday after CEO Elon Musk put out a surprise tweet announcing his intention to take the electric car company private at $420 a share. It was the most active day for the stock since February 2014 according to FactSet and [read more]

If you invested $1,000 in Alibaba when it went public, here's how much you'd have now

Alibaba is one of the most prominent Chinese technology names around the world and has a market value of about $463 billion. So far this year its stock price has risen about 3.6 percent with shares hitting highs in June. If you invested in Alibaba four years ago when it made headlines as the thenbiggest initial public offering ever youd have made some decent returns. According to CNBC calculations a $1000 investment made at the [read more]

China stock market plunge will not force the country to give up in its trade war with US

Amid a U.S.China trade war the two major stock indexes in China have lost onequarter of their value from highs this year.Meanwhile the U.S.benchmark the S&P 500 is inches away from setting a record and in three weeks will post the longest bull market in its history.This would seemingly give Donald Trump an upper hand has he maneuvers the trade fight. You can bet that if the U.S. stock market was suffering like that the president would feel the pressure.But not so [read more]

Bitcoin, 'the best house in a tough market,' is bouncing back, says Wall Street bull Tom Lee

Despite bitcoins tumble over the past two weeks Wall Street bull Tom Lee says the cryptocurrency is gradually regaining market share which should comfort bitcoin buffs.The news that we have seen from the SEC saying bitcoins a commodity to ... the potential for an exchangetraded fund is causing investors to decide that bitcoin is the best house in a tough market Lee who is Fundstrat Global Advisors managing partner said on CNBCs Fast Money. He was referring to the U.S. Securities and Exchange Commission (SEC).Bitcoin [read more]

GBP/USD facing 1.29 as hard Brexit fears give the GBP a hard time

The GBPUSD is trading into the bearish side as the new trading week begins to unwind and traders are remaining on edge as Brexit concerns return to the forefront.The Bank of Englands (BoE) Governor Mark Carney stepped up recently and voiced concerns over current Brexit conditions stating that the everrising odds of a hard Brexit scenario are uncomfortably high and UK ministers are warning that European Union leaders in Brussels are at risk of breaking their own laws if they continue to refuse to give up [read more]

Market moves suggest China will blink first in the trade war, but US political pressures hint otherwise, experts say

Trade tensions between the worlds two largest economies have ratcheted up significantly in the past weeks putting pressure on both the U.S. and China to end the standoff. But which side will blink firstThe The U.S. has already imposed tariffs on $34 billion in Chinese imports which were met with retaliatory charges by the Asian nation. After President Donald Trump instructed U.S. Trade Representative Robert Lighthizer to consider raising proposed tariffs on $200 billion in Chinese goods to 25 percent from 10 percent [read more]

Bank of England raises interest rates for the second time since the financial crisis

The Bank of England announced a rate hike despite ongoing uncertainty over the future of the U.K. economy. The Monetary Policy Committee voted unanimously for an increase in rates from 0.5 to 0.75 percent on the back of a strong labor market and credit growth. The central bank said in a statement that if its macroeconomic forecasts proved right the BOE would probably have to increase rates further albeit gradually. In its latest inflation report released Thursday [read more]

Southeast Asian governments, wary about Trump's policies, look to Pompeo for clarity

U.S. engagement with Southeast Asia under President Donald Trump is typically framed as a counter to Chinese dominance in the region. While the issue of Beijings influence will likely come up during Secretary of State Mike Pompeos tour of the area this week it certainly wont dominate his talks with policymakers. Days after announcing a $113 million infrastructure fund for AsiaPacific economies as part of the White Houses IndoPacific [read more]

If you invested $1,000 in Apple 10 years ago, here is how much you would have now

Apple shares hit a historic $1 trillion market cap value on Thursday becoming the first public U.S. company to ever reach the milestone. The stock briefly hit the $207.05 per share price that was needed to bring Apple to the $1 trillion mark before retreating CNBC reports. So if you invested in Apple a decade ago youd probably be feeling pretty good about it today. According to CNBC calculations a $1000 investment made in early August 2008 would be worth [read more]

Apple just updated its share count, here's what it will take to hit $1 trillion in market cap

Apple has a new share price threshold to hit $1 trillion in market value. The company revealed an adjusted outstanding share count of 4829926000 Wednesday alongside the companys thirdquarter results. That factors in hefty stock buybacks and nudges the trilliondollar per share price to $207.05. Investors had previously been looking for a share price of $203.45 to hit the record market cap. Shares of Apple gained [read more]

As Trump's tariffs start to bite, China pledges it'll keep its economy stable

Chinas top leaders on Tuesday pledged economic stability just as data from the worlds secondlargest economy suggested that the country was starting to feel a pinch from U.S. tariffs. In a statement carried by Chinas state media after a meeting of the Politburo a top decisionmaking body of the ruling Communist Party Beijing said it will take targeted measures to solve issues in the economy. The Chinese economy is facing some new problems and new challenges said the [read more]

Starbucks CEO confirms Alibaba partnership, plans to expand delivery to 2,000 stores in China

Starbucks has officially struck a partnership with Alibaba Group with a multipronged plan to boost the beverage companys digital and physical presence in China Starbucks President and CEO Kevin Johnson told CNBC on Wednesday. In the exclusive agreement the global fastcasual chain will leverage all of Alibabas properties including delivery [read more]

Apple sells 41.3 million iPhones, a slight miss

Apple sold 41.3 million iPhones during the quarter ended June 30 which missed Wall Street estimates the company announced Tuesday. Wall Street was looking for 41.79 million iPhones sold during the quarter according to a FactSet consensus estimate. Apple sold 41.03 million iPhones during the same quarter last year. Apple beat Wall Street on the average selling price (ASP) of its iPhones however. Apples iPhone ASP during the quarter was $724 versus Wall Streets $693.59 estimate. [read more]

As Trump's tariffs start to bite, China pledges it'll keep its economy stable

Chinas top leaders on Tuesday pledged economic stability just as data from the worlds secondlargest economy suggested that the country was starting to feel a pinch from U.S. tariffs.In a statement carried by Chinas state media after a meeting of the Politburo a top decisionmaking body of the ruling Communist Party Beijing said it will take targeted measures to solve issues in the economy.The Chinese economy is facing some new problems [read more]

Japan's retail sales pick up, in a positive sign for spending

Japans retail sales climbed more than expected in June due to increased spending on fuel appliances and cosmetics in a positive sign that households are growing more confident in the economy. The 1.8percent annual increase in retail sales in June was more than the median estimate for a 1.6percent annual gain and follows a 0.6percent annual increase in May. The results for June showed retail sales have [read more]

Microsoft health unit is a 'multi-billion dollar business,' medical chief says

The health unit at Microsoft is a multibillion dollar business the companys chief medical officer said on CNBCs new Beyond The Valley podcast. Simon Kos who is a doctor by training joined Microsoft in 2010 and his role is to give guidance on the U.S. companys work in the health care industry. Microsoft has 1100 people working in its health unit and the business claims 168000 customers in the industry. The software giant creates products for hospitals and other institutions within [read more]

Big Gains Help Boost Alibaba's Global Dominance

Alibaba is trying to maintain a torrid growth rate as it moves beyond its home market.Even after a partial selloff Alibaba (NYSEBABA) remains one of the biggest winners of the second quarter. The Chinese ecommerce megafirm reported that quarterly sales had jumped by 76 percent yearoveryear. Those sales are now approaching the $10 billionmark.That gain looks a bit bigger due to the favorable exchange rate. But even denominated in yuan Alibaba revenues were up at least 60 percent.The companys increasing dominance in one of the worlds hottest markets has been no secret with the [read more]

Oil on the high side as US crude inventories decline again, WTI looking for $70

Crude oil prices are seeing gains on Wednesday as expectations of a buildup in US supplies are easing off after data showed a surprise drawdown in US inventories on Tuesday. WTI crude barrels are trading near 69.60 after rebounding from yesterdays low of 68.35.According to the American Petroleum Institute (API) crude inventories in the US fell 3.2 million barrels last week helping to drive a floor underneath oil prices while markets were expecting a drawdown of only 2.3 million barrels.US crude imports also declined last [read more]

Bitcoin jumps above $8,200, adding to cryptocurrency's recovery this week

Bitcoin broke the $8200 level for the first time in two months Tuesday following weeks of bearish sentiment and a lack of new buyers. The worlds largest cryptocurrency surged as high as $8342.62 and rose more than 7 percent in the last 24 hours according to industry website CoinDesk which tracks a number of exchanges. The last time bitcoin traded above that key level was May 23. The digital currency is [read more]

Facebook explains why it's setting up a new hub in China

Facebooks subsidiary in China will be an innovation hub to support local tech talent according to a Facebook spokesperson.We are interested in setting up an innovation hub in Zhejiang to support Chinese developers innovators and startups the spokesperson told CNBCs Julia Boorstin. We have done this in several parts of the world France Brazil India Korea and our efforts would be focused on training and workshops that help these developers and entrepreneurs to innovate and grow.Reuters reported early Tuesday that the social media giant had set up [read more]

‘A storm is brewing’ in the US economy, says economist Diane Swonk

Even if there isnt a fullblown trade war the uncertainty surrounding tariffs can hurt the U.S. economy economist Diane Swonk told CNBC on Tuesday. The tariffs along with a strengthening dollar and rising rates all undermine the competitiveness of manufacturers and other exporters she said in an interview with Closing Bell. The [read more]

Tech Stocks Rise To Record On Big Earning Leading S&P 500 Climbed

Tech stocks rise to record before big earnings         The S&P 500 tech sector climbed 0.5 percent to close at a record helping lift the overall index by 0.2 percent.         Alphabet shares rose 1.1 percent while Facebook closed 0.6 percent higher. [read more]

Chinese investment in Israeli tech is growing, and it's 'quite welcome' for some

As the trade war between Washington and Beijing rolls on and investments from the mainland come under greater scrutiny in the U.S. and Europe Chinese companies are increasingly turning elsewhere. One country poised to gain in investment is Israel. Theres been a secular uptrend in Chinese investment in Israel for the past eight to 10 years but it has been accelerating said Steven Schoenfeld founder and CIO of BlueStar Indexes a firm that develops Israelfocused indexes and exchangetraded funds. [read more]

Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough

Boeing and Airbus have continued their battle to win the most business at the Farnborough International Airshow racking up commercial plane orders worth more than $110 billion. It should be noted that all the prices quoted are the planemakers official list prices with steep discounts likely to be negotiated by buyers. Additionally the gross dollar number includes loose commitments to future deals and updates to previously agreed contracts. The U.S. planemaker Boeing has the initiative inking deals over three days at the show [read more]

Wreck of Russian warship found, believed to hold gold worth $130 billion

A South Korean salvage team has reportedly discovered the wreck of a Russian warship that is believed to still contain 200 tons of gold bullion and coins worth 150 trillion won ($130 billion).The Russian Imperial Navy cruiser Dmitrii Donskoi which was sunk in a naval battle 113 years ago was discovered at a depth of more than 1400 feet about one mile off the South Korean island of Ulleungdo according to The Daily Telegraph.The U.K. newspaper reported that a joint team made up [read more]

Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says

Blockchain and cryptocurrency may one day be as broadly adopted as the internet is today Jeremy Allaire CEO and cofounder of fintech company Circle told CNBC. Its a really fertile space in terms of the fundamental technical and infrastructure Allaire said on Fast Money Wednesday. One major driver for this possible occurrence ethereum. Right now ethereum has an enormous amount of developer activity Allaire said. One of the things that really catalyzed the cryptocurrency market last year [read more]

Fed Chair Jerome Powell Day 2, Testimony To House Financial Committee

Jerome PowellFaces Second Day of Questioning by House CommitteeFederal Reserve Chairman JeromePowell appeared before the House Committee on Financial Services WednesdayJuly 18 to face questioning from lawmakers on the Feds plans going forward.Powell also faced questioning Tuesday.Powell DecriesMinority Employment GapWhile Powell lauded thehistorically low unemployment rate in the U.S. he also noted that AfricanAmericans and Hispanics are still unemployed at a higher rate than whites.Groups with higherunemployment rates have tended to benefit the most as the job market hasstrengthened. But jobless rates for these groups are still higher than [read more]

Trump's approval ratings may hold clues to where US trade disputes are heading

From the tariffs on steel and aluminum imports in March to Julys list of $200 billion in Chinese goods that may be targeted by new American levies the U.S. administrations trade policies have repeatedly caught markets off guard. The U.S.China trade war continues to simmer and the White House is trading tariff threats with other nations so analysts are now looking beyond government pronouncements for alternative indicators that may clue them into where exactly Americas ongoing disputes are headed. [read more]

Mastercard has a new patent that could allow bitcoin transactions on credit cards

Consumers might one day be able to charge their purchases on their credit cards using bitcoin as a currency. On Tuesday Mastercard won a patent to protect a method that would manage fractional reserves of blockchain currency. At present Mastercard holders can only pay for things using currency that the government has declared as legal tender Seth Eisen Mastercards senior vice president for communications said. In the document published with the U.S. Patent and Trademark Office Mastercard said that there has [read more]

Fed Chair Jerome Powell

Federal Reserve chair Jerome Powell is not explicitly concerned about the flattening Treasury yield curve.Speaking before members of the Senate Banking Committee on Tuesday Powell was asked by Senator Pat Toomey (RPa.) about the declining spread between shortterm and longterm Treasury rates. Toomey explicitly referenced the narrowing of the spread between twoyear and tenyear Treasury notes which was sitting at 25 basis as of Tuesday morning the slimmest margin in ten years.The yield curve has become a top of mind issue for investors in recent months because an inversion of [read more]

UK PM May says Donald Trump told her to sue the EU over Brexit

Donald Trump has advised British Prime Minister Theresa May to sue the European Union to resolve the tense negotiations over Britains impending exit from the bloc. The American president told reporters Friday at a joint press conference with May that he had given the British leader a suggestion that she found too brutal. [read more]

China looks to get cozy with the EU in annual talks as Trump tariffs bite

The European Union will open an annual meeting with China on Monday and will be looking to fend off overtures for an antiU.S. alliance as China seeks a European counterbalance to U.S. tariffs. Premier Li Keqiang will host European Council President Donald Tusk and European Commission President JeanClaude Juncker in Beijing where the two sides could reinvigorate longrunning investment treaty talks with the expected exchange of markets access offers for the first time. The meeting is expected to produce a modest communique [read more]

China says its second-quarter GDP growth was 6.7%, meeting expectations

China on Monday posted secondquarter GDP growth of 6.7 percent from a year ago slightly lower than 6.8 percent in the first quarter of 2018 as Beijing has been cracking down on risky credit amid escalating trade tensions with the U.S. The official reading was in line with expectations from analysts polled by Reuters. The headline figure was no surprise as [read more]

France scores 2nd World Cup title with 4-2 win over Croatia

France has clinched its second World Cup title with a 42 win over Croatia. The dramatic final in Moscow featured a series of firsts and a pitch invasion orchestrated by Russian protest group Pussy Riot. France led 21 at halftime courtesy of the first owngoal and the [read more]

New tariffs threatened by the US would be more harmful to China than the first batch, says bank CEO

The proposed U.S. tariffs on an additional $200 billion in Chinese goods would hit the worlds secondlargest economy more severely than the previous custom duties did according to the chief executive of Southeast Asias largest bank. Thats because the latest list of targeted Chinese goods includes a greater number of finished products which can be replaced by similar ones from other sources Piyush Gupta the CEO of Singapores DBS Bank said on Friday. The Trump administration on Tuesday [read more]

US Q2 2018 Earning Season Kick-off Today, Here $ Things You Need To Know

The secondquarter earnings season will start in earnest this Friday with the first reports from big U.S. banks and investors are expecting the overall numbers to be strong.But against a backdrop of trade war concerns rising inflation a stronger dollar and tensions with many of Americas closest allies companies are likely to be cautious in offering guidance. The Trump Administration late Tuesday unveiled 10% tariffs on another $200 billion in Chinese goods. Beijing immediately promised retaliation.Without the trade war everything was in place for capital spending to rise and pull up real yields and wages [read more]

The US is on track to lose this trade war, economist Stephen Roach says

The U.S. and China are aged in the early innings of a trade war and prominent economist Stephen Roach says its the United States thats on track to lose. Trade wars are not easy to win. Theyre easy to lose and the U.S. is on track to lose this trade war Roach a senior fellow at Yale University and former Morgan Stanley Asia chair told CNBCs Squawk Box on Thursday. This is live ammunition. This is not just rhetorical [read more]

Australia: Strong economic releases - TDS

Analysts at TD Securities note that the Westpac consumer confidence index for Australia jumped to its highest level since November 20013 and registered its biggest monthly gain since May 2016.Expectations rose strongly over the month up 5.1% mm but gains in confidence were broad based. The economic outlook 5 years ahead was particularly notable up 9.8% mm.Home loans were stronger than expected up 1.1% mm in May (consensus 2.0% mm) following a revised drop of 0.9% mm in April. In terms of the breakdown investment lending remains weak dropping 0.1% mm while owneroccupier [read more]

China: Trade war escalates with US - TDS

The escalation of the trade war with the US administration moving forward with imposing tariffs of 10% on an additional $200bn of Chinese goods should not come as a major surprise according to analysts at TD Securities. Key Quotes President Trump had asked the US Trade Representatives office to draw up a list last month and according to US officials the lack of negotiation from China has led this action. The tariffs are scheduled to take effect after the [read more]

Trump: 'I have confidence' that Kim Jong Un will honor deal, but China may be working against it

President Donald Trump tweeted Monday that he is confident North Korean leader Kim Jong Un would honor an agreement they reached last month to pursue denuclearization.I have confidence that Kim Jong Un will honor the contract we signed & even more importantly our handshake. We agreed to the denuclearization of North Korea Trump tweeted. China on the other [read more]

Jeremy Hunt named UK foreign secretary after Boris Johnson resigns over Brexit controversy

Jeremy Hunt will replace Boris Johnson as the U.K. foreign secretary following Johnsons resignation Downing Street said in a statement Monday. Johnson resigned earlier in the day in protest against the governments decision to maintain close ties to the European Union. The Queen has been pleased to approve the appointment of Rt Hon Jeremy Hunt as Secretary of State for Foreign and Commonwealth Affairs British Prime Minister Theresa May said in a statement. Hunt [read more]

Pompeo sees hard road ahead but pursues North Korean denuclearization talks

U.S. Secretary of State Mike Pompeo brushed off North Korean accusations of gangsterlike diplomacy during negotiations in Pyongyang saying on Sunday he will pursue denuclearization talks after meeting his Japanese and South Korean counterparts. Pompeo said in Tokyo there was still a lot of work to do but he was confident North Korean leader Kim Jong Un would stick to a commitment to abandon nuclear weapons he [read more]

What data scandal? Facebook's stock notches an all time high, shrugging off user privacy woes

Facebooks stock closed at a record on Friday gaining nearly 5 percent as the company shook off the effects of a privacy scandal that engulfed it earlier this year.The social networks shares soared to an alltime intraday high of $203.64 a share before closing at a new record just below that price. That translated Facebooks market value to nearly $590 billion.Facebooks move pushed CEO Mark Zuckerbergs net worth closer to the top of the list in rankings [read more]

US June 2018 NFP

Investors will be looking to the U.S. nonfarm payrolls this Friday NYC time 0830am and if the jobs report is strong US dollar stands poised to rise and break out of its recent range and US stocks market to continual it gain for this week [read more]

Japan Government To Forecast Bullish CPI, GDP Growth In FY2019

TOKYO (Reuters) Japans government is set to forecast overall consumer price growth of 1.5 percent in the fiscal year that starts in April 2019 a draft document obtained by Reuters showed on Friday indicating some progress toward an end to deflation.The Cabinet Offices projections due to be submitted to the Council on Economic and Fiscal Policy governments top economic panel on Friday showed the economy likely to grow 1.5 percent in priceadjusted real terms in fiscal 2019. It is expected to expand 2.8 percent in nominal terms.The governments [read more]

Trump says China could face more than $500 billion in US tariffs

President Donald Trump said on Thursday tariffs on $34 billion worth of Chinese goods will kickin at 1201 a.m. EST on Friday morning. Another $16 billion are expected to go into effect in two weeks he said. Aboard Air Force One on his way to a rally in Montana Trump told [read more]

Oil: Prices have rallied, but OPEC will be key - NAB

Oil prices have reached a new level over the last few months with Brent briefly touching US$80bbl in May but the last month has seen prices moderately lower generally in the midtohigh 70s range points out the analysis team at NAB. Key Quotes WTI has traded at a substantial discount although this has evaporated over the last week amid unchanged US production but large inventory drawdowns. A key driver of the rise in prices has been the OPECRussia deal to cut oil output compounded [read more]

China reportedly aims to tackle 'uncertainties' in employment with incentives to boost job creation

China will offer incentives aimed at encouraging firms to create and maintain jobs as it tries to head off uncertainties in employment the official China Daily said on Thursday. No jobs means no wealth creation and possibly less social stability the newspaper quoted Premier Li Keqiang as saying during a meeting of the State Council on Wednesday. It said the priority would be to find work for college graduates veterans and laid off [read more]

Trump demands that OPEC do more to stabilize oil markets and 'reduce pricing now'

President Donald Trump issued a new demand for the worlds leading oil producing countries to stabilize oil markets with more supply only days after the United States and Saudi Arabia discussed the possibility of the kingdom releasing more of its own crude to dampen surging prices.On Twitter Trump called on OPEC countries fresh from a meeting in which they decided to raise oil output by an indeterminate amount to do more to bring down crude prices. Trump indirectly linked U.S. foreign policy to [read more]

Trump knocks Harley-Davidson again, says administration working to bring other motorcycle companies to the US

President Donald Trump is blasting HarleyDavidson again for announcing its shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties.Trump said Tuesday that his administration is talking with other motorcycle companies about moving to the U.S.Now that HarleyDavidson is moving part of its operation out of the U.S. my Administration is working with other Motor Cycle companies who want to move into the U.S. Harley customers are not happy with their move sales are down 7% in 2017. The U.S. is [read more]

China's big bond experiment is about to go through a rough patch

One year ago China made a major move to open up its domestic or onshore bond market. But the sector is now facing [read more]

Three quarters of big UK firms downbeat on Brexit in new survey

A record 75 percent of major British companies are now pessimistic about Brexit a survey showed on Monday adding to signs of anxiety around the economy as Britains divorce with the European Union draws near.Weak investment and waning expectations for sales marked Deloittes latest quarterly survey of chief financial officers (CFOs) watched by the Bank of England as a gauge of business confidence.The proportion of CFOs who said Brexit was likely to hurt the business environment was up from 68 percent in the previous Deloitte CFO survey published in April.With [read more]

Trump's trade threats could end up boosting China's global economic clout

As the United States increasingly confronts China over trade and turns away from decades of championing lower tariffs Beijing is seen getting a boost from its globespanning and heavily marketed investment program. Chinas Belt and Road Initiative is a massive infrastructure project that covers more than 80 countries claims to seek the revival of historic Silk Road trade routes. Nomura estimates it could be worth at least $1.5 trillion in investments over the next 10 [read more]

What to expect from a Trump-Putin summit

Expectations about a summit between the leaders of Washington and Moscow are increasing but just what subjects could be on the table remains a matter of speculation. The meeting is reportedly eyed to take place around the NATO summit in midJuly around the time of U.S. President Donald Trumps visit to the United Kingdom. On Wednesday a Kremlin aide said the time and venue of the summit would be announced [read more]

Fed's Effort To Control The Rise Of Key Interest Rate Is Running Into Some Problem

The Feds effort to control the rise of its key interest rate is running into some problemsThe Fed in June approved a change in the interest it pays on excess reserves in an effort to control the rise of the funds rate the benchmark by which the central bank sets rates broadly.However the difference between the funds rate and IOER has gotten even closer since then signaling that the move may not have worked as planned.For investors the issue means that the Fed may have to ease its expected [read more]

Trump won't play ball on trade, so Europe is going straight to China

With President Donald Trump shaking the world trade order the European Union is working with China to ensure that multilateral trade doesnt come to an abrupt end. European and Chinese officials are taking steps to strengthen their trade ties but based on a multilateral approach a system by which international trade has evolved over the past few years. However making trade accords with multiple countries is something that Trump opposes on the basis that it has had [read more]

Bitcoin In 190 Days Correction

BitBitcoin bounces back but prices could fall again venture capitalist saysBitcoin bounced back Monday priced around $6200 530 p.m. ET.But blockchain venture capitalist Spencer Bogart says bitcoin might fall again as the fund redemption cycle for many crypto hedge funds complete their oneyear cycle.That means forced selling on behalf of all of these new crypto funds that have popped up Bogart says. I think that could take prices artificially lower.Bitcoin bounced back Monday after falling below $6000 on Friday. But blockchain venture capitalist Spencer Bogart who said [read more]

Trump is reportedly planning major new restrictions against China

President Donald Trump plans to bar many Chinese companies from investing in U.S. tech and to block additional technology exports to China The Wall Street Journal reported on Sunday evening citing people familiar with the matter.The two measures are set to be announced by the end of the week and are intended to counter Beijings Made in China 2025 a Chinese initiative to be a [read more]

Plenty Of Economic News This Week

With the exception of Monday there will be crucial economic releases coming out every day this week with the Conference Board Consumer Confidence highlighting Tuesdays session and the durable goods report the final GDP print and the Chicago Purchasing Managers Index being released on Wednesday Thursday and Friday respectively. Although its unclear how the current divergences will be resolved the Gorilla is confident that with the current fundamental backdrop any correction should be treated as a buying opportunity especially after the lengthy consolidation of the recent months. The strength [read more]

OPEC Increase Output Price Fell On Monday Morning Trade

Oil prices fall on expected output rise in wake of OPEC deal Brent crude oil prices fell over 1.5 percent on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.Brent crude futures LCOc1 the international benchmark for oil prices were at $74.21 per barrel at 0343 GMT down 1.8 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.40 a barrel down [read more]

UK Treasury Pump In 1.2 Billion Pound Into BoE

Mark Carney said the Bank of England needs to adapt to the unprecedented changes in the global economy and the financial system as he unveiled another overhaul of the institutions powers.Under a new framework outlined Thursday the U.K. Treasury will pump 1.2 billion pounds ($1.6 billion) of capital into the BOE which in turn will have the ability to take on greater [read more]

DJI On 8th Day Down Day, Nasdaq Biggest 1 Day Drop Since April

U.S. stocks closed solidly lower on Thursday with major indexes suffering one of their worst sessions of the month and the Dow Jones Industrial Average extending its losing streak to an eighth day as fears of a potential global trade war continued to weigh on investor sentiment.What did the benchmarks doThe Dow Jones Industrial Average DJIA 0.80% fell 196.1 points or 0.8% to end at 24461.70. The bluechip averages losing streak matches its longest since March 2017. If it extends the losing streak to nine sessions on Friday it will match [read more]

GE Out Of Dow Jones Industrial Average Components

General Electric shareholders should rejoice at the Dow removalGoldman Sachs tells its clients that recent stock removals from the Dow Jones industrial average outperform in the year after the announcement.AT&T shares rose 15 percent in the 12 months after it was replaced by Apple in the Dow versus the S&P 500s 2 percent decline during the same time period.After more than 100 years as a component in the Dow Jones industrial average General Electric will be replaced by drugstore chain Walgreens Boots Alliance next week.But GE investors [read more]

Fed Powell Spoke Of

Jerome Powell chairman of the U.S. Federal Reserve spoke of continued gradual increases in U.S. interest rates at a conference in Portugal on Wednesday.As the economy recovered the need for highly accommodative monetary policy was clear Powell said. But with unemployment low and expected to decline further inflation close to our objective and the risks to the outlook balanced the case for continued gradual increases in the federal funds rate is strong.He was speaking a week after [read more]

Iran Could Agree To OPEC On Production Increase.

Oil prices drop as Iran signals support for OPEC output riseOil prices fell on Thursday as Iran signaled it could be won over to a small rise in OPEC crude output potentially paving the way for the producer cartel to agree on a supply increase during a meeting on Friday.However prices were prevented from dropping further by record refinery runs in the United States and a large decline in crude inventories a sign of strong fuel demand in the worlds biggest economy.Brent crude futures LCOc1 were at $74.51 per [read more]

Australian Asia Pacific Shares Lower On Escalating US-China Trade Tensions

Asian shares decline after an escalation in USChina trade tensions as oil extends lossesAsian markets fell on Monday as investors digested U.S.China trade tensions.The U.S. said it will impose tariffs on $34 billion in Chinese goods beginning July 6. China quickly announced its retaliation.Oil prices extended losses amid trade jitters and ahead of OPECs meeting later this week.Major Asian markets fell on Monday as investors digested the escalation in trade tensions between the U.S. and China after both countries announced [read more]

Dollar Mostly Firm As Fed Sees More Rate Hikes

Dollar mostly firmer as Fed sees more U.S. rate hikesNEW YORK (Reuters) The dollar ended steady to modestly higher on Wednesday hitting a threeweek high against the yen as Federal Reserve officials saw the likelihood of two more interest rate increases for a total of four in 2018 based on a solid economic outlook.The greenbacks bounce tied to the Feds perceived hawkish stance faded as traders booked profits in advance of the European Central Banks meeting on Thursday where policymakers may [read more]

Gold Trades Higher On Rate Hike But Settle Under $1,300

Gold settles higher then falls back under $1300 after Fed lifts key interest rateGold prices settled with a modest gain on Wednesday then fell back under the $1300anounce level in electronic trading as a benchmark U.S. dollar index headed higher in the wake of the U.S. Federal Reserves decision to lift a key interest rate.The Fed statement is more hawkish reflecting the apparent signal of an additional rate increase in 2018 said Rob Haworth senior investment strategist at U.S. Bank Wealth Management so higher rates [read more]

Cramer On Fed Rate Hike: 'Owning Stocks Just Got Harder,' But That's No Reason To Panic

Cramer on Fed rate hike Owning stocks just got harder but thats no reason to panicCNBCs Jim Cramer breaks down what the Federal Reserves Wednesday interest rate hike means for investors.Even though stocks fell in response to the hike the Mad Money host says theres no reason to panic.The Federal Reserves Wednesday interest rate hike the central banks second for 2018 shouldnt stir legitimate worry among investors CNBCs Jim Cramer said Wednesday.As the Dow Jones industrial average fell nearly 120 points after the Fed implemented its quarterpoint [read more]

US Investors Shrugged Off US DPRK Summit, DJIA Closed Lower

Investors largely shrugged off a landmark summit between President Donald Trump and North Korean leader Kim Jong Un Tuesday but fevered afterhours trading commenced in U.S. stocks following a federal judges ruling that AT&T Inc. can proceed with its planned acquisition of Time Warner Inc.Just after the Dow Jones Industrial Average closed down 1.58 points or less than 0.1% at 25320.73 U.S. District Judge Richard Leon announced his decision rejecting the Justice Departments allegations that the deal would suppress competition in the payTV industry. The ruling [read more]

Bitcoin Trying To Establish $6,000 Foundation

Has Bitcoin been building support above $6000Since declining sharply on Sunday the digital currency has fluctuated largely between $6600 and $6900 according to the CoinDesk Bitcoin Price Index (BPI).Over the last few hours the cryptocurrency has moved slightly below that range falling to as little as $6455.92 by 1915 UTC (315 p.m. EST) additional BPI figures show.At the time of report the digital currency had recovered slightly trading at $6555.70.Ed note Investing in cryptocoins or tokens is highly speculative and the [read more]

Fed To Hike Rate On Wednesday, This Is What You Need To Know

The Fed is hiking rates Wednesday but heres what else you need to knowThe Fed is expected to announce a quarterpoint interest rate hike when it wraps up its June meeting Wednesday afternoon but that rate hike is widely anticipated and there are a few other things that could stir up markets more.The Fed could [read more]

No matter what, the Trump-Kim summit looks likely to upend Asia's strategic situation

Tuesdays meeting between President Donald Trump and North Korean leader Kim Jong Un could alter Asias security situation regardless of whether the leaders reach an agreement. First the heart of any potential deal is centered on the definition of denuclearization. Pyongyang has previously said it may only dismantle nuclear weapons if Washington removes its 28500 troops from South Korea [read more]

Trump tells Kim 'we'll have tremendous success together'

U.S. President Donald Trump and North Korean leader Kim Jong Un met facetoface Tuesday morning for their highly anticipated summit. After briefly shaking hands and taking a photo sidebyside the two leaders moved to another room where they sat and made brief statements for the press. Were going [read more]

Trump says he'll know 'within a minute' whether Kim Jong Un is serious about giving up weapons

The Singapore summit between the United States and North Korea is a onetime shot and a mission of peace President Donald Trump said Saturday. Trump and North Korea leader Kim Jong Un are slated to meet in person in Singapore on Monday night ET. The U.S. wants North Korea to give up its nuclear weapons permanently. Trump says hes confidant something positive will happen at the summit. An official deal between the countries is largely unexpected. I feel that Kim [read more]

US and Canada spar after G7, with White House's Kudlow denouncing 'stab in the back'

In the end the long charm offensive by Canadian Prime Minister Justin Trudeau to avoid the ire of U.S. President Donald Trump failed just hours after success seemed closest with Trump raining insults as Trudeau closed what seemed like a triumphant global summit. Aside from the escalated risk of a trade war Trumps blistering personal attack on Trudeau poses domestic economic and political [read more]

There's an increased risk of armed conflict if the US-North Korea summit fails

If diplomatic talks between President Donald Trump and North Korean leader Kim Jong Un dont produce any kind of agreement on the rogue states nuclear weapons program that could bolster Washingtons appetite for military action strategists warned. The leaders are due to hold a summit on June 12 following a tumultuous 2017 that saw both exchange heated insults against the backdrop of Pyongyangs frequent [read more]

Japanese Prime Minister Shinzo Abe faces pressure to join trade war against the US

President Donald Trumps meeting Thursday with Japanese president Shinzo Abe was billed as a conversation about upcoming peace talks with North Korea. But with steep tariffs on imports of Japanese steel and aluminum and threats of levies on Japanese cars the topic of tense trade relations between the two countries was the elephant in the Oval Office. The meeting with Abe comes as Trump prepares for a gathering in [read more]

Trump Spars With Trudeau, Macron On Trade Ahead Of G7 Summit

         On Friday Trump is scheduled to attend the annual summit and meet with leaders from the U.K. Canada Japan Italy Germany and France.         In a tweet Trump accused Canada and France of levying massive tariffs and creating nonmonetary barriers.         He has repeatedly lashed [read more]

G7 Meeting, 2nd Chance To Avoid A Global Trade War

G7 meeting the next chance to head off possible global trade implosionLeaders of the worlds biggest advanced economies will meet in Canada this weekend for a G7 summit like no other.As trade tensions continue to escalate German Chancellor Angela Merkel predicts it will be a contentious meeting.The trade conflict began in March when US President Donald Trump put tariffs of 25 percent on imported steel and 10 percent on imported aluminum citing national security.But the conflict ramped up last week when an exemption for close [read more]

'Pragmatic' Beijing is what's stopping US and China from a 'blow up,' former central banker says

Among the countries that the U.S. has taken issue with China has stood out for knowing how to handle President Donald Trumps administration to avoid worsening conflict former Indian central bank governor Raghuram Rajan said Tuesday. In fact Rajan said at the Nomura Investment Forum in Singapore its the pragmatism on the part of the Chinese leadership that has prevented tensions between the worlds two largest economies from escalating. Trump has said unfair Chinese practices are to blame for the wide trade balance between the [read more]

Coinbase acquires Keystone Capital in bid to become a regulated broker-dealer

Leading U.S. cryptocurrency exchange Coinbase announced it would acquire securities dealer Keystone Capital in a bid to become a fully SECregulated broker dealer the company said Wednesday. If approved Coinbase will soon be capable of offering blockchainbased securities under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) Coinbase President and Chief Operating Officer Asiff Hirji said in a statement. This step forward is being made possible by our [read more]

China is working to change global commodities trading — to its own benefit

Chinese exchanges are wooing international commodities traders in a bid to overtake longstanding benchmark prices many of which are set in Europe and the U.S. reflecting ambitious plans by the worlds secondlargest economy to expand its influence overseas. In the last few months Chinese exchanges have opened up the trading of derivatives products for a few major commodities to international participants. Those include crude oil [read more]

Tesla reveals plans for a new factory in Shanghai at shareholder meeting

At a shareholder meeting on Tuesday Teslas head of worldwide sales Robin Ren revealed that the company plans to build its first factory outside of the U.S. in Shanghai. The Chinese government recently announced that it will allow foreign electric vehicle makers to fully own autofactories there. Teslas move into China is hotly anticipated as building some vehicles there would allow the company to avoid import [read more]

UK government clears Fox's bid for broadcaster Sky, pending the sale of Sky News

Britains government said Tuesday it was now prepared to give TwentyFirst Century Fox the provisional goahead to buy Sky subject to the sale of its Sky News channel. If approved it could pave the way for a dramatic bidding war with U.S. media giant Comcast. Culture Secretary Matt Hancock said Foxs proposal to divest Sky News to Disney or any other suitable buyer was likely to be the most proportionate [read more]

Trump contemplating separate trade deals with Canada and Mexico instead of NAFTA fix, says economic advisor Kudlow

President Donald Trump is very seriously contemplating separate trade negotiations with Canada and Mexico White House economic advisor Larry Kudlow said Tuesday. Its not clear whether pursuing bilateral trade agreements with the two countries would effectively end the trilateral North American Free Trade Agreement which has been in place for more than two decades. Yesterday we met with the president a couple times and he is very [read more]

Apple co-founder Steve Wozniak hopes bitcoin will become a single global currency

Twitter CEO Jack Dorsey recently said he believes bitcoin will become the single global currency something that Apple cofounder Steve Wozniak hopes will happen. I buy into what Jack Dorsey says not that I necessarily believe its going to happen but because I want it to be that way that is so pure thinking Wozniak told CNBC on Monday. Wozniak bought bitcoin when it was $700 over $6700 less than where the cryptocurrency was trading [read more]

The oil market is doing something it hasn't done in 3 years — and it's bullish for crude

The spread between West Texas Intermediate and Brent crude futures prices has widened to new extremes recently and this is a bullish development.The spread has reached more than $11 the largest since mid2015. WTI is trading a little over $65 per barrel while European Brent crude the international benchmark for oil is trading near $76. This is more than double the size since the beginning of May and this deep discount will become extremely attractive as producers work through the pipeline [read more]

US trade talks appear to be at 'a low' with China and allies

U.S. trade negotiations appear to have gotten even stickier as the U.S. commerce secretary left China empty handed and President Donald Trump gets set to meet an unhappy group of world leaders at the end of the week. The Trump administration last week turned trade threats into action by slapping tariffs on steel and aluminum from Canada Mexico and Europe all of which have retaliated and are fighting the U.S. move at the World Trade Organization. The heads of Canada Japan German France the U.K. and [read more]

The next 9/11 will be a cyberattack, security expert warns

A cyberattack of devastating proportions is not a matter of if but when numerous security experts believe. And the scale of it one information security specialist said this week will be such that it will have its own name like Pearl Harbor or 911. The more I speak to people the more they think that the next Pearl Harbor is going to be a cyberattack cybersecurity executive and professional hacker Tarah Wheeler told a panel audience during the Organization for [read more]

Trump and Putin may meet at a summit to discuss thorny issues: Wall Street Journal

Early discussions for a meeting between U.S. President Donald Trump and Russian President Vladimir Putin are said to be underway The Wall Street Journal reported Friday citing sources familiar with the matter.U.S. ambassador to Russia Jon Huntsman has been in Washington for a monthslong effort to arrange a formal meeting between the two leaders the publication said citing a senior administration official.The purpose of a summit would be to resolve thorny [read more]

Global airlines issue warning over trade tensions

Global airlines and aviation executives warned on Sunday about growing international trade tensions saying they could damage the airline industry and the world [read more]

Trump administration plans to impose tariffs on EU steel and aluminum: Sources

The White House is not planning on extending the European Union exemptions from steel and aluminum tariffs CNBC has confirmed.The Trump administration is expected to make an announcement Thursday sources close to the situation confirmed with CNBC.The Wall Street Journal first reported the news.Shares of U.S. Steel gained about 5 percent in afterhours trade. Alcoa shares rose 2 percent postmarket while AK Steel gained 5 percent.Earlier this year President Donald Trumps administration had imposed new tariffs of 25 percent [read more]

The digital teaching platform set up by school friends that’s now used by millions worldwide

Long hours reams of marking and timeconsuming planning theres little doubt that teachers work hard for their monthly pay check.While many classrooms today are packed with technology the broad aim of teaching remains the same to inform motivate and enrich the lives of students.One company set up by former schoolmates is looking to give teachers an extra boost through digital innovation. Firefly is a platform that enables teachers and students to access a range of educational information online. It was established [read more]

Italy's power struggle could be a flashpoint for market 'contagion'

The contagion risks from a potential Italian implosion should concern market participants once again according to analysts. The euro zones thirdlargest economy is currently in the midst of an ongoing power struggle with investors fearful the looming prospect of snap elections could be fought over the countrys role in the European Union and its membership of the single currency. Romes deepening political crisis has prompted a second consecutive session of heavy selling in European financial markets Tuesday with stocks [read more]

Billionaire George Soros outlines his plan to save Europe

The Hungarianborn billionaire George Soros has offered a threepoint plan in order to preserve the status of the European Union. Europes alliance has been under strain as bigger more powerful countries demand that those with struggling economies rein in their spending to reduce debt. This enforced austerity has led to high unemployment in countries such as Greece and Italy. Added to the mix was a migration spike from the Middle East and [read more]

Microsoft is now more valuable than Alphabet — by about $10 billion

When Google first passed Microsoft in terms of stock market value six years ago it looked like the companies were headed in opposite directions. But over the past 12 months Microsoft has surged 40 percent more than five times Alphabets gain and has again become the more valuable of the two. As of Tuesdays close Microsoft was worth $749 billion and Alphabets market capitalization stood at $739 billion. Microsofts latest rally has been sparked by growth in its [read more]

Trump administration is telling Congress it has an agreement to save China's ZTE: Reports

President Donald Trumps administration is telling Congress it has come to an agreement to boost Chinese telecommunications company ZTE The New York Times and Reuters reported. As part of the deal ZTE would pay a financial penalty revamp its management and hire American compliance officers the Times reported citing a person familiar with the matter. The U.S. would scrap a ban on the company buying American products under the agreement the newspaper said. It is unclear how firm the reported deal is at this [read more]

Koreas discussing possible non-aggression pledge, peace treaty talks ahead of N.Korea-U.S. summit

North and South Korea are discussing a possible nonaggression pledge by the United States to the North and a start of peace treaty talks to address Pyongyangs security concerns before a North KoreaU.S. summit a senior South Korean official said on Sunday. South Korean President Moon Jaein and North Korean leader Kim Jong Un held a surprise second meeting on Saturday after U.S. President Donald Trump called off his talks [read more]

Fed relying on biased data that makes 'B-minus economy' look like an 'A+

A veteran market researcher is out with a warning saying the Federal Reserve is relying too heavily on economic surveys skewed by social media to mold their policies. According to Bianco Research President James Bianco most economists mistakenly believe that leading indicators are signaling an A economy that can withstand rising interest rates. Its more like a B economy he told CNBCs Trading Nation on Friday. Its not this screaming home run that everybody thinks it is based [read more]

'Biggest' change in oil market history: Crude prices set to soar ahead of shipping revolution

Instead of OPEC Iran or even Venezuela the most prominent driver of oil prices over the next two years is likely to come in the shape of a shipping revolution analysts have warned. New rules coming into force in approximately 18 months time are seen as a source of great concern for some of [read more]

Trump says US military 'is ready if necessary' after Kim Jong Un summit cancellation

President Donald Trump said Thursday that the U.S. military stands ready if necessary following his cancellation of a planned summit with North Koreas Kim Jong Un ramping up already tense rhetoric exchanged between Washington and Pyongyang. The president throwing aside his conciliatory rhetoric called the meetings cancellation a great setback for the world. Touting a greatly enhanced American military and the power of U.S. allies Trump warned Kim against taking foolish or reckless action. I have spoken to South Korea [read more]

Apple, spurned by BMW and Mercedes, signs deal with Volkswagen for driverless cars

Apple had already curtailed its grand vision for disrupting the automotive industry by building its own selfdriving car. Now the tech giant has narrowed its auto aspirations even further. Automotive industry by building its own selfdriving car. Now the tech giant has narrowed its auto aspirations even further. For the past several years Apple sought partnerships with the luxury carmakers BMW and MercedesBenz to develop an allelectric selfdriving car according to five people familiar with the negotiations who asked not to [read more]

North Korea says future of summit with US is up to Washington: State media

North Koreas vice foreign minister said the future of the summit between Pyongyang and Washington is entirely up to the United States and condemned a media interview by U.S. Vice President Mike Pence in which he compared the North to Libya. We will neither beg the U.S. for dialogue nor take the trouble to persuade them if they do not want to sit together with us said Choe Son Hui according to a report by North Koreas central news agency on Thursday. Choe [read more]

Oil prices have been given a boost, but they could struggle to head higher

Oil prices have climbed in recent weeks but whether that rise will continue for longer could be in doubt. On a 12month basis which is the horizon we take we think were more likely to be in sort of a $55 to $75 range which is a little bit lower than where we are today Manpreet Gill head of fixed income currencies and commodities investment strategy at Standard Chartered Private Bank [read more]

Markets are failing to appreciate how much further earnings have to grow, asset manager says

Drew Angerer Getty ImagesTraders and financial professionals work on the floor of the New York Stock Exchange.The U.S. may be close to the peak of its earnings cycle but earnings still have room to climb and markets are failing to reflect that potential according to asset manager NN Investment Partners (NNIP). Investors seem [read more]

Bitcoin Cash Is A Must-Own Says Billionaire Cryptocurrency Investor Brian Kelly

Brian Kelly the founder and CEO of BKCM LLC an investment company focused on cryptocurrencies came out bullish on Bitcoin Cash (BCH) on CNBC May 21.On Saturday BCH miners reportedly had a meeting dedicated to funding for a BCH development fund. Miners are looking to allocate some part of the reward they receive from mining and invest it to expand the BCH ecosystem Kelly explained. The fund development could aid the rise of the cryptocurrencys value. He continuedThats how blockchains gain value. Youre going to be getting more use cases to the extent that usefulness [read more]

Asian stocks ease after global markets get a boost from US-China trade news

Asian markets were subdued early on Tuesday despite gains seen on Wall Street on the back of an apparent cooling in recent U.S.China trade tensions. In Japan the Nikkei 225 tracked lower by 0.1 percent in morning trade after starting the session with slight gains. The broader Topix slipped 0.15 percent with most of its 33 subsectors trading lower although steelmakers and oil names notched gains. Elsewhere Australias S&PASX 200 shed 0.33 percent [read more]

US-China trade agreements are face-saving and lose-lose, says Moodys chief economist

Triumphant tones coming from the White House over the weekend are inconsequential Moodys chief economist said Monday deflating hopes that the U.S. is gaining major ground in its negotiations with China aimed at averting a trade war. I think its a loselose. There are no winners here Mark Zandi told CNBCs Squawk Box Europe on Monday. This is facesaving because clearly theyre not going come to terms on anything at least not in the nearteam. Zandi [read more]

Deadly virus identified as a potential epidemic kills nine in India

A deadly virus described by the World Health Organization (WHO) as having the potential of becoming the next deadly major outbreak has killed nine people in the southern Indian state of Kerala. State health officials confirmed that three people had contracted the Nipah virus within the past fortnight. The first death was reported to government officials on Saturday. The Nipah virus claimed the life of a nursing assistant Monday who had treated a patient who had died of the disease according to local media. [read more]

US economic growth may be the Fed’s Achilles' heel on its path to higher rates, market watcher says

The Federal Reserve is all but guaranteed to raise interest rates in June according to many investors and Wall Street economists. Beyond that the central banks options are limited by one critical factor according to one market watcher. While you have inflation and jobs numbers that are very Fed pleasing youve got to watch out for that growth number which is expected to be somewhere in the range of 3 percent said Todd Colvin senior vice president at Ambrosino Brothers [read more]

China agrees to bolster purchases of US goods, in move to 'substantially reduce' trade gap

China and the U.S. have mutually agreed to substantially reduce the yawning trade imbalance between the two countries a joint statement read on Saturday in a move that will involve the Chinese boosting more of what they buy from American producers. Amid fears of a global trade war and rising tensions between the worlds two largest economies both China and [read more]

US Stock Closed On Correction

The three main U.S. equity benchmarks on Thursday finished lower as selling in technology shares offset an advance in the energy sector. However a popular index of smallcapitalization stocks closed at a record for the second straight day underlining the resilience of that segment of the [read more]

Trump's sanctions on Iran may be creating an oil trading boom — in China

Trade in Chinese yuandenominated crude oil futures has surged since President Donald Trump pulled the U.S. out of the Iran nuclear deal. Launched on March 26 crude oil futures on the Shanghai International Energy Exchange (INE) were met with fanfare and skepticism about how much a statemanaged marketplace could displace the wellestablished crude trade in the New York Mercantile Exchanges West Texas Intermediate (WTI) and the Intercontinental Exchanges Brent futures.But Trumps move [read more]

Bitcoin Will Be World Currency

Twitter and Square Inc. CEO Jack Dorsey expressed optimism about cryptocurrencys role in the future of payments saying that the internet deserves a native currency and it will have a native currency Bloomberg reports May 16.At the Consensus conference on Wednesday Dorsey shared crypto enthusiasts vision that virtual currencies are the future of a legitimate means of global payment. He said that he doesnt know whether it will be Bitcoin (BTC) but I hope it will be. Dorsey said [read more]

Oil prices have come full circle since OPEC refused to cut output 3½ years ago

Oil prices have come full circle from a historic implosion 3 years ago sparked by OPECs decision on Thanksgiving Day to take a handsoff approach to a global supply glut. Brent crude the international benchmark for oil prices ended Mondays session at $78.23 barrel the highest closing level since Nov. 25 2014. On Tuesday the contract took aim at $80 a barrel striking a new 3year intraday high at $79.47. At [read more]

North Korea cancels meeting with South Korea, threatens to ditch summit with US over military drills

North Korea abruptly canceled talks with South Korea scheduled for Wednesday and threatened to walk away from talks with the U.S. according to media reports. North Koreas staterun Central News Agency said the ongoing joint military drills between the U.S. and South Korea are a provocation and a preparation for an invasion according to a Reuters report that cites South Korean news outlet Yonhap. South Koreas Unification Ministry said it received a [read more]

Japan's GDP Q1 Data End Abenomy Eight Straight Quarter Expansion.

Japans economy contracted more than expected at the start of this year breaking the longest run of growth seen for decades in a blow to Prime Minister Shinzo Abes reflationary Abenomics polices.Wednesdays data marked the end to eight straight quarters of economic expansion which was the longest sequence of growth since a 12quarter run between AprilJune 1986 and JanuaryMarch 1989 during the assetinflated bubble economy.The economy shrank by 0.6 percent on an annualized basis a much more severe contraction than the median estimate for [read more]

Australia's central bank sees little reason to lift rates as inflation and wages stay sluggish

Australias central bank saw little reason to lift rates this month as inflation remained below target and likely to remain subdued in the face of sluggish wage growth minutes of its May policy meeting showed. The Reserve Bank of Australias (RBA) Board agreed there was not a strong case for a nearterm adjustment in monetary policy Tuesdays sixpage minutes showed. The Board still agrees the next move was more likely up than down assuming the economy gathered momentum [read more]

Mark Zuckerberg, who turns 34 today, has earned an average of $6 million a day during his life

Facebook CEO Mark Zuckerberg turns 34 today capping one of the more difficult years of his career at Facebook as the company deals with fallout around privacy and fake news concerns. But because he started his company in college hes already amassed quite a fortune despite his young age. His net worth is around $74 billion (according to Forbes) which means hes amassed an average of $5.97 million per [read more]

CME Launches Ether USD Futures and Index

The Chicago Mercantile Exchange (CME Group) in partnership with Crypto Facilities a UKbased digital asset exchange specializing in Bitcoin futures have launched the CME CF EtherDollar Reference Rate and Real Time Index according to an announcement May 14. The indexes will provide users access to a realtime Ether (ETH) price in  [read more]

China set to deliver world's largest amphibious aircraft by 2022: Chinese state media

China expects to deliver its domestically developed AG600 the worlds largest amphibious aircraft to customers by 2022 the staterun Xinhua news agency reported late on Sunday citing the planes manufacturer. We are endeavouring to get the airworthiness certification from the civil aviation authorities by 2021 and deliver it to the customers by 2022 Xinhua quoted Huang Lingcai the planes chief designer at stateowned Aviation Industry Corporation of China (AVIC) as [read more]

Oil Lower This Monday While Europe And Asia Resisting US Sanction On Iran

Oil prices on Monday fell away from last weeks multiyear highs as a relentless rise in U.S. drilling activity pointed to increased output while resistance emerged in Europe [read more]

The Week Ahead

US retail sales German Q1 GDP ZEW Australia andUK employment figures are key figures for the week. [read more]

Bitcoin Could Hit $64,000 Funstrat Predicts, Also Predicts Much Lower Breakeven From New More Powerful Antminer S9.

Bitcoin could soar as high as $64000 next year investment research firm Fundstrat predicts We believe the current path of hash power growth supports a BTC price of about $36000 by 2019 year end with a [read more]

Oil traders and insurers are the latest weapons in UN efforts to enforce North Korea sanctions

The United Nations is tapping private companies to aid in its fight against North Koreas efforts to evade trade sanctions at sea. A panel of experts from the UN Security Council is asking that insurers and commodity traders involved with certain trading ships alter their contracts to prevent illicit trades with North Korea. The UN has ratcheted up [read more]

Bitcoin could soar as high as $64,000 next year, investment research firm Fundstrat predicts

The growth of bitcoin mining activity could send the cryptocurrencys price as high as $64000 investment research firm Fundstrat said Thursday. Bitcoin is created through an energyintensive process known as mining in which computers receive the cryptocurrency as reward for solving complex mathematical equations. Processing power to guess the solution is known as hash power which Fundstrat predicts will grow 350 percent through 2019. We believe the current path of hash power growth supports a BTC price of [read more]

The shocking Malaysian election result could hit Chinese investments

A stunning win by the opposition bloc in Malaysias general election on Wednesday could have implications for the Southeast Asian nations ties with China a major invsetor.Mahathir Mohamad a former Malaysian prime minister who led his opposition alliance to victory over the ruling coalition said Thursday the country could renegotiate several agreements that had been struck with China.Mahathir said he had no problem with Chinas Belt and Road Initiative (BRI) a widereaching infrastructure investment program but added that we would not like to see [read more]

BoE to keep rates unchanged - Reuters Poll

The Bank of England (BoE) is now expected to keep rates unchanged at their next meeting according to poll results from Reuters. Key highlights BoE bank rate to stay at 0.5% 59 of 62 surveyed economists said. Poll results mark a complete reversal of the previous poll in April where 69 of 76 economists expected a rate hike to 0.75% in May. Polled economists now expect a rate hike in August with a second rate increase in Q2 of 2019. [read more]

Iran may try diplomacy but it could circumvent Trump sanctions with help from China and Russia

As the U.S. drops out of the Iran nuclear deal Iran may first try diplomacy but could also seek help skirting U.S. sanctions from other parties to the deal particularly Russia and China. Iranian President Hassan Rouhani on Tuesday said Iran would speak with China Russia and European countries to see if the 2015 deal can be maintained without the U.S. However if the deal collapses Iran could return to its nuclear [read more]

Trump announces he will withdraw US from Iran nuclear deal and restore sanctions

President Donald Trump announced on Tuesday he will withdraw the United States from the Iran nuclear deal and restore farreaching sanctions aimed at severing Iran from the global financial system. We will be instituting the highest level of economic sanction Trump said. Any nation that helps Iran in its quest for nuclear weapons could [read more]

NYSE's Owner ICE To Offer Traded Contract That Result In Customer Owning Cryptocurrency

 The owner of the New York Stock Exchange (NYSE) is mulling letting customers buy and hold Bitcoin The New York Times reported late Monday May 7. The move would be the second Wall Street giant in a week to reportedly open up to crypto.As the New York Times reports citing emails and documents as well as four anonymous sources NYSE [read more]

CPI, Inflation, Geopolitical Risk On Commodities & Forex

Following a very solid but softerthanexpected jobs report the USD remains in an advantageous position but perhaps shortterm speculators are a bit oversubscribed this week.All eyes will be on this weeks US CPI report which will be this months most significant piece of economic data as it will go a long way to confirm the markets bullish read on the US economy and the Fed rate hike trajectory.Oil The US Iran nuclear waiver is precisely what is pushing oil prices higher as the president has until May 12 to [read more]

The Week Ahead

Key events on the economic front include the Bank of England (BoE) meeting and US consumer price index (CPI) while US earnings season has wound down somewhat. [read more]

Amid international pressure, Russia’s economy is a mix of the good, the bad and the ugly

Beset by tough sanctions and worldwide political isolation a casual observer might be surprised to learn that Russias economy isnt doing all that badly even if it still has a litany of problems. In fact some investors are fairly bullish on the country where the outlook is bolstered by surging oil prices. However there are red flags everywhere including a new round of sanctions against Russian companies and [read more]

Australia: Q1 retail sales to show a further rise but at a slower pace - Westpac

Analysts at Westpac offer a brief preview of Tuesdays Australian retail sales release due at 0130 GMT with a slowdown in retail spending expected in the Q1 update. Key Quotes Consumer sentiment softened after a sharemarket selloff and increased concerns about the outlook for the economy and jobs Retail responses to private sector business surveys also point to a softening in sales although these have provided conflicting guidance in recent months. On balance we expect March to show renewed headwinds with a subpar [read more]

Apple Returning $100 Billion To Shareholders, Extended Hour Trading Up $6.24 To $175.34

Apple is returning another $100bn (73bn) to shareholders from its huge cash pile as solid iPhone sales helped revenues rise 16% to just over $61bn.The company sold 52.2 million iPhones in the three months to March only a touch below expectations despite waning global demand for smart phones.Revenues at Apples services business that includes Apple Music and the App Store jumped almost a third to $9.1bn.Apple has about $145bn in the bank but plans to [read more]

US Dollar Is Capping Oil Price Gain

Oil prices slid more than 1 percent on Tuesday as the dollar remained near a fourmonth high but worries that U.S. President Donald Trump will pull out of the Iran nuclear deal underpinned the market. The U.S. dollar surged into positive territory for 2018 and broke past key levels against several currencies as [read more]

IMF Reports Say Cryptocurrencies Post No Risk To Global Financial Systems

Cryptocurrencies do not appear to pose risks to financial stability the International Monetary Fund (IMF) said in a report published the second week of April. In comments on crypto assets as part of its Global Financial Stability Report the organization continued its recent stance in promoting international agreements on regulation. The report continues ...they could pose a risk should their use become more widespread without the appropriate safeguards. The tone is bullish against the titular theme of a bumpy road ahead for world finance and does not discount the potential for cryptocurrency to transform financial [read more]

FOMC, Expect No Action

Expect no action from the FOMC Wednesday Australia Thursday morning.  The policy statement will be released on Wednesday at 1800 GMT or (Sydney Thursday 4 am) but we do not expect any meaningful changes to the language nor do we expect to glean much new information concerning the policy outlook.Economists expect the FOMC to reiterate that nearterm risks to the economic outlook appear roughly balanced. The minutes from the meeting released on May 23 may offer more clues not only regarding interest rates but also about longerterm issues the Fed is focused on.  [read more]

Apple To Report Earning Tuesday 1st May After Market Close

Apple (AAPL) Reports after the closeTuesday May 1.Wall Street expectsApple to earn $2.69 per share on revenue of $60.98 billion. This compares tothe yearago quarter when earnings came to $2.10 per share on revenue of $52.9billion.What toWatch A potential tradewar with China Apples secondlargest market has gotten investors spookedabout Apple stock. This is because out of the $229 billion in sales Applereported for fiscal 2017 about $45 billion or roughly 20% came from China. Assuch not only Apple stock fallen into correction territory the risk fromChina has prompted some [read more]

US FOMC On Tuesday-Wednesday & Friday Non-farm Payroll

Economists do not expect a rate rise at this meeting June is the next option. But the statement will be closely examined to see if the Fed still believes the US economy and inflation require three or four rate rises this year.Up to early last week the betting was two possibly three more rate rises this year but US bond yields slid on Thursday and Friday and the 10 year yield ended just over 2.96% where it was four weeks ago indicating that there may only be one or two more rate [read more]

The Week Ahead 30/4-04/5 and US Stock Earning Reports

It is another busy week including Chinas purchasing managers index (PMI) aFederal Reserve (Fed)meeting UK PMIs eurozone consumer price index (CPI) and the ADP andnonfarm payroll reportsin the US.On the earnings front big US names include McDonald PfizerTeslaandApple.Monday (time in Sydney Autralia)11am China nonmfg PMIs (April)the official PMI reading is expected to fall to 51.2 from 51.5 while the private sector survey rises to 54.9 from 54.6.Markets to watch China indices CNY crosses4pm5pm German CPI (April preliminary)forecast to fall to 1.5% from 1.6% YoY.Market to [read more]

BoJ Decision 15:00-15:30 Tokyo Time Today

The Bank of Japan (BoJ) is set to announce the interest ratedecision and publish the monetary policy statement today and the flow ofinformation is expected to begin between 1500 and 1530 (Tokyo time). Expect BOJ to keep policy unchanged All 47 analysts surveyed by Bloomberg do not expect the BOJto make any changes to its asset purchases and yield curve control program. Thecentral bank will likely continue guiding the shortterm interest rate at minus0.1 percent and the 10year bond yield around zero percent. Inflation Watch The BOJ [read more]

ECB Kept Rate Unchanged Follow By ECB's President Draghi Statement

The European Central Bank on Thursday kept key interest rates for the region unchanged.ECB President Mario Draghi said in an introductory statement at a news conference announcing the monetary policy decisions that interest rates will remain at present levels for an extended period of time and past ECBs net asset purchases scheduled to expire in September.The interest rate on the main refinancing operations of the eurosystem which provides the bulk of liquidity to the banking system [read more]

Oil Price Trade Lower This Friday

Oil prices edged lower on Friday but Brent largely held gains from the previous session amid concerns that Iran may face renewed sanctions choking off supply.Global benchmark Brent crude futures were down 13 cents or 0.2 percent at $74.61 a barrel by 0050 GMT after rising 1 percent on ThursdayU.S. West Texas Intermediate [read more]

Cryptocurrencies Is A Legit Market, Reminded Nasdaq CEO Adena Friedman

Forget the fact that Bitcoin and other major cryptocurrencies all fell on Wednesday. This is a legit market. And Adena Friedman CEO of Nasdaq reminded everyone of that again today during an interview on CNBC.Bitcoin and other coins are more than a new reality a new market trend. They are new currencies and methods of payment. As a result many traditional investors have concluded they need to be in crypto. Nasdaq lends more credence to that notion.I believe that digital currencies will continue [read more]

Standard Chartered Bank Raised 2018 & 2019 Crude Oil Prices Forecast

 Standard Chartered on Tuesday raised its 2018 crude oil price forecasts by $10 saying that the market has began to acknowledge the importance of OPECled production cuts. The British bank which revised its forecasts for the first time in almost a year saw Brent and WTI crude prices averaging $71 a barrel and $68 a barrel respectively this year.It also raised its 2019 price outlook by $13 with Brent oil seen averaging $75 a barrel and WTI $71.OPEC and its nonOPEC partners are [read more]

ECB Rate Meeting Conference 21:45-22:30 (Sydney time)

European Central Bank Rate Meeting Analyst Views on What to Expect The ECB meets to decide monetary policy on Thursday Analysts see caution creeping into the ECBs official statement due to slowing growth The market reaction may be muted as baseline fundamentals remain unchangedThe recent run of poor data is not expected to alter the European Central Banks (ECBs) baseline of optimism about the future suggest a number of analysts we follow.The [read more]

Oil Price Average US$65.00 For 2018 On Strong Demand, Says World Bank

Oil prices to average US$65 a barrel in 2018 on strong demand says World BankCrude oil prices are forecast to average US$65 a barrel over 2018 up from an average of US$53 a barrel in 2017 on strong demand from consumers and restraint by oil producers according to the World Bank.The World Bank in its April Commodity Markets Outlook report released yesterday said metals prices are expected to rise 9% this year.It said prices for energy commodities which include oil natural gas and coal are forecast to jump 20% [read more]

US Stock Closed Sharply Lower Tuesday

U.S. stocks closed sharply lower Tuesday led by a selloff in industrials materials and technology shares.The selling pressure came after the 10year Treasury yield briefly touched the psychologically important 3% level for the first time in four years a move that comes as firstquarter earnings season was failing to excite investors despite some strong results.While the earnings season remained in full swing the tone was generally negative with several bellwether stocks slumping despite posting numbers that were ahead of analyst forecasts.What are markets doingThe Dow Jones Industrial [read more]

Special Report: Bitcoin Is Better Than Gold, Said Hedge Fund Manager

Speaking at the 23rd annual Sohn Investment Conference John Pfeffer hedge fund manager at Pfeffer Capital said that Bitcoin is the first viable candidate to replace gold and is better than the precious metal on every front MarketWatch reported yesterday April 23.Appearing on CNBCs Fast Money this morning April 24 Pfeffer confirmed his [read more]

1 in 5 Financial Institution Exploring Cryptocurrency Trading.

Mass media company Thomson Reuters has found that one in five of its financial services clients is considering trading cryptocurrencies this year.The firm recently surveyed more than 400 clients on its data and trading platforms including [read more]

Oil Price At 3 Years High

Oil prices rose to three year highs Monday as tightening supplies and escalating geopolitical risks helped the market climb back from earlier losses.U.S. crude futures settled up 24 cents or 0.35% to $68.64 a barrel on the New York Mercantile Exchange. Brent the global benchmark rose 65 cents or 0.88% to $74.71 a barrel on ICE Futures Europe.Oil prices are at their highest since late 2014 but trading Friday and Monday has been volatile. President Donald [read more]

US Dollar Strengthen On 10 Years Treasury Yield hit Four Years High And Coming GDP This Friday

TheU.S. 10year Treasury yield hit its highest in over four years at 2.998 percenton Monday driven by worries about the growing supply of government debt andinflationary pressures from rising oil prices.TheU.S. 10year bond yield later backed off that level a bit and stood at 2.971percent in Tuesdays early Asian trade.IncludingMondays move the U.S. 10year yield surged nearly 16 basis points in fourtrading sessions the biggest fourday rise since late June last [read more]

OPEC Talk Up Oil As US Add New Oil Rig

Oil prices were steady on Monday as a rising U.S. rig count pointed to further increases in American output marking one of the few factors tamping back crude in an otherwise bullish environment.Brent crude oil futures LCOc1 were at $74.07 per barrel at0354 GMT virtually unchanged from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 3 cents at $68.37 a barrel.U.S. drillers added five oil rigs drilling for new production in the week ended April 20 bringing the total count to 820 highest since March [read more]

The Week Ahead: Economic & US Earning Reports

This week is one of those weeks when both the economic and corporate calendars are nearly full to bursting. We have purchasing managers indexes (PMIs) from the eurozone and the US plus a European Central Bank (ECB) meeting preliminary gross domestic product (GDP) reports from the UK and US as well as US durable goods and a Bank of Japan (BoJ) meeting. Each day has plenty to keep markets busy.This is without taking into account the swathe of earnings from the US. Tech takes the spotlight in the US with Alphabet Facebook Twitter and Amazon. [read more]

Oil Bullish Signal! OPEC Deeper Cut To Production.

Crude has surged to a threeyear high the stockpile surplus is all but gone and OPECs chokehold on its own production is only getting tighter. As oil ministers gather in Saudi Arabia the $80 a barrel the kingdom desires is inching closer.The petronations seem willing to overtighten the market with the current price levels fostering confidence in [read more]

Japan: No clear picture of the future trade relationship with US - Nomura

Analysts at Nomura suggest that following President Trumps meeting with Prime Minister Abe no clear picture of the future trade relationship has emerged as the divergence in their views is unchanged. Key Quotes The two countries agreed to create a new negotiation framework where USTR Lighthizer and Japanese Economy Minister Motegi will lead the negotiations. If the creation of a new framework successfully delays harsh discussions on trade for now as the PenceAso dialogue did delays would be good for the [read more]

US Stocks End Lower Drag By Chips Maker And Philip Morris

U.S. stocks ended lower on Thursday with consumer staples real estate and technology shares leading the losses.Investors continued to digest a mixed bag of corporate earnings. While results have largely come in ahead of expectations thus far there have been some disappointments and others havent produced the kind of blowout results seen necessary to continue pushing shares higher from elevated levels.Stocks extended their decline as Treasurys sold off pushing the yield on the 10year note TMUBMUSD10Y 0.13%  toward a 2018 high. Stocks closed off the lows [read more]

Oil Price Will Rise $100 If Suadi Arabia Gets Its Way

Oil prices will rise to $100 per barrel if Saudi Arabia gets its way.Only a week ago news surfaced that Saudi officials were quietly hoping to push oil prices up to $80 per barrel which would help boost the valuation of Saudi Aramco IPO. But why not $100 per barrelReuters reports that Riyadh would be fine with prices rising that far which lends weight to the notion that OPEC will keep the production cuts in place even as its mission to drain surplus oil inventories around the [read more]

Oil hits fresh 3.5-year high in Asia

Oil prices rose to their highest level since late 2014 in Asia as traders factored in a drop in the US oil inventories in the week ended April 13.Brent oil rose to a 3.5year high of $73.96 and was last seen trading at $73.76barrel.On similar lines WTI frontmonth contract hit a high of $68.95 before retreating slightly to $68.70.US commercial oil inventories dropped by 1.1 million barrels in the week through April 13 according to the US Energy Information Administration (EIA). Meanwhile gasoline stocks [read more]

US Economy Awfully Good, Said Goldman Sachs CEO Lioyd Blankfein

Goldman Sachs CEO Lloyd Blankfein Economy looks awfully good and should keep growingGoldman Sachs CEO Lloyd Blankfein gives glowing remarks on the U.S. economy saying that things look awfully good.In a CNBC interview the banking executive also says he doesnt foresee the U.S. and China getting to a meanspirited trade war that would be so bad.He also calls David Solomon the CEOinwaiting though he gives no indication of when hell be stepping down.The economy is in good shape now and appears to have some staying power Goldman Sachs CEO [read more]

Mike Pompeo, Trump's secretary of state pick, met with Kim Jong Un

Ahead of a widely anticipated summit between President Donald Trump and North Korean leader Kim Jong Un CIA Director Mike Pompeo met with the dictator earlier this month the Washington Post reported.The facetoface meeting between Pompeo who was recently nominated to be the new secretary of state and Kim took place in North Korea over the Easter weekend and marks the highestlevel sitdown between the two countries since 2000 the Washington Post said.Reuters subsequently reported that a senior U.S. official had confirmed Pompeo and Kims meeting. [read more]

IMF keeps global growth forecast unchanged, warns world growth will slow

In its latest World Economic Outlook report the International Monetary Fund (IMF) maintained its forecasts for global growth this year but warned that the growth may continue to face a slowdown. Key Highlights via Bloomberg Global growth is projected to soften beyond the next couple of years the IMF said in its latest World Economic Outlook report. Once their output gaps close most advanced economies are poised to return to potential growth rates well below precrisis averages held back by aging populations and lackluster [read more]

Trans-Pacific trade deal could solve a big problem for Trump, but it may be difficult to rejoin

As President Donald Trump takes on China on trade Japan is inviting him to find a different way to level the playing field by going around China and rejoining a trade pact with 11 nations in the Pacific Rim. Prime Minister Shinzo Abe visiting Trump at MarALago this week is expected to encourage the U.S. to reconsider the TransPacific Partnership while Trump pushes a [read more]

US reportedly weighs retaliation against China for restrictions on tech companies

The Office of the U.S. Trade Representative is considering a new complaint against China to retaliate for restrictions on high tech sectors like cloud computing the Wall Street Journal reported.Separate from levies on steel and aluminum and tariffs on Chinese imports over alleged intellectual property theft the complaint would open up a new front in the trade standoff with China. In China U.S. cloudcomputing firms like Amazon and Microsoft must operate jointly with Chinese companies and license their technology to the Chinese partners. The [read more]

US delays fresh sanctions on Russia - Reuters

According to reporting by Reuters Trumps administration has delayed new sanctions against Russia. Key quotes Trumps administration is unlikely to approve them unless Moscow carries out a new cyber attack or some other provocation a senior administration official said on Monday. U.S. Ambassador to the United Nations Nikki Haley said on Sunday that Washington was preparing new sanctions on Russia over its support of Syrian President Bashar alAssad. The ambassador got out ahead of things this time the senior administration official [read more]

Netflix CEO Reed Hastings: We spend money more like a media company than a tech company

Netflixs spending priorities are more typical of a media company than a technology one according to CEO Reed Hastings. Well spend over $10 billion on content and marketing and a billionthree on tech Hastings said on a call with analysts.So I mean just objectively were much more of a media company in that way than pure tech. Of course we want to be great at both. But again were really pretty different from the pure tech companies.Its an interesting admission for the [read more]

The Week Ahead 09-13 April

With recent volatility driven primarily by geopolitical factors this week will see a host of big economic and corporate factors come into play for investors. Central banks are back in focus with Fed members will speak starting Tuesday early Sydney Australia time all the way through Saturdays morning. Alongside minutes from the Reserve Bank of Australia (RBA) and German Deutsche Bundesbank (Buba) president Jens Weidmann is to speak on Friday. The UK will be heavily focused amid recent gains for the pound with jobs and [read more]

Former FBI Director James Comey calls President Donald Trump 'morally unfit to be president,' says it is 'possible' Russia has blackmail material

Former FBI Director James Comey called President Donald Trump morally unfit to be president in a new interview with ABC News 2020 Sunday night and said it is possible that Russia has something it can blackmail Trump with.In an exclusive interview with ABC News Chief Anchor George Stephanopoulos Comey said Our president must embody [read more]

A massive, 'semi-infinite' trove of rare-earth metals has been found in Japan

Researchers have found hundreds of years worth of critical rareearth metals beneath Japanese waters enough to supply to the world on a semiinfinite basis according to a study published on Tuesday. Screenshot of Scientific Reports The location [read more]

Trump told his advisors to look at re-entering massive Pacific trade deal

President Donald Trump has told top economic advisors to look at the possibility of reentering a massive Pacific trade deal the White House said Thursday. The president has asked chief economic advisor Larry Kudlow and U.S. Trade Representative Robert Lighthizer to consider trying to rejoin the TransPacific Partnership according to White House spokeswoman Lindsay [read more]

Google is reportedly drafting 'ethical principles' for government work to calm worried employees

Google Cloud leader Diane Greene told employees that the company is drafting a set of ethical principals to guide the use of its technology in the wake of internal objections to its partnership with The Pentagon according to a Defense One report. In March Google announced that it had partnered with the Department of Defense to develop artificial intelligence to analyze and interpret drone videos which prompted than 3000 employees to sign a letter urging CEO Sundar Pichai that Google should [read more]

Tesla is the biggest short in the US stock market

More investors are betting against electriccar maker Tesla than any other U.S. stock new data show.The dollar amount of shares shorted on Tesla increased 28 percent in the last month to $10.7 billion according to S3 Partners. The percentage of Teslas available stock currently sold short exceeds 25 percent according to FactSet.Tesla which was overtaken by Apple as the largest U.S. equity short recently is back on top of the league tables a position it has held since March 2016 wrote Ihor Dusaniwsky head of research at S3 Partners. Tesla [read more]

Trump reportedly demanded in December that Mueller be fired

President Donald Trump demanded in December that special counsel Robert Mueller be fired and the former FBI directors investigation shut down The New York Times reported on Tuesday.At that time the president was angry over reports that Muellers latest subpoenas were related to Trumps business interactions with Deutsche Bank the newspaper said citing interviews with White House officials.The Deutsche Bank reports were inaccurate the special counsels office told Trumps team and the president did not act on his desires but it was the second time that Trump [read more]

Australian consumer sentiment dipped in April

A measure of Australian consumer sentiment eased slightly in April as worries about the future for family finances just managed to offset optimism about the economic outlook. A Melbourne Institute and Westpac Bank survey of 1200 people published on Wednesday showed its index of consumer sentiment dipped 0.6 percent in April from March when it rose 0.2 percent. The index was still up 3.4 percent on March last year at 102.4 meaning optimists just outnumbered pessimists. Sluggish wage growth [read more]

Mark Zuckerberg says Facebook didn't notify FTC of leak: 'We considered it a closed case'

Mark Zuckerberg testified Facebook did not notify the Federal Trade Commission about the Cambridge Analytica data leak years ago because the social media giant considered it a closed case. The Facebook founder and CEO spoke at a joint hearing of the Senate Judiciary and Commerce committees Tuesday the first of two congressional hearings for him this week.The company is facing questions following reports that research firm Cambridge Analytica improperly gained access to the personal data of as many as 87 million Facebook users.Facebook [read more]

Trump says 'everybody' involved in apparent Syrian chemical weapons attack will 'pay a price'

President Donald Trump said Monday he will make major decisions on Syria within 48 hours and did not rule out new military action. The president condemned reports of a chemical weapons attack that left dozens of people dead over the weekend calling it atrocious. He said nothings off the table in response to the attack. Very concerned when a thing like that can happen this is [read more]

China's Xi announces plans to 'open' China, including lowering tariffs on imported autos

Chinese President Xi Jinping discussed plans to further open up the Chinese economy during a Tuesday address.Those measures included significantly lowering import tariffs for autos and other products enforcing the legal intellectual property of foreign firms and improving the investment environment for international companies.Xis address from [read more]

US Stocks Ended Higher

U.S. stocks pared most of the days gains in the final minutes of trading closing only slightly higher Monday following news reports that the Federal Bureau of Investigation raided the office of Michael Cohen President Donald Trumps personal lawyer.Earlier all the main indexes were trading sharply higher as comments from Trump and administration officials alleviated fears about rising trade hostilities between the U.S. and China.What did the main benchmarks doThe Dow Jones Industrial Average DJIA 0.19% which at its session high was [read more]

The 'trade war' talk is a sideshow: America’s high strategy stakes are elsewhere

Wall Street has used the trade war panic to reprice assets in an accelerating economy facing Federal Reserve announcements of gradual interest rate increases and [read more]

Trump's national security spokesman Michael Anton is resigning

The spokesman for President Donald Trumps National Security Council plans to leave the administration the White House said on Sunday a day before Trumps [read more]

The Week Ahead 09-13 April

US earnings season is upon us once more with the Citigroup JP Morgan & Well Fargo earnings end of the week. ECB President Draghi will speak on Wednesday evening Australians time 9pm. FOMC minutes will be at 4am Thursday morning. Friday UK BoE governor Carney to speak [read more]

US firms urged to reject tariff plan - The Standard

Chinas state media has urged industrial and commercial sectors in the United States to rally against President Donald Trumps tariff plan.  Trump threatened extra $100 billion in tariffs on Chinese goods after China last week imposed US$3 billion of tariffs on US fruits nuts wine and pork immediately after the US unveiled $50 billion tariff plan.  We call on the international business community including the United States industrial and commercial circles to take prompt and effective measures and urge the US government to correct its [read more]

Deutsche Bank appoints Christian Sewing as new CEO to replace John Cryan, effective immediately

Deutsche Bank tapped Christian Sewing to be its new chief executive the bank announced on Sunday confirming widespread speculation that John Cryan would be replaced.Earlier in the day a source told CNBC that Sewing was favored by the board to take the helm of the troubled German lender. The change will take place immediately Deutsche said in a statement and Cryan is expected to depart the bank by months end.The bank also appointed two members of its management board Garth Ritchie and Karl von [read more]

US official: US willing to talk with China on trade, but only if it's serious - Reuters

Reuters quoted a senior US official as saying that the US is willing to negotiate with China on trade but only if its serious because the previous attempts have produced little progress. Additional Comments Trump will insist on verifiable enforceable measurable deliverables from China in any trade negotiations. No formal negotiating session has been set for China trade talks. source fxstreet & reuters [read more]

US March Non-Farm Payroll What To Expect.

the US Labour Department nonfarm payroll report will be released. The expectation is for 198k new jobs to have been created in March down from the exceptional 313k in February. Meanwhile unemployment is expected to tick down to 4.0% to hit its lowest level since 2000.Given the better than expected ADP private payroll data of 241k in March versus expectations of 210k we could be in line for another upside surprise from the NFP. However it is worth keeping in mind that weather is still likely to play a role in the March [read more]

Attack on Saudi tanker signals escalation in Yemen war, and it could mean higher oil prices

An attack on a Saudi super tanker by Yemens Houthis this week signals further escalation in the efforts to take the war in Yemen directly to Saudi Arabia and its oil facilities. Saudi Arabia entered the war three years ago but the proxy battle between it and Iran has so far not added much of a premium to the price of oil. However that could change if the Iranian aligned Houthis are more [read more]

Trump proposes $100 billion in additional tariffs on Chinese products

President Donald Trump on Thursday said he has instructed the United States Trade Representative to consider $100 billion in additional tariffs against China.In light of Chinas unfair retaliation I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and if so to identify the products upon which to [read more]

(Reuters) As equity markets show increasing fragility investors are looking for any sign that selling pressure will wane. Some of those markers could be found in the charts favored by technical analysts although they suggest investors still face considerable risk.  With the S&P 500 .SPX closing on Monday below its 200Day Moving Average for the first time since the June 2016 Brexit panic investors worried that an important indicator of the bull market trend has been broken.Stocks [read more]

Facebook's Mark Zuckerberg: 'I'm responsible for what happened' with data privacy issues

Facebook CEO Mark Zuckerberg is taking personal responsibility for letting third parties access Facebook user data without permission and says the company will embark on a threeyear push to prevent it from happening in the future. I started this place I run it Zuckerberg said during a call with reporters on Wednesday. Im responsible for what happened here. No one has been fired at Facebook due to the Cambridge Analytica data leak scandal he revealed. But he admitted [read more]

The energy industry will likely emerge from any trade war with China unscathed

As the U.S. and China do battle over trade theres one sector that has been largely left out of the titfortat for now and thats energy.The U.S. has plenty and China wants more. China laid claim to 20 percent of U.S. oil exports last year and importantly as the fastest growing importer of liquified natural gas in the world it is a ready importer of U.S. LNG.In fact [read more]

Trump wants to 'get out' of Syria, but US military and national security advisors say ISIS isn't defeated yet

President Donald Trump said he is thinking about withdrawing U.S. troops from wartorn Syria signaling an early exit to the U.S.led fight against ISIS. The presidents comments appear to contradict U.S. military and national security advisors who were speaking simultaneously at the U.S. Institute of Peace about the future fight against ISIS in both Iraq and Syria. [read more]

Saudi Arabia and Iran's 'intensifying' feud could soon end OPEC-led supply cuts, strategist says

Elevated geopolitical tension between Saudi Arabia and Iran could soon threaten the unity of an OPECled pact to keep oil prices in check according to one commodity strategist. Saudi ArabiaIran tensions appear to be intensifying. While this provides a geopolitical premium in oil for now it could develop cracks in OPECs unity which could end the pact prematurely Nitesh Shah commodities strategist at ETF Securities [read more]

US names Chinese products under proposed tariffs, including robotics, information tech and aerospace

President Donald Trump unveiled a list Tuesday of Chinese imports his administration aims to target as part of a crackdown on what the president deems unfair trade practices. Sectors covered by the proposed tariffs include products used for robotics information technology communication technology and aerospace. The U.S. Trade Representative which announced the list says it targets products that benefit Chinas industrial plans [read more]

Trump trade advisor Peter Navarro: If we hit all points of Trump's agenda 'the market will go up'

The stock market which took a hit Monday is not reacting to the unbelievable strength of President Donald Trumps economic agenda senior White House economic official Peter Navarro told CNBC. Equities tanked Monday as fears of a possible trade war and regulation of the tech industry weighed on investors. In an interview with Closing Bell Navarro said Trumps singular focus is on economic growth rising wages and a strong manufacturing and defense industrial base. If we [read more]

Stocks broke key level in sell-off that signals potential for bigger correction

Mondays broadbased selloff pushed stocks below important technical levels signaling more pain ahead for the market. The story you just cant avoid is the cracking leadership of this market said James Paulsen chief investment strategist at Leuthold Group. In afternoon trading 10 of 11 major S&P sectors were trading at correction levels Monday 10 percent or more from their highs. Consumer discretionary and technology shares former market stars were the worst hit Monday with declines of more than 3 [read more]

Japan's Abe will visit US from April 17 to 20 for talks with Trump

Japanese Prime Minister Shinzo Abe plans to visit the United States April 1720 for talks with President Donald Trump he said on Monday.Abe said he would ask Trump to bring up the issue of past North Korean abductions of Japanese citizens during the U.S. presidents expected summit with North Korean leader Kim Jong Un. source CNBC [read more]

The week ahead 02-06 april

On the Oil fieldOngoing efforts by major global oil producers to cut output and reduce a global glut against a steady increase in U.S. production will continue to be the main driver of sentiment in the oil market in the week ahead.Oil traders will await fresh weekly data on U.S. commercial crude inventories to gauge the strength of demand in the worlds largest oil consumer and how fast output levels will continue to rise.Market players will also pay close attention to any comments from global oil producers for further hints on whether they plan to [read more]

AUD/USD drops to a three month low in Asia

The AUDUSD pair fell to 0.7645 in Asia the lowest level since December 18 as the dollar funding costs continue to rise.The gap between the threemonth dollar London interbank offered rate (LIBOR) and threemonth overnight indexed swap rate (OIS) rose to 60.300 basis points earlier this week the widest level since May 2009. [read more]

Coal use will drastically decline in the next 30 years, the World Bank predicts

The worlds reliance on energy sources like oil and coal some of the main culprits behind pollution is dwindling according to the World Bank. The model has been coal plus renewables the model can be gas plus renewables. I think 10 12 years from now we will see renewables and storage and nothing more than that Riccardo Puliti the World Banks global head of energy and extractives told CNBC. [read more]

China announces it's imposing new tariffs on 128 US products

China is implementing new tariffs on meat fruit and other products from the U.S. as retaliation for American duties heightening fears of a potential trade war between the worlds two largest economies. Beijings latest move announced by its finance ministry in a statement dated April 1 is direct retaliation against taxes approved by President Donald Trump on imported steel [read more]

Japan's Aso: Must

Japanese Finance Minister Taro Aso said on Thursday the country should definitely avoid bilateral trade negotiations with the US according to a Reuters report.  Key quotes When two countries negotiate the stronger country gets stronger. Thats unnecessary (for Japan) so weve been saying all along that we would definitely avoid bilateral trade talks with the United States Aso told parliament. source fxstreet [read more]

Global credit markets showing signs of danger

Is there something rotten in the state of Denmark or anywhere else in the world for that matter While the stock market is clearly showing lingering signs of concern about tariffs and trade wars looming hot wars and potential privacy wars the global interest rate markets are also beginning to show worrisome signs of strain. Often when we have seen dislocations in the global credit markets it has been indicative of [read more]

China says North Korea wants denuclearization, but Kim Jong Un's motives remain shrouded in mystery as Trump meeting approaches

The Trump administration has been thrown another curveball ahead of potential historic talks with North Korean leader Kim Jong Un.After two days of speculation China announced that the North Korean regimes reclusive leader traveled to Beijing for bilateral talks with President Xi Jinping. Kim made the international trip by train in what [read more]

Asian shares slide after tech drags on Wall Street

Asian stocks posted declines on Wednesday trade after U.S. stocks fell sharply on the back of declines in technology names. That cut short [read more]

Goldman Sachs computer model warns bear market is near but the firm's analysts don't believe it

A computer model built by Goldman Sachs is signaling that a bear market is right around the corner but some strategists at the investment bank are not listening to their own indicator.Goldman Sachs bullbear indicator is sitting above 70 percent. That level is normally associated with high risks for equity investors Goldmans Peter Oppenheimer Sharon Bell Lilia Peytavin and Guillaume Jaisson wrote in a note Monday.The indicator takes into account five factors growth momentum (measured by the average percentile for U.S. ISM indexes) the slope [read more]

US and South Korea to revise trade pact with currency side deal

The United States and South Korea have reached agreement on a revised trade pact that includes a side deal aimed at deterring competitive currency devaluation by Seoul and provides relief from U.S. tariffs on steel senior Trump administration officials said on Tuesday. South Koreas steel exports to the U.S. will fall by about 30 percent but the Asian country is still subject to a [read more]

Trump's trade tactics may make China more willing to negotiate: Former Bush advisor Lindsey

Its yet to be seen if President Donald Trumps tough trade talk will work but there have been some promising signs said Larry Lindsey who served as a top economic advisor to President George W. Bush. Trump signed an executive memorandum on Thursday that would impose tariffs on up to $60 billion in Chinese imports. Trump is trying something new. We wont know until its tried whether its going to work or not Lindsey said on CNBCs [read more]

Japan's Sagawa on document alteration scandal

Nobuhisa Sagawa the former head of Japans National Tax Agency who stepped down amidst the government land sale scandal is giving his sworn testimony in the Japanese Diet today and his statements are providing the Japanese Parliament insight into how the scandal developed while they try to determine who is ultimately responsible for the debacle. Key highlights Sagawa is responding to Parliamentary questions about government document tampering leading with an apology for hurting the public trust. Sagawa has stated that there [read more]

Europe, United States to expel Russian diplomats - Reuters

According to reporting by Reuters the US will be expelling 60 Russian diplomats while the European Union is set to expel 100 diplomats following the nerve attack on a former Russian double agent which Moscow is being held responsible for.Key quotes (Reuters source)It was the strongest action that U.S. President Donald Trump had taken against Russia since coming to office. He has been criticized by Democrats and members of his own Republican Party for failing to be tough enough on Russia over U.S. allegations [read more]

The Week Ahead March 26-30

 The Easter weekendis round the corner expect a quiet week for markets on both the corporate andeconomic fronts. Likely market reaction may come from FOMC members to speaktomorrow Australia morning Wednesday US consumer confidence and US Q4 finalGDP. [read more]

Nobel-winner Robert Shiller warns of an 'economic crisis' from trade war threats

A ramp up in U.S.China trade tensions which many are predicting in the wake of a new round of tariff threats from both sides would immediately result in an economic crisis according to Nobel Prizewinning economist Robert Shiller. The Yale economist criticized U.S. President Donald Trump during a Saturday interview in Beijing calling the U.S. commanderinchief a showman who obviously relishes celebrity but acts in a way thats totally unbecoming for a [read more]

Facebook saves extensive call, text data made by Android users: Ars Technica

Android cellphone users have noticed that Facebook has saved a virtual trove of their personal call data that extends back years according to a report in Ars Technica. Amid an outcry over the social networks handling of a controversy involving a thirdparty applications misuse of personal data the publication reported that several Android users who pulled down archive data from Facebook found very detailed personal metadata. That information included call logs containing names phone numbers and the length of each call made. [read more]

US-China trade war opens the door for Australian exports - AFR

The Australian Financial Review (AFR) carried a story on the impact of a potential USChina trade war on the Australian trade. Key Quotes Australian industry group GrainGrowers says retaliatory tariffs by China against US exports could create an opportunity for its members to boost sales. China was Australias biggest market for barley with exports up to $1 billion a year and also the biggest market for sorghum with exports worth about $300 million a year. Well over 90 percent of [read more]

BoJ CPI Gain Insufficents And Need Stronger Policies.

TOKYO (Reuters) Oneof the Bank of Japans newly appointed deputy governors said consumer pricesare not rising quickly enough and the central bank should strengthen its policystance if possible underscoring a stilltepid inflation outlook despite yearsof stimulus.Masazumi Wakatabe speaking in parliament onFriday praised the accomplishments of the BOJs policy framework so far butsaid there may be room for improvement. [read more]

Trump exempts Canada, Mexico, EU, Australia and others from tariffs

The news is flowing in via LiveSquawk that Trump administration has issued tariff exemptions for Canada Mexico Argentina European Union (EU) Australia Korea and Brazil. Essentially it means China is being singled out and hence the worlds secondlargest economy may retaliate with its own set of targeted tariffs on US imports. source fxstreet [read more]

Let The

The Dow Jones Industrial Average (DJIA) has experienced its fifthlargest point drop in history after Donald Trumps $60 billion tariff announcement on China sparked fears of fresh trade war.At the close of trade Thursday afternoon US time the Dow had lost 724 points down 2.93 percent in a single days trade.The loss amounts to billions wiped from Wall St but falls just short of the dramatic 1000 point loss the Dow experienced in February.Fellow [read more]

Germany's Merkel: EU will retaliate if the US raises tariffs

German Chancellor Angela Merkel while speaking to reporters in Brussels said the European Union (EU) is waiting overnight to see US tariff plan and will retaliate if the worlds largest economy raises tariffs on EU imports.  U.S. Trade Representative Robert Lighthizer told the Senate Finance Committee on Thursday that the Trump administration would temporarily exempt some countries based on a certain set of criteria from steel and aluminum tariffs while they negotiate with the United States according to CNBC report.  Further exemptions will likely be granted [read more]

Britain Unveils New Fintech Plans, Including Cryptocurrencies

LONDON (Reuters) Britain will announce [read more]

Fed Raised Rate And Outlook Strengthen

The Federal Reserve stuck to a cautious strategy on raising interest rates in 2018 but some officials left scattered hints that they might be a bit more worried about rising inflation than the central bank let on.The Fedon Wednesday raised its benchmark fed funds rate expected and signaled its still on track to raise rates a total of three times in 2018. Many Wall Street pros thought the Fed might pencil in four rate hikes this year because of higher [read more]

The Bull Market Isn't Over For Investors Yet: Credit Suisse

 The bull market isnt over for investors yet Credit Suisse         Credit Suisse global chief investment officer Michael Strobaek said the bank has bought stocks and feel very well about it. We dont see the end of this bull market as yet.         The bank favored eurozone and emerging markets stocks the [read more]

What To Expect For FOMC Tomorrow Morning

Wednesday the Federal Reserve will wrap up its first twoday meeting of the Federal Open Market Committee (FOMC) since Chair Jerome Powell was confirmed as the central banks head in early February.Market pricing suggests there is a 95% chance the Fed raises interest rates with its policy [read more]

What Is Saudi Arabia Crown Prince Buying Across US

Saudi Crown Prince Mohammed bin Salman will meet with officials from Boeing (BA) and Lockheed Martin ( [read more]

Analyst who called the last pullback says its time to buy on the dip again         The current pullback is temporary and the [read more]

Fed Is Expected To Upgrade It View Of The Economy But Will Avoid Mentioning The Very One Risky Issues

The Fed is expected to upgrade its view of the economy when it meets this week but its unlikely to publicly discuss one of the bigger risks for the economy  potential trade wars.The Fed begins its twoday meeting Tuesday and it is expected to raise interest rates by a quarter point. The Fed [read more]

Bitcooin, Ethereum & Many More Altcoin Recover On G20 Comments

BTCETH Recover From Monthly Lows On Comments To G20 MembersThe crypto markets are in thegreen again after hitting monthly lows thisweek with Bitcoin (BTC) back over $8000 by press time according to data from CoinMarketCap [read more]

FOMC Set To Hike Rate on 21 March

FOMC meeting appear to be on track for a rate hike at the 2021 March meeting. The focus now is largely on the medians of FOMC participants target federal funds rate projections (the dots) in the Summary of Economic Projections (SEP). Given recent remarks by FOMC participants we think the dots distribution will shift up across the forecast horizon. We believe more likely than not the medians will rise for 201820 but this remains a very close call. Recent remarks particularly by Chair Powell and Governor Brainard have highlighted an improved economic [read more]

The Week Ahead 19-23 March

In the week ahead the G20 meeting in Argentina and the threat of trade wars will be in focus ahead of the Federal Reserve announcement on Wednesday. UK BoE rate decision and German ZEW business Survey will also be in focus.USD ended last week slightly higher as upbeat U.S. economic data confirm the Federal Reserve will raise interest rates at its upcoming two days FOMC meeting end at Thursday 0530 Sydney Australia time.  Last Friday showed that  [read more]

Scandal Loom Over Nikkei & Yen.

Political black swan looms over yen NikkeiDoctoring of a Finance Ministry document relating to a controversial land sale presents a serious threat to Prime Minister Shinzo Abes administration political analysts sayTHE scandal embroiling Japanese Prime Minister Shinzo Abes administration may be more serious than some investors realise raising the potential for a rapid move in the countrys markets to discount the potential for a surprise end to the champions of Abenomics.While Mr Abe has faced down political controversy and public protests repeatedly in his more than five years in power [read more]

Oil Demand Increase Globally But so Does Supply

Global oil demand is expected to pick up more quickly this year but supply is still growing at a faster pace leading to a rise in inventories in the first quarter of 2018 the International Energy Agency (IEA) said on Thursday.The Parisbased IEA raised its forecast for oil demand [read more]

New Economic Advisor Believes In Strong Dollar

Kudlow says he favors a strong dollar has no reason to believe Trump isnt for one either         A great country needs a strong currency Kudlow said Wednesday. I have no reason to believe President Trump doesnt favor a [read more]

ECB's Mersch: any change in monetary policy always a shock to the economy

Yves Mersch Member of the Executive Board of the European Central Bank during an interview with Luxemburger Wort German language Luxembourgish daily newspaper was noted saying that all the indicators point to economic growth in Europe continuing and any change in monetary policy stance is always a shock to the economy positive or negative. Additional quotes  The bigger the imbalances the less the economy is prepared for a monetary policy chang  Loose monetary policy loose fiscal policy lax supervision asking for trouble  We set [read more]

US Inflation Show Weakness

Weakness in the guts of Tuesdays U.S. inflation report suggests the real inflation scare at least for central bankers may be the prospect of softening price pressures rather than the fears of an acceleration that gripped Wall Street last month.Socalled procyclical inflation which denotes changes in the prices of goods and services that in the past have tended to be more sensitive to labormarket conditions moderated in February to the lowest level since December 2015 according to data from the Labor Department report compiled by Bloomberg. (Federal Reserve [read more]

China data dump: Industrial production – a huge beat, Retail sales miss estimates

Chinas JanFeb (combined) retail sales YoY the number came in at 9.7 vs 9.8% exp and 10.2% last with industrial output YoY at 7.2% and 6.2% exp and 6.6% last. Meanwhile urban investment YoY stood at 7.9% vs 7.0% expected and 7.2% last. A huge beat in the industrial figures boosted the upside in the Australian Dollar driving the AUDUSD pair to daily highs of 0.7872 while AUDJPY traders firmer but capped by the 84 handle.source fxstreet [read more]

Trump Want

Trumpwants a phase two of tax cuts        President Trump again brings up a [read more]

Iran And Suadi Arabia Not Seeing Eye to Eye Over Oil's Price

Iran and Saudi Arabia are at odds over what to do next with the OPEC agreement a conflict that could sow the seeds of the agreements demise over the course of the next year.As the WSJ notes the dispute centers around exactly what price the cartel should be targeting. Irans oil minister has said that the group should not push prices too high because it would likely spark an even greater production response from shale drillers. If the price jumps to around $70it will motivate more production in shale oil in the United States Iranian oil [read more]

What To Expect For US Feb CPI.

Inflation in the U.S. might be the rise but its not erupting like Mount Vesuvius.First came news that worker pay rose more slowly in February. Now it appears the consumer price index probably was on the milder side as well.The CPI is forecast to increase 0.2% in February less than half as much as the 0.5% gain in January. The chief reason Lower gasoline prices.If the forecasters are right home buyers and others looking for [read more]

The Week Ahead For Forex, Metals & Energy Mar12-16

US consumer price index (CPI) and retail sales dominate the week With inflation weakening in the eurozone the US figures will command plenty of attention given the speculation about a faster pace of US tightening and the recent appreciation in the US dollar index. Please note the US change their clocks on 11 March so all US economic events occur an hour earlier than usual for the next two weeks.Forex OutlookUS dollar will be in focus this week with highImpact US Data on Tuesday Wednesday and Friday. Tuesday [read more]

Japan Govt & BoJ have limited options to reign in Yen appreciation - Goldman Sachs

Goldman Sachs Chief Japan Economist was reported by Bloomberg as saying that the BoJ and the Japanese government have very limited policy options for reining in the Yen appreciation Key Points Most likely to take a waitandsee stance until the latest round of gains come to an end. The risk for BOJ is that the yens gains put strong downward pressure on 10year government bond yields. Fixedrate buying operations not effective when rates are falling. If the BOJ wants to prevent a further [read more]

What to Expect For Tonight Non-Farm Payroll

The NonFarm Payrolls report focuses on wages once again especially after the blockbuster report for January. Expectations are slightly lower and an upside surprise cannot be ruled out. The trade worries are set to cast a dark cloud on any outcome. The Average Hourly Earnings section of [read more]

Fed's George sees 'upside' risks, wants further rate hikes

Kansas City Federal Reserve President Esther George sees predominantly upside risks to her outlook and favors further rate hikes.  Key quotes (Source Reuters) The Federal Reserve should continue to raise interest rates and carefully calibrate its policy to lean against a potential buildup of inflationary pressure or financial market imbalances.Sees inflation rising to 2 percent this year. Expects continued moderate economic growth and tighter labor markets. Says important to continue raising interest rates. Asset prices may have become distorted due to Feds balance [read more]

Bitcoin Drop 18% In Two Days

        Bitcoin drops over increasedscrutiny of exchanges now down 18% over 2 days        Japans Financial Services Agency on Thursdaysuspended operations at two relatively small exchanges Bit Station and FSHO forone month [read more]

Oil Price Drop By 2%

prices dropped by more than 2% on Wednesday as concerns surrounding a possible trade war intensified and data revealed a fresh weekly record for domestic crude production.The Energy Information Administration on Wednesday reported a second straight weekly climb in U.S. crude inventories but the size of the climb nearly matched market expectations defying a much larger rise reported by a trade group a day earlier.April West Texas Intermediate crude  [read more]

Japan Q4 GDP Up 1.6%

Japan fourthquarter GDP growth revised up BOJ seen in no rush to exit debateTOKYO (Reuters) Japans economy expanded more than initially estimated in the last quarter of 2017 thanks to an upward revision of capital expenditure and inventory data confirming an eighth consecutive quarter of growth. Global demand for technological products has driven an investment boom in many of the countrys highend sectors such as autos semiconductors and precision machinery mirroring trends seen in other major Asian exporting nations.However despite [read more]

Bitcoin Below $10,000 After SEC Statement

Bitcoin just tanked below $10000 after SEC says crypto exchanges must register with the agency         The SEC said in a statement [read more]

API Reported Increase Production Last Week.

The AmericanPetroleum Institute (API) reported a huge build of 5.661 million barrels ofUnited States crude oil inventories for the week ending March 2 according tothe API data. Analysts had expected a build of 2.723 million barrels in crudeoil inventories.Last week the American Petroleum Institute (API) reported a build of 933000barrels of crude oil. Last weeks API report showed a build in gasolineinventories of 1.914 million barrels.This week the APIreporting a build for crude oil but a draw for gasoline possibly dampeningthe affects that such a large crude oil build could have. The API reported adraw of 4.536 [read more]

Fed's Brainard Says Economic Tailwind Will Lead To Higher Rate

FederalReserve Gov. Lael Brainard the sole remaining member of the board who wasappointed by President Barack Obama on Tuesday said that a higher path ofinterest rates could become warranted if a variety of economic tailwinds givethe economy forward thrust.In the earlier period strong headwinds sapped themomentum of the recovery and weighed down the path of policy. Today withheadwinds shifting to tailwinds the reverse could hold true Brainard said ina speech to the Money Marketeers of New York University.Continued gradual increases in [read more]

Coinbase To Launches Cryptocurrencies Index

Bitcoin exchange Coinbase launches the Dow Jones of cryptocurrencies         Coinbase is launching a weighted index fund for cryptocurrencies. [read more]

Euro Could Strengthen On Thurday

The euro could spark further issues to European Central Bank (ECB) President Mario Draghi on Thursday if policymakers significantly change their language on monetary stimulus.The euro is expected to strengthen further on Thursday if the ECB gives up the socalled easing bias where the central bank favors a more accommodative policy.Until now the ECB has stated that it stands ready to increase the level of bond purchases it makes in both duration andor size in case the economic outlook deteriorates in the euro zone. Dropping such a statement the easing bias [read more]

The US Dollar & Equities

It was a positive day during US session with the Feb US ISM near 13year highs at 59.5 better than expected. This comes ahead of this Fridays nonfarm payrolls for Feb 2018 which is forecasted to be better. The dollar also found some support on the back of US yields with the 10yr treasury yield moving up from 2.82% to 2.89%. The Fed fund futures are still pricing in three more hikes maybe even four hikes by end2018 if data continues to support a higher rate. US equities rebounded despite President Trumps tariff plan there is some [read more]

Survey Shows Most Want Amazon's Cryptocurrency

Online retailer Amazon this week received feedback that its hypothetical creation of an Amazon Coin would be positively received while Starbucks another large traditional consumer company spoke of plans to use  [read more]

The Week Ahead 05-09 Mar

US nonfarm payroll and Central bank meetings in AustraliaJapan and Europe dominate the week with the last of these the most important.We also have the monthly US employment report plus the servicespurchasing managers index (PMI) for China and the UK and Institute of SupplyManagement (ISM) PMIs for the US. Economic Release (Time Sydney Australia) Monday12.45pm China Caixin services PMI (February) activityin the services sector expected to fall to 53.4 from 54.7. Markets towatch China indices CNY crosses20.30pm UK services PMI (February) forecastto rise to 53.4 from 53. Markets to watch [read more]

Key events for the week ahead - Nomura

Analysts at Nomura noted the key events for the week ahead. Key Quotes United States data preview The week ahead We expect a 210k increase in Februarys nonfarm payroll employment and a 0.2% mom increase in average hourly earnings (AHE). ISM nonmanufacturing index (Monday) We expect elevated business sentiment to continue in February and forecast a reading of 58.0 for Februarys ISM nonmanufacturing index down 1.9pp from 59.9 in January. The January issue of this survey displayed broadbased strength. The new orders and [read more]

China sets 2018 GDP growth target at 6.5% - Bloomberg

The news is crossing the wires via Bloomberg that China the worlds second largest economy will target a GDP (gros domestic product) growth rate of about 6.5 percent in 2018.  Key points Targets lower 2018 budget deficit at 2.6 percent of GDP. Set 2018 CPI target at about 3 percent increase. Targets surveyed jobless rate within 5.5 percent.source fxstreet & Bloomberg [read more]

US Impose Tariffs On Steel And Aluminum Import, Dow Closed -400 Lower

Dow closes more than 400 points lower afterTrump says steel and aluminum tariffs comingThe Dow Jones industrial average closed more than 400 points lower afterrising more than 150 points earlier in the day.The U.S. will set tariffs of 25 percent for steel and 10 percent foraluminum the president said.Wall Street also digested fresh testimony from Federal Reserve ChairJerome Powell.Stocks fellon Thursday after President Donald Trump said the U.S. will implement tariffson steel and aluminum imports next week.The  [read more]

Eurozone economic growth momentum has peaked – Reuters poll

According to the latest Reuters poll of 80 economists the Eurozone economic momentum appeared to have peaked while they believe that the ECB could drop its easing bias or at the June meeting.Key FindingsThe economy is expected to lose some of that momentum on the euros strength and inflation was expected to remain well below the central banks target over the next two years at least.More than 70 percent of 51 economists who answered a separate question said the peak of growth momentum in the [read more]

Oil Declines On Profits Taking

Oil prices extended declines on Thursday after official data showed a largerthanexpected increase in U.S. crude inventories and a surprise build in gasoline stocks. U.S. West Texas Intermediate crude for April delivery CLc1 was down 11 cents at $61.53 a barrel by 0100 GMT after settling down $1.37.New frontmonth London Brent crude LCOc1 for May delivery was down 16 cents at $64.57 [read more]

Dow Open Higher But Closed 380 points Lower

Dow closes 380 points lower snaps longestmonthly win streak since 1959        The major averages erased gains from earlier in thesession to close sharply lower.        The Dow and S&P 500 snapped 10month winningstreaks their longest since 1959. [read more]

Tom Lee of Fundstrat Bullish On BTC, Price May Double This Year

Cofounder and Fundstrat strategist Tom Lee has repeated his prediction that Bitcoin (BTC) will reach $20000 by midyear and $25000 by the end of the year. He also expects at least three publicly traded corporations to issue their own cryptocurrencies in 2018 writes CNBC citing Lees Feb. 28 Fundstrat report.Lees price prediction reiterates comments he made in early January 2018 predicting Bitcoin could easily double this year. [read more]

Why March Is Stocks Buying Time.

Why March could be a better month for stocks but there is a warning         After a rough February stocks are [read more]

Fed Chair Jerome Powell Signal Rates Will Keep Rising

Dow falls 299 points after Powell signals Fed will keep raising rates to contain inflation         New Federal Reserve Chair Jerome Powell addressed Congress detailing the central banks outlook for monetary policy and economic growth for the coming years.         Weve seen some data that in my case will add some confidence [read more]

US stock market eyeing Powell testimony to congress

Stock rally could depend on whether Powell is handsoff on policy for now         Fed Chair Jerome Powell makes his first major appearance as head of the Federal Reserve before the House Finance Committee.         What Powell says during the Fed chairs semiannual economic testimony could help decide whether stocks continue [read more]

1. Bond jitters persist One number threatens to derail the stockmarket comeback.The Dow has recovered almost twothirds of the ground it lost during theselloff earlier this month. Yet stocks remain fragile and subject to thewhims of the bond market.Each time the yield on the 10year Treasury note creeps closer to 3% alevel not seen in four years fears reemerge about inflation and a less friendly Federal Reserve.Itreally is quite amazing how quickly sentiment toward the market hasshifted Bespoke Investment Group wrote in a recent report. A fogof unease has definitely set in as investors fret [read more]

Higher inflation could trigger recession - Deutsche bank

Deutsche Bank economists fear rising inflation could lead to a structural recession as high price expectations and the response from the central bank (tightening) might squeeze economic output in the neartomidterm.  Wage price inflation full employment and Trumps fiscal stimulus is boosting inflation in the US according to Deutsche Bank.  It also believes a weaker dollar and higher oil prices are the two factors pushing US inflation up and so the inflation will likely overshoot the target sooner than expected. source fxstreet [read more]

CBI: UK services businesses enjoy first profit rise in two years - RTRS

The latest data published by the Confederation of British Industry (CBI) revealed that the UK services sector reported the first rise in profits in more than two years during the past quarter contradicting the downbeat official data released last week.   Key Points via Reuters CBI said volumes in the services sector as a whole grew at the fastest pace since August 2015 in the three months to February and profits rose too. CBI chief economist Rain NewtonSmith noted Despite feeling the pinch from [read more]

Japan: Core inflation likely to remain weak – Nomura

In January 2018 the allJapan core CPI (all items excluding fresh food) rose 0.9% yy unchanged from December 2017 and the January allJapan core CPI (all items ex energy and food but including alcohol) rose by 0.1% also unchanged from December as energy prices continue to weigh on core inflation notes the research team at Nomura. Key Quotes Forecasts for February Tokyo CPI We forecast the February 2018 Tokyo core CPI will be up 0.7% yy the same inflation rate as in January. [read more]

ECB remains cautious on QE exit – UOB

Researchers at UOB Group assessed yesterdays release of the ECB minutes of the January meeting. Key Quotes Specific on the European Central Bank (ECB) the minutes for its 25 Jan meeting reiterated the ECBs existing cautious approach to communicating an exit from QE. The minutes noted that changes in communication were generally seen to be premature at this juncture and monetary policy would continue to develop with a view to avoid abrupt or disorderly adjustments at a later stage. The minutes added that some [read more]

Trump policies to boost wages without inflation - US Treasury Secretary Mnuchin

Trump policies will push up wages but wont have a big impact on inflation said US Treasury Secretary Mnuchin according to Bloomberg.  The recent data points have shown a pick up in wages as well as inflation. Wages were up 2.9% in January compared with a year earlier the best pace since June 2009. Mnuchins comments come a day after Fed minutes revealed increased confidence in the need for further hikes.  source fxstreet [read more]

Theresa May reverses stances on EU migrants post-Brexit - The Times

Prime Minister Theresa May recently signaled a reversal on a key Brexit policy regarding the future of EU migrants within the UK during the Brexit transition period as reported by The Times in London. Key highlights EU citizens in Britain during the Brexit transition period will be allowed to stay permanently under the current negotiating plan.Three weeks ago May announced that EU residents staying in Britain after March of next year wouldnt have same rights as those who came earlier.Policy reversal comes after Brussels [read more]

China: PBoC reiterates neutral monetary policy stance – Nomura

In its Q4 2017 monetary policy report the Peoples Bank of China (PBoC) reiterates its prudent and neutral monetary policy stance and continues to highlight financial stability as its top priority notes the research team at Nomura. Key Quotes We read this as a sign that financial deleveraging and the deepening of market reforms will remain in place for years. Does this change our economic views No. Financial deleveraging will continue to put downside pressure on economic growth. Strategy implications On rates [read more]

When are the German/ Eurozone flash PMIs and how could they affect EUR/USD?

German Eurozone flash PMIs Overview Amongst the Euro area economies the PMI reports from Germany and Eurozone as an entire bloc hold more relevance in terms of its impact on the European currency and the markets as well. The forecast for the Eurozone flash manufacturing PMI shows 59.3 for February slightly lower than the 59.6 recorded a month ago and the Eurozone services sector is also expected to come in a tad weaker at 57.6 in the reported month when compared to 58.0 booked [read more]

RBA Minutes highlight labour market uncertainty - Capital Economics

Paul Dales Chief Australia & New Zealand Economist at Capital Economics noted that the minutes of Februarys Reserve Bank of Australia meeting do a good job of summarising the uncertainties surrounding the labour market and wage growth and how they will influence interest rates.Key QuotesThis is why the RBA has been downplaying the chances of an interest rate hike this year and why we suspect the first hike may not come until the second half of next year.The minutes restated the comments used in Februarys policy statement [read more]

Will UK Rise Interest Rate As Inflation Outstrips Growth?

Will UK interest rates rise as inflation outstrips wage growthConsumer price inflation in Britain is now three percent which is close to its highest level for six years. Consumer price inflation in Britain is now three percent which is close to its highest level for six years.After Britons voted to leave the EU in 2016 the pound tanked and inflation rose as the cost of imports went up. [read more]

Kraken CEO Jesse Powell;

Cryptocurrency market will hit $1 trillion valuations this year CEO of top exchange says         Jesse Powell founder and CEO of Kraken said Tuesday that the cryptocurrency market would continue to see an acceleration of growth.         Asked whether he thought the market capitalization of all cryptocurrencies would hit the $1 trillion [read more]

This US Stocks Lead The Rebonced

Apple these other stocks have led this monster bounce from last weeks lows         Major U.S. stock indexes climbed more [read more]

The Bull Is Not Dead Just Taking A Breather

Bull market looks safe for now as fewer than half of corrections deepen into fullblown bears         Weight of the evidence [read more]

Abe set to reappoint BOJ Gov. Kuroda for second term

Bank of Japan (BOJ) governor Kuroda is set to be the first governor to serve two terms since 1954.  Reports are doing the rounds that Prime Minister Shinzo Abe is set to nominate Haruhiko Kuroda to lead the Bank of Japan for another five years.  The Japan News quotes a source as saying that Abe is determined that Kurodas skills are still needed to bring about an end to deflation a top goal of the Abe Cabinet. The Bank of Japan governors term is five [read more]

US Stock Is Falling This Is What You Should Do

There is suddenly stockmarket carnage on Wall Street shattering what has been a protracted period of low volatility and a mostly uninterrupted climb toward the moon for stocks. [read more]

BoE Rate Decision, Thursday

Analysts at Nomura offer a brief preview on BOEs Super Thursday with no changes expected to the BOEs monetary policy program. However at some point in the near future we [read more]

Fed's J.Williams;

The Federal Reserve will stick to its plan for steady gradual interestrate increases a Fed policymaker said Wednesday despite market gyrations and strong data on U.S. wage growth that has bond traders pricing in faster rising inflation. I am going to try to dispel you of the myth that the Federal Reserve is going to overreact or somehow undermine the good news on [read more]

S&P Closed -0.5% After Gaining 1.2%

S&P 500 closes lower in biggest reversal since February 2016 as rates pop         The S&P 500 pulled back 0.5 [read more]

Oil Rise On Lower US Crude Inventories

Oil rises on report of lower U.S. crude inventories stock market recoveryOil prices rose on Wednesday amid a share market recovery and supported by a report that U.S. crude inventories fell last week although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude. Brent crude futures were at $67.44 per barrel at 0235 GMT up 58 cents or 0.9 percent from the previous close. [read more]

DJIA Closed 567 Points Higher, After 2 Days Sell-off

Dow closes 567 points higher after crazy market swings         The Dow closed 567.02 points higher and rose as much [read more]

SEC &CFTC Hearding: More Legitimate ICOs or

SEC and CFTC Hearing More Legitimate ICOs or If There Was No Bitcoin There Would Be No BlockchainThe Commodity Futures Trading Commision (CFTC) and US Securities and Exchange Commision(SEC) met the morning of February 6 2018 to discuss their roles in Blockchain virtual currencies and ICOs. Set in Washington D.C. at the Dirksen Senate Building the Committee on Banking Housing and Urban Affairs met in open session for about 2 hours. Before the hearing began testimonies were released on behalf of both witnesses.The PreTestimonies(these testimonies were released on February 5 [read more]

Bitcoin At $6,400 Down 60% From January High.

Bitcoin falls below $7000 to twomonth lowThe digital currency falls below $7000 to its lowest since Nov. 14according to CoinDesk.The decline follows reports in the last week that have raised worriesabout increased regulation and potential price manipulation at a majorcryptocurrency exchange.The heads of the U.S. Securities and Exchange Commission and CommodityFutures Trading Commission are also set to testify before the Senate BankingCommittee on Tuesday.Bitcoin droppedbelow $7000 on Monday to its lowest in more than two months.The digital currency fellto a low of $6511.52 its lowest since mid November according to CoinDeskwhose [read more]

Jim Cramer: Stop Yourself From Panicking And Find The Sell-off Opportunities

Mad Money host Jim Cramer helps investors navigate the stock markets huge intraday decline by spotting buying opportunities and resilient stocks.Cramer encourages investors to stay calm and stick to their playbooks. As the stock market plunged on Monday taking the Dow Jones industrial average down almost 1600 points intraday CNBCs Jim Cramer wanted to help investors assess the drop.I hate to sound glib here but ... we were due for a decline. We just were the Mad Money host said. Markets do [read more]

Advised From CNBC Jim Cramer On The Sell Off.

 Cramers guide to the selloff Its not theend of the worldMad Money host Jim Cramer walks investors through the marketselloff how they should approach the action and what to buy.As the Dow Jones industrial average draggedstocks down 666 pointson Friday inan ominous end to the worst week for stocks in two years CNBCs Jim Cramerwanted to vet the upside.After months of an endless bull rally where it seemed like stocks couldonly go up not down Cramer was not surprised to see the markets firsttangible decline spark sheer panic.Im not disputing for one [read more]

Is This A Buying On Dip Opportunity?

A rare phenomenon is gripping the market heres why one fund manager sees more pain aheadWall Streets worst week in two years is creating anxiety that more losses are ahead for investors.Russell Investments Douglas Gordon suggested recently that feeling may be justified. He contended an unusual phenomenon is creating nearterm challenges for the stock market.Youve got a late stage in the expansion where youve got tightening monetary policy. But youve got stimulative fiscal policy concurrent with that. Thats not only rare thats almost [read more]

The Week Ahead 05-09 Feb

Meetings of the Reserve Bank of Australia (RBA) and the Bank of England (BoE) dominate the monetary policy sphere and while no changes are expected the comments will be worth watching.UK services purchasing managers index (PMI) and Institute for Supply Management (ISM) services in the US are other key points to watch. Meanwhile quarterly reports from Tesla Twitter and Disney are highlights on the US front. Monday12.45pm China Caixin services PMI (January) private sector growth expected to accelerate with [read more]

5 Things To Know Before January Non-farm Payroll

Can Americas job market stay hot throughout 2018Thats the question after 87 consecutive months of job gains the longest streak on record.The Labor Department will publish the January jobs report at 830 a.m. ET. Here are five things to know before it comes out.1. Economists expect another healthy month They predict the United States gained 175000 jobs in January which would be more than the 148000 jobs added in December. Unemployment is expected to stay at 4.1% the lowest level since December 2000. And wage [read more]

What To Expect For US January Non-Farm Payroll

        calendar by     For unemployment an unchanged rate of 4.1% [read more]

Fed Leave Rate Unchanged, As Expected.

The Federal Reserve announced on Wednesday it is leaving interest rates unchanged days before Chairwoman Janet Yellen is set to leave the central bank.The bank [read more]

The UK to launch a Gold-back cryptocurrency

Reuters reports the latest headlines on the crypto markets citing that the UKs Royal Mint is planning to launch its own goldbacked cryptocurrency. Key Details One RMG coin is equal to one gram of gold a digital representation of gold stored in The Royal Mint vault. Its called Royal Mint Gold ... or RMG amongst friends. Meanwhile Tom Coghill Commercial Director at Royal Mint and responsible for the business development and sales of RMG noted its real gold youre holding [read more]

BOJ plans to keep the current pace of bond buying in Feb.

Continuing with its efforts to dispel market speculation the Bank of Japan (BOJ) reassured to maintain its ultraloose monetary policy stance as the inflation remains far from the 2% target.  This follows earlier announcement wherein the BOJ lifted purchases for the first time since July last year. The USDJPY pair however had a rather muted reaction to the news and struggled to gain traction holding weaker below the 109.00 handle. source fxstreet [read more]

US: Economic growth to continue through first half of 2018 - CB

The U.S. LEI continued rising rapidly in December pointing to a continuation of strong economic growth in the first half of 2018. The passing of the tax plan is likely to provide even more tailwind to the current expansion Ataman Ozyildirim Director of Business Cycles and Growth Research at The Conference Board noted on Thursday. Key quotes The gains among the leading indicators have been widespread with most of the strength concentrated in new orders in manufacturing consumers outlook on the [read more]

Oil Near 3 Years High $70

Oil prices shot to fresh threeyear highs on Thursday with Brent climbing atop $71 a barrel after the market saw another drop in U.S. crude inventory and the dollar continued to sell off.March West Texas Intermediate crude CLH8 0.76%  rose 67 cents or 1% to $66.29 a barrel knocking out the threeyear high the contract saw at Wednesdays close when it [read more]

Can Apple Stock Hit $1 Trillion Market Cap. And Stock Reach $200?

Apple Inc. (NASDAQAAPL) isnt as emotionally driven a stock as say Advanced Micro Devices Inc. (NASDAQAMD) Tesla Inc (NASDAQTSLA) or Chesapeake Energy Corporation (NYSECHK). But that doesnt mean AAPL stock doesnt have a fierce set of bears and bulls the latter of which has been winning the battle.Over the past 12 months AAPL has climbed an eyepopping 47%. Whys that so impressive Considering its $910 billion market cap Apple stock is just a stones throw from $1 trillion in market cap.In order for Apple stock to hit [read more]

The Week Ahead 22-26 Jan

Earnings season grinds on with a variety of US companies issuing updates.Key ones to watch this week include Netflix Intel and Caterpillar in the US. EventswiseUK employment data and central bank meetings in Japan and the eurozone are the main ones to watch for this week. Monday (time London time)1.30pm US Chicago Fed natl activity index (December) expected to rise to 0.44 from 0.15. Markets to watch US indices USD crossesTuesday3am BoJ rate decision no change in policy expected but [read more]

BoJ officials reported as saying current stimulus is needed for now

Bloomberg quoted an unnamed Bank of Japan (BoJ) official as saying that the current is needed for now while adding that the market is getting ahead of itself. Some BoJ officials see the need for future normalization talks Key Quotes A small shift is taking place in internal discussions among Bank of Japan policymakers with a minority raising the need to eventually start discussing policy normalization even though they agree the current stimulus program must continue unchanged for some time. [read more]

Stock Market Peak Still At Least A Year Away. Bank of America

Stock market peak still at least a year awayfund managers say in Bank of America surveyFund managers have reduced cash to the lowest level in five years andare at a twoyear high in allocation to stocks according to a Bankof America Merrill Lynch survey.Hedge funds have increased equity allotments to the highest level since2006.The moves come as stockbased ETFs have taken in $16.5 billion alreadyin 2018 as the S&P 500 has opened the year up 4.1 percent. Professional investors are going all in on the raging bull market reducing cash allocations to the lowest [read more]

Bitcoin & Ethereum Suffered Massive Drops.

 Bitcoin and ethereum suffered massive drops but manycryptocurrencies are faring even worseMost major digital currencies sold off sharply on Tuesday but thedeclines in bitcoin ethereum and litecoin prices werentas bad as much of the rest of the market. [read more]

Bitcoin Stay Afloat $13,000

Bitcoin was posting modest gains on Monday holding above the $13000 level while Ripple prices were coming under pressure.The bitcoin spot price BTCUSD 2.80%  was at $13697.90 up 0.6% according to research site The cryptocurrency moved above $14000 on Saturday but has since pared those gains. On Monday the spot price has traded between a low of $13401.24 and a high [read more]

The Week Ahead 15-19 Jan

US earnings to dominate the week with the US financial sector and IBM some of the big ones to watch for. In the UK miners retailers and a host of others update the market. [read more]

Oil Price Watching US Move On Iran

Oil pricesdeclined on Friday stepping back from threeyear highs as traders awaited theTrump administrations decision on whether to extend temporary waivers onsanctions against Iran.West Texas Intermediate oil for February delivery CLG8 0.44%  lost 35 cents or 0.6% to$63.45 while Brent for March LCOH8  [read more]

US Bank kick Off US Q4 Earning Seasons

They may seem more prestigious than plainvanilladeposittaking banks but Morgan Stanley and Goldman Sachs face the sameheadwinds as their peers as earnings season kicks off Friday.Both face onetime dings fromthe tax changesas reported inDecember.And both have excellent prospects for 2018 if strongereconomic growth around the world stronger inflation and choppier marketsemerge as expected.So JP Goldmanand Morgan Stanleywhich reportJanuary 12 and 18 respectively willjust have to hope that investors see the fourth quarter as one last hurdlebefore all the stars align for a brighter 2018. Heres what analysts [read more]

A Review Of US Stock Markets Performance

Stocks are finally set to take a breather on Wednesday. Buteven with the mild selloff its been an amazing start to 2018 on Wall Street.The Dow is near an alltime high. So are Dow transportation stocks. TheS&P 500. The Nasdaq. The small companies that make up the Russell 2000. Bigcorporations too Boeing (BA) Johnson & Johnson (JNJ) Fiat Chrysler (FCAU) Walmart (WMT) DowDuPont ( [read more]

US Equity Prediction For 2018, USATODAY

Its crystalball time for Wall Street stock strategists.For 2018 will it be a big gain for stocks Orlittle or no gain Depends who you ask.The most optimistic forecaster says the U.S. stockmarket  which has risen nearly 20% this year  will post anotheryear of sizable returns. The markets biggest skeptic thinks the rally willstall and stocks will end next year pretty much where theyre trading now.That said yearend predictions are more art thanscience. And predicting the future isnt necessarily Wall Streets strong suit.At the start of 2017 for example not a [read more]

Oil Highest Since 2015, But Can It Go Higher?

U.S. oil prices hit their highest since 2015 again on Tuesday as speculators bet on further price rises amid OPECled production cuts and a dip in American drilling activity though some warned the rally could run out of steam. U.S. West Texas Intermediate (WTI) crude futures were at $62.24 a barrel at 0252 GMT 51 cents or 0.8 percent above their last settlement. They earlier marked a May2015 high of $62.56 a barrel.Beyond that 2015high which was [read more]

CNBC: 5 Predictions For Cryptocurrencies in 2018 - Including Stomach-Churning Drops, Bitcoin-Related IPO

Five predictions for digital currencies in 2018 including stomachchurning drops bitcoinrelated IPO         More institutions will get into cryptocurrencies [read more]

NYSE To Launch

The New York Stock Exchange has filed for permission to launch a number of Bitcoinrelated exchangetraded funds (ETF) just one week into 2018.As reported by BusinessInsider a filing sent to the United States Securities and Exchange Commission shows that the exchange intends to launch five different ETFs offering bull and bear futures contracts on the Arca stock exchange.These EFTs will be linked to the price of Bitcoin futures listed on the CMEand Cboe exchanges which launched Bitcoin futures contracts in December 2017The target benchmarks value will be calculated as the [read more]

The Week Ahead 08-12 Jan

While the US and Chinese consumer price index (CPI) will be important for markets and the beginning of US earnings season that will dominate the news flow this week. US banks take their traditional place at the head of the reporting season with the recent highs in US markets ensuring that the focus remains squarely on the health of corporate USA. Monday6 pm eurozone business confidence (December) expected to rise to 1.55 from 1.5. Market to watch EUR crossesTuesday1 pm Japan consumer confidence (December) forecast to increase to 45.1 from 44.9. Market to watch JPY crosses [read more]


Japanese Yen and Swiss Franc are trading as the weakest major currencies for the week on strong global risk appetite. Nikkei is extending recent rally in the Asian session after hitting 26 years high yesterday. DOW S&P500 and NASDAQ also closed at record highs again overnight following the record high in FTSE. Commodity currencies and Euro are the main beneficiaries in the current market sentiments. Dollar on the other hand stays generally weak except versus Yen and Franc. Nonfarm payroll report in particular wage data will be key to whether the greenback can stage a turnaround. In [read more]

Bitcoin Past The Bubble Move, More Big Move Coming

Heavy volatility in the digital currency bitcoin is nothing new but recent trading activity suggests that investors hoping to see 2017s massive gains extended into this year shouldnt hold their breath.The worlds largest cryptocurrency has seen some massive price swings over the [read more]

US Indices Closed At Fresh All-Time High Wednesday

U.S. stockmarket indexes pushed further into record territory with the main benchmarks closing at fresh alltime highs Wednesday.The main benchmarks held on to earlier gains after [read more]

As Fed Up Next Year Economic Growth, Members Divided On How Many Rate To Be Hike

US central bankers are divided over how fast they will need to raise interest rates next year given differences over the causes behind the low inflation and wage gains seen to date according to a report released Wednesday.The minutes of the December 1213 policy meeting when the Federal Reserve raised the benchmark lending [read more]

US Dollar To Weaken 5.0% In 2018, According To CiTi

The US Dollar is forecast to weaken in 2018 amidst a build up in foreignowned U.S. liabilities accelerating global economic growth relative to the U.S. and dampened inflation expectations. The largest dealer of foreign exchange in the world Citibank is bearish the Dollar in 2018 expecting the worlds reserve currency to lose up to 5.0%. Releasing their latest set of Dollar forecasts Citi reckons one of the main reasons for the expected weakness in the Dollar is the buildup of large foreignowned positions in US financial markets which are at risk of being redeemed and repatriated.Conversely the position [read more]

CNN Money Look Into 2018 US Stock Markets

Stocks had a phenomenal year in 2017. 2017 is now over. So what comes next for the marketWell if the first trading day of 2018 is any indication things look promising. The Dow quickly leaped to a tripledigit point gain Tuesday morning. And many experts are predicting another solid year for U.S. stocks in 2018 albeit not as strong as last year.The S&P 500 rose about 20% in 2017. The Dow surged 25% while the Nasdaq soared nearly 30%. It will be hard to repeat that.Bill Stone chief investment strategist with PNC Asset Management [read more]

If 2017 Is Good For Stocks, 2018 Will Be Even Better

By all measures 2017 was a stellar year for U.S. stocks with the Dow hitting several record highs and the S&P 500 closing at an eyepopping level of 2700.  But will the smooth sail continue this year Wall Streets bulls believe that sweeping tax cuts by the Republicanled Congress will add up to bigger profits and larger stock gains this year. The market is also expected to continue its winning streak banking on a rise in wages and more confident consumers. Needless to [read more]

What Should Investors Be Most Worried About In 2018

Wevepublished dozens of articles on the subject in the past several months withadvice from analysts calls from prominent traders and other analyses of thesubjects keeping investors and MarketWatchs editorial team awake at night.Here we bring all those worries and watchers to you in a single big fatlist.Call it theultimate New Years reading list for the concerned investor hiding inside eachof us after a 2017 in which the Dow Jones Industrial has broken a record forbreaking records the S&P 500  has rallied 20% and nothing seemedto get investors down for long.1.Bitcoin [read more]

King Of Cryptocurrency To Recover Or Crash To $6,000?!

          Bitcoin recovers some losses after its worst week since 2013 [read more]

The Week Ahead 02-05 Jan18

The Week Ahead (Time HKSG)Tuesday [read more]

Apple Face Lawsuits After Saying It Slows Down Old iPhone, Stock Price Fell

Apple faces lawsuits after saying it slows down aging iPhones         Apple defrauded iPhone users by slowing devices without warning to compensate for poor battery performance several lawsuits claim [read more]

Bitcoin Boom Remind Investors The Important Of Diversify

        A bitcoin implosion couldspill over into stock market warns Wells Fargos Chris Harvey        A significant amount of froth exists in the marketfor bitcoin Litecoin and other cryptocurrencies said Wells Fargos ChrisHarvey.        The risk of implosion could easily trickle [read more]

 Bitcoin falls by more than $2000 in 12 hours         Bitcoin fell through the psychologically key level of $14000 before regaining some lost ground [read more]

Senate Pass US Tax Bill

WASHINGTON The House forced to vote a second time on the$1.5 trillion tax bill moved swift