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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

The Week Ahead

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

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]

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]

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]

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 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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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 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]

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]

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]

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]

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]

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 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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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 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]

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]

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 '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 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]

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]

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]

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]

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]

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]

(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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

Britain Unveils New Fintech Plans, Including Cryptocurrencies

LONDON (Reuters) Britain will announce [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 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]

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]

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]

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]

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

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]

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]

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]

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]

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]

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]

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]

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]

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]

Trump Want

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

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

What To Expect For US January Non-Farm Payroll

        calendar by forexfactory.com     For unemployment an unchanged rate of 4.1% [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]

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]

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]

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]

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]

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]

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]

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]

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 CoinDesk.com. 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]

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]

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]

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]

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]

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]

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]

USDJPY & USDCHF Lower Against USD

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]

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 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]

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]

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]

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]

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]

The Week Ahead 02-05 Jan18

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

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

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

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]

BoJ kept Rate Unchange

Japanscentral bank leaves its monetary policy unchanged        The Bank of Japan released its [read more]

NYSE Arca Applying Bitcoin ETFs With SEC

NYSE Arca an exchange owned by New York Stock Exchangesparent company has resubmitted an application with the SEC to list a pair ofBitcoinbacked exchangetraded funds or ETFs that would tracknewlyintroduced Bitcoin futures contracts.The two products would be known as the ProShares Bitcoin ETF and theProShares Short Bitcoin ETF. Proshares filed for essentially the same products in September but the futures they proposed to track hadntyet been introduced.Other bitcoin [read more]

Senate Pass US Tax Bill

WASHINGTON The House forced to vote a second time on the$1.5 trillion tax bill moved swiftly to pass the final version on Wednesdayclearing the way for President Trump to sign into law the most sweeping taxoverhaul in decades.House lawmakers approved the tax bill 224 to 201 onWednesday after being forced to vote on the bill again after lastminuterevisions were made to it in the Senate which passed the measure 51 to 48early Wednesday morning.The final House vote [read more]

Bitcoin Drop More Than 12% As Market Player Start Accepting & Trading Bitcoin Cash

Bitcoin drops more than 12% as top cryptocurrency marketplace starts supporting rival bitcoin cash         coinbase said Tuesday that customers can now buy and sell bitcoin cash [read more]

US Senate PassSweeping Tax Bill

The House on Tuesday approved the most sweeping tax overhaul in decades voting along party lines to enact deep and permanent tax cuts for corporations and temporary cuts for individuals.The vote puts Republicans closer to final passage of the $1.5 trillion tax cut as the Senate prepares to vote on the final bill on Tuesday.However the Senate parliamentarian has rejected three provisions from the Senate bill saying they violate the socalled Byrd rule. This means the House will have [read more]

US Stock, The USD, The Oil, The Gold

Stocks buying momentum continued into US trading with the S&P 500 Dow Jones Industrial Average and techheavy Nasdaq Composite all setting new alltime peaks. The S&P 500 ended the day 0.5 percent higher and the Dow Jones Industrial Average was up 0.6 percent.The Nasdaq Composite surging above the 7000 level for the first time was the highlight of US tax cut optimism that pushed global stocks to their best daily performance in five months. The Nasdaq Composite rose to a high of 7003.891 points but closed at 6994.76 for a gain of 0.6 percent. That took [read more]

ETHUSD Burst New High With Network Transaction Speed

Ethereum new high continuedinto today as the digital currency topped $845. This brought Ethereums marketcapitalization to an astonishing over $72.5 bln. Transaction throughputThe networkstransaction speed and fee normalisation seem to have influenced the priceincrease. Cofounder Vitalik Buterin posted on Twitter that theEthereum network surpassed 10 transactions per second for an entire day onTuesday.This has brought downunconfirmed pending transactions considerably. Ethereum and Bitcoin in recenttimes have been experiencing huge numbers of pending transactions. According toEtherscan.io Ethereum processed a record 828899 Transactions on Tuesday. [read more]

25 Companies That Will Benefits From Trump's Tax Plan

Hereare 25 companies that will benefit the most from the GOP tax planWallStreet analysts have been hard at work giving clients ways to play tax reform.Wesee benefits for many U.S. companies especially those with high corporate taxrates and considerable overseas cash and investments CFRAs researchteam wrote Wednesday.President DonaldTrump and the Republican Congress will likely pass tax reformin the near future. Wall Street analysts have been hard at work giving clientsways to play this big moment for the markets.House and Senate negotiators have reached adeal on a [read more]

CME Debuts Bitcoin Futures But Jan2018 Off High

CME Groups longawaited bitcoin futures trading began today the Jan. 18 contracts opened above $20000 but is now losing it grip now down 750 trading at $18750 on the world biggest futures exchange.Coming months after the Chicagobased derivatives exchange operator first revealed plans to launch dedicated products for bitcoin the launch took place at 6 p.m EST today. The opening price for the January contract was $20650 $1150 over the presettled price of $19500.Since the opening bitcoin on major exchanges are seeing price continuing Sunday slid off Friday high at time of writing Bitcoin was at $18164. [read more]

The Week Ahead Dec 18

Reserve Bank of Australia (RBA) minutes a Bank of Japan (BoJ) rate decision US durable goods orders and eurozone consumer confidence are the main events to watch out for in what is a quieter week as markets gear up for Christmas.Monday10am eurozone inflation (November final) YoY figure expected to be 1.5% from 1.4%. Market to watch EUR crossesTuesday12.30am RBA meeting minutes these will shed further light on the [read more]

Analyst Who Predicted Bitcoin's Rise Now Sees It Hitting $300,000-$400,000

        Ronnie Moas in July put a $5000 price target onbitcoin when it was at $2600        The [read more]

If you Brought This 4 Cryptocurrencies At The Beginning Of The Year

          Litecoin Founder Charlie Lee wants people to stop fussing over the rally in the cryptocurrency [read more]

FOMC to raise the federal funds rate by 25bp – HSBC

HSBC Analysts offered their thoughts on what the Federal Reserve (Fed) is likely [read more]

Cboe Bitcoin Futures Up Almost 20% On First Day Of Trading

Bitcoin futures surge more than 19% during the first day of trading         The bitcoin futures launched under the XBT ticker [read more]

Cboe Start Bitcoin Futures

Bitcoin jumps higher as futures trading begins on Cboe         The new futures can be monitored on CNBC.com. [read more]

Central Bank And The Week Ahead

It is a busy week for central banks with the Federal Reserve (Fed) Bank of England (BoE) and European Central Bank (ECB) all on the agenda. Only the Fed meeting is expected to see any substantive changes to policy but the others will remain interesting given the potential for changes in language or outlook.Monday4.30am JPN Machinary order yoyTuesday9.30am UK CPI (November) expected to rise to 3.1% YoY from 3% and 0.2% MoM from 0.1%. Core CPI expected to increase to 2.8% from 2.7% YoY. Market to watch GBP crosses [read more]

‘FOMC almost certain to deliver the third rate hike of 2017’ – Goldman Sachs

Goldman Sachs Analysts came out with a brief preview on their expectations on the final FOMC meeting of this year with a rate hike widely pricedin by the markets.Key QuotesFOMC almost certain to deliver the third rate hike of 2017.Attention is likely to focus on the outlook for 2018 and beyond.In particular on how the Federal Reserve will react to a tax reform that now appears likely to become law.The economic data have improved slightly on net since the FOMC last met in early November.Growth momentum has remained [read more]

The Futures Exchange May Stabilize Bitcoin Price

The cryptocurrency market has had a banner year thanks to the meteoric rise in bitcoin prices and the huge popularity of initial coin offering as a new way of fundraising.Many people are buying into new digital tokens with the assumption that those virtual currencies will appreciate over time at levels similar to bitcoin or [read more]

US November Non-Farm Payroll

The biggest economic event of the month is here the November jobs report.At 830 a.m. ET the Bureau of Labor Statistics will release the November jobs report which should show the economy added 195000 nonfarm payrolls in the secondtolast month of 2017. The unemployment [read more]

Bitcoin Up Almost $4,000 In 4 Days

Bitcoin blasts past $14000 less than 24 hours after crossing $12000Bitcoin crossed the $14000 mark after rising above $12000 less than 24 hours earlier.The digital currencys latest swing higher comes after a 20 percent plunge last week.The overall pace of gains has accelerated in the last several weeks ahead of the launch of bitcoin futures by major exchanges.Bitcoin rocketed higher Wednesday crossing the $14000 mark less than 24 hours after topping $12000.The landmark happened on the Coinbase exchange just before 6 p.m. ET and it traded as high as $14400 on that platform.That [read more]

Australia: Economy grew by 0.6% in Q3 - Westpac

(pictures absoluteimmigration.com)The Australian economy grew by 0.6% in Q3 a downside surprise [read more]

China November data to show economy facing pressure – Reuters Poll

According to the latest Reuters poll the Chinese data dump due to be [read more]

Tokyo Financial Exchange Preparing To Launch Its Own Bitcoin Derivatives Futures products.

Taking a cue from its U.S. rivals the Tokyo Financial Exchange is now preparing to launch its own bitcoin derivatives futures product.The Tokyo Financial Exchange one of Japans leading financial exchanges that counts the likes of JPMorgan Chase among its trading participants is set to join the mad rush among traditional financial institutions to support bitcoin as a financial product.The institution will first create a working group to study and research cryptocurrencies before listing bitcoin futures trading contracts according to chief executive Shoza Ohta. The listing which would become Japans first [read more]

Cboe Global Markets Inc. Will Launch Bitcoin Futtures Contract On Dec 10

Cboe GlobalMarkets Inc. will launch its bitcoin futures contract on Dec. 10 just over aweek ahead of rival CME Group Inc. as the exchange operator takes the nextstep toward launching an exchangetraded fund based on the digital currency.Bitcoins price has soared tenfold this year promptingmany market participants to warn of a bubble as it topped $11000 for the firsttime last week.Bitcoin futures and other derivatives would make iteasier for more investors and speculators to trade the new asset class. [read more]

The Week Ahead Dec 4-8

Last week the markets surged higher on hopes that Tax Cutswouldsoon be here. But that dream seemed to be shortlived on Friday at least atthe open as US president Trump General Mike Flynn guilty plead. US jobs numbers UK purchasing managers indexes (PMIs) Japan consumer confidence Australian GDP and ECB president to speak are the major events to [read more]

Bitcoin Touch Another High On Sunday

After a day of largely sideways trading the price of bitcoin is once again back in uncharted territory.Beginning at 1100 UTC bitcoin saw a sudden surge data from the CoinDesk Bitcoin Price Index (BPI) reveals rising from $11115 to set a new high of $11655 by the end of the hour. The nearly 5 percent gain saw bitcoin erase its previous alltime high of roughly $11300.Allinall bitcoin is up nearly 7 percent on the day rising more than [read more]

Opec & Russian To Extend Oil Production Cut

 OPEC and Russia agree toextend oil production cut to end of 2018OPEC and nonOPEC oil giant Russia have agreed to extend oil output cutsuntil the end of 2018 following hours of discussions in Vienna according totwo reports.The move was heavily signaled ahead of the decision but the oilproducers had earlier indicated they could exit the deal if they feel themarket was overheating.OPEC andnonOPEC oil giant Russia agreed Thursday to extend production cuts until theend of 2018 following hours of discussions in Vienna.The move was heavilytelegraphed ahead of the decision but [read more]

Bitcoin Consolidating, Investor Eyeing Technical Level For Next Entry

Bitcoin hovered around $9600 in volatile trade on Friday after tumbling about 15 percent from an alltime high hit this week as some investors warned ominously of a bubble and further falls in the stratospheric cryptocurrency. Bitcoin was down 2.8 percent at $9612 in early Asian trading on the Luxembourgbased Bitstamp exchange from a record peak of $11395 set on Wednesday. On Thursday it went as low as $9000.. [read more]

US Stock Closed Above 24,000 For The First Time

The Dow finished above 24000 points for the first timeThursday (Nov 30) surging with the S&P 500 to fresh records as the Senatetax cut plan moved closer to passage.The Dow Jones Industrial Average jumped 1.4 per cent an increase of morethan 330 points to end the session at 24272.35.The broadbased S&P 500 gained 0.8 per cent to end at 2647.58 whilethe techrich Nasdaq Composite Index advanced 0.7 per cent to 6873.97 fallingshort of its prior record set two days ago.Republicans in the Senate have so far set aside concernsabout the longawaited tax bill including estimates [read more]

Bitcoin Did A $2,500 Correction After Hitting $11,500

Rise above $11000gives way to 20 percent drop in 90 minutesMassive spike inexchange traffic leads to some outages It takes a lot to startle fans of bitcoin the digital goldof the moment. But Wednesday was well a lot a wild run of exuberant peaks and whiteknuckled declines that lefteven diehards breathless.The dizzying rally in bitcoin a bull market with few precedents ininvesting history was abruptly interrupted by a market outage in the U.S. thatseemed to captivate Wall Street even more than the days  [read more]

Nasdaq Plans To Launch Bitcoin Futures In Q2 2018

Nasdaq plans to launch bitcoin futures as early as thesecond quarter of 2018 according to exchange officials.The CBOE and the CME have also announced plans to launch futures tied tothe cryptocurrency shortly. A Nasdaq spokespersonsaid that the exchanges futures would differentiate from CBOE and CME becauseNasdaq would base its price off of 50 bitcoin sources from around the worldwhile CBOE is currently using one and the CME is using four.One issue facing bitcoin products is the issue of what happens if there isa hard fork i.e. what happens if bitcoin splits [read more]

OPEC And Russian Expected To Cut Production

OPEC meeting becomes Russianpsychodrama but deal still expected [read more]

Fed Dudley Say Not Concerned US Inflation Is A

Weak US inflation is not troubling even in the face of fullemployment one of the Federal Reserves more influential policymakers said onMonday reinforcing the central banks mantra that it is gradually raisinginterest rates.Im not particularly concerned that inflation is a little bit belowtarget New York Fed President William Dudley said at a forum hosted byUniversity of California Berkeley where he also weighed in on the dangers tothe United States of trade protectionism and he questioned the need for taxcuts.Mr Dudley a close ally of Fed Chair Janet Yellen who [read more]

Bitcoin Closing In On $10,000 Milestone, Time To Buy?

BITCOIN is rapidly closing in on yet another record.The value of thecryptocurrency continues to rise exponentially adding another 15% over the weekendto top $US9000 for the first time after breaking $US8000 only a week earliermarking its fastest 1000point rise ever.By Tuesday morning bitcoin was trading at $US9650 and it does feel like its just amatter of time before the digital currency hits the $US10000 milestoneaccording to IG Markets chief strategist Chris Weston. [read more]

Global growth to boost Japanese corporate earnings in 2018 - Moody's

Moodys Japan says that moderate global economic growth and solid domestic demand will [read more]

Bitcoin At Historical High This Monday, $9,694.90

        Bitcoin cracks $9600 justhours after breaking $9000 level        Bitcoin surged to yet another new record high onMonday [read more]

US Oil Dip On Increase Drilling, But OPEC Will Maintain Cut.

U.S. oil prices dipped on Monday easing from twoyear highs on theprospect of increased U.S. output although global markets were slightly bettersupported by expectations an OPECled supply cut will be extended. U.S. West Texas Intermediate (WTI)crude futures were at $58.65 a barrel at 0252 GMT down 30 cents or 0.5percent from their last settlement. Brent crude futures LCOc1 fell just 13cents or 0.2 [read more]

OPEC Have To Decide Whether To Extend Global Supply Cut.

OPEC will have todecide whether to extend global oil cuts without knowing whether theyretriggering a new flood of rival supply from U.S. shale producers.  Analysts gavediffering outlooks for U.S. shale output in a briefing to officials from theOrganization of Petroleum Exporting Countries stoking concern ahead ofOPECs planned meeting on Nov. 30 according to people with knowledge of thediscussions. The analysts included Andy Hall the veteran crude trader whoclosed his hedge fund this year said the people who asked not to beidentified because the  [read more]

US Unemployment At 4.1% May Tumble To 3.5% In 2019

Americas unemploymentrate has plummeted from 10% during the Great Recession to 4.1% today GoldmanSachs thinks its not done falling.Theunemployment rate is likely to tumble to 3.5% by the end of 2019 Goldman Sachspredicted in a report published late Friday.The last timeunemployment was 3.5% was December 1969 according to the Bureau of LaborStatistics.Such a scenariowould take the U.S. labor market into territory almost never seen outside of amajor wartime mobilization Goldman Sachs chief economist Jan Hatziuswrote.Its a remarkabletransformation given the millions of jobs lost and 10% unemployment experiencedin [read more]

Most Fed Member Favor Near Term Rate Hike: miutes

A majority of US central bankers favour raising benchmarkinterest rates in the near term signalling the Federal Reserve is likely totighten monetary policy next month minutes from their last meeting revealedWednesday.But sharp disagreements persist among policymakers over the dangers ofinflation and the need to raise rates according to the minutes of the FedsOctober 31November 1 meeting.Some members are also concerned that Wall Streets dizzying heights andrecordsmashing rallies could spell trouble.The Fed has raised rates twice in 2017 and markets widely expect it toadopt a third increase next month despite persistently [read more]

Keystone Pipeline Spill Send Oil Price Higher

The prospect of a prolonged cleanup from a leak along a large oil pipelinesent US crude prices higher on Wednesday as traders braced for lower suppliesfrom Canada. The Keystone pipeline which runs south from the Alberta oil sandsto American refineries spilled about 5000 barrels in South Dakota last weekowner TransCanada said. The incident took place four days before TransCanadawon a critical permit to build another pipeline south from the oil sands calledKeystone [read more]

RT News Host Believes Bitcoin Ultimately Reach $100,000

While the price ofmultiple cryptocurrencies continue to see their values soar the current priceof Bitcoin suggests it is still very much the father of digital money. MaxKeiser host of Russia Todays Keiser Report agrees and believes that Bitcoinwill ultimately reach a price of $100000.The price of Bitcoinhit an all time high over the weekend moving past the $8000 mark followingan uncertain couple of months that had the SegWit2x fork hanging over themarkets like a dark cloud. Yesterday Bitcoin continued its rise nearlytouching $8400 and establishing another all time high.Keiser believes thatBitcoins ability [read more]

ECB Draghi:

The head of Europes central bank thinks cryptocurrenciesare too lowimpact to regulate.Speaking to the European Parliament on Monday Mario Draghi said digitalcurrencies are not a threat to the ECBs control over the euro due to a lack ofadoption within the 27member economic bloc. As a result cryptocurrenciesimpact on the economy would be limited according to Reuters.He was quoted as telling lawmakersWe thinkthat all this is pretty limited. So its not yet something that couldconstitute a risk for central banks.Draghis [read more]

Bitcoin Futures Come To Live On Dec 11

New details have been posted about CME Groups upcomingbitcoin futures which barring any delays from regulators will starttrading on Dec. 11.The derivatives exchange operator has published information about thecontract launch on its website following CME CEOTerry Duffys headlinegrabbing announcement fromlast week. At the time Duffy said that trading could go live as early as thesecond week of December.Now the company has all but confirmed that statement writing on itswebsiteEffectiveSunday 10 December 2017 for trade date Monday 11 December 2017 andpending all relevant regulatory review [read more]

Euro Zone Recovery Is

The eurozones economic recovery is solid andbroadbased but the region still needs an ample dose ofmonetary stimulus because inflation remains too weak European Central Bankpresident Mario Draghi told European lawmakers Monday.Speaking at the European Parliament in Brussels Mr. Draghi warned thatinflation had yet to show convincing signs of a selfsustained upward trenddespite the improved outlook for economic growth.Eurozone inflation was 1.4% in October and is expected to temporarilydecline towards the turn of the year mainly due to weaker energy prices on ayearonyear comparison Mr. Draghi said. The ECB aims to keep inflation [read more]

Oil Regain Some Ground

Oil futures rose slightly on Tuesday on the heels of apullback that retraced some of the markets endofweek rebound.January light sweet crude onthe New York Mercantile Exchange CLJ8 0.07%  wasrecently up 5 cents at $56.45 a barrel in the Globex training session. BrentLCOJ8  [read more]

[read more]

You Think 2017 Surprisingly Good? Wait till 2018.

GoldmanSachs says if you thought 2017 was surprisingly good just wait for 2018        2017 is shaping up to be the first year of theexpansion in which growth surprises to the upside Goldman analystCharles Himmelberg says. [read more]

Oil At $56.67 But Market Remain Cautious Ahead Of OPEC Production Cut.

Oil markets were tepid on Monday as traders were reluctant to take onbig new positions ahead of an OPEC meeting at the end of the month when theproducer club is expected to decide whether to continue output cuts aimed atpropping up prices.Brent crude futures LCOc1 the international benchmark for oil prices were at$62.46 per barrel at 0052 GMT down 26 cents or 0.4 [read more]

Alibaba's Singles Day Beat Forecast By 20%, $33 Billions In 24 Hours

Investors closely watch the headline number though some analysts say the way it is calculated is too opaque.The [read more]

Bitcoin, What Happen? Where Next?

It has been a impressive weekend for Bitcoin now US$5842.17which is down by 30.2% ($2027.27) from Wednesday historical high of $7869.44. What HappenOver the weekend the Bitcoin price plunged as low as US$5507before recovering slightly amid disagreements about the future of Bitcoin amongdigital currency developers.These disagreements relate to an upgrade called SegWit2x which was calledoff last week just days before it was supposed to take place. The upgrade hadbeen proposed as a way of improving Bitcoins transaction speed and cost butsupport of the upgrade has softened [read more]

Eurozone Growth Forecast 2.2% From Previous 1.7%

The EUsharply raised its eurozone growth forecast for 2017 on Thursday confidentthat the economic recovery was gathering pace despite the uncertainties ofBrexit.The 19country eurozonewill grow by 2.2 per cent in 2017 its fastest pace in a decade the EuropeanCommission said in its autumn economic forecasts.This was substantiallyhigher than the previous forecast of 1.7 per cent and comes just after the EUslatest GDP growth figures resoundingly beat expectations.The commission said darkclouds that did exist included the outcome of Brexit talks beween EU andBritain as well as geopolitical tensions [read more]

Oil Price Risen 1% On Supply Cuts Geo-politics Tension

Oil prices have risen nearly oneper cent supported by supply cuts by major exporters as well as continuingconcern about political developments in Saudi Arabia.Brent crude oil was up 59cents or 0.9 per cent to $US64.08 a barrel by 11.30 am (0330 Friday AEDT)still close to Tuesdays intraday high of $US64.65 which was the highestsince June 2015.US light crude was up 46cents or 0.8 per cent at $US57.27 just shy of this weeks more than twoyear highof $US57.69 a barrel.The move is driven bydevelopments [read more]

Ethereum Is Here To Stay

There isirrational exuberance in the initial coin offering (ICO) market andits a technology thats here to stay the cofounder of Ethereum saidWednesday.Joseph Lubin told CNBC thatwhile there is a lot of excitement around ICOs the longterm potential of theprofoundly powerful technology is huge.Theres certainlysome irrational exuberance in the space its such a profoundly powerfultechnology that people are excited about it and I think that thats whatsdriving this rush into the ecosystem Lubin said in a TV interview at theWeb Summit technology conference in Lisbon Portugal.People tend to orgroups [read more]

BTCC Cryptocurrency Exchange CEO Bitcoin Not Expensive

Therewas a joke on social media some guy lost his sex drive because he sold bitcoinafter the China ban.And withthat Bobby Lee the CEO of Chinas oldest cryptocurrency exchange BTCClaunched into a scheduled speech extolling the [read more]

Growth, Profits & A Tone Down Trump Drive Asian Stocks Higher

BETTER daysahead are expected for regional equity markets which are now on a rollhitting fresh highs on the back of optimism in global growth and positiveearnings conditions as investors shrug off looming concerns.Analysts say all signspoint to an extension in the regional rally even if investors choose to takeprofits in the sessions ahead.IG analyst Jingyi Panbelieves the dips in regional indices have so far proven to beshallow as market sentiments are buoyed by economic conditions that arelikely to fuel the further gains in the near term. [read more]

Now Logistic Are Going Into Blockchain.

Global shipping giantUPS has joined a blockchain consortium focused on the trucking and shippingindustry.The aptlynamed Blockchain in Trucking Alliance (BiTA) announced today that the firm will help develop standardsaround the techs use for systems that track packages facilitate [read more]

OPEC Member Seek Production Cut

VIENNA (Reuters) OPEC isseeking to achieve consensus agreement before a meeting on Nov. 30 on how longto extend a global pact to curb oil production OPECs secretary general saidon Tuesday with no country unwilling to prolong the accord. TheOrganization of the Petroleum Exporting Countries plus Russia and nine otherproducers are cutting oil output by about 1.8 million barrels per day (bpd)until March 2018 [read more]

Oil Holds Near Two Years High On Prospect Of More Saudi Arrests

        Saudi attorney general says arrests just start of crackdown        U.S. crude stockpiles probably fell by 2.45 million barrelsOil tradednear the highest close in more than two years as political upheaval in topcrude exporter Saudi Arabia reverberated through a market where prices werealready elevated by signs of tightening supply. [read more]

EU Zone Retail Sales Surge Where UK Slid.

BRUSSELS (Reuters) A surge in sales of clothes furniture andelectrical goods boosted euro zone retail sales in September by more thanexpected despite a fall in motor fuel sales pointing to rising domestic demandas the economy gathers pace. The European Unions statistics office Eurostat said on Tuesday thatretail sales in the 19 countries sharing the euro rose 0.7 percentmonthonmonth for a 3.7 percent yearonyear jump. [read more]

Hedge Funds Are Pushing Bitcoin Price To New High

        Theprice of a single Bitcoin climbed from below $6000 two weeks ago to above$7400 on Monday more than it moved in the virtual currencys first sevenyears in existence. [read more]

What To Expect This Week For US

Earnings season is coming down the home stretch with a few notable namesyet to report and well get a few more clues about the direction of theeconomy.Donald Trump tripAfter an eventful week in which the Republicans rolled out their longawaited tax reform planthe president will now switch to an international agenda with a trip throughthe AsiaPacific region in an effort to drum up economic development.The tour begins in Japan whereTrump will meet with Emperor Akihito. Then hell do lunch with Prime MinisterShinzo Abe.From there Trump heads off to South [read more]

Japan Economic And Prices Outlook Gaining Momentum, BoJ's Kuroda Said.

NAGOYA Bank of Japan Governor Haruhiko Kuroda said onMonday that economic growth is gathering momentum and increasing the chances ofinflation hitting his 2 per cent target reinforcing market expectations thatno additional stimulus is forthcoming.Mr Kuroda said the central bank was closely watching the economic effectsof prolonged ultraeasy policy particularly the damage it could inflict onfinancial institutions margins.The current economic expansion doesnt rely on specific factors andis supported by various elements. We therefore see the expansion as highlysustainable Kuroda said in a speech to business leaders in Nagoyacentral Japan.The BOJ is mindful of [read more]

Today October NFP

Todaysnonfarm payroll report outlook is positively high markets expect 312000growth in the US employment market in October a strong rebound from Septemberdecline of 33000 cause by hurricanes Harvey and Irma. Unemploymentrate is forecasted to be unchanged at 4.2% in October. AverageHourly Earnings are expected to grow 0.2% month on month. The figurescould be heavily skewed as the aftermath of hurricanes. But judging from otheremployment related data the job market in US remained pretty healthy.ADP private payroll showed235000 growth in October up from Septembers 110000. Four week movingaverage [read more]

Fed's Dec Rate Hike Very Likely, Trump To Unveil Next Fed's Chair 3pm ET Thursday

Federal Reserve officialsreinforced expectations for a December interestrate increase by subtlyupgrading their assessment of the U.S. economy a day before President DonaldTrump plans to unveil his choice to lead the U.S. central bank.Economic activity has beenrising at a solid rate despite hurricanerelated disruptions the FederalOpen Market Committee said in a statement Wednesday following a twoday meetingin Washington at which they left rates unchanged as expected.After its meeting in Septemberthe FOMC said the economy was expanding moderately. Wednesdays statementmarked the first [read more]

BoE Expect To Rise Rate This Thursday

For morethan a decade interest rates in the UK have moved in only one direction down.But the Bank of Englands Monetary Policy Committee is expected to bring thisto an end on Thursday by announcing an increase from 0.25 per cent to 0.5 percent. The Bank has made a concerted effort since August to signal to themarkets that they should expect a rate rise so the event itself if it comesto pass will not be a surprise. Instead attention will focus on the forwardguidance and updated forecasts that accompany the announcement. Here are fourthings to [read more]

BREAKING NEWS: Jerome Powell To Be Next Fed Chair, & It Good For Stocks.

NEW YORK (Reuters) President Donald Trumps expected nomination on Thursday of Federal Reserve Board Governor Jerome Powell to be the next chair of the U.S. central bank likely will provide investors with some assurance of continuity in monetary policy supporting the eightyear long stock market rally but perhaps dealing a blow to those looking for a stronger U.S. dollar. [read more]

The market just did something unconventionaland it could spell even bigger gains aheadHistoricaltrends appear to be playing a significant role in where the stock market isheading next and thats good news for investors says strategist Sam Stovall.The chief investmentstrategist for CFRA in a note this week argues that the latest marketpatterns suggest this years recordbreaking rally is far from over.The market rose inprice in August September and October. And thats really only happened 12times since World War II. But in 11 of those succeeding times the market washigher in the [read more]

China Manufacturing PMI (caixin) Is 51.0 For October

    The CaixinMarkit manufacturing Purchasing ManagersIndex for October came in at 51.0 meeting expectations  That metric focuses on [read more]

BREAKING NEWS: CME To Launch Bitcoin Futures By Year End

CHICAGO Oct. 31 2017 CME Group the worlds leading and most diverse derivativesmarketplace today announced it intends to launch bitcoin futures in the fourthquarter of 2017 pending all relevant regulatory review periods.The new contract will be cashsettled based on the CME CF Bitcoin Reference Rate (BRR) which serves as aonceaday [read more]

Australian private credit: Housing slows, business consolidates after a solid half year - Westpac

Andrew Hanlan Research Analyst at Westpac points out that Australias total credit grew by 0.3% in September following gains of 0.5% in August and July.Key QuotesThe softer monthly outcome was due to a consolidation in business credit inching 0.1% higher which comes after a robust five months when gains averaged 0.5%. Housing credit continues to slow gradually with an increase of 0.48% following a 0.52% rise in August.Over the year to September 2017 total credit grew by 5.4% matching the outcome for September 2016. Annual growth [read more]

BOJ’s Kuroda: No change to our stance of proceeding with strong monetary easing

The Bank of Japan (BOJ) Governor Kuroda is on the wires [read more]

China factory growth seen easing slightly in October - RTRS poll

Results of the latest Reuters poll showed on Monday that a majority of the economists surveyed see the Chinese manufacturing activity slowing down this month in response to the Govts crackdown on air pollution. Key Findings The official manufacturing Purchasing Managers Index (PMI) on Tuesday is expected to come in at 52.0 for October down from 52.4 in September which was the highest in over 5 years according to a median forecast of 36 economists polled by [read more]

US: Expect a jump in payroll this week - ANZ

Analysts at ANZ expect a jump in US payroll this week and some [read more]

US Jobless Rise Modestly

The number of Americans filing for unemployment benefitsincreased less than expected last week suggesting the labour market continuedto tighten after recent hurricanerelated disruptions.Other reports on Thursday however offered a less favourable look at theeconomy. The goods trade deficit widened in September and retail inventoriesfell prompting the Atlanta Federal Reserve to trim its thirdquarter GDPgrowth estimate. In addition signed contracts to buy previouslyowned homeswere unchanged last month.Firms remain unwilling to release labour. The labour market is verytight said John Ryding chief economist at RDQ Economics in New York.Initial claims for [read more]

ECN & US Tech Earning Lift Asian Stocks and Push USD Higher

    Earnings from tech giants released after U.S. marketclose topped expectationsAsian markets rose in Friday trade as the euro extended losses afterThursday news from the European Central Bank. That followed U.S. stocks closingmostly higher and then several big name tech companies reportingexpectationtopping results.Markets on the moveFriday morning saw the Nikkei 225 tackon 0.94 percent as the [read more]

China to set a GDP growth target of

Bloomberg published its latest survey of economists on Friday offering their Chinese GDP targets for 2017 and 2018. Key Findings China should scrap annual gross domestic product growth targets altogether according to all but three economists of 17 who responded None forecast leaders will do so Instead they bet China will set a target for GDP growth of about 6.5 percent or 6.5 percent in 2018 according to 12 of 18 analysts polled. Five projects a range of 6 percent to 6.5 percent and [read more]

This News Will Push Bitcoin Pass $6,000 Again

Three factors converged to help the bitcoin price recover past $5960 onThursday enabling the flagship cryptocurrency to place itself within strikingdistance of $6000.Bitcoin Price Recovery Targets $6000Since setting a new alltime high near $6200 last week the bitcoinprice has struggled to maintain its forward momentum. Bitcoin receivedshortterm support from traders due to the Bitcoin Goldhard fork which airdropped coins equivalent to all bitcoin addressbalances as of block 491407 which was mined Tuesday morning. Immediatelyfollowing the fork the bitcoin price began to plunge and eventually dippedbelow $5400 as traders [read more]

Japanese Trade Minister - Very strong chance 11 nations can reach broad agreement on TPP

Comments from Japan Trade Minister crossing the wires via ReutersSee very strong chance [read more]

ECB To Announce Policy Shift

        ECB set toannounce unwinding of 60bnamonth quantitative easing programme a majorpolicy shift in Frankfurt pound dips 0.2pc to 1.1188 against the euroahead of the unveiling [read more]

US Trade Deficit Widen In September

[read more]

China Grand Ambition For Petro-Yuan

China hasgrand ambitions to dethrone the dollar. It may make a powerful move this year        China is looking to make [read more]

BREAKING NEWS: Xi Jingping Elected Secretary General Of China Communist Party

BEIJINGOct. 25 (Xinhua) Xi Jinping was elected general secretary of the CommunistParty of China (CPC) Central Committee for the second term at the first plenarysession of the 19th CPC Central Committee on Wednesday.Membersof the newly elected Standing Committee of the Political Bureau of the 19th CPCCentral Committee are Xi Jinping Li Keqiang Li Zhanshu Wang Yang WangHuning Zhao Leji and Han Zheng. source XINhaunet.com [read more]

President Trump Help Lunch With Senate Republicans For Poll On Fed Finalists

PresidentTrump conducted an informal poll of Senate Republicans to solicit their viewson the finalists he is considering to chair the Federal Reserve.The showofhands surveywhich Trump asked for during a closeddoor lunch meeting Tuesday at theCapitol pitted Federal Reserve governor Jerome Powell against StanfordUniversity economist John Taylor participants said. The president also askedabout Janet L. Yellen the current Fed chair whose fouryear term ends inFebruary.The poll did not appear toreturn a clear result though Sen. Tim Scott (RS.C.) told Bloomberg that hethinks Taylor won. Not everybody [read more]

Special Report: Gold & Silver Are Here To Stay

As thetreasure of kings gold and silver are more than just shiny objects to beadmired or fought over.What has enchantedhumanity for ages is their potential as a store of value.Investors rush to buy theprecious metals on war or financial crisis fears. After all gold and silverprovide insurance against catastrophe when paper currencies might be renderedworthless.Today the precious metalsare as relevant as ever. With stocks and bonds increasingly correlated to eachother in the era of low interest rates there are few other portfoliodiversifiers.Then thereis the capital appreciation. The [read more]

You're Hired! Trump Decide

In an interview onMonday he said he would name the new chair of the US central bank veryshortly.Who hechooses for the worlds most powerful economics job will influence his successat turbocharging growth. [read more]