News

Saudi oil production and export facilities hit Houthi drones attacked two Saudi Arabian oil plants in the heart of the kingdom’s oil industry, sparking massive fires. Reuters reports that up to 5 mbpd of production had bee impacted — half of Saudi Arabia’s output — as the attacks hit the world’s biggest petroleum processing facility.
Trade balance data out from China Sunday will not be viewed as a positive input for China-related risk markets.  The counter to this is, of course, the expectation of stimulus from China, some of which we have already indeed seen (eg. only on Friday we got news of  the cut to the RRR) and more
ECB and BOE speakers are on the agenda today Here’s the scheduled list of what to look out for in European trading: 0830 GMT – Christine Lagarde attends hearing in the European Parliament As ECB president candidate, Lagarde will be answering questions from lawmakers before a plenary vote on her candidacy. Her appearance will be
CFTC commitment of traders: GBP and AUD shorts are the largest positions Coming Up! Title text for next article Forex futures positioning data among noncommercial traders for the week ending August 27, 2019 EUR short 39K vs 38K short last week. Shorts increased by 1K GBP short 89K vs
Comments by Global Times editor-in-chief, Hu Xijin The tweet reads: “Based on what I know, Chinese and US top negotiators didn’t hold phone talks in recent days. The two sides have been keeping contact at technical level, it doesn’t have significance that President Trump suggested. China didn’t change its position. China won’t cave to US
Japan Jibun Bank/Markit preliminary PMIs for August Manufacturing 49.5 (prior 49.4) Services 53.4 (prior 51.2) Composite 51.7 (prior 51.8) From the report – upbeat comments on the whole: “Preliminary August PMI data give plenty of promise that the solid growth trend seen in the GDP outturns so far this year could indeed stretch into the
If a customer chooses a provider with vast experience and a wide clientele, he or she relies on its apparent advantages. A provider of financial services is no exception. To begin with, a company with international recognition cherishes its reputation. So, it will never downgrade the quality of its services and products. Could you imagine
Not clear where the tanker is headed A Gibraltar court released the Grace 1 tanker on Saturday and the ship is preparing for departure. The move came despite US objections and appeals. The US government issued a warrant to seize the ship, saying all oil aboard the ship is subject to forfeiture due to a
US futures pare all of its earlier gains before bouncing back a little now ForexLive I don’t think what China is talking about is anything new but perhaps it puts a dent in recent hope and optimism ahead of trade talks next month. That said, it is enough to temper with the calmer risk sentiment
Inflation data due from the US at 1230GMT. Headline CPI expected at 0.3% (prior 0.2%) CPI excluding food and energy expected 0.2%, prior 0.3% m/m 2.1% expected, 2.1% prior y/y Couple of quick previews.  Scotia: expected to reveal stable headline CPI at 1.7% y/y and unchanged core at 2.1% y/y The fact that core CPI
Kudlow on CNBC Trump would like to continue talks The President is determined to defend the American economy We’re in great shape, the Chinese are not I don’t understand why the Chinese can’t seem to stop the fentanyl If there’s no progress on the deal, the tariffs might get worse Consumer spending is booming The
Speak now or forever hold your peace If you have a great idea that you want to share with your fellow traders, now is the time to speak up. Failure to do so, may cause you lots of consternation or anxiety. You may lose sleep.  So let it all out. Clear your trading soul.  :
Highlights of the second quarter GDP report Q1 GDP was 3.1% q/q annualized Q4 was 2.2% (revised to 1.1%) GDP y/y +2.3% vs +2.7% prior 2018 GDP unrevised at +2.9% Details: Personal consumption 4.3% vs 4.0% exp (fastest since Q2 2017) Prior personal consumption +0.9% (revised to +1.1%) Consumer spending on durables +12.9% vs +0.3%
A look at the damage this year Coresight Research says US retailers have announced 7,062 store closures this year. That’s well above last year’s total tally of 5,524 and on track to break the record of 8,139 set in 2017. The bankruptcy of Payless Shoe Source is the responsible for 2,500 of the closures but