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  • Editor’s Picks / 2 hours ago

    Chinese gold demand vulnerable to yuan carry-trade reversal

    MarketWatch
    Investors have done well in the past with a simple strategy of buying what China was buying. So earlier this year, things were looking up for gold when it was revealed that China had swept past India to become the world’s biggest buyer in 2013. For the first time, Chinese demand topped 1,000 tonnes, reaching 1,176 tonnes after a 41% year-on-year gain, not including central-bank buying. But now, a succession of holes in the bullish China gold-demand story have appeared.
    Read article on MarketWatch Go to post
  • Squawk / Yesterday at 14:32 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude inventories rose more than expected partly due to the current release of oil from strategic reserves while gasoline inventories drops less than expected. Overall negative with RBOB Gasoline down 0.6% following the release.
    Read the Squawk
    17h
    Ole Hansen Ole Hansen
    Graphic overview attached. US Crude inventories jump to highest level since records began in 1982
  • Squawk / Yesterday at 14:32 GMT
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    Technical Analyst / FuturesTechs
    United Kingdom
    Watch 1865 in the S&P 500 (June '14) Futures. If we break this level we'd likely see a reaction back to 1850 then 1840. If it holds all's well in the Bull camp. it was Monday's day session high and yesterday's day session low, so a "pivotal" level (filled gap if you like).
    Read the Squawk
    15h
    fxtime fxtime
    Love those steidlmayer stylised 30min charts ......incredibly useful.
  • Squawk / Yesterday at 14:20 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    US inventory data due shortly at 16:30 CET. US Crude inventories are expected to rise for the 13th time in 14 weeks, this time by around 2.5 million barrels. Some focus on gasoline inventories after the price has risen to the highest since last August as refinery maintenance reduce supplies for a ninth straight week. The changing inventory levels between Cushing and PADD3 (Gulf of Mexico) could also trigger a reaction. Link to calendar: https://www.tradingfloor.com/posts/us-eia-weekly-petroleum-status-report-2361284
    Read the Squawk
  • Squawk / Yesterday at 14:05 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    New home sales plummets 14.5% month-on-month to 384,000 in March in the US, far from the consensus expectation of +2.3%. Furthermore the decline in new home sales in February was revised to 4.5% from 3.3%.

    Sales declined most in the Midwest to 51,000 from 65,000, a drop of 21.5% m/m, followed by the West and South. The Northeast recorded a minor increase to 27,000 from 24,000.

    While the report surprised consensus it would not come as a shock to those watching the housing starts series, which had been signalling a drop in sales (chart 1).
    Read the Squawk
  • 18h
    rhodium rhodium
    Yes Mr. Kim, exactly right. You & Mr. Ole Hansen posted today. I did post the same analysis 2 days back. :)