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  • Article / Yesterday at 14:59 GMT

    FX Board: GBP sprinting as USD stalls

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Board: GBP sprinting as USD stalls
    Markets are eyeing the Federal Open Market Committee nervously as the USD remains poised close to support in several pairs. GBP is doing its own thing at the moment, as the bulls are off and running with EURGBP and GBPUSD testing important levels.
    Read the article
  • Calendar event / Yesterday at 14:30 GMT
    High Crude Oil Stocks, Net Chg (Bbl)
    0M
    -4.203M
    High Gasoline Stocks, Net Chg (Bbl)
    0M
    -0.363M
    High Distillate Stocks, Net Chg (Bbl)
    +1.3M
    +2.588M
    Med Crude Oil Stocks (Bbl)
    459.682M
    Med Gasoline Stocks (Bbl)
    215.922M
    Med Distillate Stocks (Bbl)
    144.103M
    Med Refinery Usage
    95.5%
    95.1%
    Med Total Prod Supplied (Bbl/day)
    20.246M
    Med Total Prod Supplied, Net Chg (Bbl/day)
    -0.775M
  • Squawk / Yesterday at 14:07 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    US pending home sales miss in June, decline 1.8%:

    Analysts had penciled in a modest increase of 0.9%, but instead pending sales of existing homes fell 1.8% m/m in June while May was revised a bit lower to 0.6%. Despite the monthly decline the annual change in pending home sales rose to 11.1% last month from a revised 7.9% in May.

    Pending home sales lead existing home sales by 1 to 2 months.

    Homebuilders (XHB) have outperformed the S&P 500 index so far this year.
    Read the Squawk
  • Editor’s Picks / Yesterday at 11:43 GMT

    Why gold is only going to get worse

    Bloomberg
    According to Bloomberg's Debarati Roy and Eddie Van Der Walt, the yellow metal has simple "lost its charisma". After sulking through a period of Greece- and China-related instability of the type that usually boosts gold prices, the metal slumped to new lows and it appears the bottom is not yet in. "Gold is out of fashion like flared trousers, no one wants it,” said Societe Generale SA analyst Robin Bhar, with Bloomberg adding that July is on track to post the largest monthly decline in gold prices in two years. One key factor in gold's current woes is the US Federal Reserve, which is widely forecasted to hike interest rates in September, boosting the USD at the yellow metal's expense. Gold is currently trading at $1,095/oz.
    Read article on Bloomberg
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  • Article / Yesterday at 11:30 GMT

    Russia battens down the hatches

    Russia oil and gas expert
    United Kingdom
    Russia battens down the hatches
    Russia's economy shrank 4.2% year-on-year in June, showing a deeper decline than earlier this year. The economy ministry does see some light in the headline stats, but its own analysis of economic trends poises some uneasy questions.
    Read the article
    12h
    Warren Buffet007 Warren Buffet007
    I don't know, but maybe Russia will keep the Ruble low to beneficiate the Export?.