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  • Editor’s Picks / 36 minutes ago

    No 'quick fix' for low oil prices: Opec

    MarketWatch
    Oil may have just completed its strongest three-day rally in a quarter of a century, but prices are still well off 2014 levels as a supply-driven rout continues to rage through markets. In a statement released yesterday, Opec said that low prices remain a concern for its members and there is "no quick fix" for the glut that has enveloped the oil market and driven prices lower. "Oil is losing the shale war" said analyst Richard Hastings of Global Hunter Securities; "without oil prices at exceptionally high prices, then [Opec members] are staring at big troubles". Brent crude is currently trading at $53.06/barrel.
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  • Editor’s Picks / 2 hours ago

    RBA keeps cash rate at 2%

    The Sydney Morning Herald
    The Reserve Bank of Australia on Tuesday left the cash rate at its record low 2% for the fourth month in a row. Mark Mulligan writes the board's decision was universally expected. The RBA last cut the cash rate in May, by a quarter of a percentage point, to 2%, after a similar cut in February.
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  • Article / 2 hours ago

    3 Numbers: EZ unemployment eases, US auto sales, US ISM manufacturing

    editor/analyst / CapitalSpectator.com
    United States
    3 Numbers: EZ unemployment eases, US auto sales, US ISM manufacturing
    A slight dip in the Eurozone jobless rate is expected: 11.0% for July after 11.1% in June. Meanwhile, US auto sales for August are expected to pull back slightly to 17.3 mln, but that’s still a relatively high number, and the US ISM manufacturing index is on track for a fractional rise, revealing a still-struggling sector.
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  • Editor’s Picks / 4 hours ago

    China's manufacturing sector losing steam, fast

    CNBC
    Activity in China's manufacturing sector slowed markedly in August, twin surveys showed on Tuesday, the latest sign that the world's second largest economy is fast losing momentum. The final Caixin/Markit manufacturing purchasing managers' index (PMI) slipped to 47.3 in August, the lowest reading since March 2009 and down from 47.8 in July. The reading, however, was a touch better than the flash reading of 47.1. A reading above 50 indicates an expansion in activity while one below points to a contraction.
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  • Editor’s Picks / 5 hours ago

    Oil's three big days wipe out a month of losses

    Bloomberg
    Opec signaled future cuts to production and the US lowered output estimates, putting oil back into a bull market less than a week after hitting a six-year low. Prices surged 8.8% in New York, capping the biggest three-day gain in 25 years. The Energy Information Administration changed the way it calculates how much oil comes out of the ground and 13.2 million barrels vanished with a government blog post. Opec, producer of about 40% of the world’s oil, renewed its commitment to talk to other exporters to achieve “fair and reasonable prices” and it says it won’t prop up oil prices by cutting supply unless non-member nations agree to share the burden. So is the glut over? Depends on who you ask.
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  • Calendar event / 6 hours ago

    AU Balance of Payments

    forecast
    actual
    Med Current Account-SA (AUD)
    -15.8B
    -19B
    Low Net Foreign Debt, Q/Q%
    -1%
    Low Net Exports-Expected % of GDP
    -0.6%