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  • Squawk / Yesterday at 12:37 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    US durable goods orders rebound 3.4% in June:

    Orders for durable goods, including aircrafts and vehicles, rose 3.4% m/m last month to more than offset the 2.1% drop in May (revised from -1.8%). The consensus expectation of 3.2% was not far off the mark.
    If you exclude the volatile transportation sector then orders rose a more modest 0.8% vs. 0.5% expected. However, May was revised lower to -0.1% from +0.5%.

    Capital goods orders, which serves as a proxy for future investment, rose 0.9%, nearly double the 0.5% expected, but again the revision was negative (to -0.4% from +0.4%). Capital goods shipments, a proxy for present investment, dropped 0.1% vs. +0.6% expected while May was revised down to -0.3% from +0.3%.

    Overall a much more mixed report than the headline reading of 3.4% suggests. EURUSD has not moved much on the release.
    Read the Squawk
  • Article / Yesterday at 9:15 GMT

    Rouble heading towards crisis again

    Russia oil and gas expert
    United Kingdom
    Rouble heading towards crisis again
    History does not repeat itself exactly, but the increase in short rouble positions seen in mid-July is eerily similar to what happened in mid-October last year. At that time, the rouble tumbled within weeks and it might well do so again.
    Read the article
  • 12h
    Martin O'Rourke Martin O'Rourke
    Both Brent and WTI continue to drift ever downwards. Brent is at $53.60/barrel at 1231 GMT. WTI is at $47.50/b.
    12h
    Martin O'Rourke Martin O'Rourke
    It's a similar story for gold which is firmly in the doldrums at $1,089.74 at 1236 GMT.
    12h
    Martin O'Rourke Martin O'Rourke
    WTI has since slipped to $47.33/b, down a further 17 cents at 1250 GMT.
  • 16h
    Ricky2154857 Ricky2154857
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  • Editor’s Picks / Yesterday at 6:33 GMT

    Battered gold price should tumble by another 30%

    The Australian Financial Review
    Gold may need to fall 30% to reach fair value, says Deutsche Bank, with cheap oil the only potential lifeline for the battered precious metal. Gold is trading just above last week's fresh five-year low of $1,072.30/oz. Deutsche argues the price of the precious metal needs to drop sharply. "Gold would need to fall towards $750/oz to bring prices in real terms back towards long-run historical averages," says Deutsche. The Deutsche "gold price model", which factors in world growth, the US dollar, money supply and central bank gold purchases, calculated fair value at $785/oz. But the long-run average price in real terms – using the CPI – was just $770/oz.
    Read article on The Australian Financial Review
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    18h
    rhodium rhodium
    Seems 850-885 $ by end of 2015...=
    16h
    Ricky2154857 Ricky2154857
    This comment has been redacted
  • Article / Yesterday at 5:09 GMT

    3 Numbers: Robust German business mood, EU money supply, US durables

    editor/analyst / CapitalSpectator.com
    United States
    3 Numbers: Robust German business mood, EU money supply, US durables
    There are encouraging signs that the Eurozone rebound will survive the turmoil in Greece. Even a dip in July German business sentiment for July is likely to be dismissed as temporary. Meanwhile, today's figures will show if the Eurozone money supply is still growing strongly, and a 3% rise is expected for July's US Manufacturing PMI for durable goods.
    Read the article
    16h
    Ricky2154857 Ricky2154857
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  • Editor’s Picks / Yesterday at 4:52 GMT

    China must act fast to fix demographic time bomb

    South China Morning Post
    The baby boom expected for China with the 2013 easing of the one-child policy has not happened. Couples allowed to have two children have decided not to, putting finances, lifestyle and careers first. The low birth rate and ageing issue mean that population control measures should be scrapped. The one-child policy has meant a rapid ageing of society, a shrinking workforce, growing numbers of elderly and a vast gender imbalance. The worse the demographics get, the more the economy will suffer through low productivity, a decline in consumerism and the need for more government funding for pensions and health care.
    Read article on South China Morning Post
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    16h
    Ricky2154857 Ricky2154857
    This comment has been redacted