The U.S. government’s 2017 fiscal year officially ended on 30 September 2017. At that time, we knew that the total public debt outstanding of the U.S. government increased by $671.5 billion from the end of the previous fiscal year, rising from $19,573 billion (or $19.6 trillion) to $20,245 billion (or $20.2 trillion) during FY2017. But what we didn’t know…
Gold prices advanced for a fourth straight session on Wednesday and settled at $1349.16 an ounce. XAU/USD initially pulled back to the bottom of the 4-hourly Ichimoku cloud but bounce up quite nicely from there and climbed back above the $1348-$1347 area. World stock markets were mostly higher again yesterday. Asia-Pacific stocks continue to rise…
The Aussie started the year on a bullish note, gaining by almost 4% against the dollar. It then started falling after weak economic data from Australia dampened the prospects of future rate hikes this year. On the other hand, the dollar has been supported, albeit slightly, by the hopes and indications that the Fed will…
The data always matters. Two weeks ago, the markets were swayed by more talk of a trade war with China. I should clarify by saying that the stock market was shaken, since the Treasury bond market reaction was fairly tempered. By Tuesday, most of the losses were recouped, and stocks were higher on Wednesday and again on Thursday. More saber-rattling over…
Saxo Bank’s provides an ominous economic outlook in its second quarter report. What follows below are snips from a 35-page report by Saxo bank. I condensed the report for readability. Any emphasis in italics is mine. Until the final paragraph what follows are snips from various Saxo Bank analysts. Enjoy. End of a Cycle Like…
The Bank of Canada left rates unchanged and increased its estimate for the output gap. Nevertheless, the hawkish bias remains. What’s next? Here is their view, courtesy of eFXdata: CIBC Research discusses the reaction to today’s BoC policy meeting and notes that the BoC statement struck a fairly balanced tone today, which leaves CIBC comfortable with expecting…
We had yet another bullish day across the crypto market, with Bitcoin cash leading the top 20 cryptocurrencies with its 16% gain. From a technical point of view, it appears that BCH/USD may have bottomed out. Let’s take a closer look. Bitcoin Cash (BCH) Overview Bitcoin Cash remains the most popular Bitcoin fork. Since its…
Background China Sunsine Chemical Holdings Limited is the top manufacturer globally and in China of rubber accelerators and other specialty chemicals used in rubber production, mainly to improve car tire functionality. It has a 20% global market share and supplies 2/3 of the world’s top 75 tire makers from its five plants located in China….
Asian stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.4%, the Hang Seng is up 1.3%, while the Shanghai Composite is trading up by 0.9%. US stocks also closed their session with gains. Meanwhile, Indian share markets have opened the day marginally up. The BSE-Sensex is trading higher by 102 points (up 0.3%) and NSE-Nifty is…
Crude oil prices rose as Iraq delayed an auction of oil field development rights while officials from OPEC-led producers (notably including Russia) prepared for a meeting that may bring an extension of coordinated production cuts into 2019. EIA inventory flow statistics amplified gains, showing stockpiles shed 1.07 million barrels last week. Economists were expecting a shallow build…
