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Sept 8, 2017 Copper getting hit

September 8th, 2017

In the first hour of the European Session we have our futures down .30% with Shanghai Futures having Copper sell off hard. The Trade data out of China came in tonight with Imports beating estimates. But, Exports missed…Hello, strong Yuan Guys. Mexico had a massive earthquake off shore, but it appears damage is limited. North Korea is talking about doing another missile this Saturday (celebration of the founding of North Korea) as Hurricane Irma heads to Florida. Eur/USD pushes up .24% to 1.2056 at the moment. DXY hitting 91, we are getting no love for our US Dollar.

Sept 2017

Sept 7th, 2017 Super Mario you are on.

September 7th, 2017

Well, if most of the Central Bankers seemed to call each up before they act, we would expect a less dovish Draghi today after seeing the BoC raise rates yesterday. EU has also been having some bte economic data lately, so maybe even plans for the tapering of bond buying will be put forth. FWIW, per bloomberg, The European Central Bank was presented with various scenarios for winding down asset purchases, according to people familiar with the matter yesterday. Shanghai futures including Copper were all down. China Govt is still supporting the Yuan getting it back up to 2015 levels vs the Dollar, this is really hurting exporters. The Chinese Govt released F/X Reserves tonight indicating that they were still building reserves just under estimates. Eur/USD is sitting at 1.1964 in the second hour of the europe session, .41% higher. US Futures are down .20%. All the news seem to be on Hurricane Irma and all the destruction she has done and might do. BUT IT COULD BE Hurricane Mario that might really do some damage if he is hawkish and the Swissy is sold against the euro. Swiss not needing to buy US Tech Companies to push down the CHF could mean a nice push to the downside.

Sept 2017

Sept 5, 2017 Copper hitting 3 year high and Bitcoin falling

September 5th, 2017

Copper has never came back from it’s 10,000 high in 2011 but it is back up to 6,900. The speculators are at work in the rally of course fueled by rumors of banning scrape imports next year and factory closings. Many point to the Chinese Congress in October to support the price. The UN Security Council met again after the latest action by North Korea, again just talk no action. China, as we talked about last week, has been focusing in on Cypto Currencies and today took action on banning it from fundraising. The US Congress heads back from Summer Holiday as Hurricane Irma builds up strength. September is historically a bad month for Equities, gold seems to really like it..all of us Bears hope this pattern comes about since no talk of QE is out there and only discussions of tapering and raising rates are on the horizon.

Sept 2017

Sept 1, 2017 Night of the Markit PMI’s around the world and it is positive

September 1st, 2017

Well tonight I am very surprised that China PMI came in at 51.6 vs 51.1 last month. South Korea remained just below the 50.0 no-change mark in August. Posting at 49.9, up from 49.1, the PMI signalled a fractional decline in business conditions for South Korean manufacturers. Vietnam ticked up to 51.8 in August from 51.7 in July. This signalled a further modest monthly improvement in the health of the sector. Russia actually did see a bit of a decrease but it is still above the key 50. Our Futures are up .10% leading into the European Open. Shanghai Futures are just slightly up over the news. Oil is down .74%. Of course NFP is coming this morning too, everyone is looking for 170K plus. YET, We have another Hurricane Coming next week possibly, Hurricane Irma, this should continue to hurt Oil because it will only delay the opening of the Refiners if it hits the gulf.

Sept 2017, Uncategorized