Crude
USDCAD reaches 12 year high; but here comes the reversal
Submitted by zenkick2000 on 01/07/2016 12:46 -0500- Weakness in the Canadian Economy driving its currency lower
- Inverse relationship between commodity prices and USDCAD exchange rate
- Why there could be a reversal in trend
How did the Canadian currency reach a twelve year low?
The US Dollar reached a recent high against CAD at 1.41081 on January 6th a level not seen since August 2003. The general bull trend the green back has been in picked up momentum since talk begun by the Fed of a return to higher interest rates.
OPEC Basket Crude Price Crashes Below $30 - Lowest Since 2004
Submitted by Tyler Durden on 01/07/2016 12:45 -0500With WTI trading with a $32 handle, collapsing below December 2008's $32.40 lows briefly overnight, OPEC's broad basket price for crude has also reached a worrisome milestone. Amid Saudi price cuts to Europe, the basket price was set at $29.71 today - the first print below $30 since April 2004.
Saudi Devaluation Odds Highest In 20 Years, Kingdom Now More Likely To Default Than Portugal
Submitted by Tyler Durden on 01/07/2016 12:02 -0500Saudi Arabia, which entered 2015 with virtually no debt and an FX reserve war chest that amounted to around three quarters of a trillion dollars, is now viewed as less creditworthy than a country where a coalition of socialists, left-wingers, and communists just overthrew the government.
Denmark Hikes Rates As Draghi's "Hawkish" Ease Relieves Peg Pressure
Submitted by Tyler Durden on 01/07/2016 10:40 -0500When Mario Draghi “disappointed” markets in December by “only” cutting the depo rate by 10 bps and “merely” extending PSPP by six months while electing not to expand monthly asset purchases, the Riksbank, the Nationalbank, the Norges Bank, and the SNB all breathed heavy sighs of relief. And while we doubt the ECB is done when it comes to going "full-Krugman" (as it were), Mario Draghi’s “hawkish” ease did buy his counterparts some breathing room. Case in point: Denmark just hiked.
Frontrunning: January 7
Submitted by Tyler Durden on 01/07/2016 07:40 -0500- China turmoil sends oil, stocks sliding (Reuters)
- China's Stock Traders Go Home After 29 Minutes (BBG)
- Yuan hits weakest since Feb 2011 on fresh low midpoint (Reuters)
- Stocks Extend Rout, Oil Slides on China as Soros Warns of Crisis (BBG)
- China's 29 Minutes of Chaos: Stunned Brokers and a Race to Sell (BBG)
- North Korea Uses Bomb Test to Boost Dictatorship (WSJ)
Global Stocks Crash After Spiraling Chinese Devaluation Unleashes Worldwide Chaos And Selling
Submitted by Tyler Durden on 01/07/2016 07:34 -0500- Apple
- Australia
- B+
- Bank of America
- Bank of America
- Bitcoin
- Bond
- Brazil
- China
- Circuit Breakers
- Consumer Confidence
- Continuing Claims
- Copper
- CPI
- Crude
- Crude Oil
- Equity Markets
- fixed
- France
- George Soros
- Germany
- headlines
- High Yield
- Hong Kong
- Initial Jobless Claims
- Italy
- Japan
- KIM
- Kyle Bass
- Kyle Bass
- Market Conditions
- Middle East
- Monetary Policy
- Natural Gas
- Netherlands
- Nikkei
- None
- North Korea
- Oklahoma
- OPEC
- RANSquawk
- San Francisco Fed
- Saudi Arabia
- Shenzhen
- Standard Chartered
- Trade Balance
- Trade Deficit
- Unemployment
- Volatility
- Wells Fargo
- World Bank
- Yen
- Yuan
Once China set the Yuan fixing some 0.5% lower, the biggest drop since the August devaluation, all hell broke loose and unleashed a global selling panic after China's stock market was promptly shut down less than 30 minutes into trading, then European shares dropped the most in more than 4 months as Asian equities plunges, as did US stock futures, the dollar weakened against the euro and the yen; crude plunged to fresh 12 year lows. Gold rose.
Here We Go Again: China Halts Trading For The Entire Day After Another 7% Crash
Submitted by Tyler Durden on 01/06/2016 23:55 -0500Enough Already! It's Time To Send The Despicable House Of Saud To The Dustbin Of History
Submitted by Tyler Durden on 01/06/2016 21:15 -0500For more than four decades Washington’s middle eastern policy has been dead wrong and increasingly counter-productive and destructive. Washington’s Mideast policy is predicated on the assumption that the answer to high oil prices and energy security is deployment of the Fifth Fleet to the Persian Gulf. And that an associated alliance with one of the most corrupt, despotic, avaricious and benighted tyrannies in the modern world is the lynch pin to regional stability and US national security. Nothing could be further from the truth. The House of Saud is a scourge on mankind that would have been eliminated decades ago, save for Imperial Washington’s deplorable coddling and massive transfer of arms and political support.
Stocks Plunge To 3-Month Lows Amid Crude Carnage, Chinese Currency Collapse
Submitted by Tyler Durden on 01/06/2016 17:04 -0500With Stocks in Freefall, Nasdaq Breaks...
Submitted by Tyler Durden on 01/06/2016 15:01 -0500They tried to slam VIX (and failed). JPY was sold (but failed). And Crude was temporarily ramped (but failed). So how do you stall a sell-off - BREAK THE MARKET AGAIN!!
"Pray For Us": Libya Issues "Cry For Help" As ISIS Advances On Oil Fields
Submitted by Tyler Durden on 01/06/2016 14:36 -0500
Stocks Stable Post-Fed Despite VIX Flash-Crash
Submitted by Tyler Durden on 01/06/2016 14:21 -0500If history is any guide - the mysterious flash crash "signal" that we have seen yet again in VIX suggests stocks rally and VIX tumbles into the close today...
Fed Lack Of Confidence Sends WTI Crude To $33 Handle Even As Dollar Dumps
Submitted by Tyler Durden on 01/06/2016 14:12 -0500
Just Out From Evercore ISI: "Sell All Rallies Down To 1900"
Submitted by Tyler Durden on 01/06/2016 13:57 -0500"With the macro backdrop more vulnerable today than at any time since the financial crisis, and the S&P 500 and NASDAQ still near all-time highs, we anticipate a downside move to 1900 on the S&P within the first two months of the year. We reiterate our view that Crude and Energy remain structurally broken and possess significant downside from current levels which will only agitate and exacerbate the ongoing collaps."





