Author Archive: Jeremy Parkinson
OPEC Boosts Oil Demand Estimates, Admits Oil Prices Can’t Rise Above $55
In its latest OPEC Monthly Oil Market Report (October) the oil cartel has increased its oil demand estimates for 2017, 2018 on strengthening world economy, and weaker outlook for supplies from its rivals. Specifically, OPEC forecasts that based on the current global oil supply/demand balance, demand for OPEC crude in 2017 is estimated at 32.8 mb/d, around […]
GBP: The Case For A BoE November Hike Strengthening Further; Where To Target? – BTMU
The pound shot higher on expectations for a rate hike in November, and it is getting closer. Yet after hitting 1.36, GBP/USD slipped quite a bit. What is the trade? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the GBP has started the week on firmer footing reflecting both a reduction […]
Try To Get Off Oil
It’s hard to break those addictions. You see abnormally low oil prices are like crack to an economy. Economies start to get hooked on cheap oil and then want more. Then they get addicted to oil and then they continue to buy at any price because once they get hooked they can’t get enough. We […]
Where Next For The USD After The FOMC Minutes?
With the FOMC minutes due for release later today it’s time to focus once again on the USD index on the daily timeframe. And in the last few days it has been no surprise to see the dollar weakening technically, given the daily candle of October 6 which closed in classical fashion with a […]
Momentum Continues To Lead US Equity Factor Strategies
A bull market prevails across all the major US factor strategies led by momentum, based on one-year returns via a set of proxy ETFs. The iShares Edge MSCI USA Momentum Factor (MTUM) ticked up to a record high at yesterday’s close (Oct. 10). The upside bias for the fund has been unusually strong recently. The latest daily […]
Sensex Ends In Red On Post Noon Sell-off; Realty & Metal Stocks Drag
Indian share markets in India turned negative in the noon deals with the Nifty50 slipping below its crucial 10,050 mark. At the closing bell, the BSE Sensex closed lower by 90 points. While, the NSE Nifty finished lower by 32 points. Meanwhile, the S&P BSE Midcap Index finished down by 0.9% while the S&P BSE Small Cap Index ended down by 1.2%. BSE sector […]
WTI Crude Oil And Natural Gas Forecast – Wednesday, Oct. 11
WTI Crude Oil The WTI Crude Oil market rallied rather significantly during Tuesday’s trading session, breaking well above the $50 handle. However, we remain just below the $51 level, an area that I think will continue to be resistive. If we can break above there, then the market should go towards the $52.50 level. That’s […]
S&P Futures Flat, Spain Rebounds, Nikkei Closes At 21 Year High
S&P 500 futures point to a slightly lower open, as Asian stocks rise to trade near decade highs, with Japan’s Nikkei 225 closing at highest since 1996. European stocks are little changed, with Spanish shares gaining after Catalan President rows back from an immediate declaration of independence. MSCI’s all-world stocks index briefly hit a fresh […]
Equifax Confirms 15.2m Customers In Europe Were Hacked
Equifax’s European unit confirmed today that a file containing 15.2M United Kingdom records dating from between 2011 and 2016 was ‘illegally compromised.” The company said in a blog post, “Regrettably this file contained data relating to actual consumers as well as sizeable test datasets, duplicates and spurious fields. Equifax has brought every analytical tool, technique […]
Markets Looking For A New Focus
The US dollar is consolidating after retreating since reversing lower following the US jobs data at the end of last week. While the greenback has largely been confined to yesterday’s ranges against the major currencies, the euro has made a marginal new high, briefly trading through the $1.1830 area noted yesterday. Spanish assets are rallying following […]
