Saturday, February 17, 2018
China vows to protect interests as US eyes trade sanctionsChina on Saturday warned it would take necessary measures to protect its interests if the US imposes tough trade sanctions against its steel and aluminium exports. The US Commerce Department on Friday recommended imposing heavy tariffs on China and other countries to counter a global glut in steel and aluminum, laying out an array of possible options in a report to President Donald Trump.
Canada to seek to join South America trade pactCanada will open trade talks next month with the four-nation Mercosur trading bloc in South America as part of an ongoing push to diversify its trade partnerships, a senior official said Friday. It comes as its main trading relationship with the United States -- the North American Free Trade Agreement (NAFTA) -- falters, and after Ottawa announced it would sign onto the Trans Pacific Partnership (TPP).
Friday, February 16, 2018
Saudi Arabia seeks to further reduce oil stockpilesSaudi Arabia said Wednesday it will further trim oil production and exports next month to reduce excess stockpiles that have weighed on crude prices, as concerns mount over US oversupply. Saudi Aramco's crude output in March will be 100,000 barrels per day (bpd) below its February level while exports will be kept below seven million bpd, the energy ministry said.
Japan economy grows for 8th straight quarter, longest since 1980sJapan's economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, its longest period of expansion since the "bubble" boom days of the late 1980s. Gross domestic product figures fell short of expectations and represented a slowdown from the previous quarter, but analysts forecast continued growth nonetheless.
Thursday, February 15, 2018
China warns Trump trade sanctions threaten global economyUS trade sanctions will hit the world economy, Beijing warned Wednesday, after President Donald Trump threatened to impose fresh tariffs on imports from China. Trump said he was "considering all options," including tariffs and quotas, after he accused China of decimating the American steel and aluminium industries.
Cory Booker just took another step toward a run for presidentWASHINGTON -- U.S. Sen. Cory Booker, criticized for campaign contributions from Wall Street and the drug industry, has sworn off corporate political action committee donations as he ponders whether to seek a run for the White House.
Europe’s investment in offshore wind is paying off — for the USFor years, a large-scale offshore wind industry in the US seemed like it was always somewhere off over the horizon. But with the price of offshore wind power dropping quickly in Europe and the UK, policymakers in the US are increasingly looking at it as a viable option to meet renewable energy goals.
Tuesday, February 13, 2018
As promised I was going to post something on the recent events and try and sell you all on the fact that this is merely a small blip in an otherwise downward trajectory. I have tried to illustrate with Emerging Markets ETF EEM and India ETF PIN that there is the beginnings of a downward channel showing. For those of you with an appetite for risk this could definitely be a profitable ascent (albeit volatile), but for others it may be an opportunity to choose our moment to perhaps enter fresh short positions. The resistance is pretty clearcut so "stops" can be triggered if the resistance is breached, but I'll be honest it doesn't feel like it despite the fact "buy" signals have appeared on the RSI(5).
White House releases budget, forecasts a decade of mounting debtWASHINGTON — The Trump administration proposed a spending plan on Monday that projects deficits as far as the eye can see, giving up the longtime Republican goal of a balanced budget to champion a spending plan replete with cash for a host of military programs and some domestic ones the president's supporters might admire.
Monday, February 12, 2018
Kenya's Flower Producers Eye US MarketKenya's cut-flower industry has blossomed since the 1980s, and now holds the biggest market share for exports to Europe. Kenya's flower producers are hoping direct flights set to open between Nairobi and New York City could help them put down roots in a new market — the United States.
I was looking at Crude Oil ETF USO and a small counter-trend rally seem to be afoot. This isn't just isolated to Crude Oil as a counter-trend rally is appearing across many ETF's (more on this tomorrow). When I mentioned Emerging Markets ETF EEM last week I was pondering whether this this was a three wave or five wave correction. If this is five wave correction we will see some volatility up to a line of resistance and then another fall. Another blogger made a very convincing argument that Crude could rally to $63.50 and I'd have to agree, but beware the approaching resistance lines.
Global markets seeing 'necessary corrections': IMF chief
The latest volatility in global financial markets represents "necessary corrections", IMF chief Christine Lagarde said in Dubai on Sunday, in the wake of a Wall Street plunge. "The market trepidations that we have seen in the last few days are not worrying me.