Comex Market

21May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Demand for gold fell on Friday, amid a strengthening U.S. dollar. Comex gold futures for June delivery were down 0.08% to $1,288.40 a troy ounce as of 10:13 AM ET (14:13 GMT). The price of bouillon was driven lower by the rise in the greenback and increase in bond yields. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at a five-month high of 93.69.
  • WTI crude oil prices settled lower on Friday, but notched their third straight week of gains as falling production in Venezuela and pending U.S. sanctions on Iran helped offset signs of an expansion in U.S. output. On the New York Mercantile Exchange crude futures for June delivery fell 21 cents to settle at $71.28 a barrel, while on London’s Intercontinental Exchange, Brent fell 74 cents to trade at $78.56 a barrel.
  • Natural gas markets rallied a bit during the day on Friday, reaching towards the $2.86 level before rolling over again. Natural gas markets continue to be very noisy, as we have a lot of questions out there as to whether the rally can continue due to the longer-term oversupply issues. The market continues to see this up-trending channel hold the markets intact, so it’s not a surprise it we can break out on a Friday.

ECONOMY NEWS

  • China’s economy will likely expand around 6.7 percent in the second quarter this year, the State Information Center (SIC) said in an article published in the state-owned China Securities Journal on Saturday. The forecast growth rate was slightly slower than an actual 6.8 percent expansion in the first quarter. The SIC is an official think tank affiliated with the National Development and Reform Commission, the country’s top economic planning agency.
  • China’s push to open up its financial sector to foreign banks and financial institutions will be based on the principle of reciprocity and will not reward protectionism by other countries, an official said on Saturday. Chen Wenhui, the vicechairman of the China Banking and Insurance Regulatory Commission (CBIRC), told a forum that China aimed to accelerate the process of opening up, but countries afraid of exposing their own financial sectors to competition would not benefit.
  • Australian Prime Minister Malcolm Turnbull will travel to China later this year to smooth over bumpy diplomatic ties that have now developed into trade problems for some of Australia’s biggest wine and beverage exporters, Fairfax Media reported. Relations between the two trade partners have cooled significantly in recent months, after Turnbull’s conservative coalition government proposed a bill to limit foreign influence in Australia, including political donations, but which Beijing has interpreted as “anti-China”.

Comex Gold Signal

16May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

16may1

                                                                                Comex Gold Signal

Comex Gold Signal

Comex Gold signal

INTERNATIONAL COMEX NEWS

  • Gold prices fell below the $1,300 level on Tuesday, hitting the lowest levels since December as the U.S. dollar and Treasury yields moved higher after slightly stronger than expected U.S. retail sales figures. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $23.80 or 1.81% to $1,294.40 a troy ounce by 09:26 AM ET (13:26 GMT), a level not seen since late December.
  • Natural gas futures rose to its best level in around there months on Tuesday, as updated forecasting models pointed to above-average temperatures covering most of the country through the end of May. That should help boost early summer cooling demand for the fuel. Front-month U.S. natural gas futures tacked on 0.9 cents, or around 0.3%, to $2.849 per million British thermal units (btu) by 8:20AM ET (1220GMT), after hitting an intraday high of $2.856, the strongest since February 5.
  • Oil prices hit fresh three-and-a-half-year highs on Tuesday, as looming U.S. sanctions against Iran raised fears that markets will face shortages later this year when trade restrictions come into effect. Brent crude futures, the benchmark for oil prices outside the U.S., rose to a session peak of $79.22 a barrel at one point, a level not seen since November 2014. It was last at $79.00 by 8:05AM ET (1205GMT), up 80 cents, or about 1%. Meanwhile, New York-traded WTI crude futures were up 51 cents, or 0.7%, to $71.48 a barrel, not far off their Nov.

ECONOMY NEWS

  • U.S. inflation is rising toward the Federal Reserve’s 2 percent goal while not accelerating enough to suggest the economy is overheating, Dallas Federal Reserve President Robert Kaplan said on Tuesday. Inflation is approaching two percent but it’s “not running away from us,” he said at an event titled “Energy, Trade, and Energy Growth” sponsored by the Council for Foreign Relations.
  • Mexico’s economy minister said on Tuesday that he saw diminishing chances for a new North American Free Trade Agreement ahead of a May 17 deadline to present a deal that could be signed by the current U.S. Congress. U.S. House Speaker Paul Ryan has said that the Republican-controlled Congress would need to be notified of a new NAFTA deal by Thursday to give lawmakers a chance of approving it before a newly elected Congress takes over in January.
  • The European Union is interested in improving its trade ties with the United States but it will not make concessions to secure an exemption from U.S. metals tariffs and would need to consult its 28 members, a senior EU official said on Tuesday. “We are open for improving our trade relations… but it’s not a concession in order to get a permanent exemption from higher steel and aluminium tariffs,” Commission Vice-President Jyrki Katainen told a news conference.

Comex Gold Signal

 

14May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

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                                                                                      Comex Gold Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices were roughly unchanged on Friday but looked set to post a first weekly gain in four weeks as dollar weakness continued following a recent bout of softer inflation data. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $0.80 or 0.06%, to $1,321.40 a troy ounce. Weaker inflation data seen earlier this week continued to drive direction, prompting traders to scale back their expectations for a faster pace of Federal Reserve rate hikes, pressuring both the 10-yield treasury and the dollar, underpinning gold prices.
  • Crude oil prices settled lower on Friday but posted a weekly gain as sentiment remained positive despite signs of an increase in U.S. production as rig counts jumped for the sixth week in a row. On the New York Mercantile Exchange crude futures for June delivery fell 66 cents to settle at $70.70 a barrel, while on London’s Intercontinental Exchange, Brent fell 0.54% to trade at $77.05 a barrel.
  • More destructive lava flows could soon hit Hawaii’s Big Island as the Kilauea volcano erupts, posing a greater threat than oozing magma that has so far destroyed dozens of homes and forced thousands to evacuate, scientists said on Friday. As a lava lake at Kilauea’s summit drains inside the volcano, magma is running underground. It could burst to the surface as large, fast-moving and intensely hot lava flows and produce higher levels of toxic gases, Hawaiian Volcano Observatory scientist-in-charge Tina Neal said.

ECONOMY NEWS

  • Ousted Malaysian Prime Minister Najib Razak said on Saturday that he and his family would respect an immigration department ban on his travel abroad and stay in the country. Najib said earlier on his Facebook (NASDAQ:FB) that he and his family were taking a holiday overseas from Saturday and would return next week. But, moments later, the immigration department said on its official Facebook page that Najib and his wife, Rosmah Mansor, were blacklisted from leaving Malaysia.
  • Malaysian authorities barred ousted Prime Minister Najib Razak and his wife from leaving the country on Saturday, amid reports that the government was reopening investigations into a multi-billion-dollar graft scandal at a state fund he founded. The order by immigration authorities came minutes after Najib said in a Facebook (NASDAQ:FB) post that he and his wife, Rosmah Mansor, were taking a week-long holiday overseas to rest after his thumping defeat in Wednesday’s general election.
  • The new U.S. ambassador to Germany said the row over Washington’s planned imposition of punitive tariffs on European goods would not trigger a trade war, adding that President Donald Trump only wanted “a level playing field”. In an interview with the Funke newspaper group, Richard Grenell insisted that the United States was awaiting proposals on how punitive tariffs could be averted.

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8May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

8may1

                                                                                  Comex Gold Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices gained on Monday as the dollar slid against the other major currencies in Asia, but remained at its 4-month highs of above the 92 level. The U.S. and China issued a long list of demands for each other in Beijing on Friday, as the two nations attempted to resolve the trade dispute between them. China requested the 25% extra tariffs lifted, while the U.S. expressed concerns over intellectual properties, according to reports.
  • Natural gas futures started the week in positive territory on Monday, as updated forecasting models pointed to aboveaverage temperatures covering most of the country over the next two weeks. That should help boost early summer cooling demand for the fuel. Front-month U.S. natural gas futures jumped 5.4 cents, or around 2%, to $2.765 per million British thermal units (btu) by 9:15AM ET (1315GMT).
  • China’s main ports will step up quarantine checks on imports of apples and logs from the United States, and shipments found carrying disease or rot could be returned or destroyed, the Chinese customs agency said on Monday. Reuters reported last week that the main Chinese ports of entry have ramped up checks on fresh fruit imports from the United States, which could delay shipments from U.S. growers already dealing with higher tariffs as China-U.S. trade ties sour.

ECONOMY NEWS

  • China’s commerce ministry said on Monday U.S. unilateralism and protectionism may lead to an escalation of global trade friction and could derail the pace of global economic recovery. China does not deliberately pursue a trade surplus, the Ministry of Commerce said in a report that summarizes China’s past foreign trade situations, while calling for joint efforts between the United States and China to resolve trade disputes.
  • Emergency authorities battling lava flows and gas erupting from Hawaii’s Kilauea volcano warned some residents to “go now” as a new fissure opened and more structures were destroyed. Kilauea has destroyed 26 homes and forced 1,700 people to leave their residences since it erupted on Thursday, spewing lava and toxic gas from volcanic vents in a small area of Hawaii’s Big Island.
  • Afghanistan’s poverty rate has worsened sharply over the past five years as the economy has stalled and the Taliban insurgency has spread, with more than half the population living on less than a dollar a day, a survey published on Monday showed. The Afghanistan Living Conditions Survey (ALCS), a joint study by the European Union and Afghanistan’s Central Statistics Organisation, showed the national poverty rate rising to 55 percent in 2016-17 from 38 percent in 2011-12.

8may4

 

15Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

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                                                                                Comex Gold Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices held steady near one-week highs on Wednesday, after the release of mixed U.S. economic reports and as investors remained cautious after thesudden firing of U.S. Secretary of State Rex Tillerson. Comex gold futures were little changed at $1,323.3 a troy ounce by 08:45 a.m. ET (12:45 GMT). The U.S. Commerce Department reported on Wednesday that retail sales fell 0.1% in February, compared to expectations for a 0.3% rise.
  • After a brief initial reaction to the downside, West Texas Intermediate oil managed to rebound and head higher in North American trade on Wednesday, after data showing that oil supplies in the U.S. registered a larger-than-expected inventory build, while gas and distillate stockpiles both fell more than forecast. Crude oil for April delivery on the New York Mercantile Exchange fell 13 cents, or 0.43%, to trade at $60.97 a barrel by 10:34AM ET (14:34GMT) compared to $60.89 ahead of the report.
  • U.S. energy pipeline developers say they intend to pursue exemptions to the Trump Administration’s proposed steel tariffs, as concerns grow for those companies and from key exporters to the United States like South Korea. “We have a number of pipeline projects that would be impacted significantly by this cost increase,” said Adam Bedard, chief executive of Arb Midstream, an energy transportation and marketing company.

ECONOMY NEWS

  • The Indian central bank’s move to cut off a key form of trade finance in the aftermath of a multi-billion dollar fraud could both dent the rupee and sharply raise costs for many importers, bankers and traders said. The Reserve Bank of India announced late on Tuesday it was banning banks from issuing letters of undertaking, or LoUs, a form of credit guarantee often used between Indian banks and their offshore branches.
  • From BZW to BarCap, Barclays (L:BARC) bosses have spent more than three decades trying to make the British bank a profitable investment banking force, often frustrating its investors. Now Barclays Chief Executive Jes Staley is being given one more year to deliver on a promise to turn its investment bank into a profit engine able to weather downturns or face demands for a review of the business, shareholders told Reuters.
  • The European Union will try to secure an exemption from planned U.S. steel and aluminum tariffs, German Chancellor Angela Merkel said on Wednesday, adding that protectionism is not the right approach to international trade. Merkel, sworn in for a fourth term in office earlier on Wednesday, said she saw a “crisis of multilateralism” which the EU could best respond to by firstly putting on a united front, and secondly by talking to the United States.

15march4

 

 

7Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

7march

                                                                       Comex Gold Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices extended gains on Tuesday, as the U.S. dollar pushed lower amid growing uncertainty over potential U.S. tariffs on steel and aluminum imports. Comex gold futures were up 0.81% at $1,333.6 a troy ounce by 08:30 a.m. ET (12:30 GMT). Investors remained cautious as U.S. President Donald Trump faced growing pressure to pull back from proposed steel and aluminium tariffs.
  • Crude oil prices rebounded on Tuesday, supported by news global oil demand should outpace production and as traders awaited this week’s U.S. supply data. The U.S. West Texas Intermediate crude April contract was up 20 cents or about 0.30% at $62.76 a barrel by 10:00 a.m. ET , the highest since February 28. Elsewhere, Brent oil for May delivery on the ICE Futures Exchange in London gained 25 cents or about 0.40% to $65.80 a barrel, also the highest since February 28.
  • Natural gas futures climbed to their highest level in around four weeks on Tuesday, boosted by forecasts for a bump in late-winter heating demand. Front-month U.S. natural gas futures tacked on 2.4 cents, or around 0.9%, to $2.728 per million British thermal units (btu) by 8:20AM ET (1320GMT). It rose to its best level since Feb. 7 at $2.735 earlier in the session. The commodity notched a small gain of around 0.3% on Monday, as updated weather forecasting models showed colder weather lingering over the eastern U.S. through mid-March.

ECONOMY NEWS

  • The Russian central bank will spend 56.9 billion rubles ($1 billion) on boosting financial strength of B&N Bank, a troubled lender it had to rescue last year, the central bank said on Tuesday. Banks’ financial health is on the radar as the central bank proceeds with its clean-up program. The central bank took over three major private lenders, Otkritie, B&N Bank and Promsvyazbank (PSB), in the space of a few months in 2017.
  • Hundreds of taxi drivers marched in central Athens on Tuesday to protest at what they called an “invasion” by Uber, and attacked passing cars they thought were being used by the ride-hailing service. The drivers say the services are taking their business. They have also accused the Greek government of holding up legislation to regulate booking apps such as Uber and the locally-developed app Beat. “We will not co-exist with them,” said Yorgos Souitsmes, one of the protesting drivers. “It’s a multinational that wants to steal the bread of Greeks
  • Mexico’s Economy Minister Ildefonso Guajardo on Tuesday ruled out talk of a bilateral trade treaty with the United States, saying the North American Free Trade Agreement, which is currently being renegotiated, must remain a threecountry accord. Guajardo also said in a local TV interview that if the U.S. government were to push ahead with metals tariffs that included Mexico, the country would be forced to respond with politically targeted tit-for-tat responses.

7march4

 

6Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

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                                                                                  Comex Gold Signal

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6march3

INTERNATIONAL COMEX NEWS

  • Gold prices held steady near recent highs on Monday, as fears of a potential trade war and political uncertainty in Europe continued to support demand for safe-haven assets. Comex gold futures were little changed at $1,324.1 a troy ounce by 08:25 a.m. ET (12:25 GMT), the highest since February 27.
  • U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world’s top oil importer, closer to self sufficiency, the International Energy Agency said on Monday. A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output to reduce global oversupply materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.
  • Japan’s aluminum industry wants the United States to scrap plans to impose tariffs on the metal since it would hurt business and raise volatility in the metal markets, causing increased uncertainty for future trade. U.S. President Donald Trump said last week that he would impose a 25 percent tariff on imported steel and a 10 percent levy on imported aluminum to protect U.S. producers, risking retaliation from major trade partners like China, Europe and neighboring Canada.

ECONOMY NEWS

  • The Swiss government has amended its mandate for negotiating a new treaty with European Union authorities to explore having an arbitration panel settle some disputes over single market rules, it said on Monday. Brussels has put pressure on non-EU member Switzerland to sign a treaty that would see it adopt EU laws governing the single market as the price of enhanced access. At present a network of 120 bilateral accords governs economic ties.
  • U.S. President Donald Trump on Monday appeared to suggest that Canada and Mexico could win exemptions to his planned sweeping tariffs on steel and aluminum if the two countries sign a new NAFTA trade deal and take other steps. He made the comments as the United States, Canada and Mexico were wrapping up their latest round of talks on revamping the 1994 NAFTA deal, and as world shares dipped again, partly on concerns that Trump’s tariff plan could spark a global trade war.
  • Ministers from the United States, Canada and Mexico meet on Monday to wrap up the latest round of NAFTA talks under the shadow of U.S. President Donald Trump’s proposed steep tariffs on steel and aluminum imports. Trump is expected to finalize the tariffs – 25 percent on steel and 10 percent on aluminum – later in the week, posing a tough challenge for U.S. Trade Representative Robert Lighthizer, Canada’s Foreign Minister Chrystia Freeland and Mexican Economy Minister Ildefonso Guajardo.

6march4

 

28Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices moved lower on Tuesday, as comments by Federal Reserve Chairman Jerome Powell pushed the U.S. dollar higher despite the release of downbeat data on U.S. durable goods orders. Comex gold futures were down 0.13% at $1,331.9 a troy ounce by 08:35 a.m. ET (12:35 GMT). The greenback was boosted after Fed Chair Jerome Powell reiterated on Tuesday that the U.S. central bank would likely move forward with gradual increases in interest rates.
  • Crude oil prices slipped lower on Tuesday, ahead of this week’s U.S. supply reports but the commodity remained within close distance of recent mutli-week highs amid sustained optimism over the rebalancing of the market. The U.S. West Texas Intermediate crude April contract was down 18 cents or about 0.28% at $63.73 a barrel by 10:00 a.m. ET (14:00 GMT), just off Monday’s more three-week highs of $64.22.
  • Natural gas futures edged lower on Tuesday, retreating from the prior session’s two-week high amid speculation the end of the winter heating season will bring warmer temperatures throughout the U.S. and cut into demand for the fuel. Front-month U.S. natural gas futures shed 1.5 cents, or around 0.6%, to $2.671 per million British thermal units (btu) by 9:35AM ET (1435GMT). It rose to $2.723 in the last session, its best level since Feb. 9.

ECONOMY NEWS

  • Treasury 10-year yields at 3 percent may fail to entice Japanese investors unless the dollar starts to become more resilient, according to Sumitomo Mitsui Trust Asset Management Co. “Japanese investors were buying Treasuries when a rise in yields was pushing up the dollar, but that correlation started to break down in December,” said Hideaki Kuriki, Tokyo-based chief fund manager at the company that oversees the equivalent of $89 billion. Their appetite for U.S. bonds has now been limited, and local investors have been unwinding their positions as the dollar-yen’s outlook starts to deteriorate, he said.
  • Federal Reserve Chairman Jerome Powell, pledging to “strike a balance” between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.
  • The Bank of Canada is on course to raise interest rates twice more this year as it aims to strike a balance between a stronger economy and a number of economic risks, including trade negotiations and new housing regulations, a Reuters poll found. The central bank has raised interest rates three times since last July, amid a robust job market and solid economic growth, but policymakers have said repeatedly they will be cautious in considering further hikes.

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23Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

23feb

                                                                        Comex  Gold  Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices remained at one-and-a-half week lows on Thursday, as the release of upbeat U.S. jobless claims data was expected to add further strength to the dollar after the minutes of the Federal Reserve’s latest policy minutes pointed to the need for further interest rate hikes. Comex gold futures were down 0.47% at $1,325.8 a troy ounce by 08:35 a.m. ET (12:35 GMT), the lowest since February 14.
  • Natural gas futures were lower on Thursday, maintaining losses despite data showing that domestic supplies in storage fell more than forecast last week. Front-month U.S. natural gas futures shed 2.1 cents, or around 0.8%, to $2.638 per million British thermal units (btu) by 10:45AM ET (1545GMT). Futures were at $2.649 prior to the release of the supply data.
  • Record high stocks of copper in land-locked Arizona and Utah are a reflection of soaring transport costs in the United States and weak demand for the industrial metal produced in the Americas, copper industry sources say. Trading sources added that stocks in these two locations are likely to keep rising until prices are high enough to offset costs of transporting the copper. Copper stocks held in warehouses registered with COMEX (O:CME) in the United States stand at 228,428 tonnes, up from below 90,000 tonnes at the start of 2017.

ECONOMY NEWS

  • Russian opposition leader Alexei Navalny was briefly detained by police on Thursday and accused of organizing illegal protests, weeks ahead of a presidential election in which he has been barred from running. A 41-year-old anticorruption campaigner, Navalny was repeatedly jailed last year for organizing some of Russia’s biggest protests, targeting what he says are the luxury lifestyles of President Vladimir Putin and his inner circle.
  • South African bonds stayed in demand on Thursday as markets priced in expectations that government efforts to reduce the country’s large debt pile will enable it hang on to its last investment grade rating in a Moody’s review due soon. In a budget announced on Wednesday, Africa’s most industrialized economy took the politically risky step of raising value added tax, a move likely to prove less popular with voters than with foreign investors.
  • A proposal by a center-right coalition, leading polls ahead of a March 4 election, to issue small-denomination sovereign bonds would damage public accounts and curb economic growth, Economy Minister Pier Carlo Padoan said on Thursday. The center-right alliance dominated by former prime minister Silvio Berlusconi’s Forza Italia and the eurosceptic League is proposing the bonds as a way to pay people and firms owed money by the state.
21Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

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                                                                                Gold Signal 

21feb3

INTERNATIONAL COMEX NEWS

  • Gold prices remained under pressure on Tuesday, as U.S. dollar strength and lower demand for safe-haven assets continued to weigh on the precious metal. Comex gold futures were down 1.08% at $1,341.6 a troy ounce by 08:00 a.m. ET (12:00 GMT), the lowest since February 14. The greenback remained supported against other major currencies despite U.S. deficit worries. The U.S. deficit is projected projected to climb near $1 trillion in 2019 following the recent announcement of infrastructure spending and large corporate tax cuts.
  • Crude oil prices were mixed on Tuesday, as reduced supplies from Canada boosted demand for U.S. oil futures, while the Brent contract remained lower although optimism over the rebalancing of the market persisted. The U.S. West Texas Intermediate crude April contract was little changed at $61.55 a barrel by 10:00 a.m. ET (14:00 GMT), just off a two-week high of $62.64 hit overnight
  • Natural gas futures were higher on Tuesday, moving further away from their lowest levels in almost two years set last week, as updated weather forecasting models showed a return to colder weather over the eastern U.S. during the first week of March. Front-month U.S. natural gas futures climbed 7.0 cents, or around 2.8%, to $2.628 per million British thermal units (btu) by 8:20AM ET (1320GMT).

ECONOMY NEWS

  • South Africa’s new President Cyril Ramaphosa must quickly show international investors his government can implement reforms to take advantage of a weak dollar and growth in China, according to Citi’s head of emerging markets. The crucial period starts with Wednesday’s annual budget and runs until elections, due next year, Citi’s David Lubin told Reuters.
  • The normalization of monetary policy in the euro zone must go hand in hand with economic recovery, Spanish Economy Minister and soon-to-be European Central Bank Vice President Luis de Guindos said on Tuesday. De Guindos was chosen to take over from Portugal’s Vitor Constancio as the ECB’s second in command in June by euro zone finance ministers on Monday.
  • Investors should brace for a possible replay of the 1987 stock market crash later this year, given this month’s slump came against the backdrop of Federal Reserve interest rate hikes and rising inflation, Scott Minerd, Global Chief Investment Officer at Guggenheim Partners, said on Tuesday. “Eventually the Fed will acknowledge that three rate hikes will not be enough, but it is going to raise rates four times in 2018, and market speculation will increase that there may be a need for five or six rate hikes. That will be the straw that breaks the camel’s back,” Minerd said in a note to clients.

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