China’s Central Bank Cuts Rates
Overnight China’s Central Bank surprised markets with a 25 basis point rate cut for 1 year deposits as well as the 1 year lending rate cut of 40 basis points.
China
An Historic Day In China Equities Today
An historical day in China and Hong Kong as trading link program was initiated today between the two countries that allow investors to trade on both exchanges.
China’s Non-Performing Commercial Loans Jump
Over the weekend the China (FXI, quote) Banking Regulatory Commission released a report indicating that China’s non-performing loans for commercial banks in China increased by 1.16% for the month of September.
Even Oil Inventories Fail To Put The Brakes On
For oil traders and speculators hitting the sell button has become almost automatic, as the heavily bearish tone for the commodity shows no signs of abating just yet, with another solid move lower yesterday offering low risk trading opportunities once again.
China’s PMI – Lowest is 5 Months
HSBC China (FXI, quote) manufacturing purchasing managers’ index (PMI) post no surprises from its earlier flash report of 50.4 for the month of October, a slight improvement over September’s 50.2 results.
Is Oil Now Building a Platform of Support?
The last few days have been interesting ones for crude oil (USO, quote) traders, with the commodity mirroring the volatile price action and associated volume profiles of related markets, and suggesting in turn, that we may be approaching a pause, and possible bottom to the current bearish trend.
Let’s Hear It For The Oil Speculators!
Let me start this analysis for oil, by highlighting an issue which I always find deeply ironic which is this – when oil prices rise quickly, a hue and cry results with the ‘evil’ speculators blamed who quickly become public enemy number one.
Currency Futures Round Up After a Quiet Start
With many of the major trading centres closed yesterday for public holidays, and with little in the way of meaningful fundamental news to drive price action, trading volumes in currency futures remained thin, with the Aussie dollar, the British Pound, the Canadian dollar and the Euro, all consolidating further following the volatile price action of last week.
Bumper Crops Continue to Drive Soft Commodities Markets
It was another week of falling prices for soft commodities (DBA, quote) once more, as over supply issues continue to dominate across all the major markets, and clearly evident from the weekly charts. It is the US which sets the price for world markets as the largest exporter, with the US Midwest corn belt set to produce a record harvest for a second year.
Crude Oil Marks Time, Along With the US Dollar
September’s been an interesting month of price action for oil traders, as the WTI contract (USO, quote) continues to bounce around, driven back and forth by a variety of forces as it continues to consolidate in a narrow range.