BEIJING (Reuters) - China wants to resolve problems with the United States through talks but it must respect China’s choice of development path and interests, President Xi Jinping said on Thursday ahead of a meeting with the U.S. leader in Argentina.China and the United States have put tariffs on hundreds of billions of dollars of each other’s goods and U.S. President Donald Trump has...Read More
China's hot-rolled coil prices tumbled to nearly a seven-month low on Thursday November 8, with participants remaining bearish about the market despite declining inventory levels.DomesticEastern China (Shanghai): 3,920-3,940 yuan ($566-569) per tonne, down 70-80 yuan per tonneNorthern China (Tianjin): 3,940-3,950 yuan per tonne, down 50 yuan per tonneHRC inventory levels nationwide fell by 166,300...Read More
DUBLIN (Reuters) - European Central Bank President Mario Draghi downplayed a recent string is weak economic data, arguing on Thursday that the euro zone’s broad-based expansion is set to continue.“While some sector-specific data and selected survey results have been somewhat weaker than expected, the latest incoming information overall suggests that the broad-based expansion in the eur...Read More
China's ferrous futures fell during morning trading on Thursday November 8 after prices in most of physical markets weakened a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,913 yuan ($565) per tonne, down 38 yuan per tonne January hot-rolled coil: 3,657 yuan per tonne, down 41 yuan per tonne Dalian Commodity Exchange January iron ore: 512 yuan per...Read More
NEW YORK (Reuters) - The U.S. dollar pulled out of its post-election slump, rising modestly on Thursday morning ahead of a Federal Reserve policy meeting at which it is widely expected to hold interest rates steady.Against a basket of six rival currencies, the dollar index was up 0.15 percent from late Wednesday .DXY. The index had fallen in the wake of the U.S. midterm elections, which split powe...Read More
While US rebar prices remain stable, rising raw material costs and a tightening supply outlook in the colder months could provoke a price increase before the end of the year, according to market participants.Fastmarkets AMM's price assessment for domestic rebar held at $35-36 per hundredweight ($700-720 per short ton) fob Midwest mill on Wednesday November 7, unchanged since mid-April. Meanwh...Read More
Steel billet import prices in Egypt increased in the week to Thursday November 8, but demand for rebar was still weak in the country.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $480-490 per tonne cfr on Thursday, compared with $477-480 per tonne cfr last week.Billet producers in the Commonwealth of Independent States (CIS) increased their prices because of the hig...Read More
CloseGain/LossGold $1223.90-$2.40Silver$14.43-$0.13XAU65.39-0.30%HUI145.76-0.07%GDM536.92-0.35%JSE Gold1121.61+7.77USD96.68+0.56Euro113.61-0.81Yen87.97+0.70Oil$60.67-$1.0010-Year3.240%+0.018T-Bond137.25-0.125Dow26191.22+0.04%Nasdaq7530.88-0.53%S&P2806.83-0.25% The Metals: Gold dropped $6.10 to $1220.20 at about 8:45AM EST before it popped up to $1226.90 shortly after the...Read More
By RambusTonight I would like to update some of the charts we've been following for some of the SPX that had a wild October to say the least. For whatever reasons October has a lot of volatility which can lead to some important lows and in a few cases a crash which is rare. This past October shaped up similar to many of the previous Octobers we've seen since the bull market began in 2009.This we...Read More
As part of Merk's in-house research we regularly evaluate a consistent set of charts covering the economy, equities, fixed income, commodities and currencies. The aim is to keep our eyes open and to look through the noise of the headlines, avoiding the distractions of sensationalized click-bait. In sharing this content, we offer a cross-check to your own thinking and aim to add value to your own...Read More
US mid-term elections are behind us. Surprisingly, both parties won! How is it possible? Let's read our article and find out! We will also explain what the election results imply for the world and the gold market. Democrats Win The elections were very interesting. We provide you with the key takeaways, focusing on the possible implications for the precious metals. First, Democrats took control...Read More
In today's update we look at yet another 'Punch and Judy' American election farce which once again ignored the 'Elephant in the room' - the inevitable U.S. $121.7 trillion debt crisis and the coming global $250 trillion debt crisis.We briefly look at the outcome of the elections, how markets have reacted in the short term and more importantly the long term outlook for markets and the dollarWe ex...Read More
(Reuters) - U.S. President Donald Trump’s decision on Wednesday to oust Attorney General Jeff Sessions and replace him with a noted critic of Special Counsel Robert Mueller raised immediate fears among Democrats about the future of Mueller’s investigation of Russian interference in the 2016 election.Trump appointed Matthew Whitaker, formerly Sessions’ chief of staff, as acting at...Read More
LONDON (Reuters) - Oil edged lower on Thursday, surrendering early gains, as investors focused on the pace of growth in global crude supply, which is increasing more quickly than many had expected.Chinese data earlier in the day that showed record oil imports in October offered some temporary respite to bearishness that has developed in the past couple of weeks over the expected crude market balan...Read More
Turkish domestic long steel prices have continued to soften because of the strengthening of the country's lira against the US dollar over the past week, sources said on Thursday November 8.Fastmarkets' weekly price assessment for domestic rebar on Thursday was TRY3,200-3,350 ($596-624) per tonne ex-works including 18% VAT, down from last week's TRY3,300-3,450 per tonne.The domestic rebar price in...Read More
WASHINGTON, Nov 8 (Reuters) - New applications for U.S. unemployment fell slightly last week and the number of Americans receiving benefits remained at a 45-year low as strong labor market conditions continued.Initial claims for state unemployment benefits dropped by 1,000 to a seasonally adjusted 214,000 for the week ended Nov. 3, the Labor Department said on Thursday. Data for the prior week was...Read More
Turkish steel producers continued to book deep-sea scrap for December deliveries with slightly lower prices on Thursday November 8.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $338 per tonne, 5,000 tonnes of shredded at $343 per tonne and 2,000 tonnes of bonus at $348 per tonne cfr, late on November 7.On Thursday, another...Read More
TOPICS IN THIS INTERVIEW:01:15 Crushed pensions and crushed millennials06:35 Working with Donald Trump, is the media accurate?10:30 Fake economy, fake wealth and fake assets14:15 The liability of overpriced real estate16:15 What happens when Mommy & Daddy lose their job and pension?17:35 Can being a millionaire make you happy?Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1...Read More
Watch as David Morgan shares his strategy for finding the next major investment opportunity.David Morgan is a world-renown precious metals aficionado. He is the creator of TheMorganReport.com, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynamic, much-in-demand speaker all over...Read More