Author: Eamonn Sheridan

Jens Weidmann, president of the Bundesbank, speaking with Frankfurter Allgemeine Zeitung on Sunday

  • Italian bank Monte dei Paschi di Siena is I urgent need of a bailout; on Friday the ECB Monte dei Paschi's request for time to complete its 5 bn euro cash call for cash
  • This puts pressure on the Italian government to assist in place of the ECB 
Said Weidmann:
  • "The participation of the state alongside investors in a crisis solution can never be excluded"
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Author: Eamonn Sheridan

OIL - OPEC, non-OPEC deal signed - focus will now switch to compliance

OPEC and non-OPEC formally signed the output cut deal on Saturday - Nigeria and Libya exempt from the deal - Its expected Saudi Arabia will make the biggest production cuts The fun never stops with OPEC & other oil producers. for more, also 

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Author: Sam Eder

How the big players operate: Their psychology, motivation and objectives

For many traders the psychology of the big players is a mystery. So I have put together a video to shed some light on the matter. I also share some of the things I have learned from bank and hedge fund traders that are critical to consistent trading.   

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Author: Adam Button
5

Non-OPEC producers agree to lower output by 562,000 barrels

First OPEC and non-OPEC agreement since 2001 A group of 13 countries from outside OPEC agreed to cut output by 562,000 barrels per day. That's just shy of the rumoured 600K barrels from earlier on Saturday but still represents a major win for OPEC and oil bulls; at least if the promises are kept.

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Author: Greg Michalowski
2

Forexlive Americas forex news wrap. Record highs for stocks again

Forex news for North American trading on December 9, 2016 In other markets: - S&P index +13.34 points or 0.59% - NASDAQ composite index +27.14 points or 0.5% The news was fairly limited today but the University of Michigan consumer sentiment  was much stronger than expectations and 98.0 versus 94.5.  Current conditions increased to  112.1 versus 108.5 estimate.  Expectations  increased to 88.9  versus 87.0 estimate.  The increase goosed the dollar higher - sending the EURUSD to new session and week lows and the USDJPY ultimately to new week highs.  It also helped to turn bond yields back higher. AN exception was the USDCAD which was influenced by position squaring ahead of the non-OPEC meeting in Vienna.  Russia is expected to cut production by 300 bpd, Mexico was rumored to be mulling a 150K bpd cut.

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Author: Greg Michalowski
5

Surprise. Surprise. Stocks close at record highs

Dow closes in on 20K The US stock indexes all closed at record levels once again and enjoyed decent - and balanced - gains for the week. For the week, the indices were more balances this week, and the Nasdaq led (the Dow has been leading the charge of late).

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Author: Greg Michalowski
1

WTI crude oil futures settle at $51.50 per barrel

up $.66 or 1.3% The US WTI crude oil futures are settling at $51.50 per barrel that is 0.66 cents or a 1.3%.   Last Friday, the crude contract closed at $51.68.   The low traded to $49.61. The high extended to $52.42.  At the highs, the price was near topside trend line. That trend line currently comes in at $52.24. On the downside, the 50 day MA comes in at $48.89. The 100 day MA is at $47.86 and the 200 hour MA is at $47.60.  

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Author: Greg Michalowski

Another earthquake shakes the Solomon Islands

6.9 magnitude aftershock after yesterday's 8.0 quake The plates continue to shift in the Solomon Islands as a 6.9 magnitude quake shocks the Pacific islands. Yesterday, the islands were rocked with an 8.0 magnitude tremor.  

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Author: Greg Michalowski
5

A review of some of the favorite pairs.... in words ONLY

I can talk numbers though.... EURUSD: The EURUSD fell below the 1.0551 level (low from last weeks trading) after the much better than expected University of Michigan  sentiment index.  That move added to an already bearish momentum move lower that gathered momentum on the break of the 1.0600 level. The triple bottom (April 2015 and December 2015, and November 2016 lows at 1.0517-21) was approached but the low could only go to 1.0530 today before stalling.  We currently trade at 1.0546 - below close resistance at 1.0551 and above the 1.0517-21 key level below (PS the low for the year reached 1.0503 on Monday after the Italian referendum but quickly rebounded). 

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Author: Greg Michalowski

The Atlanta Fed GDPNow estimate for 4Q remains unchanged at 2.6%

Next release on Dec 14 As per their website: "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is  on December 9, unchanged from December 6. The forecast of the contribution of inventory investment to fourth-quarter growth decreased from 0.46 percentage points to 0.42 percentage points after this morning's wholesale trade report from the U.S. Census Bureau."

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Author: Ryan Littlestone
8

USDJPY is still seeking new highs

We're back on the up 115.35 is the new high of the day as USDJPY overcomes the earlier wobble. USDJPY 15m chart As is necessary nowadays, we have to keep one eye on Treasuries and yields in 10's are back up to their high's too.

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Author: Greg Michalowski
2

Gold tests 10 month lows as sellers remain in control.

Continues the post Election fall Gold has moved to new session lows at $1158.02. That is new 10 month lows for the precious metal. Gold traded as high as $1337 on election day.  Since that time it is down over 13%

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