Author: Eamonn Sheridan

Kerr Neilson, chief executive officer and a portfolio manager at Platinum Asset Management

Yeah, you read me right. World's Best Trader.

He's bought into Italian headquartered global oil producer, Eni

  • "It is arguably more cheaply priced than its global peers on account of a horrid history of being the Italian national champ and dumping ground
  • Eni has continued to have spectacular discovery success with the most recent 'Zohr' field potentially holding over 30 trillion cubic feet of gas off the Mediterranean coast of Egypt"

More generally - Neilson says all the signs are there for a potentially "long bottoming process" for the price of oil and commodities generally

"The fierce sell-down of a broad range of commodities and markets in the fourth quarter of the year ensures that the loneliest shepherd in Tibet has probably realised there are a glut of supply and dull demand prospects: in other words, any surprises to the positive will probably support at least a bounce"

Via the Australian Financial Review

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Author: Eamonn Sheridan

Nikkei hits its lowest since October 2014

What comes after the opening of the Japanese stock markets? Fresh lows ... USD/JPY not wanting to miss out on any of that sweet slipping action:          

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Author: Eamonn Sheridan

Australia - HIA New Home Sales for December: +6.0% m/m (prior -2.7%)

HIA New Home Sales - Detached home sales up 2.2% - Multi unit sales +2.1% Chief economist at HIA, Harley Dale says "key leading indicators of new home building" consistent with very healthy national construction volumes persisting throughout the H1 of 2016

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Author: Eamonn Sheridan

Japan - PPI for January: -0.9 % m/m (expected -0.7%)

PPI from Japan -0.9 % m/m - expected -0.7%, prior was -0.3% -3.1 % y/y - expected -2.8%, prior -3.4% Domestic final goods prices down 0.4% y/y (these loosely track the consumer price index)

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Author: Eamonn Sheridan
6

Kuroda and Peter Pan. Wrong Peter, dude.

, the Peter most relevant to Kuroda is Laurence J. Peter, who came up with the concept of the "Peter Principle" Instead of Peter Pan In which "managers rise to the level of their incompetence".

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Author: Eamonn Sheridan
5

FT: 'Oil industry leaders move to quash talk of stronger prices'

I think the FT is just cut and pasting headlines now. Surely we've seen that one before? I don't know, for about the past 15 months or so, right? The International Energy Agency (IEA) ...  said the global oil surplus was bigger than previously estimated ... recent rebound in prices was probably "a false dawn"Vitol, the world's largest independent oil trader, said the demand "bump" from cheaper petrol prices would fade ... predicted crude oil stocks would pile up as consumption in China and commodity dependent economies slowed

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Author: Eamonn Sheridan

Australian Treasury Sec. Fraser: China is a risk to global economy

Comments from Australian Treasury Sec. Fraser: - China is a risk to global economy - Not a clear path for global economic growth - Says he has spoken with AB S, jobs data may be a little stronger than actual due to survey issues Betcha didn't know that, right?

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Author: Eamonn Sheridan
4

Markets yelling 'Pour some sugar on me!' Yellen will oblige.

Yellen appears before Congress on Wednesday & Thursday. the clowns The headline above is mine, analysis below by Citi: - Citi say Yellen will dump on calls for negative rates Net, Citi expect Yellen's comments to add support for the USD and calm some of the panic buying of US bonds

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Author: Eamonn Sheridan
2

AUD/USD & NZD/USD orders

I know I don't need to tap my monitor and ask 'Is this thing on?', cause the AUD has been swinging around But since I wrote last week that the thing was a buy on dips it seems to be at the same level each day I walk in. It dips, it comes back. I suppose I really should have added that's its a sell on rallies as well as a buy on dips, that would have covered it completely.

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Author: Greg Michalowski
1

Forexlive Americas FX news wrap: USDJPY falls below key support

Forex news for US trading on Feb 9, 2016: Yesterday the USDJPY fell below the 115.55 area but still managed to close above that key level.  Today, the pair moved to - and through - that   Early selling of stocks in the US kept the pressure on the pair, but stocks stabilized, moved from negative to positive, and that kept the USDJPY range bound for the rest of the trading day.  Going forward traders will want to see corrections remain below the 115.55-85 area.  This area includes a number of swing lows going back to early 2015.

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Author: Eamonn Sheridan
6

Hump day trade ideas thread

Hump day is Wednesday incaseyadontknow And - . good morning/evening/afternoon Singapore re opens today after the loooong weekend there. China, HK remain closed today. Japan, Australia, New Zealand all open.

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Author: Eamonn Sheridan

Westpac forecasting deflation for NZ in 2016

From Westpac economists in their Economic Overview (published once a quarter) for New Zealand - Say the CPI will be down 0.1% in both Q2 and Q3 - Inflation to bounce into the Reserve Bank of New Zealand's 1 -3% target band in 2017 They also suggest that low inflation expectations are a 'major worry' for the RBNZ

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Author: Greg Michalowski

US stocks end up-and-down session marginally lower

S&P falls -0.07%.  Nasdaq down -0.35%.  Dow down -0.08% or -12.67.  Was down -146 points at the low. The major US stock indices are ending the day marginally lower after an up and down session.

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Author: Adam Button
2

Anadarko cuts dividend to 5-cents from 27-cents

Oil and gas giant slashes dividend Shares react well to dividend cut, falling 3% but mostly rebounding. It's a signal that the market is less concerned about dividends and more about solvency in the energy sector. The cut is definitely a sting to investors but perhaps it shows that the company feels it can still be profitable and weather the storm -- at least with oil at $30.

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