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Tesla To Build Largest Grid-Scale Battery In South Australia
Tesla has now been picked to develop the world’s largest grid-scale battery in South Australia. The region has faced blackouts since September 2016, resulting in a political tussle over energy policy. Tesla’s grid-scale battery will work with a wind farm provided by France’s Neoen and will help set a benchmark for large-scale renewable energy use. Blomst / Pixabay Grid-scale battery to address power crisis South Australia is the front-runner in adopting wind power. It even closed its coal-fired plants, which resulted in an outage across the eastern part of the nation and drove up energy prices. Despite heavy reliance on renewables, t... -
Finance 0
June Jobs Report: 222K New Jobs Added, Surprises Forecast
This morning’s employment report for June showed a 222K increase in total nonfarm payrolls, surprising forecasts. The unemployment rate ticked upward from 4.3% to 4.4%. The Investing.com consensus was for 179K new jobs and the unemployment rate to remain at 4.3%. April and May nonfarm payrolls were revised for a total gain of 47K. Here is an excerpt from the Employment Situation Summary released this morning by the Bureau of Labor Statistics: Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment increa... -
Finance 0
Gold Market In H1
A lot happened in the first half of the year. Among many important events, Trump was nominated as POTUS, the Fed hiked its interest rates twice and announced plan to unwind its massive balance sheet, and a few important elections were held in Europe, with Macron taking over French politics. How did gold perform in that interesting period? As one can see in the chart below, gold shined in the first half of 2017. The rally started at the end of December 2016, after the FOMC meeting at which interest rates were increased. Since then, the yellow metal gained about 10.6 percent (as of June 26, 2017). Chart 1: The price of gold in U.S. dollar... -
Finance 0
Oil Plunge Run
Rising yields and rising oil production is causing oil to plunge even as US oil stockpiles drawdown at a record rate. The rebound in US oil production of 88,000 barrels a day according to the weekly Energy Information Administration (EIA) and was the key data factor that is causing the selloff. The market believes that the 100,000 barrel drop in US oil production was just a storm-related fluke and that US oil production will continue to rise even as many producers at this price level will struggle financially. Forget about the 6.299 million barrels drop in crude supply and forget about the surge in gasoline demand because obviously, the marke... -
Finance 0
June Payrolls Rise 222K, Beat Expectations, But Hourly Earnings Disappoint
While today’s payrolls report will hardly have much of an impact on Fed policy as explained previously, moments ago the BLS reported that in June the US added 222K jobs (making a mockery of the ADP print again), beating expectations of 179K, with the May payrolls number revised from 138K to 152K and April revised from 174K to 207K, for a combined revision of the past two months of +47,000 more than previously reported. Meanwhile, the unemployment rate rose from 4.3% to 4.4%, and above the expectation of an unchanged print. However, the fly in the ointment is that despite the better than expected job growth, wage growth once again disapp... -
Finance 0
NFP: 222K Jobs But Wages Miss With 0.2% – USD Falls
The US economy gained no less than 222K jobs in June, better than expected. However, wages rise by only 0.2% and with a downwards revision. The US dollar initiall rose but is now falling. The US was expected to report a gain of around 180K jobs in June, with an unemployment rate of 4.3%. More importantly, wages carried expectations of 0.3% m/m after 0.2% last time. Y/y, wages rose by 2.5%, stuck. June 2017 NFP Data (updated) Non-Farm Payrolls:  TBA  (exp. +175K last 138K before revisions) Average Hourly Earnings TBA (exp. +0.3% m/m, 2.6% y/y, last month 0.2% m/m, 2.5% y/y) Revisions: TBA (-66K  last time). Participation Rate: TBA Â... -
Finance 0
Dull End To The Week; IDFC Bank Gains On Merger News
Indian share markets continued to trade rangebound in the afternoon session amid weak global markets. At the closing bell, the BSE Sensex stood lower by 9 points, while the NSE Nifty finished down by 9 points. Meanwhile, the S&P BSE Mid Cap finished flat & the S&P BSE Small Cap finished up by 0.3%. Gains were largely seen in realty stocks, pharma stocks, and energy stocks. While, software stocks and automobile stocks finished in red. Bharat Forge share price rose 0.8% after the company’s subsidiary signed pact with Israel’s Aerospace Industries to build new maintenance center in India for selected adva... -
Finance 0
Preview For June NFPs & Outlook For USD-pairs
Video length: 00:05:22 Â The key issue surrounding today’s June US Nonfarm Payrolls report is whether or not the US labor market is improving enough to reduce labor market slack and push up wage growth (which should help inflation), in order to justify the Federal Reserve hiking rates again before the end of of 2017. As it stands today, markets don’t think another hike is coming: Fed funds futures are pricing in March 2018 as the most likely period for the next move. Market participants will be paying attention to the wage component of the report in particular, which has been admittedly lacking gusto despite the unemployment rate... -
Finance 0
Rail Week Ending 01 July 2017: Total June Traffic Up 4.5%
Week 26 of 2017 shows same week total rail traffic (from same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors slowing continues. Analyst Opinion of the Rail Data We review this data set to understand the economy. If coal and grain are removed from the analysis, rail over the last 6 months been declining around 5% – but this week it declined 1.8 % (meaning that the predicitive economic elements declined year-over-year). Also consider total rail movements are below 2015 levels – even though they are above 2016 levels. This week the one year rol... -
Finance 0
Oil’s Woes Continue As Prices Abruptly Sink (Again)
In what is becoming a daily occurrence, crude took another dive earlier this morning as volume surged. This has been going on all week and has been variously attributed to technical selling around key levels and all sorts of other shit like that, but the bottom line is: there is a crisis of confidence in this market. If crude couldn’t sustain a bounce after the API/ EIA data, then you’ve got to wonder what’s going to be good enough. It’s also not exactly encouraging that the downdraft we’ve seen over the past couple of days comes on the heels of a really nice run, which was itself a move that came after crude plunged into a bear ma...
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