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  • Finance 0

    How America Could Save $65 Billion In Mobile Phone Bills

    It is a fact of nature that all countries have the same electromagnetic spectrum of radio frequencies. It is a fact of politics that countries have different rules for allocating these frequencies. And it is a fact of economics that people in different countries pay very different rates for their use of spectrum. Mara Faccio and Luigi Zingales ask: “Why does the price of the same basket of mobile phone services vary around the world from $10.07 to $47.25? Why does the price of a 1GB mobile-broadband internet plan vary from $11.24 to $100.28?” They investigate the question in a January 2017 working paper “Political Determina...
    On June 2, 2017 / By
  • Finance 0

    Crude Oil Prices Ignore Inventory Data As US Exports Hit Record

    A larger-than-expected drop in US inventories failed to make an impression on crude oil prices, as expected. Stockpiles shed 6.43 million barrels, a draw well in excess of the 3 million barrel outflow predicted by analysts. The outcome was well-telegraphed by previously released API data however, robbing the official EIA release of its market-moving potential. Rather, the markets focused on rising production in Libya and Nigeria – OPEC countries that are nonetheless exempt from its output cut scheme – as well as the US. Bloomberg reported that the cartel’s collective output jumped by 315k b/d last month while DOE figures showed US ex...
    On June 2, 2017 / By
  • Finance 0

    WalMart Shuns Drones, Unveils “Associate Delivery On Way Home From Work” Program

    While Amazon is testing drone delivery, ocean freight, (and teleportation devices, ok we made that up), WalMart has decided to take a different approach to fulfilling its online orders… employees will deliver packages on their way home from work! As AP reports, in its latest effort to compete with online giant Amazon, Walmart is testing a delivery service using its own store employees, who will deliver packages ordered online while driving home from their regular work shifts. The “associate delivery” program would use Walmart’s 4,700 U.S. stores and roughly 1.2 million employees to speed delivery and cut costs. The...
    On June 2, 2017 / By
  • Finance 0

    Weekly Commodities Wrap: China Downgrade Weighs On Metals

      Copper: China Downgrade Weighs On Red Metal, But Losses Recovered Mid-Week The red metal came under pressure initially this week, tracking movement in the broader commodities markets as traders reacted to Moody’s downgrading of China’s credit rating from A1 to Aa3. The downgrade, which marks the first lowering of China’s credit rating since 1989, was received sharply by commodities traders who began offloading the metal. The downgrade came as China’s debt to GDP topped 300%. With China being the world’s largest producer of Copper the news provoked fears of liquidity problems for producers, leading to the sell-off. Alongside this,...
    On June 2, 2017 / By
  • Finance 0

    Gold Retreats As U.S. Data Lifts Greenback

    Gold prices fell $3.41 an ounce on Thursday as better-than-expected U.S. economic data, which supported the case for a Federal Reserve interest rate hike this month, led to a bounce in the dollar. The market was not able to break through the resistance in the $1271.50-$1269 area, and ultimately extended its losses after prices pierced below a support in the $1265-$1263 region. The XAU/USD pair is currently trading at $1260.34, lower than the opening price of $1265.60. It appears that the market is going to test the support at the 1259 level where the top of the 4-hourly Ichimoku cloud and a short-term bullish trend coincide. The bears have to...
    On June 2, 2017 / By
  • Finance 0

    Has Permian Productivity Peaked?

    The U.S. shale industry might have just received a huge windfall with the nine-month extension of the OPEC cuts. Shale output was already expected to come roaring back this year, but the extension of the cuts provides even more room in the market for shale drillers to step into.  The sky is the limit, it seems. However, there are growing signs that the U.S. shale industry could be reaching the end of the low-hanging fruit. Or, more specifically, drilling costs are starting to rise and the enormous leaps in production that can be obtained by simply adding more rigs also appears to be running into some trouble.  According to the EIA’s ...
    On June 2, 2017 / By
  • Finance 0

    UK Construction PMI Beats With 56 – GBP Focused On The Elections

    Markit’s purchasing managers’ index for the construction sector was expected to show a small slide to 52.7 in May after 53.1 back in April. This is the second PMI after yesterday’s manufacturing one that came out at 56.7, within expectations. GBP/USD was trading around 1.2860 ahead of the publication. Resistance awaits at 1.29, followed by 1.2980 and 1.3050. Support is at 1.2775. The most important PMI is on Monday, for the services sector. However, the focus of markets is around the UK elections. Every poll counts. More: GBP: Into & Beyond The June-8 Elections – Credit Agricole  ...
    On June 2, 2017 / By
  • Finance 0

    Indian Indices Trade On A Positive Note; Telecom Stocks Witness Buying

    Stock markets in India have continued their momentum and are presently trading on a positive note. Sectoral indices are trading in the green with stocks in the telecom sector and healthcare sector witnessing maximum buying interest. The BSE Sensex is trading up 119 points (up 0.4%) and the NSE Nifty is trading up 32 points (up 0.3%). The BSE Mid Cap index is trading up by 0.6%, while the BSE Small Cap index is trading up by 0.4%. The rupee is trading at 64.42 to the US$. In other news, manufacturing activity grew at a slower pace in May compared to the previous month. This comes as the Nikkei India Manufacturing Purchasing Manage...
    On June 2, 2017 / By
  • Finance 0

    E USD/JPY Trading In A Temporary Wave 2

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    On June 2, 2017 / By
  • Finance 0

    E EURUSD Making A Reversal Lower

    So far so good, EURUSD moved straight down from 200% Fib. resistance level where pair found a top following a five wave move within wave five. As such, new and minimum three wave fall is here which can extend down to 1.0830 or even lower, if moved will be impulsive. EURUSD, 1H...
    On April 26, 2017 / By