Baker Hughes oil rigs for the week of August 31. Crude oil trading at $70.06 – Oil rigs 862 vs 862 estimate and prior 860 – Gas rigs 184 vs 182 last week – Total rigs 1048 vs 1044 last week Crude oil is trading at at $70.02 a few cents lower than the price…
Also the high from August 15 The USDMXN is moving higher and looks to test the August 15 swing high at 19.2949 and the 100 day MA at 19.3050. There may be an agreement with Mexico per se, but if a deal with Canada is not forthcoming, that could stall that deal as well in…
Lighthizer contructive There’s a lot of rhetoric about notifications and deals not getting done but no deadlines were broken here and the USTR gave notice to Congress about a deal. Trump’s letter is going to say it’s only US and Mexico but that’s just posturing, Congress can’t even consider it if it’s just the US and…
Commitment of traders report for the week ending Aug 28, 2018 No huge moves but the general theme is US dollar buying, once again. ForexLive
They’re still talking That’s a good sign. ForexLive
The 1994 movie starring Hugh Grant, “Four Weddings and a Funeral” was a big hit. In 2018 – and this weekend – we seem to be heading toward “Four Divorces and a Funeral” instead.
A snapshot of the % changes of the major currencies vs. each other It is getting to the end of the week and the snapshot of the strongest and weakest of the major currencies shows that the CHF is the strongest, while the AUD is the weakest.
WSJ report Talks break up with no agreement. This isn’t as bad as it sounds. The notification to Congress can’t be made on a two-party agreement. The authorization to Congress was for a three-party deal under fast track provisions so they will have to start from scratch if it’s Mexico only.
Trump on NAFTA – Canada has taken advantage of US for many years – I love Canada – They have tremendous trade barriers and tremendous tariffs – It’s unbelievable what’s happening with the fake news
Trump at a signing ceremony Trump this week said he was enacting emergency powers to freeze salaries of Federal workers next year, rather than a +2% pay increase that was expected. He pointed to the deficit.