VOTING POWER0.00%
DOWNVOTE POWER0.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS34.21%
Net Worth
0.237USD
STEEM
2.629STEEM
SBD
0.192SBD
Own SP
0.000SP
Detailed Balance
| STEEM | ||
| balance | 0.007STEEM | STEEM |
| market_balance | 0.000STEEM | STEEM |
| savings_balance | 0.000STEEM | STEEM |
| reward_steem_balance | 2.622STEEM | STEEM |
| STEEM POWER | ||
| Own SP | 0.000SP | SP |
| Delegated Out | 0.000SP | SP |
| Delegation In | 0.000SP | SP |
| Effective Power | 0.000SP | SP |
| Reward SP (pending) | 3.505SP | SP |
| SBD | ||
| sbd_balance | 0.000SBD | SBD |
| sbd_conversions | 0.000SBD | SBD |
| sbd_market_balance | 0.000SBD | SBD |
| savings_sbd_balance | 0.000SBD | SBD |
| reward_sbd_balance | 0.192SBD | SBD |
{
"balance": "0.007 STEEM",
"savings_balance": "0.000 STEEM",
"reward_steem_balance": "2.622 STEEM",
"vesting_shares": "0.000000 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "0.000000 VESTS",
"sbd_balance": "0.000 SBD",
"savings_sbd_balance": "0.000 SBD",
"reward_sbd_balance": "0.192 SBD",
"conversions": []
}Account Info
| name | petrovanalytics |
| id | 1354274 |
| rank | 1,856,790 |
| reputation | 50661161652 |
| created | 2020-01-08T13:09:21 |
| recovery_account | olegvladim |
| proxy | None |
| post_count | 595 |
| comment_count | 0 |
| lifetime_vote_count | 0 |
| witnesses_voted_for | 0 |
| last_post | 2020-03-20T20:54:03 |
| last_root_post | 2020-03-20T20:54:03 |
| last_vote_time | 1970-01-01T00:00:00 |
| proxied_vsf_votes | 0, 0, 0, 0 |
| can_vote | 1 |
| voting_power | 0 |
| delayed_votes | 0 |
| balance | 0.007 STEEM |
| savings_balance | 0.000 STEEM |
| sbd_balance | 0.000 SBD |
| savings_sbd_balance | 0.000 SBD |
| vesting_shares | 0.000000 VESTS |
| delegated_vesting_shares | 0.000000 VESTS |
| received_vesting_shares | 0.000000 VESTS |
| reward_vesting_balance | 6878.100572 VESTS |
| vesting_balance | 0.000 STEEM |
| vesting_withdraw_rate | 0.000000 VESTS |
| next_vesting_withdrawal | 1969-12-31T23:59:59 |
| withdrawn | 0 |
| to_withdraw | 0 |
| withdraw_routes | 0 |
| savings_withdraw_requests | 0 |
| last_account_recovery | 1970-01-01T00:00:00 |
| reset_account | null |
| last_owner_update | 1970-01-01T00:00:00 |
| last_account_update | 1970-01-01T00:00:00 |
| mined | No |
| sbd_seconds | 0 |
| sbd_last_interest_payment | 1970-01-01T00:00:00 |
| savings_sbd_last_interest_payment | 1970-01-01T00:00:00 |
{
"id": 1354274,
"name": "petrovanalytics",
"owner": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM6w4nZrNPDHphm1wVMtqYtJBQc7SoFBvBQm7VEyC7a2AF3tpAFh",
1
]
]
},
"active": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM54XYpR7oWUjbvmxzQPrFvkRmJiJfnKKdv6TkqPJokdcP2tnLe9",
1
]
]
},
"posting": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM5paDgaU4MPUD1tRdAVygqMfNu6GsDWo8aEWdeXCKDRjeZUYqaE",
1
]
]
},
"memo_key": "STM67t9gR2ULyQcAnuP9kqop91zKjioBQZTr5YvPgoaN6qDqkKqNg",
"json_metadata": "{}",
"posting_json_metadata": "",
"proxy": "",
"last_owner_update": "1970-01-01T00:00:00",
"last_account_update": "1970-01-01T00:00:00",
"created": "2020-01-08T13:09:21",
"mined": false,
"recovery_account": "olegvladim",
"last_account_recovery": "1970-01-01T00:00:00",
"reset_account": "null",
"comment_count": 0,
"lifetime_vote_count": 0,
"post_count": 595,
"can_vote": true,
"voting_manabar": {
"current_mana": 0,
"last_update_time": 1588056240
},
"downvote_manabar": {
"current_mana": 0,
"last_update_time": 1588056240
},
"voting_power": 0,
"balance": "0.007 STEEM",
"savings_balance": "0.000 STEEM",
"sbd_balance": "0.000 SBD",
"sbd_seconds": "0",
"sbd_seconds_last_update": "1970-01-01T00:00:00",
"sbd_last_interest_payment": "1970-01-01T00:00:00",
"savings_sbd_balance": "0.000 SBD",
"savings_sbd_seconds": "0",
"savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
"savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
"savings_withdraw_requests": 0,
"reward_sbd_balance": "0.192 SBD",
"reward_steem_balance": "2.622 STEEM",
"reward_vesting_balance": "6878.100572 VESTS",
"reward_vesting_steem": "3.505 STEEM",
"vesting_shares": "0.000000 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "0.000000 VESTS",
"vesting_withdraw_rate": "0.000000 VESTS",
"next_vesting_withdrawal": "1969-12-31T23:59:59",
"withdrawn": 0,
"to_withdraw": 0,
"withdraw_routes": 0,
"curation_rewards": 0,
"posting_rewards": 7002,
"proxied_vsf_votes": [
0,
0,
0,
0
],
"witnesses_voted_for": 0,
"last_post": "2020-03-20T20:54:03",
"last_root_post": "2020-03-20T20:54:03",
"last_vote_time": "1970-01-01T00:00:00",
"post_bandwidth": 0,
"pending_claimed_accounts": 0,
"vesting_balance": "0.000 STEEM",
"reputation": "50661161652",
"transfer_history": [],
"market_history": [],
"post_history": [],
"vote_history": [],
"other_history": [],
"witness_votes": [],
"tags_usage": [],
"guest_bloggers": [],
"rank": 1856790
}Withdraw Routes
| Incoming | Outgoing |
|---|---|
Empty | Empty |
{
"incoming": [],
"outgoing": []
}From Date
To Date
blurtofficialsent 0.001 STEEM to @petrovanalytics- "CONGRATS! You have a 1:1 BLURT AIRDROP of 7.199 BLURT and 0.000000 BLURT POWER waiting for you. Check out https://blurtwallet.com/@petrovanalytics and https://blurt.blog/ TODAY!"2020/12/17 20:22:36
blurtofficialsent 0.001 STEEM to @petrovanalytics- "CONGRATS! You have a 1:1 BLURT AIRDROP of 7.199 BLURT and 0.000000 BLURT POWER waiting for you. Check out https://blurtwallet.com/@petrovanalytics and https://blurt.blog/ TODAY!"
2020/12/17 20:22:36
| from | blurtofficial |
| to | petrovanalytics |
| amount | 0.001 STEEM |
| memo | CONGRATS! You have a 1:1 BLURT AIRDROP of 7.199 BLURT and 0.000000 BLURT POWER waiting for you. Check out https://blurtwallet.com/@petrovanalytics and https://blurt.blog/ TODAY! |
| Transaction Info | Block #49535790/Trx acb66a8b51aac2af3f7a1916018aa1c1ea9f8091 |
View Raw JSON Data
{
"trx_id": "acb66a8b51aac2af3f7a1916018aa1c1ea9f8091",
"block": 49535790,
"trx_in_block": 2,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-12-17T20:22:36",
"op": [
"transfer",
{
"from": "blurtofficial",
"to": "petrovanalytics",
"amount": "0.001 STEEM",
"memo": "CONGRATS! You have a 1:1 BLURT AIRDROP of 7.199 BLURT and 0.000000 BLURT POWER waiting for you. Check out https://blurtwallet.com/@petrovanalytics and https://blurt.blog/ TODAY!"
}
]
}crypto.piotrsent 0.002 STEEM to @petrovanalytics- "Dear @petrovanalytics, I hope you don't mind this little memo. I would like to introduce you to new "LEARN AND EARN" initiative which I came up together with @hardaeborla. Check out my latest post and..."2020/05/14 17:43:57
crypto.piotrsent 0.002 STEEM to @petrovanalytics- "Dear @petrovanalytics, I hope you don't mind this little memo. I would like to introduce you to new "LEARN AND EARN" initiative which I came up together with @hardaeborla. Check out my latest post and..."
2020/05/14 17:43:57
| from | crypto.piotr |
| to | petrovanalytics |
| amount | 0.002 STEEM |
| memo | Dear @petrovanalytics, I hope you don't mind this little memo. I would like to introduce you to new "LEARN AND EARN" initiative which I came up together with @hardaeborla. Check out my latest post and hopefully you will enjoy our new idea. Obviously I would appreciate every resteem and your feedback. I read all comments. Yours, Piotr // LINK: https://steemit.com/hive-175254/@crypto.piotr/learn-and-earn-our-project-hope-new-awesome-initiative |
| Transaction Info | Block #43371837/Trx 783cd3c7401cbf1b0002ca089f0bab12a0dbd0c1 |
View Raw JSON Data
{
"trx_id": "783cd3c7401cbf1b0002ca089f0bab12a0dbd0c1",
"block": 43371837,
"trx_in_block": 9,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-05-14T17:43:57",
"op": [
"transfer",
{
"from": "crypto.piotr",
"to": "petrovanalytics",
"amount": "0.002 STEEM",
"memo": "Dear @petrovanalytics, I hope you don't mind this little memo. I would like to introduce you to new \"LEARN AND EARN\" initiative which I came up together with @hardaeborla. Check out my latest post and hopefully you will enjoy our new idea. Obviously I would appreciate every resteem and your feedback. I read all comments. Yours, Piotr // LINK: https://steemit.com/hive-175254/@crypto.piotr/learn-and-earn-our-project-hope-new-awesome-initiative"
}
]
}yakovinvestdelegated 0.000 SP to @petrovanalytics2020/04/28 06:44:00
yakovinvestdelegated 0.000 SP to @petrovanalytics
2020/04/28 06:44:00
| delegator | yakovinvest |
| delegatee | petrovanalytics |
| vesting shares | 0.000000 VESTS |
| Transaction Info | Block #42909154/Trx 7ab1dda122ba796b3a9fef01421a57023a532894 |
View Raw JSON Data
{
"trx_id": "7ab1dda122ba796b3a9fef01421a57023a532894",
"block": 42909154,
"trx_in_block": 7,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-04-28T06:44:00",
"op": [
"delegate_vesting_shares",
{
"delegator": "yakovinvest",
"delegatee": "petrovanalytics",
"vesting_shares": "0.000000 VESTS"
}
]
}petrovanalyticsreceived 0.051 STEEM, 0.061 SP author reward for @petrovanalytics / news-moo1kpexuq-bj5bmkttavg2020/03/25 09:18:03
petrovanalyticsreceived 0.051 STEEM, 0.061 SP author reward for @petrovanalytics / news-moo1kpexuq-bj5bmkttavg
2020/03/25 09:18:03
| author | petrovanalytics |
| permlink | news-moo1kpexuq-bj5bmkttavg |
| sbd payout | 0.000 SBD |
| steem payout | 0.051 STEEM |
| vesting payout | 99.859147 VESTS |
| Transaction Info | Block #41954901/Virtual Operation #3 |
View Raw JSON Data
{
"trx_id": "0000000000000000000000000000000000000000",
"block": 41954901,
"trx_in_block": 4294967295,
"op_in_trx": 0,
"virtual_op": 3,
"timestamp": "2020-03-25T09:18:03",
"op": [
"author_reward",
{
"author": "petrovanalytics",
"permlink": "news-moo1kpexuq-bj5bmkttavg",
"sbd_payout": "0.000 SBD",
"steem_payout": "0.051 STEEM",
"vesting_payout": "99.859147 VESTS"
}
]
}petrovanalyticsreceived 0.138 STEEM, 0.166 SP author reward for @petrovanalytics / news-2ez683zrr7y-54ydvmk6clc2020/03/24 07:36:03
petrovanalyticsreceived 0.138 STEEM, 0.166 SP author reward for @petrovanalytics / news-2ez683zrr7y-54ydvmk6clc
2020/03/24 07:36:03
| author | petrovanalytics |
| permlink | news-2ez683zrr7y-54ydvmk6clc |
| sbd payout | 0.000 SBD |
| steem payout | 0.138 STEEM |
| vesting payout | 270.221428 VESTS |
| Transaction Info | Block #41924458/Virtual Operation #9 |
View Raw JSON Data
{
"trx_id": "0000000000000000000000000000000000000000",
"block": 41924458,
"trx_in_block": 4294967295,
"op_in_trx": 0,
"virtual_op": 9,
"timestamp": "2020-03-24T07:36:03",
"op": [
"author_reward",
{
"author": "petrovanalytics",
"permlink": "news-2ez683zrr7y-54ydvmk6clc",
"sbd_payout": "0.000 SBD",
"steem_payout": "0.138 STEEM",
"vesting_payout": "270.221428 VESTS"
}
]
}sharesupvoted (5.00%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r2020/03/20 22:03:57
sharesupvoted (5.00%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r
2020/03/20 22:03:57
| voter | shares |
| author | petrovanalytics |
| permlink | news-g6zsgt710e-rqdndh1wu0r |
| weight | 500 (5.00%) |
| Transaction Info | Block #41827977/Trx d601b2a60bafd1c8a69682fb8b0a5d91da3100e2 |
View Raw JSON Data
{
"trx_id": "d601b2a60bafd1c8a69682fb8b0a5d91da3100e2",
"block": 41827977,
"trx_in_block": 26,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-03-20T22:03:57",
"op": [
"vote",
{
"voter": "shares",
"author": "petrovanalytics",
"permlink": "news-g6zsgt710e-rqdndh1wu0r",
"weight": 500
}
]
}yeheyupvoted (10.00%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r2020/03/20 22:03:54
yeheyupvoted (10.00%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r
2020/03/20 22:03:54
| voter | yehey |
| author | petrovanalytics |
| permlink | news-g6zsgt710e-rqdndh1wu0r |
| weight | 1000 (10.00%) |
| Transaction Info | Block #41827976/Trx 9decb2b4294a1323384c07d24b92f9b50464d165 |
View Raw JSON Data
{
"trx_id": "9decb2b4294a1323384c07d24b92f9b50464d165",
"block": 41827976,
"trx_in_block": 1,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-03-20T22:03:54",
"op": [
"vote",
{
"voter": "yehey",
"author": "petrovanalytics",
"permlink": "news-g6zsgt710e-rqdndh1wu0r",
"weight": 1000
}
]
}filipinoupvoted (10.00%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r2020/03/20 21:31:42
filipinoupvoted (10.00%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r
2020/03/20 21:31:42
| voter | filipino |
| author | petrovanalytics |
| permlink | news-g6zsgt710e-rqdndh1wu0r |
| weight | 1000 (10.00%) |
| Transaction Info | Block #41827346/Trx 5bc0623830baf779912642e88654f87e5d4f63c9 |
View Raw JSON Data
{
"trx_id": "5bc0623830baf779912642e88654f87e5d4f63c9",
"block": 41827346,
"trx_in_block": 27,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-03-20T21:31:42",
"op": [
"vote",
{
"voter": "filipino",
"author": "petrovanalytics",
"permlink": "news-g6zsgt710e-rqdndh1wu0r",
"weight": 1000
}
]
}spaminatorflagged (-0.50%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r2020/03/20 20:54:51
spaminatorflagged (-0.50%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r
2020/03/20 20:54:51
| voter | spaminator |
| author | petrovanalytics |
| permlink | news-g6zsgt710e-rqdndh1wu0r |
| weight | -50 (-0.50%) |
| Transaction Info | Block #41826620/Trx 80eafad863f88d6a51e75ac30b9c25cc2b8d0ea8 |
View Raw JSON Data
{
"trx_id": "80eafad863f88d6a51e75ac30b9c25cc2b8d0ea8",
"block": 41826620,
"trx_in_block": 21,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-03-20T20:54:51",
"op": [
"vote",
{
"voter": "spaminator",
"author": "petrovanalytics",
"permlink": "news-g6zsgt710e-rqdndh1wu0r",
"weight": -50
}
]
}2020/03/20 20:54:30
2020/03/20 20:54:30
| parent author | petrovanalytics |
| parent permlink | news-g6zsgt710e-rqdndh1wu0r |
| author | innerhive |
| permlink | innerhive-re-petrovanalyticsnews-g6zsgt710e-rqdndh1wu0r |
| title | |
| body | https://i.imgur.com/CBqCEo5.png<br><br>HIVE IS ALIVE!!!<br><br>JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!<br><br>https://hive.blog |
| json metadata | |
| Transaction Info | Block #41826613/Trx ba0f337937c793052fee6639703a0ae780820803 |
View Raw JSON Data
{
"trx_id": "ba0f337937c793052fee6639703a0ae780820803",
"block": 41826613,
"trx_in_block": 20,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-03-20T20:54:30",
"op": [
"comment",
{
"parent_author": "petrovanalytics",
"parent_permlink": "news-g6zsgt710e-rqdndh1wu0r",
"author": "innerhive",
"permlink": "innerhive-re-petrovanalyticsnews-g6zsgt710e-rqdndh1wu0r",
"title": "",
"body": "https://i.imgur.com/CBqCEo5.png<br><br>HIVE IS ALIVE!!!<br><br>JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!<br><br>https://hive.blog",
"json_metadata": ""
}
]
}innerhiveupvoted (0.01%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r2020/03/20 20:54:30
innerhiveupvoted (0.01%) @petrovanalytics / news-g6zsgt710e-rqdndh1wu0r
2020/03/20 20:54:30
| voter | innerhive |
| author | petrovanalytics |
| permlink | news-g6zsgt710e-rqdndh1wu0r |
| weight | 1 (0.01%) |
| Transaction Info | Block #41826613/Trx d37efbb49831ad3747fe3abb8f2e7dab1ecf06f2 |
View Raw JSON Data
{
"trx_id": "d37efbb49831ad3747fe3abb8f2e7dab1ecf06f2",
"block": 41826613,
"trx_in_block": 1,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-03-20T20:54:30",
"op": [
"vote",
{
"voter": "innerhive",
"author": "petrovanalytics",
"permlink": "news-g6zsgt710e-rqdndh1wu0r",
"weight": 1
}
]
}petrovanalyticspublished a new post: news-g6zsgt710e-rqdndh1wu0r2020/03/20 20:54:03
petrovanalyticspublished a new post: news-g6zsgt710e-rqdndh1wu0r
2020/03/20 20:54:03
| parent author | |
| parent permlink | money |
| author | petrovanalytics |
| permlink | news-g6zsgt710e-rqdndh1wu0r |
| title | Markets Calm Somewhat On More Policy Easing |
| body | The financial community calmed somewhat yesterday following further easing measures by more central banks. Oil rebounded on Trump’s hints to intervene and stabilize prices, while the US US Dollar Index retreated after the Fed decided to supply via swaps nine additional nations with dollars. RISK AVERSION EASES ON ADDITIONAL EFFORTS TO SOFTEN THE VIRUS ECONOMIC IMPACT The dollar retreated against all but three of the other G10 currencies on Thursday and during the Asian morning Friday. It lost the most ground against NOK, AUD and NZD in that order, while it eked out some gains versus EUR, CHF and JPY. USD performance G10 currencies https://d1-invdn-com.akamaized.net/content/pic1e1df37f70a5e2c31d8c584be4baed2b.png USD performance G10 currencies The weakening of the safe havens and the strengthening of the risk-linked currencies suggest that risk aversion eased somewhat yesterday. Indeed, turning our gaze to the equity market, we see that major EU and US indices rebounded somewhat, with the calmness rolling into the Asian session today. China’s Shanghai Composite gained 1.61%, while Hong Kong’s Hang Seng and South Korea’s KOSPI advanced 4.25% and 7.44% respectively. Japanese markets were closed due to the Vernal Equinox holiday. Major global stock indices performance https://d1-invdn-com.akamaized.net/content/pica72530310072437750a316d290bc119c.png Major global stock indices performance The relative calmness may have been the result of further easing measures by more central banks, including the Bo E and the Norges Bank. The Bo E decided to cut further its benchmark rate, by 15bps to +0.1% and noted that it will increase its holdings of government bonds, which means restarting QE. The Norges Bank also reduced rates, by 50bps to +1.00%, adding that is prepared to make further rate cuts if needed. Officials also said that they stand ready to intervene and lift the Krone, a move not taken in more than 20 years. This comes after the currency’s 30% tumble against the US currency, which was also fueled by the free fall in oil prices. We also had an SNB policy decision, but this Bank refrained from touching its already low interest rate of -0.75%. As we have been expecting, officials just strengthened their intervention language, noting that they will intervene more strongly in the FX market. They also added that the franc is now even more highly valued. The Swiss franc was among the main losers yesterday, as apart from the broader market calmness, the SNB may have already been stepping up its intervention practices to keep the currency from strengthening further and this is evident by the sharp increases in total sight deposits week by week. Back to Norway and the Krone, this currency was the main gainer despite the 50bps cut by the Norges Bank. It could be due to Norges Bank’s intervention warnings but also due to the rebound in oil prices. Brent oil vs USD/NOK https://d1-invdn-com.akamaized.net/content/picf152feb50d85f7d985b4ced15503d02a.png Brent oil vs USD/NOK Both Brent and WTI gained 14.43% and 23.81% respectively yesterday, after US President Trump hinted that the US may initiate efforts to support prices at an “appropriate time”. The Trump administration is considering pushing Saudi Arabia to reduce production and to sanction Russia in order to force them do the same. The black liquid may have also been supported by US plans to buy oil for emergency stockpiling. The US’s attempts may keep prices supported for a while, but we doubt that they will be enough to offset the demand shortages due to the outbreak of the coronavirus. Thus, we would treat any further recovery in oil as a corrective move of the broader steep downtrend. Now, back to the currencies and the US dollar, it’s pullback may have been the result of the Fed’s decision to supply via swaps nine additional nations with dollars. The Fed said that the swaps will allow other central banks to tap up to a total USD 450bn, in order to ensure that the USD-dependent financial system will continue to function. Having said all that though, we stick to our guns that equities may have not hit a bottom yet, and the dollar may have not reached a peak. We repeat for the umpteenth time that the worst may not be behind us yet. The coronavirus continues to spread at an exponential pace, with new deaths and cases hitting new records yesterday. Namely, we had 26111 new infections and 1080 new deaths. We believe that the economic wounds could continue to deepen and that investors may soon abandon risk assets again in favor of safe havens, and even more in favor of the US dollar, which appears to be the refuge in extremely turbulence market conditions. With the CBOE volatility index (the VIX, or “fear index”) hovering around the 2008 crisis peak, no one can doubt that the phase we are going through is a turbulent one. In order to change our view, we would like to see headlines that a vaccine is ready for distribution to the whole world. Virus new deaths and ceases day by day, CBOE VIX index https://d1-invdn-com.akamaized.net/content/pic8698d36371b3830c03f3551eef5a4e3b.png Virus new deaths and ceases day by day, CBOE VIX index BRENT OIL – TECHNICAL OUTLOOK Overall, Brent oil continues to trade below its short-term tentative downside resistance line taken from the high of January 8th. From the beginning of March, the commodity has been falling sharply, which at one point this week led the price to a drop below the 2016 low, at 27.08. But as we can see, yesterday Brent oil clawed back above that low and today it remains above it. Although we could get another push to the upside, if the price stays below the 31.66 barrier, we will continue observing the downside as our main scenario, at least for now. As mentioned above, a push a bit higher could test the 31.66 hurdle, which is the low March 9th. If that area stays intact, this could result in another slide, as the bears may take advantage of the higher price. The commodity might then drift back to the previously-mentioned 27.08 hurdle, a break of which may send Brent oil to the current low of this week, at 24.73. Slightly below that lies another possible support zone, at 23.05, which is the lowest point of April 2003. Alternatively, if the commodity manages to get back above the previously-discussed 31.66 obstacle, this may spook the bears from the field temporarily. That said, more bulls could join in if Brent oil travels above the 36.43 barrier, marked by the high of March 13th. That may open the door for a move to the 39.94 area, which is the high of March 11th. The price could stall there temporarily, but if the buying continues, a further push north might test the 45.64 level, which is the low of March 6th. Around there, the commodity might also test the aforementioned downside line, which may provide additional resistance. Brent crude oil daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pica03af33cefbd3f7d295fdf513516b558.png Brent crude oil daily chart technical analysis USD/NOK – TECHNICAL OUTLOOK USD/NOK exploded to the upside this week, reaching a historic high near the 12.119 level. But yesterday, after hitting that level, the pair started correcting sharply to the downside. Today the slide continues. However, if the rate continues moving lower, but stays above its short-term tentative upside support line drawn from the low of March 6th, we may class this move as a temporary correction before another leg of buying. As mentioned above, if the rate continues drifting lower and gets a hold-up near the aforementioned upside line, this could attract the bulls back into the field and help lift the pair up again. If so, we will once again aim for the 11.165 hurdle, marked by yesterday’s low, a break of which could set the stage for a push to the 11.514 level, marked by the high of March 18th. On the other hand, if the aforementioned upside line breaks and the rate falls below the 10.444 hurdle, which is the low of March 18th, this may spook the buyers for a while and allow the sellers to take the steering wheel. USD/NOK could then fall to the 10.272 obstacle, a break of which may clear the path to the 9.880 zone, marked by the low of March 13th. Initially, the pair may stall around there, or even correct higher. However, if the rate stays below the 10.272 barrier, that might result in another round of selling, leading the rate back to the 9.880 area. If this time that area fails to provide good support and breaks, the next possible support level to consider could be the 9.688 hurdle, marked by the high of March 8th and the low of March 12th. USD/NOK daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pic5ac979e3690ad27ec697de3926efdbe2.png USD/NOK daily chart technical analysis AS FOR TODAY’S EVENTS From Canada, we get retail sales for January, while in the US, we have the existing home sales for February. Canada’s headline sales are expected to have risen 0.4% mom, after stagnating in December, while the core rate is expected to have declined to +0.2% mom from +0.5%. The US existing home sales are forecast to have rebounded 0.8% mom after sliding 1.3% in January.The financial community calmed somewhat yesterday following further easing measures by more central banks. Oil rebounded on Trump’s hints to intervene and stabilize prices, while the US dollar retreated after the Fed decided to supply via swaps nine additional nations with dollars. RISK AVERSION EASES ON ADDITIONAL EFFORTS TO SOFTEN THE VIRUS ECONOMIC IMPACTThe dollar retreated against all but three of the other G10 currencies on Thursday and during the Asian morning Friday. It lost the most ground against NOK, AUD and NZD in that order, while it eked out some gains versus EUR, CHF and JPY. USD performance G10 currencies https://d1-invdn-com.akamaized.net/content/pic1e1df37f70a5e2c31d8c584be4baed2b.png USD performance G10 currencies The weakening of the safe havens and the strengthening of the risk-linked currencies suggest that risk aversion eased somewhat yesterday. Indeed, turning our gaze to the equity market, we see that major EU and US indices rebounded somewhat, with the calmness rolling into the Asian session today. China’s Shanghai Composite gained 1.61%, while Hong Kong’s Hang Seng and South Korea’s KOSPI advanced 4.25% and 7.44% respectively. Japanese markets were closed due to the Vernal Equinox holiday. Major global stock indices performance https://d1-invdn-com.akamaized.net/content/pica72530310072437750a316d290bc119c.png Major global stock indices performance The relative calmness may have been the result of further easing measures by more central banks, including the Bo E and the Norges Bank. The Bo E decided to cut further its benchmark rate, by 15bps to +0.1% and noted that it will increase its holdings of government bonds, which means restarting QE. The Norges Bank also reduced rates, by 50bps to +1.00%, adding that is prepared to make further rate cuts if needed. Officials also said that they stand ready to intervene and lift the Krone, a move not taken in more than 20 years. This comes after the currency’s 30% tumble against the US currency, which was also fueled by the free fall in oil prices. We also had an SNB policy decision, but this Bank refrained from touching its already low interest rate of -0.75%. As we have been expecting, officials just strengthened their intervention language, noting that they will intervene more strongly in the FX market. They also added that the franc is now even more highly valued. The Swiss franc was among the main losers yesterday, as apart from the broader market calmness, the SNB may have already been stepping up its intervention practices to keep the currency from strengthening further and this is evident by the sharp increases in total sight deposits week by week. Back to Norway and the Krone, this currency was the main gainer despite the 50bps cut by the Norges Bank. It could be due to Norges Bank’s intervention warnings but also due to the rebound in oil prices. Brent oil vs USD/NOK https://d1-invdn-com.akamaized.net/content/picf152feb50d85f7d985b4ced15503d02a.png Brent oil vs USD/NOK Both Brent and WTI gained 14.43% and 23.81% respectively yesterday, after US President Trump hinted that the US may initiate efforts to support prices at an “appropriate time”. The Trump administration is considering pushing Saudi Arabia to reduce production and to sanction Russia in order to force them do the same. The black liquid may have also been supported by US plans to buy oil for emergency stockpiling. The US’s attempts may keep prices supported for a while, but we doubt that they will be enough to offset the demand shortages due to the outbreak of the coronavirus. Thus, we would treat any further recovery in oil as a corrective move of the broader steep downtrend. Now, back to the currencies and the US dollar, it’s pullback may have been the result of the Fed’s decision to supply via swaps nine additional nations with dollars. The Fed said that the swaps will allow other central banks to tap up to a total USD 450bn, in order to ensure that the USD-dependent financial system will continue to function. Having said all that though, we stick to our guns that equities may have not hit a bottom yet, and the dollar may have not reached a peak. We repeat for the umpteenth time that the worst may not be behind us yet. The coronavirus continues to spread at an exponential pace, with new deaths and cases hitting new records yesterday. Namely, we had 26111 new infections and 1080 new deaths. We believe that the economic wounds could continue to deepen and that investors may soon abandon risk assets again in favor of safe havens, and even more in favor of the US dollar, which appears to be the refuge in extremely turbulence market conditions. With the CBOE volatility index (the VIX, or “fear index”) hovering around the 2008 crisis peak, no one can doubt that the phase we are going through is a turbulent one. In order to change our view, we would like to see headlines that a vaccine is ready for distribution to the whole world. Virus new deaths and ceases day by day, CBOE VIX index https://d1-invdn-com.akamaized.net/content/pic8698d36371b3830c03f3551eef5a4e3b.png Virus new deaths and ceases day by day, CBOE VIX index BRENT OIL – TECHNICAL OUTLOOKOverall, Brent oil continues to trade below its short-term tentative downside resistance line taken from the high of January 8th. From the beginning of March, the commodity has been falling sharply, which at one point this week led the price to a drop below the 2016 low, at 27.08. But as we can see, yesterday Brent oil clawed back above that low and today it remains above it. Although we could get another push to the upside, if the price stays below the 31.66 barrier, we will continue observing the downside as our main scenario, at least for now. As mentioned above, a push a bit higher could test the 31.66 hurdle, which is the low March 9th. If that area stays intact, this could result in another slide, as the bears may take advantage of the higher price. The commodity might then drift back to the previously-mentioned 27.08 hurdle, a break of which may send Brent oil to the current low of this week, at 24.73. Slightly below that lies another possible support zone, at 23.05, which is the lowest point of April 2003. Alternatively, if the commodity manages to get back above the previously-discussed 31.66 obstacle, this may spook the bears from the field temporarily. That said, more bulls could join in if Brent oil travels above the 36.43 barrier, marked by the high of March 13th. That may open the door for a move to the 39.94 area, which is the high of March 11th. The price could stall there temporarily, but if the buying continues, a further push north might test the 45.64 level, which is the low of March 6th. Around there, the commodity might also test the aforementioned downside line, which may provide additional resistance. Brent crude oil daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pica03af33cefbd3f7d295fdf513516b558.png Brent crude oil daily chart technical analysis USD/NOK – TECHNICAL OUTLOOKUSD/NOK exploded to the upside this week, reaching a historic high near the 12.119 level. But yesterday, after hitting that level, the pair started correcting sharply to the downside. Today the slide continues. However, if the rate continues moving lower, but stays above its short-term tentative upside support line drawn from the low of March 6th, we may class this move as a temporary correction before another leg of buying. As mentioned above, if the rate continues drifting lower and gets a hold-up near the aforementioned upside line, this could attract the bulls back into the field and help lift the pair up again. If so, we will once again aim for the 11.165 hurdle, marked by yesterday’s low, a break of which could set the stage for a push to the 11.514 level, marked by the high of March 18th. On the other hand, if the aforementioned upside line breaks and the rate falls below the 10.444 hurdle, which is the low of March 18th, this may spook the buyers for a while and allow the sellers to take the steering wheel. USD/NOK could then fall to the 10.272 obstacle, a break of which may clear the path to the 9.880 zone, marked by the low of March 13th. Initially, the pair may stall around there, or even correct higher. However, if the rate stays below the 10.272 barrier, that might result in another round of selling, leading the rate back to the 9.880 area. If this time that area fails to provide good support and breaks, the next possible support level to consider could be the 9.688 hurdle, marked by the high of March 8th and the low of March 12th. USD/NOK daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pic5ac979e3690ad27ec697de3926efdbe2.png USD/NOK daily chart technical analysis AS FOR TODAY’S EVENTSFrom Canada, we get retail sales for January, while in the US, we have the existing home sales for February. Canada’s headline sales are expected to have risen 0.4% mom, after stagnating in December, while the core rate is expected to have declined to +0.2% mom from +0.5%. The US existing home sales are forecast to have rebounded 0.8% mom after sliding 1.3% in January. Daily Market Review: Markets Calm Somewhat on More Policy Easing <center>[Original Post](https://www.investing.com/analysis/markets-calm-somewhat-on-more-policy-easing-200517583)</center> |
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"title": "Markets Calm Somewhat On More Policy Easing",
"body": "The financial community calmed somewhat yesterday following further easing measures by more central banks. Oil rebounded on Trump’s hints to intervene and stabilize prices, while the US US Dollar Index retreated after the Fed decided to supply via swaps nine additional nations with dollars.\n\nRISK AVERSION EASES ON ADDITIONAL EFFORTS TO SOFTEN THE VIRUS ECONOMIC IMPACT\n\nThe dollar retreated against all but three of the other G10 currencies on Thursday and during the Asian morning Friday. It lost the most ground against NOK, AUD and NZD in that order, while it eked out some gains versus EUR, CHF and JPY.\n\nUSD performance G10 currencies https://d1-invdn-com.akamaized.net/content/pic1e1df37f70a5e2c31d8c584be4baed2b.png USD performance G10 currencies\n\nThe weakening of the safe havens and the strengthening of the risk-linked currencies suggest that risk aversion eased somewhat yesterday. Indeed, turning our gaze to the equity market, we see that major EU and US indices rebounded somewhat, with the calmness rolling into the Asian session today. China’s Shanghai Composite gained 1.61%, while Hong Kong’s Hang Seng and South Korea’s KOSPI advanced 4.25% and 7.44% respectively. Japanese markets were closed due to the Vernal Equinox holiday.\n\nMajor global stock indices performance https://d1-invdn-com.akamaized.net/content/pica72530310072437750a316d290bc119c.png Major global stock indices performance\n\nThe relative calmness may have been the result of further easing measures by more central banks, including the Bo\nE and the Norges Bank. The Bo\nE decided to cut further its benchmark rate, by 15bps to +0.1% and noted that it will increase its holdings of government bonds, which means restarting QE. The Norges Bank also reduced rates, by 50bps to +1.00%, adding that is prepared to make further rate cuts if needed. Officials also said that they stand ready to intervene and lift the Krone, a move not taken in more than 20 years. This comes after the currency’s 30% tumble against the US currency, which was also fueled by the free fall in oil prices. We also had an SNB policy decision, but this Bank refrained from touching its already low interest rate of -0.75%. As we have been expecting, officials just strengthened their intervention language, noting that they will intervene more strongly in the FX market. They also added that the franc is now even more highly valued.\n\nThe Swiss franc was among the main losers yesterday, as apart from the broader market calmness, the SNB may have already been stepping up its intervention practices to keep the currency from strengthening further and this is evident by the sharp increases in total sight deposits week by week. Back to Norway and the Krone, this currency was the main gainer despite the 50bps cut by the Norges Bank. It could be due to Norges Bank’s intervention warnings but also due to the rebound in oil prices.\n\nBrent oil vs USD/NOK https://d1-invdn-com.akamaized.net/content/picf152feb50d85f7d985b4ced15503d02a.png Brent oil vs USD/NOK\n\nBoth Brent and WTI gained 14.43% and 23.81% respectively yesterday, after US President Trump hinted that the US may initiate efforts to support prices at an “appropriate time”. The Trump administration is considering pushing Saudi Arabia to reduce production and to sanction Russia in order to force them do the same. The black liquid may have also been supported by US plans to buy oil for emergency stockpiling. The US’s attempts may keep prices supported for a while, but we doubt that they will be enough to offset the demand shortages due to the outbreak of the coronavirus. Thus, we would treat any further recovery in oil as a corrective move of the broader steep downtrend.\n\nNow, back to the currencies and the US dollar, it’s pullback may have been the result of the Fed’s decision to supply via swaps nine additional nations with dollars. The Fed said that the swaps will allow other central banks to tap up to a total USD 450bn, in order to ensure that the USD-dependent financial system will continue to function.\n\nHaving said all that though, we stick to our guns that equities may have not hit a bottom yet, and the dollar may have not reached a peak. We repeat for the umpteenth time that the worst may not be behind us yet. The coronavirus continues to spread at an exponential pace, with new deaths and cases hitting new records yesterday. Namely, we had 26111 new infections and 1080 new deaths. We believe that the economic wounds could continue to deepen and that investors may soon abandon risk assets again in favor of safe havens, and even more in favor of the US dollar, which appears to be the refuge in extremely turbulence market conditions. With the CBOE volatility index (the VIX, or “fear index”) hovering around the 2008 crisis peak, no one can doubt that the phase we are going through is a turbulent one. In order to change our view, we would like to see headlines that a vaccine is ready for distribution to the whole world.\n\nVirus new deaths and ceases day by day, CBOE VIX index https://d1-invdn-com.akamaized.net/content/pic8698d36371b3830c03f3551eef5a4e3b.png Virus new deaths and ceases day by day, CBOE VIX index \n\nBRENT OIL – TECHNICAL OUTLOOK\n\nOverall, Brent oil continues to trade below its short-term tentative downside resistance line taken from the high of January 8th. From the beginning of March, the commodity has been falling sharply, which at one point this week led the price to a drop below the 2016 low, at 27.08. But as we can see, yesterday Brent oil clawed back above that low and today it remains above it. Although we could get another push to the upside, if the price stays below the 31.66 barrier, we will continue observing the downside as our main scenario, at least for now.\n\nAs mentioned above, a push a bit higher could test the 31.66 hurdle, which is the low March 9th. If that area stays intact, this could result in another slide, as the bears may take advantage of the higher price. The commodity might then drift back to the previously-mentioned 27.08 hurdle, a break of which may send Brent oil to the current low of this week, at 24.73. Slightly below that lies another possible support zone, at 23.05, which is the lowest point of April 2003.\n\nAlternatively, if the commodity manages to get back above the previously-discussed 31.66 obstacle, this may spook the bears from the field temporarily. That said, more bulls could join in if Brent oil travels above the 36.43 barrier, marked by the high of March 13th. That may open the door for a move to the 39.94 area, which is the high of March 11th. The price could stall there temporarily, but if the buying continues, a further push north might test the 45.64 level, which is the low of March 6th. Around there, the commodity might also test the aforementioned downside line, which may provide additional resistance.\n\nBrent crude oil daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pica03af33cefbd3f7d295fdf513516b558.png Brent crude oil daily chart technical analysis\n\nUSD/NOK – TECHNICAL OUTLOOK\n\nUSD/NOK exploded to the upside this week, reaching a historic high near the 12.119 level. But yesterday, after hitting that level, the pair started correcting sharply to the downside. Today the slide continues. However, if the rate continues moving lower, but stays above its short-term tentative upside support line drawn from the low of March 6th, we may class this move as a temporary correction before another leg of buying.\n\nAs mentioned above, if the rate continues drifting lower and gets a hold-up near the aforementioned upside line, this could attract the bulls back into the field and help lift the pair up again. If so, we will once again aim for the 11.165 hurdle, marked by yesterday’s low, a break of which could set the stage for a push to the 11.514 level, marked by the high of March 18th.\n\nOn the other hand, if the aforementioned upside line breaks and the rate falls below the 10.444 hurdle, which is the low of March 18th, this may spook the buyers for a while and allow the sellers to take the steering wheel. USD/NOK could then fall to the 10.272 obstacle, a break of which may clear the path to the 9.880 zone, marked by the low of March 13th. Initially, the pair may stall around there, or even correct higher. However, if the rate stays below the 10.272 barrier, that might result in another round of selling, leading the rate back to the 9.880 area. If this time that area fails to provide good support and breaks, the next possible support level to consider could be the 9.688 hurdle, marked by the high of March 8th and the low of March 12th.\n\nUSD/NOK daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pic5ac979e3690ad27ec697de3926efdbe2.png USD/NOK daily chart technical analysis\n\nAS FOR TODAY’S EVENTS\n\nFrom Canada, we get retail sales for January, while in the US, we have the existing home sales for February. Canada’s headline sales are expected to have risen 0.4% mom, after stagnating in December, while the core rate is expected to have declined to +0.2% mom from +0.5%. The US existing home sales are forecast to have rebounded 0.8% mom after sliding 1.3% in January.The financial community calmed somewhat yesterday following further easing measures by more central banks. Oil rebounded on Trump’s hints to intervene and stabilize prices, while the US dollar retreated after the Fed decided to supply via swaps nine additional nations with dollars.\nRISK AVERSION EASES ON ADDITIONAL EFFORTS TO SOFTEN THE VIRUS ECONOMIC IMPACTThe dollar retreated against all but three of the other G10 currencies on Thursday and during the Asian morning Friday. It lost the most ground against NOK, AUD and NZD in that order, while it eked out some gains versus EUR, CHF and JPY.\nUSD performance G10 currencies https://d1-invdn-com.akamaized.net/content/pic1e1df37f70a5e2c31d8c584be4baed2b.png USD performance G10 currencies\nThe weakening of the safe havens and the strengthening of the risk-linked currencies suggest that risk aversion eased somewhat yesterday. Indeed, turning our gaze to the equity market, we see that major EU and US indices rebounded somewhat, with the calmness rolling into the Asian session today. China’s Shanghai Composite gained 1.61%, while Hong Kong’s Hang Seng and South Korea’s KOSPI advanced 4.25% and 7.44% respectively. Japanese markets were closed due to the Vernal Equinox holiday.\nMajor global stock indices performance https://d1-invdn-com.akamaized.net/content/pica72530310072437750a316d290bc119c.png Major global stock indices performance\nThe relative calmness may have been the result of further easing measures by more central banks, including the Bo\nE and the Norges Bank. The Bo\nE decided to cut further its benchmark rate, by 15bps to +0.1% and noted that it will increase its holdings of government bonds, which means restarting QE. The Norges Bank also reduced rates, by 50bps to +1.00%, adding that is prepared to make further rate cuts if needed. Officials also said that they stand ready to intervene and lift the Krone, a move not taken in more than 20 years. This comes after the currency’s 30% tumble against the US currency, which was also fueled by the free fall in oil prices. We also had an SNB policy decision, but this Bank refrained from touching its already low interest rate of -0.75%. As we have been expecting, officials just strengthened their intervention language, noting that they will intervene more strongly in the FX market. They also added that the franc is now even more highly valued.\nThe Swiss franc was among the main losers yesterday, as apart from the broader market calmness, the SNB may have already been stepping up its intervention practices to keep the currency from strengthening further and this is evident by the sharp increases in total sight deposits week by week. Back to Norway and the Krone, this currency was the main gainer despite the 50bps cut by the Norges Bank. It could be due to Norges Bank’s intervention warnings but also due to the rebound in oil prices.\nBrent oil vs USD/NOK https://d1-invdn-com.akamaized.net/content/picf152feb50d85f7d985b4ced15503d02a.png Brent oil vs USD/NOK\nBoth Brent and WTI gained 14.43% and 23.81% respectively yesterday, after US President Trump hinted that the US may initiate efforts to support prices at an “appropriate time”. The Trump administration is considering pushing Saudi Arabia to reduce production and to sanction Russia in order to force them do the same. The black liquid may have also been supported by US plans to buy oil for emergency stockpiling. The US’s attempts may keep prices supported for a while, but we doubt that they will be enough to offset the demand shortages due to the outbreak of the coronavirus. Thus, we would treat any further recovery in oil as a corrective move of the broader steep downtrend.\nNow, back to the currencies and the US dollar, it’s pullback may have been the result of the Fed’s decision to supply via swaps nine additional nations with dollars. The Fed said that the swaps will allow other central banks to tap up to a total USD 450bn, in order to ensure that the USD-dependent financial system will continue to function.\nHaving said all that though, we stick to our guns that equities may have not hit a bottom yet, and the dollar may have not reached a peak. We repeat for the umpteenth time that the worst may not be behind us yet. The coronavirus continues to spread at an exponential pace, with new deaths and cases hitting new records yesterday. Namely, we had 26111 new infections and 1080 new deaths. We believe that the economic wounds could continue to deepen and that investors may soon abandon risk assets again in favor of safe havens, and even more in favor of the US dollar, which appears to be the refuge in extremely turbulence market conditions. With the CBOE volatility index (the VIX, or “fear index”) hovering around the 2008 crisis peak, no one can doubt that the phase we are going through is a turbulent one. In order to change our view, we would like to see headlines that a vaccine is ready for distribution to the whole world.\nVirus new deaths and ceases day by day, CBOE VIX index https://d1-invdn-com.akamaized.net/content/pic8698d36371b3830c03f3551eef5a4e3b.png Virus new deaths and ceases day by day, CBOE VIX index \nBRENT OIL – TECHNICAL OUTLOOKOverall, Brent oil continues to trade below its short-term tentative downside resistance line taken from the high of January 8th. From the beginning of March, the commodity has been falling sharply, which at one point this week led the price to a drop below the 2016 low, at 27.08. But as we can see, yesterday Brent oil clawed back above that low and today it remains above it. Although we could get another push to the upside, if the price stays below the 31.66 barrier, we will continue observing the downside as our main scenario, at least for now.\nAs mentioned above, a push a bit higher could test the 31.66 hurdle, which is the low March 9th. If that area stays intact, this could result in another slide, as the bears may take advantage of the higher price. The commodity might then drift back to the previously-mentioned 27.08 hurdle, a break of which may send Brent oil to the current low of this week, at 24.73. Slightly below that lies another possible support zone, at 23.05, which is the lowest point of April 2003.\nAlternatively, if the commodity manages to get back above the previously-discussed 31.66 obstacle, this may spook the bears from the field temporarily. That said, more bulls could join in if Brent oil travels above the 36.43 barrier, marked by the high of March 13th. That may open the door for a move to the 39.94 area, which is the high of March 11th. The price could stall there temporarily, but if the buying continues, a further push north might test the 45.64 level, which is the low of March 6th. Around there, the commodity might also test the aforementioned downside line, which may provide additional resistance.\nBrent crude oil daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pica03af33cefbd3f7d295fdf513516b558.png Brent crude oil daily chart technical analysis\nUSD/NOK – TECHNICAL OUTLOOKUSD/NOK exploded to the upside this week, reaching a historic high near the 12.119 level. But yesterday, after hitting that level, the pair started correcting sharply to the downside. Today the slide continues. However, if the rate continues moving lower, but stays above its short-term tentative upside support line drawn from the low of March 6th, we may class this move as a temporary correction before another leg of buying.\nAs mentioned above, if the rate continues drifting lower and gets a hold-up near the aforementioned upside line, this could attract the bulls back into the field and help lift the pair up again. If so, we will once again aim for the 11.165 hurdle, marked by yesterday’s low, a break of which could set the stage for a push to the 11.514 level, marked by the high of March 18th.\nOn the other hand, if the aforementioned upside line breaks and the rate falls below the 10.444 hurdle, which is the low of March 18th, this may spook the buyers for a while and allow the sellers to take the steering wheel. USD/NOK could then fall to the 10.272 obstacle, a break of which may clear the path to the 9.880 zone, marked by the low of March 13th. Initially, the pair may stall around there, or even correct higher. However, if the rate stays below the 10.272 barrier, that might result in another round of selling, leading the rate back to the 9.880 area. If this time that area fails to provide good support and breaks, the next possible support level to consider could be the 9.688 hurdle, marked by the high of March 8th and the low of March 12th.\nUSD/NOK daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pic5ac979e3690ad27ec697de3926efdbe2.png USD/NOK daily chart technical analysis\nAS FOR TODAY’S EVENTSFrom Canada, we get retail sales for January, while in the US, we have the existing home sales for February. Canada’s headline sales are expected to have risen 0.4% mom, after stagnating in December, while the core rate is expected to have declined to +0.2% mom from +0.5%. The US existing home sales are forecast to have rebounded 0.8% mom after sliding 1.3% in January.\n\nDaily Market Review: Markets Calm Somewhat on More Policy Easing \n <center>[Original Post](https://www.investing.com/analysis/markets-calm-somewhat-on-more-policy-easing-200517583)</center>",
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}filipinoupvoted (10.00%) @petrovanalytics / news-7onjapjh8h-vkj8hk58gk2020/03/20 08:31:57
filipinoupvoted (10.00%) @petrovanalytics / news-7onjapjh8h-vkj8hk58gk
2020/03/20 08:31:57
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}spaminatorflagged (-0.50%) @petrovanalytics / news-lhydshtbuae-yocp7jfc9co2020/03/20 08:18:57
spaminatorflagged (-0.50%) @petrovanalytics / news-lhydshtbuae-yocp7jfc9co
2020/03/20 08:18:57
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2020/03/20 08:18:27
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-lhydshtbuae-yocp7jfc9co2020/03/20 08:18:24
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2020/03/20 08:18:24
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2020/03/20 08:18:12
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| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please [follow @innerhive on twitter](https://twitter.com/innerhive) for more information. |
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"body": "https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please [follow @innerhive on twitter](https://twitter.com/innerhive) for more information.",
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}innerhiveupvoted (0.01%) @petrovanalytics / news-lhydshtbuae-yocp7jfc9co2020/03/20 08:18:12
innerhiveupvoted (0.01%) @petrovanalytics / news-lhydshtbuae-yocp7jfc9co
2020/03/20 08:18:12
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}petrovanalyticspublished a new post: news-lhydshtbuae-yocp7jfc9co2020/03/20 08:18:06
petrovanalyticspublished a new post: news-lhydshtbuae-yocp7jfc9co
2020/03/20 08:18:06
| parent author | |
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| author | petrovanalytics |
| permlink | news-lhydshtbuae-yocp7jfc9co |
| title | In A Coronavirus World, Texas Thinks Less Oil Will Be Better |
| body | Over the last decade, Texas could only think of one thing to tell its oil industry: “Drill, baby, drill!” Now, the Lone Star State is telling those same drillers: “slower, baby, slower.” The coronavirus has upended the world, including Texas, which is home to Houston, the “Energy Capital of the World” and Permian, the shale basin that last year surpassed Saudi Arabia’s Ghawar as the top producing oilfield. As U.S. crude prices fell to 18-year lows of nearly $20 per barrel on Wednesday from the systemic destruction of demand caused by the Covid-19 and fear of oversupply from the Saudis’ new pump-till-we-drop mantra, Texas was weighing a decision that could be a new “shock and awe” in its more-than-century-old drilling history. WTI Futures Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pic2ee4abb15fa817005de126ac853b806a.png WTI Futures Weekly Price Chart Energy executives in the state had reached out to the Texas Railroad Commission, which regulates the industry, for relief, and the TRC was considering curtailing production in America’s largest oil-producing state, the Wall Street Journal reported on Thursday. FIRST POTENTIAL CURB ON TEXAN OIL IN 50 YEARS If that were to happen, it would be Texas’ first curb on drillers since the 1970s, when overproduction by the state set off the infamous Arab oil embargo, price shocks, long lines at U.S. gas stations, shifting American geopolitical alliances and wars in the Middle East. Texas was, in fact, a model for the Saudi-led OPEC, which has largely influenced global oil prices for the past 50 years with production controls. As the Journal itself highlighted, it was unclear if the regulators at TRC would act to curtail production, although staffers at the commission were examining what would be needed if they were to proceed. Such curbs would certainly produce another watershed moment for Texas drilling since the first great gusher from a well in Beaumont city in 1901. Without Texas’ Permian and Eagle Ford shale basins, the United States wouldn’t have a record high output of 13.1 million barrels per day that have made it the world’s largest oil producer and net crude exporter for the first time since 2019. Twitter exploded after the Journal story about the potential TRC curbs, with comments that ran the gamut, from whether the TRC had the political will for such an act to discussing the appropriate enactments and tools in the regulators’ arsenal for such curbs. “No action by the TRC can help Texas producers while Texas refiners can import unlimited amounts of oil — especially the grade of oil best suited for the refineries,” tweeted Ed Hirs, Energy Fellow at University of Houston and managing director at Hillhouse Resources, an oil drilling company on the Texas Gulf Coast. ACT ON FLARING COULD BE THE CATALYST Many referred to a report on natural gas flaring being prepared by TRC member Ryan Sitton that could become a catalyst for the commission to place curbs on the industry. Gas is a byproduct of crude production and its flaring has become one of the worst side effects of the shale boom in Texas. As Bloomberg noted in an interview with Sitton, vast amounts of gas from oil wells in the Permian Basin were being burnt off for lack of pipelines to ship it away. While pressure mounts to curb the practice, a supply glut, depressed U.S. gas prices and the distance from key markets for the heating fuel means the byproduct of crude production has little value for explorers in the state. Now with oil prices at multi-year lows too, and green groups continuing to target the shale industry for flaring and other environmental concerns, the TRC might feel empowered to act, though the outcome remains uncertain. “Not even sure quotas will go into effect,” Bob Mc Nally, president at Rapidan Energy, a Washington-based think-tank, said in a tweet that discussed the merits of Sitton’s flaring report resulting in production quotas for Texan drillers. Still, the fact that cuts were being considered seriously for the first time since 1972 underscored the point that “it's hard to run the world economy without a swing oil producer,” Mc Nally said, referring to Saudi Arabia’s abandoning its role as OPEC’s arbiter. Even if the TRC doesn’t act, drillers might self-police to protect themselves, said John Kilduff, founding partner at New York energy hedge fund Again Capital. “We’re going to see a new level of capex cuts and production discipline that could amaze us,” Kilduff told Investing.com. > “It’s the only choice drillers across the U.S. have: cut or go bankrupt.” Data from Haynes and Boone’s Oilfield Services Bankruptcy Tracker showed there were six new bankruptcies in the oilfield services area in Q4 2019. Up until now in 2020, Pioneer Energy Services has been the only major oilfield services company to enter Chapter 11 bankruptcy. But many others, like Chesapeake Energy (NYSE:CHK) and Whiting Petroleum (NYSE:WLL) were already carrying heavy debt burdens before this month’s 55% drop in crude prices. CAPEX AND RIG CUTS ARE COMING Now, several exploration and production companies in the U.S. energy space have started moving in the right direction. Last week, Pioneer, one of the leading producers in the Permian Basin of Texas and New Mexico, said it was running a series of models to decide next steps. Diamondback Energy (NASDAQ:FANG) cut its activity from nine completion crews to six, dropping two more completion crews than scheduled. The shale producer said it will also cut capital spending, though it hasn’t specified an amount. Parsley Energy (NYSE:PE) said it has slashed its 2020 free cash flow outlook to at least $85 million from a prior view of at least $200 million, and announced a general activity slowdown as well. EOG Resources (NYSE:EOG) also plans to curb spending to protect return to its shareholder dividend, and will release details later. On Thursday,Continental Resources (NYSE:CLR), a pioneer driller in the Bakken field that straddles Montana and North and South Dakota, said it will cut its 2020 capital budget by $1.2 billion, a 55% reduction from its $2.65 billion. Continental also announced something else that might make an immediate impact on the market — a cut in the number of active oil rigs it ran. The company said it will reduce its average rig count in the Bakken to 3 from 9 currently, and in Oklahoma to 4 from 10.5. The U.S. oil rig count — a trusted indicator of production, even if lagged — is down 152 or 18% year-on-year. But it’s still up 367 or 116% from May 2016 — when U.S. crude last traded at $26 per barrel, not far from where it settled Thursday. “We might be back down to the 300 levels on the rig count over the next six weeks,” said Kildfuff. “Look out for it.” <center>[Original Post](https://www.investing.com/analysis/in-a-coronavirus-world-texas-thinks-less-oil-will-be-better-200517580)</center> |
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"body": "Over the last decade, Texas could only think of one thing to tell its oil industry: “Drill, baby, drill!”\n\nNow, the Lone Star State is telling those same drillers: “slower, baby, slower.”\n\nThe coronavirus has upended the world, including Texas, which is home to Houston, the “Energy Capital of the World” and Permian, the shale basin that last year surpassed Saudi Arabia’s Ghawar as the top producing oilfield.\n\nAs U.S. crude prices fell to 18-year lows of nearly $20 per barrel on Wednesday from the systemic destruction of demand caused by the Covid-19 and fear of oversupply from the Saudis’ new pump-till-we-drop mantra, Texas was weighing a decision that could be a new “shock and awe” in its more-than-century-old drilling history.\n\nWTI Futures Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pic2ee4abb15fa817005de126ac853b806a.png WTI Futures Weekly Price Chart\n\nEnergy executives in the state had reached out to the Texas Railroad Commission, which regulates the industry, for relief, and the TRC was considering curtailing production in America’s largest oil-producing state, the Wall Street Journal reported on Thursday.\n\nFIRST POTENTIAL CURB ON TEXAN OIL IN 50 YEARS\nIf that were to happen, it would be Texas’ first curb on drillers since the 1970s, when overproduction by the state set off the infamous Arab oil embargo, price shocks, long lines at U.S. gas stations, shifting American geopolitical alliances and wars in the Middle East.\n\nTexas was, in fact, a model for the Saudi-led OPEC, which has largely influenced global oil prices for the past 50 years with production controls.\n\nAs the Journal itself highlighted, it was unclear if the regulators at TRC would act to curtail production, although staffers at the commission were examining what would be needed if they were to proceed. Such curbs would certainly produce another watershed moment for Texas drilling since the first great gusher from a well in Beaumont city in 1901.\n\nWithout Texas’ Permian and Eagle Ford shale basins, the United States wouldn’t have a record high output of 13.1 million barrels per day that have made it the world’s largest oil producer and net crude exporter for the first time since 2019.\n\nTwitter exploded after the Journal story about the potential TRC curbs, with comments that ran the gamut, from whether the TRC had the political will for such an act to discussing the appropriate enactments and tools in the regulators’ arsenal for such curbs.\n\n“No action by the TRC can help Texas producers while Texas refiners can import unlimited amounts of oil — especially the grade of oil best suited for the refineries,” tweeted Ed Hirs, Energy Fellow at University of Houston and managing director at Hillhouse Resources, an oil drilling company on the Texas Gulf Coast.\n\nACT ON FLARING COULD BE THE CATALYST\nMany referred to a report on natural gas flaring being prepared by TRC member Ryan Sitton that could become a catalyst for the commission to place curbs on the industry.\n\nGas is a byproduct of crude production and its flaring has become one of the worst side effects of the shale boom in Texas.\n\nAs Bloomberg noted in an interview with Sitton, vast amounts of gas from oil wells in the Permian Basin were being burnt off for lack of pipelines to ship it away. While pressure mounts to curb the practice, a supply glut, depressed U.S. gas prices and the distance from key markets for the heating fuel means the byproduct of crude production has little value for explorers in the state.\n\nNow with oil prices at multi-year lows too, and green groups continuing to target the shale industry for flaring and other environmental concerns, the TRC might feel empowered to act, though the outcome remains uncertain.\n\n“Not even sure quotas will go into effect,” Bob Mc\nNally, president at Rapidan Energy, a Washington-based think-tank, said in a tweet that discussed the merits of Sitton’s flaring report resulting in production quotas for Texan drillers.\n\nStill, the fact that cuts were being considered seriously for the first time since 1972 underscored the point that “it's hard to run the world economy without a swing oil producer,” Mc\nNally said, referring to Saudi Arabia’s abandoning its role as OPEC’s arbiter.\n\nEven if the TRC doesn’t act, drillers might self-police to protect themselves, said John Kilduff, founding partner at New York energy hedge fund Again Capital.\n\n“We’re going to see a new level of capex cuts and production discipline that could amaze us,” Kilduff told Investing.com.\n\n> “It’s the only choice drillers across the U.S. have: cut or go bankrupt.”\nData from Haynes and Boone’s Oilfield Services Bankruptcy Tracker showed there were six new bankruptcies in the oilfield services area in Q4 2019.\n\nUp until now in 2020, Pioneer Energy Services has been the only major oilfield services company to enter Chapter 11 bankruptcy. But many others, like Chesapeake Energy (NYSE:CHK) and Whiting Petroleum (NYSE:WLL) were already carrying heavy debt burdens before this month’s 55% drop in crude prices.\n\nCAPEX AND RIG CUTS ARE COMING\nNow, several exploration and production companies in the U.S. energy space have started moving in the right direction.\n\nLast week, Pioneer, one of the leading producers in the Permian Basin of Texas and New Mexico, said it was running a series of models to decide next steps.\n\nDiamondback Energy (NASDAQ:FANG) cut its activity from nine completion crews to six, dropping two more completion crews than scheduled. The shale producer said it will also cut capital spending, though it hasn’t specified an amount.\n\nParsley Energy (NYSE:PE) said it has slashed its 2020 free cash flow outlook to at least $85 million from a prior view of at least $200 million, and announced a general activity slowdown as well.\n\nEOG Resources (NYSE:EOG) also plans to curb spending to protect return to its shareholder dividend, and will release details later.\n\nOn Thursday,Continental Resources (NYSE:CLR), a pioneer driller in the Bakken field that straddles Montana and North and South Dakota, said it will cut its 2020 capital budget by $1.2 billion, a 55% reduction from its $2.65 billion.\n\nContinental also announced something else that might make an immediate impact on the market — a cut in the number of active oil rigs it ran.\n\nThe company said it will reduce its average rig count in the Bakken to 3 from 9 currently, and in Oklahoma to 4 from 10.5.\n\nThe U.S. oil rig count — a trusted indicator of production, even if lagged — is down 152 or 18% year-on-year. But it’s still up 367 or 116% from May 2016 — when U.S. crude last traded at $26 per barrel, not far from where it settled Thursday.\n\n“We might be back down to the 300 levels on the rig count over the next six weeks,” said Kildfuff. “Look out for it.” \n <center>[Original Post](https://www.investing.com/analysis/in-a-coronavirus-world-texas-thinks-less-oil-will-be-better-200517580)</center>",
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}phasewalkerupvoted (1.00%) @petrovanalytics / news-7onjapjh8h-vkj8hk58gk2020/03/20 07:51:51
phasewalkerupvoted (1.00%) @petrovanalytics / news-7onjapjh8h-vkj8hk58gk
2020/03/20 07:51:51
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2020/03/20 07:36:57
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2020/03/20 07:36:27
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2020/03/20 07:36:21
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2020/03/20 07:36:09
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| permlink | innerhive-re-petrovanalyticsnews-7onjapjh8h-vkj8hk58gk |
| title | |
| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please [follow @innerhive on twitter](https://twitter.com/innerhive) for more information. |
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innerhiveupvoted (0.01%) @petrovanalytics / news-7onjapjh8h-vkj8hk58gk
2020/03/20 07:36:09
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}petrovanalyticspublished a new post: news-7onjapjh8h-vkj8hk58gk2020/03/20 07:36:03
petrovanalyticspublished a new post: news-7onjapjh8h-vkj8hk58gk
2020/03/20 07:36:03
| parent author | |
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| permlink | news-7onjapjh8h-vkj8hk58gk |
| title | Dividend-Growth Stocks Offer Buying Opportunity Through Recession |
| body | The S&P 500’s 30% plunge in the past month, the fastest in the stock market history, has created buying opportunities for both retail and wealthy investors. Some of the world’s wealthiest people have spent more than $1 billion combined to boost their stakes in companies as markets around the world tanked amid the coronavirus pandemic, according to a report in Bloomberg. S&P 500 Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pic3a195f389b9cedfd1e0f444670f5d1ed.png S&P 500 Weekly Price Chart Activist investor Carl Icahn increased his holdings in Hertz Global Holdings (NYSE:HTZ) and Newell Brands (NASDAQ:NWL), while Warren Buffett’s holding company added shares of Delta Air Lines (NYSE:DAL), according to regulatory filings. These corporate executives will have their own reasons for buying these stocks in which they already own large shareholdings, but the field is also open for small investors who want to take a long-term approach to their investing. TESTED STRATEGY One tested strategy to take advantage of this massive readjustment in markets is to buy the shares of companies that are cash rich, have a history of dealing with recessions and pay regular dividends. In other words, buying solid dividend-growth stocks is one of the safest ways to play this weakness for risk-averse investors. The companies to focus in this category are those which have at least boosted their dividends in each of the last 10 years, the ones known as “dividend aristocrats.” These stocks have beaten the broader market and outperformed those stocks that simply have a high dividend yield, according to a recent note by Credit Suisse. “Dividend aristocrats have outperformed the market by 12% over the last 3 years. The group has also strongly outperformed a simple strategy of buying just high yielding stocks,” the note said. Let’s take the example of health-care stocks that are considered defensive because health insurers, pharmaceutical companies and medical-device makers generally perform better in times of economic uncertainty. Medtronic (NYSE:MDT) is one such stock which is well-positioned to not only beat the market in this downturn, but also provides good sustainable returns. Medtronic is a less well known healthcare stock that we like due to the company’s strong market position and its hefty payouts. The world’s biggest medical device maker controls 50% of the global pacemaker market. It’s also a leader in products that assist with spinal surgeries and diabetes care. No matter in which direction the economy goes, stocks like Medtronic will continue to churn out cash. The company has a long-term strategy to pay out 50% of its free cash flow to shareholders as dividends. The company pays $0.54 a share quarterly payout, with an annual dividend yield of 2.9%. During the past 5 years, the average dividends per share growth rate was 12.90% per year. The shares closed yesterday's session at $79.22. Medtronic Weekly Price Chart https://d1-invdn-com.akamaized.net/content/picff2aad9c222fc44fb4386436e6579336.png Medtronic Weekly Price Chart Coca-Cola Company (NYSE:KO), the world’s largest beverage company, is another solid dividend growth stock. The company owns or licenses more than 500 soft drinks including sodas, bottled water, juices and iced teas, sells its products in more than 200 countries and has 21 individual brands that generate $1 billion or more in annual sales such as Sprite, Minute Maid and Fuze Tea. It's also the market leader across a number of its core product categories. The company has been able to increase its dividend for 56 years in a row. That's more than enough proof of the strength of the brand as well as the company’s ability to perform during recessions, market downturns and changing consumer preferences. Coca-Cola Weekly Price Chart https://d1-invdn-com.akamaized.net/content/picc54ac41d428a5d555dbf73fd0e75133d.png Coca-Cola Weekly Price Chart Earlier this year, Coca-Cola boosted its annual dividend by 2.5% to $1.64 a share. The stock closed yesterday at $41.83. With an annual dividend yield of 3.66%, KO shares are ideal for those who want to earn growing dividends and have a long-term investment horizon. Bottom Line Healthcare and consumer staple stocks, such as KO and Medtronic, are dividend growth stocks that could outperform the broader market if we’re in for a deep recession in 2020. Diversifying your portfolio with defensive stocks that pay regularly growing dividends is always a good strategy in times of economic turmoil. <center>[Original Post](https://www.investing.com/analysis/dividendgrowth-stocks-offer-a-buying-opportunity-in-a-recession-200517577)</center> |
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"body": "The S&P 500’s 30% plunge in the past month, the fastest in the stock market history, has created buying opportunities for both retail and wealthy investors.\n\nSome of the world’s wealthiest people have spent more than $1 billion combined to boost their stakes in companies as markets around the world tanked amid the coronavirus pandemic, according to a report in Bloomberg.\n\nS&P 500 Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pic3a195f389b9cedfd1e0f444670f5d1ed.png S&P 500 Weekly Price Chart\n\nActivist investor Carl Icahn increased his holdings in Hertz Global Holdings (NYSE:HTZ) and Newell Brands (NASDAQ:NWL), while Warren Buffett’s holding company added shares of Delta Air Lines (NYSE:DAL), according to regulatory filings.\n\nThese corporate executives will have their own reasons for buying these stocks in which they already own large shareholdings, but the field is also open for small investors who want to take a long-term approach to their investing.\n\nTESTED STRATEGY\nOne tested strategy to take advantage of this massive readjustment in markets is to buy the shares of companies that are cash rich, have a history of dealing with recessions and pay regular dividends. In other words, buying solid dividend-growth stocks is one of the safest ways to play this weakness for risk-averse investors.\n\nThe companies to focus in this category are those which have at least boosted their dividends in each of the last 10 years, the ones known as “dividend aristocrats.” These stocks have beaten the broader market and outperformed those stocks that simply have a high dividend yield, according to a recent note by Credit Suisse.\n\n“Dividend aristocrats have outperformed the market by 12% over the last 3 years. The group has also strongly outperformed a simple strategy of buying just high yielding stocks,” the note said.\n\nLet’s take the example of health-care stocks that are considered defensive because health insurers, pharmaceutical companies and medical-device makers generally perform better in times of economic uncertainty.\n\nMedtronic (NYSE:MDT) is one such stock which is well-positioned to not only beat the market in this downturn, but also provides good sustainable returns.\n\nMedtronic is a less well known healthcare stock that we like due to the company’s strong market position and its hefty payouts. The world’s biggest medical device maker controls 50% of the global pacemaker market. It’s also a leader in products that assist with spinal surgeries and diabetes care.\n\nNo matter in which direction the economy goes, stocks like Medtronic will continue to churn out cash. The company has a long-term strategy to pay out 50% of its free cash flow to shareholders as dividends. The company pays $0.54 a share quarterly payout, with an annual dividend yield of 2.9%. During the past 5 years, the average dividends per share growth rate was 12.90% per year. The shares closed yesterday's session at $79.22.\n\nMedtronic Weekly Price Chart https://d1-invdn-com.akamaized.net/content/picff2aad9c222fc44fb4386436e6579336.png Medtronic Weekly Price Chart\n\nCoca-Cola Company (NYSE:KO), the world’s largest beverage company, is another solid dividend growth stock. The company owns or licenses more than 500 soft drinks including sodas, bottled water, juices and iced teas, sells its products in more than 200 countries and has 21 individual brands that generate $1 billion or more in annual sales such as Sprite, Minute Maid and Fuze Tea. It's also the market leader across a number of its core product categories.\n\nThe company has been able to increase its dividend for 56 years in a row. That's more than enough proof of the strength of the brand as well as the company’s ability to perform during recessions, market downturns and changing consumer preferences.\n\nCoca-Cola Weekly Price Chart https://d1-invdn-com.akamaized.net/content/picc54ac41d428a5d555dbf73fd0e75133d.png Coca-Cola Weekly Price Chart\n\nEarlier this year, Coca-Cola boosted its annual dividend by 2.5% to $1.64 a share. The stock closed yesterday at $41.83. With an annual dividend yield of 3.66%, KO shares are ideal for those who want to earn growing dividends and have a long-term investment horizon.\n\nBottom Line\n\nHealthcare and consumer staple stocks, such as KO and Medtronic, are dividend growth stocks that could outperform the broader market if we’re in for a deep recession in 2020. Diversifying your portfolio with defensive stocks that pay regularly growing dividends is always a good strategy in times of economic turmoil. \n <center>[Original Post](https://www.investing.com/analysis/dividendgrowth-stocks-offer-a-buying-opportunity-in-a-recession-200517577)</center>",
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steemmedia.orgupvoted (100.00%) @petrovanalytics / news-x2zowrz4p7j-t5cl4v76w6f
2020/03/19 19:01:18
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}xyzashuupvoted (100.00%) @petrovanalytics / news-x2zowrz4p7j-t5cl4v76w6f2020/03/19 19:01:12
xyzashuupvoted (100.00%) @petrovanalytics / news-x2zowrz4p7j-t5cl4v76w6f
2020/03/19 19:01:12
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spaminatorflagged (-0.25%) @petrovanalytics / news-x2zowrz4p7j-t5cl4v76w6f
2020/03/19 18:19:21
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2020/03/19 18:18:24
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2020/03/19 18:18:18
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2020/03/19 18:18:09
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| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please [follow @innerhive on twitter](https://twitter.com/innerhive) for more information. |
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}innerhiveupvoted (0.01%) @petrovanalytics / news-x2zowrz4p7j-t5cl4v76w6f2020/03/19 18:18:09
innerhiveupvoted (0.01%) @petrovanalytics / news-x2zowrz4p7j-t5cl4v76w6f
2020/03/19 18:18:09
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}petrovanalyticspublished a new post: news-x2zowrz4p7j-t5cl4v76w6f2020/03/19 18:18:03
petrovanalyticspublished a new post: news-x2zowrz4p7j-t5cl4v76w6f
2020/03/19 18:18:03
| parent author | |
| parent permlink | money |
| author | petrovanalytics |
| permlink | news-x2zowrz4p7j-t5cl4v76w6f |
| title | ECB Bazooka Provides Some Relief |
| body | * SNB keeps rates same * Nikkei -1.04% Dax 1.97% * UST 10 Y 1.17% * Oil $23/bbl * Gold $1484/oz * BTC/USD $5425 Asia and EU * SNB rates at -75bps North America Open * USD Weekly jobless 8:30 CAD ADP Employment Global financial markets settled down a bit with futures trading higher in morning European dealing after ECB came out with a commercial paper facility and basically reassured the markets that it would be a buyer of last resort. The ECB came out with a 750 Billion euro program called Pandemic Emergency Purchase Programme (PEPP) that would essentially serve as a backstop in the credit markets. In its statement, ECB noted, “The Governing Council will do everything necessary within its mandate. The Governing Council is fully prepared to increase the size of its asset purchase programs and adjust their composition, by as much as necessary and for as long as needed. It will explore all options and all contingencies to support the economy through this shock. To the extent that some self-imposed limits might hamper action that the ECB is required to take in order to fulfill its mandate, the Governing Council will consider revising them to the extent necessary to make its action proportionate to the risks that we face. The ECB will not tolerate any risks to the smooth transmission of its monetary policy in all jurisdictions of the euro area.” The news helped stabilize periphery bonds especially the Italian BTPs which saw its yields fall, but the near-universal application if this rule to the whole region regardless of credit quality also saw Greek bonds rally. Overall, this was the minimal necessary step to bring a modicum of calm to the markets after ECB chief Christine Legarde made her faux pas last week by not explicitly supporting stabilizing Italian yields. Still, the response has been less than euphoric as markets continue to worry about the economic fallout from the COVID-19 global lockdown. Today’s German IFO report showed business sentiment at its lowest level since 1991 with forecasters predicting a -6% contraction in Q2 GDP. Meanwhile, the one asset that has been relentlessly bid is the dollar that has appreciated across the board as the demand for safety, as well as financing needs, have pushed the buck to multi-year highs against all the majors. With the dollar shortage so acute in the global financial system, there is now speculation that FX intervention may be next. Certainly, the Trump administration will look askew at the strength of the dollar as it will hamper any possible post-COVID recovery and with some G-11 currencies now trading at all-time lows central banks will look support the exchange rates so a coordinated effort may be the next step. In North America today the market will get its first look at the fallout from the COVID lockdowns as the US Department of Labor will report unemployment claims. Expectations are for a modest bump higher, but that is clearly a function of stale data. The general average has been about 200 K per week, but if today’s number jumps to double that it could put further downward pressure on stocks at the start of the day. <center>[Original Post](https://www.investing.com/analysis/ecb-bazooka-provides-some-relief-200517236)</center> |
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"body": " * SNB keeps rates same\n * Nikkei -1.04% Dax 1.97%\n * UST 10\nY 1.17%\n * Oil $23/bbl\n * Gold $1484/oz\n * BTC/USD $5425\n\nAsia and EU\n\n * SNB rates at -75bps\n\nNorth America Open\n\n * USD Weekly jobless 8:30\nCAD ADP Employment\n\nGlobal financial markets settled down a bit with futures trading higher in morning European dealing after ECB came out with a commercial paper facility and basically reassured the markets that it would be a buyer of last resort.\n\nThe ECB came out with a 750 Billion euro program called Pandemic Emergency Purchase Programme (PEPP) that would essentially serve as a backstop in the credit markets.\n\nIn its statement, ECB noted, “The Governing Council will do everything necessary within its mandate. The Governing Council is fully prepared to increase the size of its asset purchase programs and adjust their composition, by as much as necessary and for as long as needed. It will explore all options and all contingencies to support the economy through this shock.\n\nTo the extent that some self-imposed limits might hamper action that the ECB is required to take in order to fulfill its mandate, the Governing Council will consider revising them to the extent necessary to make its action proportionate to the risks that we face. The ECB will not tolerate any risks to the smooth transmission of its monetary policy in all jurisdictions of the euro area.”\n\nThe news helped stabilize periphery bonds especially the Italian BTPs which saw its yields fall, but the near-universal application if this rule to the whole region regardless of credit quality also saw Greek bonds rally.\n\nOverall, this was the minimal necessary step to bring a modicum of calm to the markets after ECB chief Christine Legarde made her faux pas last week by not explicitly supporting stabilizing Italian yields. Still, the response has been less than euphoric as markets continue to worry about the economic fallout from the COVID-19 global lockdown. Today’s German IFO report showed business sentiment at its lowest level since 1991 with forecasters predicting a -6% contraction in Q2 GDP.\n\nMeanwhile, the one asset that has been relentlessly bid is the dollar that has appreciated across the board as the demand for safety, as well as financing needs, have pushed the buck to multi-year highs against all the majors. With the dollar shortage so acute in the global financial system, there is now speculation that FX intervention may be next. Certainly, the Trump administration will look askew at the strength of the dollar as it will hamper any possible post-COVID recovery and with some G-11 currencies now trading at all-time lows central banks will look support the exchange rates so a coordinated effort may be the next step.\n\nIn North America today the market will get its first look at the fallout from the COVID lockdowns as the US Department of Labor will report unemployment claims. Expectations are for a modest bump higher, but that is clearly a function of stale data. The general average has been about 200\nK per week, but if today’s number jumps to double that it could put further downward pressure on stocks at the start of the day. \n <center>[Original Post](https://www.investing.com/analysis/ecb-bazooka-provides-some-relief-200517236)</center>",
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}filipinoupvoted (10.00%) @petrovanalytics / news-n7acjyzs3la-f2ed3rnqgw72020/03/19 14:31:36
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2020/03/19 14:31:36
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2020/03/19 13:55:18
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2020/03/19 13:54:30
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-n7acjyzs3la-f2ed3rnqgw72020/03/19 13:54:27
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2020/03/19 13:54:21
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| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please see [this post on SteemPeak](https://steempeak.com/communityfork/@hiveio/announcing-the-launch-of-hive-blockchain) for more information. |
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}innerhiveupvoted (0.01%) @petrovanalytics / news-n7acjyzs3la-f2ed3rnqgw72020/03/19 13:54:18
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2020/03/19 13:54:18
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}petrovanalyticspublished a new post: news-n7acjyzs3la-f2ed3rnqgw72020/03/19 13:54:09
petrovanalyticspublished a new post: news-n7acjyzs3la-f2ed3rnqgw7
2020/03/19 13:54:09
| parent author | |
| parent permlink | money |
| author | petrovanalytics |
| permlink | news-n7acjyzs3la-f2ed3rnqgw7 |
| title | As The Market Turmoil Continues, The Greenback Is King |
| body | The U.S. dollar continued outperforming all the other G10 currencies, perhaps as investors appear to be liquidating positions everywhere in favor of holding cash. Equities resumed their tumble and kept trading south, even after major central banks proceeded with more stimulus measures, in their coordinated attempt to rescue the global economy from the effects of the coronavirus. Back to the FX world, Cable slid to territories last seen in 1985, with investors perhaps selling pounds due to the additional risk of Brexit. DOLLAR KEEPS GAINING AS INVESTORS LIQUIDATE EVERYTHING The dollar continued rallying against all the other G10 currencies on Wednesday and during the Asian morning Thursday. It gained the most versus NOK, AUD, NZD and GBP in that order, while it eked out the least gains versus CHF, EUR and JPY. USD performance G10 currencies https://d1-invdn-com.akamaized.net/content/pic968b6a984bb90edccad50c8388747b10.png USD performance G10 currencies The relative strength of the yen the franc and the euro, combined with the weakening of the risk-linked Aussie and Kiwi, suggests that the financial world has turned back to risk off trading. That said, the fact that the dollar outperformed even the traditional safe-havens JPY and CHF, as well as the further tumble in gold, point to what we have said yesterday. Namely, investors appear to be liquating positions everywhere in favor of holding cash, and especially dollars, the world’s reserve currency. Even bond yields were up, as investors abandoned bonds as well. In a leveraged world, this may have been happening in order to cover losses and margin calls in risk assets, like equities. DXY dollar index https://d1-invdn-com.akamaized.net/content/pic54b1dcec96e5720a53ae9f2f6b6d49b7.png DXY dollar index Shifting our attention to the equity world, we see a sea of red. Major EU and US indices turned down again, closing well in the red, with the negative investor morale rolling into the Asian trading today. Both Japan’s Nikkei 225 and China’s Shanghai Composite slid 1.04% and 0.98% respectively. Yesterday morning, we noted that we don’t expect Tuesday’s bounce to continue, adding that since February 20th, we rarely saw two consecutive days of gains in the equity markets. All this comes to confirm that observation. Major global stock indices performance https://d1-invdn-com.akamaized.net/content/pic0d184bebfdfbcddb9d9824902c115191.png Major global stock indices performance Overnight, major central banks proceeded with more stimulus measures, but, apparently, the efforts were once again unsuccessful in calming panicked investors. In out-of-scheduled meetings, the ECB pledged to buy EUR 750bn in bonds through the whole year, while the Fed promised to make loans to banks that offer asset purchased from money market mutual funds as collateral. What’s more, the RBA cut interest rates to a new all-time low of 0.25%, and announced that it will start QE purchases for the first time in its history. The market reaction to the extra stimulus efforts enhances our long-standing view that the worst is not behind us yet. We repeat that with monetary and fiscal easing, consumers have to get out of their homes and start spending, for the engines of the global economy to restart. With the daily infected cases and deaths hitting new records day by day, we see that as a very hard task. Just for the record, only yesterday we had 20584 new infections and 973 new deaths. As for the economic outlook, remember that when everyone was pointing to a temporary impact only in Q1, our call was that the economic wounds could well drag into Q2. It appears that this will be the case, and if any vaccine does not start being distributed to the world soon, the globe could suffer well beyond the first half of the year. Virus absolute change day by day https://d1-invdn-com.akamaized.net/content/picb2f80525430b47a06502b3a7a6533a5b.png Virus absolute change day by day Back to the currencies, the pound was among the main losers, with Cable tumbling well below its 2019 low of 1.1958 and testing territories last seen in 1985. Apart from the broader dollar strength, investors and traders may have been abandoning the pound as the last thing they would like to do at the moment, is holding assets with extra risk, and the extra risk related to the pound is Brexit and the transition-period negotiations. It seems that pound traders were quick to erase from their memory the 50bps cut by the Bo E and the large fiscal stimulus package announced by Chancellor Rishi Sunak. GBP/USD Cable Monthly https://d1-invdn-com.akamaized.net/content/pic66efd92d1396c787011766c97da5f8ed.png GBP/USD Cable Monthly Overall, we maintain the view that equities have not hit a bottom yet, and that risk-linked currencies will continue tumbling. Given the aforementioned argument, the pound may also be poised for further declines. The safe havens yen, franc and the euro, may continue standing tall, but we would avoid exploiting gains in these currencies against the dollar. Dollar is the king nowadays. Thus, with all that in mind, currency pairs that may be poised to continue sliding at a decent pace are AUD/USD, NZD/USD and GBP/USD, followed by AUD/JPY, NZD/JPY, GBP/JPY, AUD/CHF, NZD/CHF and GBP/CHF. On the other hand, EUR/AUD and EUR/NZD may keep trending north. AUD/USD – TECHNICAL OUTLOOK AUD/USD took a deep dive yesterday, which led to not only a drop below the psychological 0.6000 mark, but also below the lowest point of 2008, at around 0.6009. The pair found support near the 0.5510 zone and this morning we are seeing a strong rebound, which may continue moving closer to the short-term tentative downside resistance line taken from the high of March 11th. However, as long as that downside line stays intact, we will remain bearish, at least in the short run. If AUD/USD continues its current correction and goes above 0.5700 barrier, which is yesterday’s low, this may lead the rate closer to the 0.5815 zone, marked by this morning’s high, or even to the aforementioned downside line. If one of those areas provides decent resistance, the pair could slide again, possibly moving all the way back to the current low of today, at 0.5510. If the sellers are not willing to calm down there, a break of that 0.5510 territory will confirm a forthcoming lower low and clear the way to the lowest point of September 2002, at 0.5393. Alternatively, if the rate accelerates higher, breaks the previously-mentioned downside line and pushes above the 0.6026 barrier, which is yesterday’s high, that’s when we will consider some higher levels, at least in the near term. AUD/USD might then drift to the 0.6184 hurdle, a break of which could set the stage for a test of the 0.6300 level, marked by the low of March 9th and the high of March 15th. AUD/USD 4-hour chart technical analysis https://d1-invdn-com.akamaized.net/content/picc97a8c090f01b5b370fd81a0d46e5e9e.png AUD/USD 4-hour chart technical analysis GBP/USD – TECHNICAL OUTLOOK Given the sharp sell-off which we saw yesterday, GBP/USD fell not only below the lowest point of 2016, at 1.1980, but also below last year’s low, at 1.1958. The pair travelled all the way to the 1.1450 zone, where it found support and rebounded. The rate continues to trade below a short-term tentative downside resistance line taken from the high of March 11th. Even if we could see a bit of correction to the upside, as long as that downside line stays intact, we will remain bearish. If GBP/USD suddenly makes a move back above this morning’s high, at 1.1661, this may lead to a slightly bigger correction higher. However, if the pair struggles to break the aforementioned downside line, this could attract the sellers back into the game, who could send GBP/USD lower again. We will once again target the 1.1450 area, a break of which would confirm a forthcoming lower low and the next possible support area might be around 1.1240, marked by the highest point of February 1985. On the other hand, if the rate rushes through that downside line and breaks above the 1.1980 barrier, which is the lowest point of 2016, this could invite a few extra buyers into the arena. Such a move could help GBP/USD to travel back to the 1.2129 obstacle, or even the 1.2273 territory, marked by the high of March 17th. If the buying doesn’t stop there, the next potential resistance area to consider could be around the 1.2421 level, marked by the high of March 16th. GBP/USD 4-hour chart technical analysis https://d1-invdn-com.akamaized.net/content/pic198ddb7b503d0e2ed878539ce76370b8.png GBP/USD 4-hour chart technical analysis AS FOR THE REST OF TODAY’S EVENTS During the European session, the central bank torch will be passed to the Norges Bank and the SNB. When they last met, Norwegian policymakers kept interest rates untouched at +1.50% and noted that the policy rate will remain at the present level in the coming period. However, last week inflation data disappointed largely, with the headline rate tumbling to +0.9% yoy from +1.8%, and the core one sliding to +2.1% yoy from +2.9%. Norway CPIs inflation https://d1-invdn-com.akamaized.net/content/picdf1e40197017165dcdf8274b15303f8f.png Norway CPIs inflation With central banks worldwide easing their respective policies in order to prevent a global recession due to the effects of the coronavirus, a slump in Norwegian inflation may come as an extra reason for policymakers to follow through, especially after the sharp tumble in oil prices. Passing the ball to the SNB, this may be the only central bank which is unlikely to ease this week. Having the lowest interest rate globally, at -0.75%, the Bank may prefer to fight the virus crisis by intervening in the FX market in order to prevent the franc from keep strengthening, especially with the currency attracting haven flows recently. Another reason we don’t expect the SNB to touch interest rates is because the ECB refrained from doing so. The Bank may just adopt a more dovish language and strengthen its intervention signals. As for the rest of the day, the only releases worth to mention are the initial jobless claims for last week, which are expected to have risen to 220k from 211k, and the US Philly Fed manufacturing index, which is forecast to have declined to 10.0 from 36.7. Daily Market Review: As the Market Turmoil Continues, the Greenback is King <center>[Original Post](https://www.investing.com/analysis/as-the-market-turmoil-continues-the-greenback-is-king-200517230)</center> |
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"title": "As The Market Turmoil Continues, The Greenback Is King",
"body": "The U.S. dollar continued outperforming all the other G10 currencies, perhaps as investors appear to be liquidating positions everywhere in favor of holding cash. Equities resumed their tumble and kept trading south, even after major central banks proceeded with more stimulus measures, in their coordinated attempt to rescue the global economy from the effects of the coronavirus. Back to the FX world, Cable slid to territories last seen in 1985, with investors perhaps selling pounds due to the additional risk of Brexit.\n\nDOLLAR KEEPS GAINING AS INVESTORS LIQUIDATE EVERYTHING\n\nThe dollar continued rallying against all the other G10 currencies on Wednesday and during the Asian morning Thursday. It gained the most versus NOK, AUD, NZD and GBP in that order, while it eked out the least gains versus CHF, EUR and JPY.\n\nUSD performance G10 currencies https://d1-invdn-com.akamaized.net/content/pic968b6a984bb90edccad50c8388747b10.png USD performance G10 currencies\n\nThe relative strength of the yen the franc and the euro, combined with the weakening of the risk-linked Aussie and Kiwi, suggests that the financial world has turned back to risk off trading. That said, the fact that the dollar outperformed even the traditional safe-havens JPY and CHF, as well as the further tumble in gold, point to what we have said yesterday. Namely, investors appear to be liquating positions everywhere in favor of holding cash, and especially dollars, the world’s reserve currency. Even bond yields were up, as investors abandoned bonds as well. In a leveraged world, this may have been happening in order to cover losses and margin calls in risk assets, like equities.\n\nDXY dollar index https://d1-invdn-com.akamaized.net/content/pic54b1dcec96e5720a53ae9f2f6b6d49b7.png DXY dollar index\n\nShifting our attention to the equity world, we see a sea of red. Major EU and US indices turned down again, closing well in the red, with the negative investor morale rolling into the Asian trading today. Both Japan’s Nikkei 225 and China’s Shanghai Composite slid 1.04% and 0.98% respectively. Yesterday morning, we noted that we don’t expect Tuesday’s bounce to continue, adding that since February 20th, we rarely saw two consecutive days of gains in the equity markets. All this comes to confirm that observation.\n\nMajor global stock indices performance https://d1-invdn-com.akamaized.net/content/pic0d184bebfdfbcddb9d9824902c115191.png Major global stock indices performance\n\nOvernight, major central banks proceeded with more stimulus measures, but, apparently, the efforts were once again unsuccessful in calming panicked investors. In out-of-scheduled meetings, the ECB pledged to buy EUR 750bn in bonds through the whole year, while the Fed promised to make loans to banks that offer asset purchased from money market mutual funds as collateral. What’s more, the RBA cut interest rates to a new all-time low of 0.25%, and announced that it will start QE purchases for the first time in its history.\n\nThe market reaction to the extra stimulus efforts enhances our long-standing view that the worst is not behind us yet. We repeat that with monetary and fiscal easing, consumers have to get out of their homes and start spending, for the engines of the global economy to restart. With the daily infected cases and deaths hitting new records day by day, we see that as a very hard task. Just for the record, only yesterday we had 20584 new infections and 973 new deaths. As for the economic outlook, remember that when everyone was pointing to a temporary impact only in Q1, our call was that the economic wounds could well drag into Q2. It appears that this will be the case, and if any vaccine does not start being distributed to the world soon, the globe could suffer well beyond the first half of the year.\n\nVirus absolute change day by day https://d1-invdn-com.akamaized.net/content/picb2f80525430b47a06502b3a7a6533a5b.png Virus absolute change day by day\n\nBack to the currencies, the pound was among the main losers, with Cable tumbling well below its 2019 low of 1.1958 and testing territories last seen in 1985. Apart from the broader dollar strength, investors and traders may have been abandoning the pound as the last thing they would like to do at the moment, is holding assets with extra risk, and the extra risk related to the pound is Brexit and the transition-period negotiations. It seems that pound traders were quick to erase from their memory the 50bps cut by the Bo\nE and the large fiscal stimulus package announced by Chancellor Rishi Sunak.\n\nGBP/USD Cable Monthly https://d1-invdn-com.akamaized.net/content/pic66efd92d1396c787011766c97da5f8ed.png GBP/USD Cable Monthly\n\nOverall, we maintain the view that equities have not hit a bottom yet, and that risk-linked currencies will continue tumbling. Given the aforementioned argument, the pound may also be poised for further declines. The safe havens yen, franc and the euro, may continue standing tall, but we would avoid exploiting gains in these currencies against the dollar. Dollar is the king nowadays. Thus, with all that in mind, currency pairs that may be poised to continue sliding at a decent pace are AUD/USD, NZD/USD and GBP/USD, followed by AUD/JPY, NZD/JPY, GBP/JPY, AUD/CHF, NZD/CHF and GBP/CHF. On the other hand, EUR/AUD and EUR/NZD may keep trending north.\n\nAUD/USD – TECHNICAL OUTLOOK\n\nAUD/USD took a deep dive yesterday, which led to not only a drop below the psychological 0.6000 mark, but also below the lowest point of 2008, at around 0.6009. The pair found support near the 0.5510 zone and this morning we are seeing a strong rebound, which may continue moving closer to the short-term tentative downside resistance line taken from the high of March 11th. However, as long as that downside line stays intact, we will remain bearish, at least in the short run.\n\nIf AUD/USD continues its current correction and goes above 0.5700 barrier, which is yesterday’s low, this may lead the rate closer to the 0.5815 zone, marked by this morning’s high, or even to the aforementioned downside line. If one of those areas provides decent resistance, the pair could slide again, possibly moving all the way back to the current low of today, at 0.5510. If the sellers are not willing to calm down there, a break of that 0.5510 territory will confirm a forthcoming lower low and clear the way to the lowest point of September 2002, at 0.5393.\n\nAlternatively, if the rate accelerates higher, breaks the previously-mentioned downside line and pushes above the 0.6026 barrier, which is yesterday’s high, that’s when we will consider some higher levels, at least in the near term. AUD/USD might then drift to the 0.6184 hurdle, a break of which could set the stage for a test of the 0.6300 level, marked by the low of March 9th and the high of March 15th.\n\nAUD/USD 4-hour chart technical analysis https://d1-invdn-com.akamaized.net/content/picc97a8c090f01b5b370fd81a0d46e5e9e.png AUD/USD 4-hour chart technical analysis\n\nGBP/USD – TECHNICAL OUTLOOK\n\nGiven the sharp sell-off which we saw yesterday, GBP/USD fell not only below the lowest point of 2016, at 1.1980, but also below last year’s low, at 1.1958. The pair travelled all the way to the 1.1450 zone, where it found support and rebounded. The rate continues to trade below a short-term tentative downside resistance line taken from the high of March 11th. Even if we could see a bit of correction to the upside, as long as that downside line stays intact, we will remain bearish.\n\nIf GBP/USD suddenly makes a move back above this morning’s high, at 1.1661, this may lead to a slightly bigger correction higher. However, if the pair struggles to break the aforementioned downside line, this could attract the sellers back into the game, who could send GBP/USD lower again. We will once again target the 1.1450 area, a break of which would confirm a forthcoming lower low and the next possible support area might be around 1.1240, marked by the highest point of February 1985.\n\nOn the other hand, if the rate rushes through that downside line and breaks above the 1.1980 barrier, which is the lowest point of 2016, this could invite a few extra buyers into the arena. Such a move could help GBP/USD to travel back to the 1.2129 obstacle, or even the 1.2273 territory, marked by the high of March 17th. If the buying doesn’t stop there, the next potential resistance area to consider could be around the 1.2421 level, marked by the high of March 16th.\n\nGBP/USD 4-hour chart technical analysis https://d1-invdn-com.akamaized.net/content/pic198ddb7b503d0e2ed878539ce76370b8.png GBP/USD 4-hour chart technical analysis\n\nAS FOR THE REST OF TODAY’S EVENTS\n\nDuring the European session, the central bank torch will be passed to the Norges Bank and the SNB. When they last met, Norwegian policymakers kept interest rates untouched at +1.50% and noted that the policy rate will remain at the present level in the coming period. However, last week inflation data disappointed largely, with the headline rate tumbling to +0.9% yoy from +1.8%, and the core one sliding to +2.1% yoy from +2.9%.\n\nNorway CPIs inflation https://d1-invdn-com.akamaized.net/content/picdf1e40197017165dcdf8274b15303f8f.png Norway CPIs inflation\n\nWith central banks worldwide easing their respective policies in order to prevent a global recession due to the effects of the coronavirus, a slump in Norwegian inflation may come as an extra reason for policymakers to follow through, especially after the sharp tumble in oil prices.\n\nPassing the ball to the SNB, this may be the only central bank which is unlikely to ease this week. Having the lowest interest rate globally, at -0.75%, the Bank may prefer to fight the virus crisis by intervening in the FX market in order to prevent the franc from keep strengthening, especially with the currency attracting haven flows recently. Another reason we don’t expect the SNB to touch interest rates is because the ECB refrained from doing so. The Bank may just adopt a more dovish language and strengthen its intervention signals.\n\nAs for the rest of the day, the only releases worth to mention are the initial jobless claims for last week, which are expected to have risen to 220k from 211k, and the US Philly Fed manufacturing index, which is forecast to have declined to 10.0 from 36.7.\n\nDaily Market Review: As the Market Turmoil Continues, the Greenback is King \n <center>[Original Post](https://www.investing.com/analysis/as-the-market-turmoil-continues-the-greenback-is-king-200517230)</center>",
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spaminatorflagged (-0.50%) @petrovanalytics / news-1gh706fm2mg-5901mfxazal
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2020/03/19 09:36:27
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-1gh706fm2mg-5901mfxazal2020/03/19 09:36:24
steemcleanerflagged (-0.08%) @petrovanalytics / news-1gh706fm2mg-5901mfxazal
2020/03/19 09:36:24
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2020/03/19 09:36:12
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| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please see [this post on SteemPeak](https://steempeak.com/communityfork/@hiveio/announcing-the-launch-of-hive-blockchain) for more information. |
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}innerhiveupvoted (0.01%) @petrovanalytics / news-1gh706fm2mg-5901mfxazal2020/03/19 09:36:09
innerhiveupvoted (0.01%) @petrovanalytics / news-1gh706fm2mg-5901mfxazal
2020/03/19 09:36:09
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}petrovanalyticspublished a new post: news-1gh706fm2mg-5901mfxazal2020/03/19 09:36:03
petrovanalyticspublished a new post: news-1gh706fm2mg-5901mfxazal
2020/03/19 09:36:03
| parent author | |
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| permlink | news-1gh706fm2mg-5901mfxazal |
| title | U.S. Initial Jobless Claims: Volatility Event Or Non-Event? |
| body | U.S. Initial Jobless Claimsdata will be released on Thursday March 19 at 8:30 am ET. A sharp increase could send the VIXspiking higher and the SPXplummeting lower. US Initial Jobless Claims https://d1-invdn-com.akamaized.net/content/pic798a15557fdbd85a9a2ec17d9de10479.png US Initial Jobless Claims The ATR, MOM and ROC indicators (shown with an input value of one period in histogram format) on the VIX daily chart below indicate that the velocity of upward momentum and daily volatility range is slowing somewhat. That could accelerate dramatically if the claims spike higher than is forecast. CBOE Volatility Index - Daily Chart https://d1-invdn-com.akamaized.net/content/pic69818515f0f4b664077a63e72603d027.png CBOE Volatility Index - Daily Chart The VIX pivot point support and resistance values/targets for Thursday are: VIX Pivot Point https://d1-invdn-com.akamaized.net/content/picc73f858741fb76a1fad90b3f3e5128a4.jpg VIX Pivot Point The ATR,MOMand ROCindicators (shown with aninput valueofone periodinhistogram format) on the SPX daily chartbelow indicate that the velocityof downward momentum and daily volatility range isslowing somewhat. That could accelerate dramatically if the claims spike higher than is forecast. S&P 500 Daily Chart https://d1-invdn-com.akamaized.net/content/pic201d4903ab53ee58996029c45455f11b.png S&P 500 Daily Chart The SPX pivot pointsupport and resistancevalues/targetsfor Thursdayare: SPX Pivot Point https://d1-invdn-com.akamaized.net/content/pic700327e57fa41336ab5d55cf443010b1.png SPX Pivot Point <center>[Original Post](https://www.investing.com/analysis/us-initial-jobless-claims-volatility-event-or-nonevent-200517228)</center> |
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"title": "U.S. Initial Jobless Claims: Volatility Event Or Non-Event?",
"body": "U.S. Initial Jobless Claimsdata will be released on Thursday March 19 at 8:30 am ET.\n\nA sharp increase could send the VIXspiking higher and the SPXplummeting lower.\n\nUS Initial Jobless Claims https://d1-invdn-com.akamaized.net/content/pic798a15557fdbd85a9a2ec17d9de10479.png US Initial Jobless Claims\n\nThe ATR, MOM and ROC indicators (shown with an input value of one period in histogram format) on the VIX daily chart below indicate that the velocity of upward momentum and daily volatility range is slowing somewhat.\n\nThat could accelerate dramatically if the claims spike higher than is forecast.\n\nCBOE Volatility Index - Daily Chart https://d1-invdn-com.akamaized.net/content/pic69818515f0f4b664077a63e72603d027.png CBOE Volatility Index - Daily Chart\n\nThe VIX pivot point support and resistance values/targets for Thursday are:\n\nVIX Pivot Point https://d1-invdn-com.akamaized.net/content/picc73f858741fb76a1fad90b3f3e5128a4.jpg VIX Pivot Point\n\nThe\nATR,MOMand\nROCindicators (shown with aninput valueofone periodinhistogram format) on the\nSPX daily chartbelow indicate that the velocityof downward momentum and daily volatility range isslowing somewhat.\n\nThat could accelerate dramatically if the claims spike higher than is forecast.\n\nS&P 500 Daily Chart https://d1-invdn-com.akamaized.net/content/pic201d4903ab53ee58996029c45455f11b.png S&P 500 Daily Chart\n\nThe\nSPX pivot pointsupport and resistancevalues/targetsfor\nThursdayare:\n\nSPX Pivot Point https://d1-invdn-com.akamaized.net/content/pic700327e57fa41336ab5d55cf443010b1.png SPX Pivot Point \n <center>[Original Post](https://www.investing.com/analysis/us-initial-jobless-claims-volatility-event-or-nonevent-200517228)</center>",
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}sharesupvoted (5.00%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj2020/03/19 09:04:42
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2020/03/19 09:04:42
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}yeheyupvoted (10.00%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj2020/03/19 09:04:39
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spaminatorflagged (-0.50%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj
2020/03/19 08:01:09
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2020/03/19 08:00:33
| parent author | petrovanalytics |
| parent permlink | news-h6okab3fg4w-5mveyy7yjfj |
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| permlink | innerhive-re-petrovanalyticsnews-h6okab3fg4w-5mveyy7yjfj |
| title | |
| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please see [this post on SteemPeak](https://steempeak.com/communityfork/@hiveio/announcing-the-launch-of-hive-blockchain) for more information. |
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}innerhiveupvoted (0.01%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj2020/03/19 08:00:33
innerhiveupvoted (0.01%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj
2020/03/19 08:00:33
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2020/03/19 08:00:27
| parent author | petrovanalytics |
| parent permlink | news-h6okab3fg4w-5mveyy7yjfj |
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| permlink | steemcleaner-re-petrovanalyticsnews-h6okab3fg4w-5mveyy7yjfj |
| title | |
| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj2020/03/19 08:00:24
steemcleanerflagged (-0.08%) @petrovanalytics / news-h6okab3fg4w-5mveyy7yjfj
2020/03/19 08:00:24
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}petrovanalyticspublished a new post: news-h6okab3fg4w-5mveyy7yjfj2020/03/19 08:00:06
petrovanalyticspublished a new post: news-h6okab3fg4w-5mveyy7yjfj
2020/03/19 08:00:06
| parent author | |
| parent permlink | money |
| author | petrovanalytics |
| permlink | news-h6okab3fg4w-5mveyy7yjfj |
| title | Big Oil’s Dividends Come Under Threat As Prices Collapse |
| body | Following the recent, rapid collapse in oil prices, the world has suddenly changed dramatically for the largest oil companies in the U.S. and their investors. Triggered by what looks like the perfect geopolitical storm, the coronavirus pandemic and the price war between Saudi Arabia and Russia, the next danger lurking ahead for big oil is a cut to their previously rock-solid dividends. And, looking at their dividend yields, it seems the market is already pricing in that possibility. Shares of Exxon Mobil (NYSE:XOM), which have plummeted 45% in the last month, and Chevron (NYSE:CVX), down 50%, are now yielding more than 9%. Exxon shares closed yesterday's session down 10% at $33.12, while Chevron dropped 22% to close at $55.05. Exxon Mobil Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pice16fa50ee84e126fc2337586892cb45b.png Exxon Mobil Weekly Price Chart Royal Dutch Shell (NYSE:RDSa), the Anglo-Dutch giant that hasn’t cut payments to shareholders since the Second World War, has seen its 12-month dividend surge to 13% of its current share price. Its shares have fallen 57% in the past four weeks. BP (NYSE:BP) offers a yield of 13.3% after its stock lost 55% since mid-February. And, as yet, there's no indication that this will stabilize any time soon. Crude oil prices have accelerated their descent with no sign that the bottom is near. U.S. crude prices plunged to their lowest levels in 18 years yesterday, as governments worldwide introduced new travel restrictions and the Saudi-Russian price war intensified. West Texas Intermediate futures—the main U.S. crude gauge—dropped 24% to $20.37 a barrel, hitting their lowest level since February 2002. Brent crude, the global benchmark, fell 13% to $24.88 a barrel, its lowest level since May 2003. EXTREME LEVEL OF DISTRESS While the yield on oil stocks is already showing an extreme level of financial distress, it’s hard to predict which producers will ultimately take the dangerous route of cutting their sacred payouts — many of which have endured numerous downturns and even survived the financial crisis of 2008. Exxon Mobil CEO Darren Woods said at the company's investor day on March 5 that Exxon is “committed to a reliable and growing dividend.” The company has increased the payout each year for the past 37 years. Chevron’s CEO Mike Wirth also reiterated recently that the integrated energy producer is on track to raise its annual, per-share payout for the 33rd time in 2020. Chevron Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pic7ee2690a28fbf37f481db5e2a02e10c8.png Chevron Weekly Price Chart Assuming that some of these payouts are safe for the time being, the first major action these oil majors can take to deal with this massive price shock is to rerun to the 2014 playbook, when they drastically reduced their spending and discontinued share buyback plans. Exxon said on Monday it’s partially reversing course on an ambitious spending program and weighing significant cuts after its credit rating was downgraded by S&P Global Ratings. Chevron said last week that it’s considering options for cutting capital spending and curbing short-term production. BP Chief Financial Officer Brian Gilvary said the British energy major could shrink spending by as much as 20% this year. But according to some analysts, if the price of oil stays around $35 a barrel, even dividends may not be spared. Market expectations for Big Oil dividends have been reduced over the past two weeks, pricing in a 37% cut from 2019 dividends for European majors in 2021. “In past oil downturns, Big Oil on aggregate did not respond to challenging macro conditions through material dividend cuts,” Goldman Sachs analysts said in a note, adding that they do not expect a cut because of the current environment. Bottom Line There is no doubt that oil majors are in a very tough spot after the sudden plunge in oil prices. They don’t have many options at their disposal with which to deal with this demand shock other than cutting spending and preserving cash. At that same time, it’s highly risky to bet on their swelling dividend yields and potential future payouts. Nothing looks sacred as long as the Saudi-Russian price war continues. <center>[Original Post](https://www.investing.com/analysis/big-oils-dividends-come-under-threat-as-prices-collapse-200517212)</center> |
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"body": "Following the recent, rapid collapse in oil prices, the world has suddenly changed dramatically for the largest oil companies in the U.S. and their investors. Triggered by what looks like the perfect geopolitical storm, the coronavirus pandemic and the price war between Saudi Arabia and Russia, the next danger lurking ahead for big oil is a cut to their previously rock-solid dividends.\n\nAnd, looking at their dividend yields, it seems the market is already pricing in that possibility. Shares of Exxon Mobil (NYSE:XOM), which have plummeted 45% in the last month, and Chevron (NYSE:CVX), down 50%, are now yielding more than 9%. Exxon shares closed yesterday's session down 10% at $33.12, while Chevron dropped 22% to close at $55.05.\n\nExxon Mobil Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pice16fa50ee84e126fc2337586892cb45b.png Exxon Mobil Weekly Price Chart\n\nRoyal Dutch Shell (NYSE:RDSa), the Anglo-Dutch giant that hasn’t cut payments to shareholders since the Second World War, has seen its 12-month dividend surge to 13% of its current share price. Its shares have fallen 57% in the past four weeks. BP (NYSE:BP) offers a yield of 13.3% after its stock lost 55% since mid-February.\n\nAnd, as yet, there's no indication that this will stabilize any time soon. Crude oil prices have accelerated their descent with no sign that the bottom is near. U.S. crude prices plunged to their lowest levels in 18 years yesterday, as governments worldwide introduced new travel restrictions and the Saudi-Russian price war intensified.\n\nWest Texas Intermediate futures—the main U.S. crude gauge—dropped 24% to $20.37 a barrel, hitting their lowest level since February 2002. Brent crude, the global benchmark, fell 13% to $24.88 a barrel, its lowest level since May 2003.\n\nEXTREME LEVEL OF DISTRESS\nWhile the yield on oil stocks is already showing an extreme level of financial distress, it’s hard to predict which producers will ultimately take the dangerous route of cutting their sacred payouts — many of which have endured numerous downturns and even survived the financial crisis of 2008.\n\nExxon Mobil CEO Darren Woods said at the company's investor day on March 5 that Exxon is “committed to a reliable and growing dividend.” The company has increased the payout each year for the past 37 years.\n\nChevron’s CEO Mike Wirth also reiterated recently that the integrated energy producer is on track to raise its annual, per-share payout for the 33rd time in 2020.\n\nChevron Weekly Price Chart https://d1-invdn-com.akamaized.net/content/pic7ee2690a28fbf37f481db5e2a02e10c8.png Chevron Weekly Price Chart\n\nAssuming that some of these payouts are safe for the time being, the first major action these oil majors can take to deal with this massive price shock is to rerun to the 2014 playbook, when they drastically reduced their spending and discontinued share buyback plans.\n\nExxon said on Monday it’s partially reversing course on an ambitious spending program and weighing significant cuts after its credit rating was downgraded by S&P Global Ratings. Chevron said last week that it’s considering options for cutting capital spending and curbing short-term production. BP Chief Financial Officer Brian Gilvary said the British energy major could shrink spending by as much as 20% this year.\n\nBut according to some analysts, if the price of oil stays around $35 a barrel, even dividends may not be spared. Market expectations for Big Oil dividends have been reduced over the past two weeks, pricing in a 37% cut from 2019 dividends for European majors in 2021.\n\n“In past oil downturns, Big Oil on aggregate did not respond to challenging macro conditions through material dividend cuts,” Goldman Sachs analysts said in a note, adding that they do not expect a cut because of the current environment.\n\nBottom Line\n\nThere is no doubt that oil majors are in a very tough spot after the sudden plunge in oil prices. They don’t have many options at their disposal with which to deal with this demand shock other than cutting spending and preserving cash.\n\nAt that same time, it’s highly risky to bet on their swelling dividend yields and potential future payouts. Nothing looks sacred as long as the Saudi-Russian price war continues. \n <center>[Original Post](https://www.investing.com/analysis/big-oils-dividends-come-under-threat-as-prices-collapse-200517212)</center>",
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}spaminatorflagged (-0.25%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai2020/03/19 05:37:21
spaminatorflagged (-0.25%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai
2020/03/19 05:37:21
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}felixkwtupvoted (100.00%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai2020/03/19 05:36:45
felixkwtupvoted (100.00%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai
2020/03/19 05:36:45
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2020/03/19 05:36:18
| parent author | petrovanalytics |
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| author | steemcleaner |
| permlink | steemcleaner-re-petrovanalyticsnews-9qrw8sglqsp-7xtlu2888ai |
| title | |
| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai2020/03/19 05:36:15
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2020/03/19 05:36:15
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2020/03/19 05:36:06
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| permlink | innerhive-re-petrovanalyticsnews-9qrw8sglqsp-7xtlu2888ai |
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| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please see [this post on SteemPeak](https://steempeak.com/communityfork/@hiveio/announcing-the-launch-of-hive-blockchain) for more information. |
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}innerhiveupvoted (0.01%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai2020/03/19 05:36:06
innerhiveupvoted (0.01%) @petrovanalytics / news-9qrw8sglqsp-7xtlu2888ai
2020/03/19 05:36:06
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}petrovanalyticspublished a new post: news-9qrw8sglqsp-7xtlu2888ai2020/03/19 05:36:00
petrovanalyticspublished a new post: news-9qrw8sglqsp-7xtlu2888ai
2020/03/19 05:36:00
| parent author | |
| parent permlink | money |
| author | petrovanalytics |
| permlink | news-9qrw8sglqsp-7xtlu2888ai |
| title | Asia Session: Cash Is King As Mass Liquidation Disrupts Markets |
| body | My days increasingly begin with the phrase “where do I start?” Jumping in: it is clear that the dislocation of pricing across forex, oil and precious metals markets overnight, is pointing to mass liquidation and a move to hoarding cash. Bond yields reinforced the point, with European and American bond yields racing higher as a mass culling on bond holdings took place. It got so bad with Italian government bonds, that at one point, that the European System of Central Banks (ESCB), intervened directly via the Bank of Italy, to restore order.It was also evident where that hoarded cash was being directed. Short-term Treasury bills – sub-three months – fell to near zero per cent yields, even as long-dated bond yields climbed into the stratosphere. The U.S. Dollar swept all before as petro-currencies were crushed under the tank tracks. The same fate awaited many emerging markets and the AUD and NZD, which have sunk to previously unimaginable multi-year lows. The UK sterling has taken out its Brexit lows, sinking to 1985 lows, but probably feels like an Orwellian 1984. The Bank of Korea has already been sighted intervening by selling U.S. dollars against the won this morning. Anyone wondering where the central bank helicopter money is, need only look up in the sky and listen. Like a pimped up scene from Apocalypse Now, the sky is dark with central bank helicopters whose sling hooks are full with bags of cash. The Federal Reserve announced it had restarted its GFC-era commercial paper programme to the tune of $300 billion initially. Emphasis on initially. Qualifying corporates can sell their commercial paper directly to the Fed in return for cash. The ECB announced overnight, a gigantic EUR 750 billion bond-buying programmes that also includes qualifying corporate debt. It also removed its 30% ownership cap on a single country’s sovereign bonds within Europe. The ECB will be very long peripheral Europe by the time this is over. Not to be outdone, the Bank of England announced its own commercial paper facility. The BOE is prepared to buy commercial paper from UK-based corporates in potentially unlimited amounts for as long as it takes, taking pressure of the banking sector. Now, that’s a helicopter. The U.S finally seems to be getting its act together. The White House and the U.S. Senate have passed the first House of Representative stimulus bills with more to come. The President has also invoked the Defense Production Act, which allows him to direct companies in the U.S. to produce what he tells them to. No one should be under any illusion of the scale of the power that the U.S. can deploy in this crisis once it gets it act together. Therein lies the alcohol rub though. For some reason the House is in recess this week, meaning any follow-up legislation will have to wait, just when speed is needed. It appears that poor decision making is not limited to the White House and Senate. Nevertheless, from all corners of the developed world, the machinery of fiscal and monetary policy is ramping up production at a frenzied rate, loadings money into the fleets of helicopters, ready to rain down on their economies. It is unlikely to be the last production cycle, but at least it's a start. My prediction is at the very least, most of the world’s aviation industry, airlines or production, will be either nationalized, have majority government ownership, or will be on governmental life support before all this is over. Some iconic names may never return. Today in Asia, central banks will also be busy. The Reserve Bank of Australia should shortly announce another rate cut to 0.25% with some sort of QE programme attached. The central banks of Indonesia, Taiwan and the Philippines all meet today, and universally, I expect them all to cut rates. Unfortunately, it will come just as pressure on their currencies reaches a frenzied level, but it will be the lesser of two evils. Overall, yesterday looked like a mass capitulation trade across most markets. Unfortunately, I suspect that capitulation trade will be a multi-day one, with the end result being markets trading sideways at their lows for an extended period. Fantasies of V and U-shaped recoveries should be left in children’s storybooks for now. EQUITIES Notably, the Philippines Stock Exchange has reopened today, and has already fallen 20%. Circuit breaker stop included. The rest of Asia is also suffering, notably the KOSPI, down 6.50%, Jakarta down 5.0%, Taiwan down 5.0% and Hong Kong, down 4.0%. The rest of Asia is not immune with the Nikkei 225 lower by 2.0%, the Shanghai Composite by 2.15% and the CSI 300 by 1.20%. The authorities there are almost certainly “in the market,” easing losses. Australia and New Zealand equities seem to be gleaning some support from the collapse in their currencies, but the ASX 200 is still down 2.25%, and the NZD 50 by 2.85%. The impending rate cuts across the region are unlikely to be supportive, even in the short-term, for regional equities. The rush to cash will swamp any attempts at rallies for now. CURRENCIES The currency market exploded into life for all the wrong reasons overnight. Mass capitulation in equity, commodity and bond markets saw the U.S explode as investors globally rushed into U.S. cash and short-dated bills. Only the euro showed any sort of resistance, as fund managers repatriated euros from across the globe. But it still fell 0.80% to 1.0900. Commonwealth currencies were singled out for particular attention. The Bo E’s unlimited helicopter money and speculation of a population lockdown in London saw sterling collapse to Brexit-vote lows. GBP/USD fell 3.70% to 1.1600. GBP/USD may have more pain ahead with the UK’s government perceived internationally, as having taken a woefully incorrect strategy in managing coronavirus. Time will tell. The Australian and New Zealand Dollars both fell by over 3.0% overnight, hitting multi-year lows. The rot continues today, with the AUD/USD falling another 4.25% to 0.5530, a level not seen since 2003. The 2002 lows at 0.4800 are now not out of the question. The NZD/USD meanwhile, has collapsed by 4.40% to 0.5490, with its brief GFC lows at 0.4900 the next obvious target. I have serious doubts that we will see those levels, however. The reason is that AUD/NZD has collapsed to 1.0060 today, touching the fabled 1.0000 overnight. Being short AUDNZD below 1.0200 in all of history has been a guaranteed death knell. For that reason alone, being short AUD, and to a lesser extent the NZD, at these levels is dangerous from past history. We may indeed see more capitulation flows in both over the next few days, but traders should be very nimble indeed if they are short. The recovery higher during the GFC was gruesome, and I would not bet against history repeating itself. Petro-currencies such as the NOK, RUB, MXN and CAD were all cremated overnight as oil plunged to new lows. The outsized pain experienced by them is likely to continue as Saudi Arabia and Russia settle in for an extended price war as the world economy drops into recession. You couldn’t make this up. Asian currencies have faded today as the USD/CNY hits 7.1000, still a modest fall when compared to the carnage elsewhere. While the PBOC will ensure the yuan remains a bastion of calm in a chaotic world, regional currencies are much more vulnerable. Most notably, the Indonesian rupiah, Korean won, and Philippines peso remain firmly in the centre of investors crosshairs, all falling over 1.0% today with the Bank of Korea seen intervening already. I wouldn’t be surprised to see Philippines markets close again as quickly as they reopened, and this time, stay closed. We have not seen the end of the capitulation trade yet, and as such, the U.S. dollar will see more strength over the coming days. OIL Panic set in in oil markets overnight, with WTI collapsing by a gigantic 17.0% to $22.60, an 18-year low. Brent crude fared little better, tumbling by 8.0$ to $26.50 a barrel. The outsized fall by WTI reflects the news that onshore storage for excess oil supplies is running out around the world, amid the general capitulation trade. The fact that the world is running out of onshore and floating storage has left oil falling again today in Asia. Brent falling 5.0% to $25.00 a barrel, and WTI falling 2.50% to $22.00 a barrel. With a global recession upon us, with an indeterminate end, and a price war in full cry by oil producers, the world should probably be preparing itself for sub $20.00 oil sooner rather than later. If I were to be asked where the next strong support for oil is, I would point out the WTI has multi-year technical support at $10.00 a barrel. Enjoy. GOLD Gold was swept up yet again, in the global rush to cash as other asset classes from bonds to equities were sold in a disorderly manner. Gold fell $41 dollars, or 2.70%, to $1486.00 an ounce overnight. That sell-off continues this morning as mass liquidation continues across most asset classes. Gold falling 0.90%to $1472.50 in Asian trading thus far. If mass liquidation in other asset classes continues, gold will also likely see any rallies nullified, as investors desperately sell any liquid assets to raise cash. The charts suggest that gold has settled into a wide but real $1450.00 to $1550.00 an ounce range. However, we cannot rule out further extensions to $1400.00 an ounce in this environment. Maybe even lower still. Until we see concrete evidence that the global rout in equities and bonds has eased, picking the bottom of gold prices will probably be an unrewarding occupation. Taken in context, gold is only back to November 2019 levels, quite a startling fact. That means that it will remain a favorite liquidation asset for long-term traders looking for cash. Given its relatively modest fall in the grander scale of time, it is possible that gold could trade even as low as $1300.00 an ounce before fundamentals reassert themselves with a vengeance. Original post <center>[Original Post](https://www.investing.com/analysis/asia-session-cash-is-king-central-banks-bring-in-the-helicopters-200517197)</center> |
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"body": "My days increasingly begin with the phrase “where do I start?” Jumping in: it is clear that the dislocation of pricing across forex, oil and precious metals markets overnight, is pointing to mass liquidation and a move to hoarding cash. Bond yields reinforced the point, with European and American bond yields racing higher as a mass culling on bond holdings took place. It got so bad with Italian government bonds, that at one point, that the European System of Central Banks (ESCB), intervened directly via the Bank of Italy, to restore order.It was also evident where that hoarded cash was being directed. Short-term Treasury bills – sub-three months – fell to near zero per cent yields, even as long-dated bond yields climbed into the stratosphere. The U.S. Dollar swept all before as petro-currencies were crushed under the tank tracks. The same fate awaited many emerging markets and the AUD and NZD, which have sunk to previously unimaginable multi-year lows. The UK sterling has taken out its Brexit lows, sinking to 1985 lows, but probably feels like an Orwellian 1984. The Bank of Korea has already been sighted intervening by selling U.S. dollars against the won this morning.\n\nAnyone wondering where the central bank helicopter money is, need only look up in the sky and listen. Like a pimped up scene from Apocalypse Now, the sky is dark with central bank helicopters whose sling hooks are full with bags of cash. The Federal Reserve announced it had restarted its GFC-era commercial paper programme to the tune of $300 billion initially. Emphasis on initially. Qualifying corporates can sell their commercial paper directly to the Fed in return for cash.\n\nThe ECB announced overnight, a gigantic EUR 750 billion bond-buying programmes that also includes qualifying corporate debt. It also removed its 30% ownership cap on a single country’s sovereign bonds within Europe. The ECB will be very long peripheral Europe by the time this is over.\n\nNot to be outdone, the Bank of England announced its own commercial paper facility. The BOE is prepared to buy commercial paper from UK-based corporates in potentially unlimited amounts for as long as it takes, taking pressure of the banking sector. Now, that’s a helicopter.\n\nThe U.S finally seems to be getting its act together. The White House and the U.S. Senate have passed the first House of Representative stimulus bills with more to come. The President has also invoked the Defense Production Act, which allows him to direct companies in the U.S. to produce what he tells them to. No one should be under any illusion of the scale of the power that the U.S. can deploy in this crisis once it gets it act together. Therein lies the alcohol rub though. For some reason the House is in recess this week, meaning any follow-up legislation will have to wait, just when speed is needed. It appears that poor decision making is not limited to the White House and Senate.\n\nNevertheless, from all corners of the developed world, the machinery of fiscal and monetary policy is ramping up production at a frenzied rate, loadings money into the fleets of helicopters, ready to rain down on their economies. It is unlikely to be the last production cycle, but at least it's a start. My prediction is at the very least, most of the world’s aviation industry, airlines or production, will be either nationalized, have majority government ownership, or will be on governmental life support before all this is over. Some iconic names may never return.\n\nToday in Asia, central banks will also be busy. The Reserve Bank of Australia should shortly announce another rate cut to 0.25% with some sort of QE programme attached. The central banks of Indonesia, Taiwan and the Philippines all meet today, and universally, I expect them all to cut rates. Unfortunately, it will come just as pressure on their currencies reaches a frenzied level, but it will be the lesser of two evils.\n\nOverall, yesterday looked like a mass capitulation trade across most markets. Unfortunately, I suspect that capitulation trade will be a multi-day one, with the end result being markets trading sideways at their lows for an extended period. Fantasies of V and U-shaped recoveries should be left in children’s storybooks for now.\n\nEQUITIES\nNotably, the Philippines Stock Exchange has reopened today, and has already fallen 20%. Circuit breaker stop included. The rest of Asia is also suffering, notably the KOSPI, down 6.50%, Jakarta down 5.0%, Taiwan down 5.0% and Hong Kong, down 4.0%.\n\nThe rest of Asia is not immune with the Nikkei 225 lower by 2.0%, the Shanghai Composite by 2.15% and the CSI 300 by 1.20%. The authorities there are almost certainly “in the market,” easing losses. Australia and New Zealand equities seem to be gleaning some support from the collapse in their currencies, but the ASX 200 is still down 2.25%, and the NZD 50 by 2.85%.\n\nThe impending rate cuts across the region are unlikely to be supportive, even in the short-term, for regional equities. The rush to cash will swamp any attempts at rallies for now.\n\nCURRENCIES\nThe currency market exploded into life for all the wrong reasons overnight. Mass capitulation in equity, commodity and bond markets saw the U.S explode as investors globally rushed into U.S. cash and short-dated bills. Only the euro showed any sort of resistance, as fund managers repatriated euros from across the globe. But it still fell 0.80% to 1.0900.\n\nCommonwealth currencies were singled out for particular attention. The Bo\nE’s unlimited helicopter money and speculation of a population lockdown in London saw sterling collapse to Brexit-vote lows. GBP/USD fell 3.70% to 1.1600. GBP/USD may have more pain ahead with the UK’s government perceived internationally, as having taken a woefully incorrect strategy in managing coronavirus. Time will tell.\n\nThe Australian and New Zealand Dollars both fell by over 3.0% overnight, hitting multi-year lows. The rot continues today, with the AUD/USD falling another 4.25% to 0.5530, a level not seen since 2003. The 2002 lows at 0.4800 are now not out of the question. The NZD/USD meanwhile, has collapsed by 4.40% to 0.5490, with its brief GFC lows at 0.4900 the next obvious target. I have serious doubts that we will see those levels, however.\n\nThe reason is that AUD/NZD has collapsed to 1.0060 today, touching the fabled 1.0000 overnight. Being short AUDNZD below 1.0200 in all of history has been a guaranteed death knell. For that reason alone, being short AUD, and to a lesser extent the NZD, at these levels is dangerous from past history. We may indeed see more capitulation flows in both over the next few days, but traders should be very nimble indeed if they are short. The recovery higher during the GFC was gruesome, and I would not bet against history repeating itself.\n\nPetro-currencies such as the NOK, RUB, MXN and CAD were all cremated overnight as oil plunged to new lows. The outsized pain experienced by them is likely to continue as Saudi Arabia and Russia settle in for an extended price war as the world economy drops into recession. You couldn’t make this up.\n\nAsian currencies have faded today as the USD/CNY hits 7.1000, still a modest fall when compared to the carnage elsewhere. While the PBOC will ensure the yuan remains a bastion of calm in a chaotic world, regional currencies are much more vulnerable. Most notably, the Indonesian rupiah, Korean won, and Philippines peso remain firmly in the centre of investors crosshairs, all falling over 1.0% today with the Bank of Korea seen intervening already. I wouldn’t be surprised to see Philippines markets close again as quickly as they reopened, and this time, stay closed.\n\nWe have not seen the end of the capitulation trade yet, and as such, the U.S. dollar will see more strength over the coming days.\n\nOIL\nPanic set in in oil markets overnight, with WTI collapsing by a gigantic 17.0% to $22.60, an 18-year low. Brent crude fared little better, tumbling by 8.0$ to $26.50 a barrel. The outsized fall by WTI reflects the news that onshore storage for excess oil supplies is running out around the world, amid the general capitulation trade.\n\nThe fact that the world is running out of onshore and floating storage has left oil falling again today in Asia. Brent falling 5.0% to $25.00 a barrel, and WTI falling 2.50% to $22.00 a barrel.\n\nWith a global recession upon us, with an indeterminate end, and a price war in full cry by oil producers, the world should probably be preparing itself for sub $20.00 oil sooner rather than later. If I were to be asked where the next strong support for oil is, I would point out the WTI has multi-year technical support at $10.00 a barrel. Enjoy.\n\nGOLD\nGold was swept up yet again, in the global rush to cash as other asset classes from bonds to equities were sold in a disorderly manner. Gold fell $41 dollars, or 2.70%, to $1486.00 an ounce overnight. That sell-off continues this morning as mass liquidation continues across most asset classes. Gold falling 0.90%to $1472.50 in Asian trading thus far.\n\nIf mass liquidation in other asset classes continues, gold will also likely see any rallies nullified, as investors desperately sell any liquid assets to raise cash. The charts suggest that gold has settled into a wide but real $1450.00 to $1550.00 an ounce range. However, we cannot rule out further extensions to $1400.00 an ounce in this environment. Maybe even lower still.\n\nUntil we see concrete evidence that the global rout in equities and bonds has eased, picking the bottom of gold prices will probably be an unrewarding occupation. Taken in context, gold is only back to November 2019 levels, quite a startling fact. That means that it will remain a favorite liquidation asset for long-term traders looking for cash. Given its relatively modest fall in the grander scale of time, it is possible that gold could trade even as low as $1300.00 an ounce before fundamentals reassert themselves with a vengeance.\n\nOriginal post \n <center>[Original Post](https://www.investing.com/analysis/asia-session-cash-is-king-central-banks-bring-in-the-helicopters-200517197)</center>",
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}filipinoupvoted (10.00%) @petrovanalytics / news-k3tyccm6fy-gb79kwudcws2020/03/18 21:31:36
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2020/03/18 21:31:36
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}spaminatorflagged (-0.25%) @petrovanalytics / news-k3tyccm6fy-gb79kwudcws2020/03/18 20:36:54
spaminatorflagged (-0.25%) @petrovanalytics / news-k3tyccm6fy-gb79kwudcws
2020/03/18 20:36:54
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2020/03/18 20:36:39
| parent author | petrovanalytics |
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| body | https://i.imgur.com/CBqCEo5.png<br><br>Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.<br><br>Please see [this post on SteemPeak](https://steempeak.com/communityfork/@hiveio/announcing-the-launch-of-hive-blockchain) for more information. |
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}innerhiveupvoted (0.01%) @petrovanalytics / news-k3tyccm6fy-gb79kwudcws2020/03/18 20:36:36
innerhiveupvoted (0.01%) @petrovanalytics / news-k3tyccm6fy-gb79kwudcws
2020/03/18 20:36:36
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2020/03/18 20:36:24
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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"body": "Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!\nIf you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ).",
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-k3tyccm6fy-gb79kwudcws2020/03/18 20:36:21
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}petrovanalyticspublished a new post: news-k3tyccm6fy-gb79kwudcws2020/03/18 20:36:03
petrovanalyticspublished a new post: news-k3tyccm6fy-gb79kwudcws
2020/03/18 20:36:03
| parent author | |
| parent permlink | money |
| author | petrovanalytics |
| permlink | news-k3tyccm6fy-gb79kwudcws |
| title | Oil Prices Slide And Drag Down NOK And CAD |
| body | EU and US equity markets rebounded yesterday on announcements of fiscal stimulus packages from Spain and the US. The FOMC also took further measures to fight the effects of the coronavirus, noting that it will be purchasing short-term corporate bonds. That said, Asian bourses traded in the red today as the coronavirus new cases and deaths hit records yesterday. With regards to the FX world, NOK and CAD were the big losers, feeling the heat of tumbling oil prices. WHITE HOUSE PLANS DIRECT PAYMENTS TO AMERICANS The dollar traded higher against all the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained the most versus NOK, CAD and AUD in that order, while it gained the least versus JPY and CHF. USD performance G10 currencies https://d1-invdn-com.akamaized.net/content/picd117b3d20573c2777ad41289f818c3c1.png USD performance G10 currencies The relative strength of the yen and the franc suggests a risk-off trading, while the slide in the krone and the Loonie suggests that oil prices kept tumbling. Although the latter is correct, the former conclusion is not that right. Yes, most Asian bourses closed in the red today, but major EU and US indices were a sea of green yesterday. European shares were boosted by the Spanish Prime Minister’s announcement with regards to a EUR 200bn stimulus package, with IBEX 35 surging 6.46%, while in the US, Wall Street indices rallied as the Fed and the White House proceeded with further measures in order to inject more liquidity and ease the effects of the fast-spreading coronavirus. Major Global stock indices performance https://d1-invdn-com.akamaized.net/content/picd5636d1336dcb502352a01c0de2b9a3a.png Major Global stock indices performance Specifically, the FOMC decided to purchase short-term corporate bonds in an attempt to help companies to keep paying their employees and buy supplies. This comes after several rescue attempts by the Fed, including the latest 100bps rate cut and the decision to restart US Treasury purchases. With regards to the government’s measures, the White House announced it is seeking a stimulus package worth between USD 850bn and USD 1.0tn. Potentially, USD 250bn will be directed to Americans via checks, and this could happen in the next couple of weeks. Having said all that though, the joy did not last for long as Asian indices turned south and the reason may have been once again the fact that the virus continues to spread at a fast pace. Both cases and deaths returned to acceleration mode yesterday, while in absolute numbers, they hit daily records. Namely, on Tuesday, we had 15740 new cases and 817 new deaths. Virus percentage and absolute change in cases and deaths on a day by day basis https://d1-invdn-com.akamaized.net/content/pice4a7e3c89478591cd75bef41c4be2dc4.png Virus percentage and absolute change in cases and deaths on a day by day basis As for our view, we stick to our guns that consumers are unlikely to opt for cheap loans and get out of their homes to start spending. With the virus spreading around the globe at an exponential pace, even with helicopter money, people may prefer to stay home and save the money, perhaps considering it as compensation for their lost salaries. Thus, we don’t expect the latest bounce to continue. It was even halted during the Asian morning today. Since February 20th, we rarely saw two consecutive days of gains in the equity markets, and all the aforementioned suggests that we have not hit a bottom yet, especially with no virus-vaccine on the horizon. Now, in case the opposite happens, where people and businesses start spending, this could lead a sharp rise in inflation, which would put central banks between a rock and a hard place. Their dilemma will be: Do we increase rates to avoid hyperinflation, or do we keep them low in order to save our battered economies from falling into recession? In our view, with most central banks cutting rates aggressively at the moment, we believe that they are either not prepared for such an outcome, or they just decided that they will prioritize saving growth over curbing inflation. DAX – TECHNICAL OUTLOOK As the global indices continue to slide, DAX is joining forces with them in their journey south. This week, after finding support near the 8234 hurdle, the German index rebounded somewhat. However, looking at the daily chart of our DAX cash index, the price remains under bear pressure, as it is still trading below a very steep downside resistance line drawn from the high of March 5th. Although we are bearish overall, we would first like to see a break of the latest low, at 8234, before aiming for further declines. As mentioned above, a break below that 8234 zone would confirm a forthcoming lower low and the move may clear the way to some even lower levels. The next area to consider might be the 8087 obstacle, marked by the lowest point of August 2013. If the slide continues, the next support level, which could get tested, may be at 7729, marked by the lowest point of July 2013. Alternatively, if the aforementioned downside line breaks and the price climbs above the 9169 hurdle, or even the 9369 barrier, marked by the highest point of this week, we may see a larger correction to the upside. This could temporarily attract more buyers into the arena, possibly helping DAX to move towards the 9997 zone, a break of which could send the index to the 10417 level, marked by the high of March 12th. DAX cash index daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pic070eb4fe5851ed8351368e8c9fb3a800.png DAX cash index daily chart technical analysis OIL PRICES SLIDE, DRAGGING NOK AND CAD WITH THEM Now back to the currencies, the dollar may have benefited from the White House announcement, but also because investors are liquidating positions everywhere in favor of holding cash. Remember yesterday we noted that even gold, which is usually considered a safe haven, has been in a tumbling mode, as holders of the precious metal liquidate their long positions to cover losses and margin calls elsewhere. The Norwegian Krone and the Canadian dollar have been the main losers among the G10s, and this may have been owed to the tumbling oil prices. Both Brent and WTI fell 4.03% and 6.17% yesterday, on fears that the restrictive measures adopted for fighting the coronavirus will hurt energy demand even further, as well as due to the price war that has broken after the collapse of an agreement between OPEC and major non-OPEC members to curb supply further. Iraq’s oil minister called for an emergency meeting between producers in order to discuss immediate action for balancing the market. However, the hard stance of Saudi Arabia and Russia makes the case of finding common ground soon a very hard task. This means that with what we have in hand now, oil prices are likely to keep falling, dragging the Loonie and the Krone with them. USD/CAD – TECHNICAL OUTLOOK USD/CAD has rallied strongly this week, due to falling oil prices and the turbulence in the equity markets. After hitting the resistance level at 1.4276 yesterday, the pair retraced a bit. The rate continues to trade above a short-term upside support line taken from the low of March 6th. Although USD/CAD looks quite overbought, given the current market circumstances, it may drift a bit further north, especially if it clears the yesterday’s high. We will take a cautiously-bullish approach for now. A break above yesterday’s high, at 1.4276, would confirm a forthcoming higher high and more buyers could be joining in. The pair might then get a boost to the 1.4325 zone, which is the high of January 26th, 2016. If the buying doesn’t stop there and the rate breaks that hurdle, the next target could be around the 1.4432 level, marked by the inside swing low of January 19th, 2016. On the other hand, if USD/CAD starts sliding and drops below the current low of today, at 1.4166, this could make the bulls worry temporarily, as the move may increase the pair’s chances of drifting a bit lower for a larger correction. That’s when we will target the 1.4018 obstacle, a break of which may send the rate to the 1.3960 level, marked by the low of March 17th. Around there, USD/CAD could also test the aforementioned upside line, which might provide additional support. USD/CAD 4-hour chart technical analysis https://d1-invdn-com.akamaized.net/content/piccd52c066f8819409d99e938b6777eebc.png USD/CAD 4-hour chart technical analysis AS FOR TODAY’S EVENTS Under normal circumstances, we would have had an FOMC policy decision, but following the 100bps cut late Sunday/early Monday, Fed Chair Powell announced that the Committee will not proceed with this week’s scheduled meeting. The same may apply for the Bo J’s gathering during the Asian morning Thursday. As for the data, during the European morning today, we get Eurozone’s final CPIs for February and as it is always the case, they are expected to confirm their preliminary estimates, namely that the headline rate slid to +1.2% yoy from +1.4%, while the core rate ticked up to +1.2% yoy from +1.1%. From the US, we get building permits and housing starts for February, with the forecasts suggesting small declines, while from Canada, we have the CPIs for February. The headline CPI is anticipated to have slowed to +2.1% yoy from +2.4%, while no forecast is available for the core rate, which stood at +1.8% yoy in January. Under normal circumstances, this would have allowed Bo C policymakers to stay away from the cut button, but bearing in mind that central banks are now acting to support the wounded global economy that is hit by the effects of the coronavirus outbreak, we cannot rule out another bold action by the Bo C, perhaps outside a scheduled meeting as well. Canada CPIs inflation https://d1-invdn-com.akamaized.net/content/pic09d4d94bbc46a63a25aba52e182925cd.png Canada CPIs inflation With regards to the energy market, the EIA (Energy Information Administration) report on crude oil inventories is coming out and the forecast points to a 1.963mn barrels slide, from a 6.404mn decrease the week before. However, bearing that the API report yesterday revealed a much smaller slide (-0.421mn), we see the risks surrounding the EIA forecast as tilted to the upside. As for tonight, during the Asian morning Thursday, we have Australia’s employment report for February. The unemployment rate is expected to have stayed unchanged at 5.3%, well above the 4.5% threshold which the RBA believes it will start generating inflationary pressures, while the employment change is forecast to show that the economy has gained less jobs than it did in January. Specifically, it is expected to reveal 10k new jobs, down from the 13.5k print in January. At their latest meeting, RBA officials decided to cut interest rates by 25bps, to a new record low of 0.5%, with Governor Philip Lowe saying in the post-meeting statement that the coronavirus was having a “significant” impact on the domestic economy and that it’s hard to assess how large the effects will be. In the statement, it was also repeated that officials “remain prepared to ease monetary policy further to support the Australian economy”. According to the ASX 30-day interbank cash rate futures yield curve, investors expect officials to push the cut button again at the April meeting, and a soft employment report may just seal the deal. ASX 30-day interbank cash rate futures implied yield curve https://d1-invdn-com.akamaized.net/content/pic3abfb5f5414855fb6dc5d9b14ae0b7aa.png ASX 30-day interbank cash rate futures implied yield curve New Zealand’s GDP for Q4 is also due to be released. The forecast is for the qoq rate to have declined to +0.5% from +0.7%, but this will drive the yoy one up to +2.4% from 2.3%. With all other major central banks easing their policy in order to safeguard the global economy from the coronavirus crisis, the RBNZ was no exception, kickstarting this week’s easing chorus with an emergency 75bps rate reduction, noting that the economic outlook has “deteriorated significantly”. Officials also added that the rate will stay at 0.25% at least for 12 months, meaning that there are no more cuts on the horizon. That said, they agreed that should further stimulus be required, a large-scale asset purchase program would be preferable. With all that in mind, we don’t believe that data referring to a period before the virus outbreak would alter that view and thus, they may not prove the market mover they usually are. We prefer to wait for data concerning the first quarter of 2020, as these numbers may prove determinant over to whether the RBNZ will proceed with QE. Daily Market Review: US Seems Ready for “Helicopter Money”, NOK and CAD Slide Alongside Oil <center>[Original Post](https://www.investing.com/analysis/us-seems-ready-for-helicopter-money-nok-and-cad-slide-alongside-oil-200516882)</center> |
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"body": "EU and US equity markets rebounded yesterday on announcements of fiscal stimulus packages from Spain and the US. The FOMC also took further measures to fight the effects of the coronavirus, noting that it will be purchasing short-term corporate bonds. That said, Asian bourses traded in the red today as the coronavirus new cases and deaths hit records yesterday. With regards to the FX world, NOK and CAD were the big losers, feeling the heat of tumbling oil prices.\n\nWHITE HOUSE PLANS DIRECT PAYMENTS TO AMERICANS\n\nThe dollar traded higher against all the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained the most versus NOK, CAD and AUD in that order, while it gained the least versus JPY and CHF.\n\nUSD performance G10 currencies https://d1-invdn-com.akamaized.net/content/picd117b3d20573c2777ad41289f818c3c1.png USD performance G10 currencies\n\nThe relative strength of the yen and the franc suggests a risk-off trading, while the slide in the krone and the Loonie suggests that oil prices kept tumbling. Although the latter is correct, the former conclusion is not that right. Yes, most Asian bourses closed in the red today, but major EU and US indices were a sea of green yesterday. European shares were boosted by the Spanish Prime Minister’s announcement with regards to a EUR 200bn stimulus package, with IBEX 35 surging 6.46%, while in the US, Wall Street indices rallied as the Fed and the White House proceeded with further measures in order to inject more liquidity and ease the effects of the fast-spreading coronavirus.\n\nMajor Global stock indices performance https://d1-invdn-com.akamaized.net/content/picd5636d1336dcb502352a01c0de2b9a3a.png Major Global stock indices performance\n\nSpecifically, the FOMC decided to purchase short-term corporate bonds in an attempt to help companies to keep paying their employees and buy supplies. This comes after several rescue attempts by the Fed, including the latest 100bps rate cut and the decision to restart US Treasury purchases. With regards to the government’s measures, the White House announced it is seeking a stimulus package worth between USD 850bn and USD 1.0tn. Potentially, USD 250bn will be directed to Americans via checks, and this could happen in the next couple of weeks.\n\nHaving said all that though, the joy did not last for long as Asian indices turned south and the reason may have been once again the fact that the virus continues to spread at a fast pace. Both cases and deaths returned to acceleration mode yesterday, while in absolute numbers, they hit daily records. Namely, on Tuesday, we had 15740 new cases and 817 new deaths.\n\nVirus percentage and absolute change in cases and deaths on a day by day basis https://d1-invdn-com.akamaized.net/content/pice4a7e3c89478591cd75bef41c4be2dc4.png Virus percentage and absolute change in cases and deaths on a day by day basis\n\nAs for our view, we stick to our guns that consumers are unlikely to opt for cheap loans and get out of their homes to start spending. With the virus spreading around the globe at an exponential pace, even with helicopter money, people may prefer to stay home and save the money, perhaps considering it as compensation for their lost salaries. Thus, we don’t expect the latest bounce to continue. It was even halted during the Asian morning today. Since February 20th, we rarely saw two consecutive days of gains in the equity markets, and all the aforementioned suggests that we have not hit a bottom yet, especially with no virus-vaccine on the horizon.\n\nNow, in case the opposite happens, where people and businesses start spending, this could lead a sharp rise in inflation, which would put central banks between a rock and a hard place. Their dilemma will be: Do we increase rates to avoid hyperinflation, or do we keep them low in order to save our battered economies from falling into recession? In our view, with most central banks cutting rates aggressively at the moment, we believe that they are either not prepared for such an outcome, or they just decided that they will prioritize saving growth over curbing inflation.\n\nDAX – TECHNICAL OUTLOOK\n\nAs the global indices continue to slide, DAX is joining forces with them in their journey south. This week, after finding support near the 8234 hurdle, the German index rebounded somewhat. However, looking at the daily chart of our DAX cash index, the price remains under bear pressure, as it is still trading below a very steep downside resistance line drawn from the high of March 5th. Although we are bearish overall, we would first like to see a break of the latest low, at 8234, before aiming for further declines.\n\nAs mentioned above, a break below that 8234 zone would confirm a forthcoming lower low and the move may clear the way to some even lower levels. The next area to consider might be the 8087 obstacle, marked by the lowest point of August 2013. If the slide continues, the next support level, which could get tested, may be at 7729, marked by the lowest point of July 2013.\n\nAlternatively, if the aforementioned downside line breaks and the price climbs above the 9169 hurdle, or even the 9369 barrier, marked by the highest point of this week, we may see a larger correction to the upside. This could temporarily attract more buyers into the arena, possibly helping DAX to move towards the 9997 zone, a break of which could send the index to the 10417 level, marked by the high of March 12th.\n\nDAX cash index daily chart technical analysis https://d1-invdn-com.akamaized.net/content/pic070eb4fe5851ed8351368e8c9fb3a800.png DAX cash index daily chart technical analysis\n\nOIL PRICES SLIDE, DRAGGING NOK AND CAD WITH THEM\n\nNow back to the currencies, the dollar may have benefited from the White House announcement, but also because investors are liquidating positions everywhere in favor of holding cash. Remember yesterday we noted that even gold, which is usually considered a safe haven, has been in a tumbling mode, as holders of the precious metal liquidate their long positions to cover losses and margin calls elsewhere.\n\nThe Norwegian Krone and the Canadian dollar have been the main losers among the G10s, and this may have been owed to the tumbling oil prices. Both Brent and WTI fell 4.03% and 6.17% yesterday, on fears that the restrictive measures adopted for fighting the coronavirus will hurt energy demand even further, as well as due to the price war that has broken after the collapse of an agreement between OPEC and major non-OPEC members to curb supply further. Iraq’s oil minister called for an emergency meeting between producers in order to discuss immediate action for balancing the market. However, the hard stance of Saudi Arabia and Russia makes the case of finding common ground soon a very hard task. This means that with what we have in hand now, oil prices are likely to keep falling, dragging the Loonie and the Krone with them.\n\nUSD/CAD – TECHNICAL OUTLOOK\n\nUSD/CAD has rallied strongly this week, due to falling oil prices and the turbulence in the equity markets. After hitting the resistance level at 1.4276 yesterday, the pair retraced a bit. The rate continues to trade above a short-term upside support line taken from the low of March 6th. Although USD/CAD looks quite overbought, given the current market circumstances, it may drift a bit further north, especially if it clears the yesterday’s high. We will take a cautiously-bullish approach for now.\n\nA break above yesterday’s high, at 1.4276, would confirm a forthcoming higher high and more buyers could be joining in. The pair might then get a boost to the 1.4325 zone, which is the high of January 26th, 2016. If the buying doesn’t stop there and the rate breaks that hurdle, the next target could be around the 1.4432 level, marked by the inside swing low of January 19th, 2016.\n\nOn the other hand, if USD/CAD starts sliding and drops below the current low of today, at 1.4166, this could make the bulls worry temporarily, as the move may increase the pair’s chances of drifting a bit lower for a larger correction. That’s when we will target the 1.4018 obstacle, a break of which may send the rate to the 1.3960 level, marked by the low of March 17th. Around there, USD/CAD could also test the aforementioned upside line, which might provide additional support.\n\nUSD/CAD 4-hour chart technical analysis https://d1-invdn-com.akamaized.net/content/piccd52c066f8819409d99e938b6777eebc.png USD/CAD 4-hour chart technical analysis\n\nAS FOR TODAY’S EVENTS\n\nUnder normal circumstances, we would have had an FOMC policy decision, but following the 100bps cut late Sunday/early Monday, Fed Chair Powell announced that the Committee will not proceed with this week’s scheduled meeting. The same may apply for the Bo\nJ’s gathering during the Asian morning Thursday.\n\nAs for the data, during the European morning today, we get Eurozone’s final CPIs for February and as it is always the case, they are expected to confirm their preliminary estimates, namely that the headline rate slid to +1.2% yoy from +1.4%, while the core rate ticked up to +1.2% yoy from +1.1%.\n\nFrom the US, we get building permits and housing starts for February, with the forecasts suggesting small declines, while from Canada, we have the CPIs for February. The headline CPI is anticipated to have slowed to +2.1% yoy from +2.4%, while no forecast is available for the core rate, which stood at +1.8% yoy in January. Under normal circumstances, this would have allowed Bo\nC policymakers to stay away from the cut button, but bearing in mind that central banks are now acting to support the wounded global economy that is hit by the effects of the coronavirus outbreak, we cannot rule out another bold action by the Bo\nC, perhaps outside a scheduled meeting as well.\n\nCanada CPIs inflation https://d1-invdn-com.akamaized.net/content/pic09d4d94bbc46a63a25aba52e182925cd.png Canada CPIs inflation\n\nWith regards to the energy market, the EIA (Energy Information Administration) report on crude oil inventories is coming out and the forecast points to a 1.963mn barrels slide, from a 6.404mn decrease the week before. However, bearing that the API report yesterday revealed a much smaller slide (-0.421mn), we see the risks surrounding the EIA forecast as tilted to the upside.\n\nAs for tonight, during the Asian morning Thursday, we have Australia’s employment report for February. The unemployment rate is expected to have stayed unchanged at 5.3%, well above the 4.5% threshold which the RBA believes it will start generating inflationary pressures, while the employment change is forecast to show that the economy has gained less jobs than it did in January. Specifically, it is expected to reveal 10k new jobs, down from the 13.5k print in January.\n\nAt their latest meeting, RBA officials decided to cut interest rates by 25bps, to a new record low of 0.5%, with Governor Philip Lowe saying in the post-meeting statement that the coronavirus was having a “significant” impact on the domestic economy and that it’s hard to assess how large the effects will be. In the statement, it was also repeated that officials “remain prepared to ease monetary policy further to support the Australian economy”. According to the ASX 30-day interbank cash rate futures yield curve, investors expect officials to push the cut button again at the April meeting, and a soft employment report may just seal the deal.\n\nASX 30-day interbank cash rate futures implied yield curve https://d1-invdn-com.akamaized.net/content/pic3abfb5f5414855fb6dc5d9b14ae0b7aa.png ASX 30-day interbank cash rate futures implied yield curve\n\nNew Zealand’s GDP for Q4 is also due to be released. The forecast is for the qoq rate to have declined to +0.5% from +0.7%, but this will drive the yoy one up to +2.4% from 2.3%. With all other major central banks easing their policy in order to safeguard the global economy from the coronavirus crisis, the RBNZ was no exception, kickstarting this week’s easing chorus with an emergency 75bps rate reduction, noting that the economic outlook has “deteriorated significantly”. Officials also added that the rate will stay at 0.25% at least for 12 months, meaning that there are no more cuts on the horizon. That said, they agreed that should further stimulus be required, a large-scale asset purchase program would be preferable. With all that in mind, we don’t believe that data referring to a period before the virus outbreak would alter that view and thus, they may not prove the market mover they usually are. We prefer to wait for data concerning the first quarter of 2020, as these numbers may prove determinant over to whether the RBNZ will proceed with QE.\n\nDaily Market Review: US Seems Ready for “Helicopter Money”, NOK and CAD Slide Alongside Oil \n <center>[Original Post](https://www.investing.com/analysis/us-seems-ready-for-helicopter-money-nok-and-cad-slide-alongside-oil-200516882)</center>",
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}spaminatorflagged (-0.25%) @petrovanalytics / news-2h2gjhin08b-49emogtygbq2020/03/18 14:01:03
spaminatorflagged (-0.25%) @petrovanalytics / news-2h2gjhin08b-49emogtygbq
2020/03/18 14:01:03
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2020/03/18 14:00:27
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| body | Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}steemcleanerflagged (-0.08%) @petrovanalytics / news-2h2gjhin08b-49emogtygbq2020/03/18 14:00:24
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}petrovanalyticspublished a new post: news-2h2gjhin08b-49emogtygbq2020/03/18 14:00:06
petrovanalyticspublished a new post: news-2h2gjhin08b-49emogtygbq
2020/03/18 14:00:06
| parent author | |
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| author | petrovanalytics |
| permlink | news-2h2gjhin08b-49emogtygbq |
| title | Stocks Dive, Bonds Dump – Is The Vicious Cycle Here? |
| body | March 18, 2020 * 10 Y yields surge * Equities limit down * Nikkei -1.68% Dax -3.29% * UST 10 Y 1.19% * Oil $26/bbl * Gold $1498/oz * BTC/USD $5228 Europe and Asia: * No Data North America: * CAD CPI 8:30 * USD Building Permits 8:30 Equity futures were limit down once again in Asian and European trade today as the COVID-19 news remained bleak with worldwide cases approaching 200,000 mark and deaths passing the 7,000 barrier. Governments have struggled to respond to the fast-growing health crisis that is quickly morphing into the greatest threat to the global economy since the Great Depression. With much of the industrialized world on lockdown as authorities try to institute social distancing measures, economic activity has ground to a halt and governments are scrambling to respond with emergency measures that include a hodge-podge of UBI, grants and loans proposals. As we noted yesterday most of these measures will fail miserably as they are way too slow, are generally means based which would require a massive bureaucracy to administer and are not generous enough to stave off the catastrophic drop off in demand. In Europe, the Germans finally appear ready to consider joint debt issuance which is a much-needed change in order to socialize the stimulus benefits across the continent, but whether they go through with the commitment remains to be seen. Meanwhile, there is a very troubling development in the bond market as global yields have surged despite the selloff in stocks. In Italy, the 10 Y BTPs are at 2.90% while in US 10-year yields were as high 1.21% an 11% pop since yesterday. The conventional wisdom is that the selloff in bonds is simply a margin liquidation event as investors scramble for capital, but we suspect that is only part of the story. The massive fiscal spending plans to be put in place along with a sharp drop off in tax revenues are likely creating a crisis of confidence in the sovereign debt market at the absolute worst time possible. If selloffs in equities now lead to a selloff in bonds the global financial markets will enter into a vicious cycle from which they will not be able to recover. Bonds’ primary function during market selloffs is to act as a risk cushion to investor portfolios and if they instead act as yet another deadweight on returns the margin liquidation conditions that we have seen up to now will be nothing compared to will come over the next few days. That is why it is critical for central bank authorities to act as the buyers of last resort and announce that they will cap any yield rises in the long end of the market with unlimited QE. If the authorities do not act soon the markets could plunge very sharply today as investors find no safe harbors anywhere. <center>[Original Post](https://www.investing.com/analysis/code-red--stocks-dive-bonds-dump--is-the-vicious-cycle-here-200516885)</center> |
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"title": "Stocks Dive, Bonds Dump – Is The Vicious Cycle Here?",
"body": "March 18, 2020\n\n * 10\nY yields surge\n * Equities limit down\n * Nikkei -1.68% Dax -3.29%\n * UST 10\nY 1.19%\n * Oil $26/bbl\n * Gold $1498/oz\n * BTC/USD $5228\n\nEurope and Asia:\n\n * No Data\n\nNorth America:\n\n * CAD CPI 8:30\n * USD Building Permits 8:30\n\nEquity futures were limit down once again in Asian and European trade today as the COVID-19 news remained bleak with worldwide cases approaching 200,000 mark and deaths passing the 7,000 barrier.\n\nGovernments have struggled to respond to the fast-growing health crisis that is quickly morphing into the greatest threat to the global economy since the Great Depression. With much of the industrialized world on lockdown as authorities try to institute social distancing measures, economic activity has ground to a halt and governments are scrambling to respond with emergency measures that include a hodge-podge of UBI, grants and loans proposals.\n\nAs we noted yesterday most of these measures will fail miserably as they are way too slow, are generally means based which would require a massive bureaucracy to administer and are not generous enough to stave off the catastrophic drop off in demand.\n\nIn Europe, the Germans finally appear ready to consider joint debt issuance which is a much-needed change in order to socialize the stimulus benefits across the continent, but whether they go through with the commitment remains to be seen.\n\nMeanwhile, there is a very troubling development in the bond market as global yields have surged despite the selloff in stocks. In Italy, the 10\nY BTPs are at 2.90% while in US 10-year yields were as high 1.21% an 11% pop since yesterday. The conventional wisdom is that the selloff in bonds is simply a margin liquidation event as investors scramble for capital, but we suspect that is only part of the story.\n\nThe massive fiscal spending plans to be put in place along with a sharp drop off in tax revenues are likely creating a crisis of confidence in the sovereign debt market at the absolute worst time possible. If selloffs in equities now lead to a selloff in bonds the global financial markets will enter into a vicious cycle from which they will not be able to recover.\n\nBonds’ primary function during market selloffs is to act as a risk cushion to investor portfolios and if they instead act as yet another deadweight on returns the margin liquidation conditions that we have seen up to now will be nothing compared to will come over the next few days. That is why it is critical for central bank authorities to act as the buyers of last resort and announce that they will cap any yield rises in the long end of the market with unlimited QE. If the authorities do not act soon the markets could plunge very sharply today as investors find no safe harbors anywhere. \n <center>[Original Post](https://www.investing.com/analysis/code-red--stocks-dive-bonds-dump--is-the-vicious-cycle-here-200516885)</center>",
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}spaminatorflagged (-0.25%) @petrovanalytics / news-zon4pba3qea-9esvo8agfdp2020/03/18 11:37:12
spaminatorflagged (-0.25%) @petrovanalytics / news-zon4pba3qea-9esvo8agfdp
2020/03/18 11:37:12
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