Traders Thread - Wednesday 26th November TRAD





Reuters

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The New York Times

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South China Morning Post

Japan Times

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Moscow Times





FTSE / DOW YTD

The global economy is collapsing and oil reflects that. Japan is in recession, if not starting a depression. Europe is almost as bad. Germany, the engine of Euro growth is sputtering. There is almost no growth elsewhere in Europe. Sanctions are hurting Russia badly, and they were a big buyer from the EU. China's credit fueled boom is over. Building ghost cities can't continue forever. Iron ore prices have collapsed, China has about twice the number of steel mills than could ever operate at a profit. The rest of the countries that supplied raw materials to China (Australia, Canada, etc.) aren't doing well as a consequence. The USA will not be able to escape the consequences forever. It's having a financial boom, but the real economy is at best flat. It's a global economy and every country in interlinked.

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An interesting point of view, post pinched off of M/Ks market watch site.

Don't you think the Yanks are behind the fall in Oil price to screw Russia?

I'll get me coat........

Midday Report

From 1:30 :-

USD Core Durable Goods Orders m/m -0.9% 0.5% -0.1%

USD Unemployment Claims 313K 287K 292K

USD Core PCE Price Index m/m 0.2% 0.1% 0.1%

USD Durable Goods Orders m/m 0.4% -0.4% -1.1%

USD Personal Spending m/m 0.2% 0.4% 0.0%

USD Personal Income m/m 0.2% 0.4% 0.2%

USD Chicago PMI 60.8 63.1 66.2

Closing Market Summary