Articles by Roger Baettig

  • New Pipeline Safety Technology Could Bring Industry and Environment Together New Pipeline Safety Technology Could Bring Industry and Environment Together

    August 08 2013 1:24 PM

    The 2010 Kalamazoo spill and the 2013 Exxon leak in Arkansas are the most glaring incidents, but these are just the big leaks that are found right away and reported.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 08 2013 12:43 PM

    USD broadly weakened as uncertainty over tapering lingers - EUR strengthened on better-than-expected German industrial output data - AUD surged on encouraging Chinese trade data

  • Lear Capital: The Gold Pushmi-PullyuLear Capital: The Gold Pushmi-Pullyu

    August 07 2013 1:23 PM

    Today is an historic day. Today I broke my personal record for consecutive days lived. And, it was on this day that the Gold Pushmi-Pullyu worked hard to drive the gold price lower than its all-in cost of production. The Pushmi-Pullyu is a fictitious animal character of Dr. Dolittle lore that has two heads. A Gazelle at one end and a Unicorn on the other. The derivation of its name is obvious.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 07 2013 1:17 PM

    USD broadly weakens with the exception of the CAD and MXN - GBP surges after hawkish comments from Carney - JPY strengthens against most majors ahead of a BoJ announcement tommorow

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 06 2013 12:17 PM

    USD is mixed as US trade deficit narrowed - EUR and GBP rallied after better-than-expected factory orders and manufacturing output - Commodity currencies are slightly higher despite an aussie rate cut this morning

  • PETER SCHIFF - WHAT DOESN'T KILL GOLD MAKES IT STRONGERPETER SCHIFF - WHAT DOESN'T KILL GOLD MAKES IT STRONGER

    August 06 2013 10:40 AM

    I've been emphasizing for months that the current correction in the gold price is a result of speculative money fleeing the market and not any reflection of gold's long-term fundamentals. Unfortunately, there is so much money to be made (and lost) by day trading that my cautions have once again fallen on deaf ears.

  •  Oil mostly higher Oil mostly higher

    August 06 2013 10:33 AM

    The oil complex is slightly higher ahead of the US trading session. Overnight trading was quiet with some positive economic data out of the UK and Italy offset a tad by the Libyan government indicating that production increased a bit although the main terminal remains closed. Output out of Libya is still less than half of normal as labor disputes have shut a major portion of the oil sector down.

  • The S&P 500 is Plagued with DivergencesThe S&P 500 is Plagued with Divergences

    August 06 2013 10:18 AM

    By now everyone has a prediction about where the S&P 500 Index (SPX) is going to be heading in the future. Most of the sell side and their ilk are all rolling out the green bullish carpet and predicting that a major bull run is right around the corner.

  • Gold Stocks Correcting in Typical Post-Bottom FashionGold Stocks Correcting in Typical Post-Bottom Fashion

    August 06 2013 8:20 AM

    In our last editorial we presented the bulletproof evidence that the gold stocks had put in a major bottom. We included a historical chart that was supplemented by a major reversal at a Fibonacci strong target and on record weekly volume. At the end of that piece we noted that the sector could correct before it would accelerate to the upside. Looking at historical rallies from major bottoms we noticed that there tends to be a consolidation or correction around the 50-day moving average. The sector is two weeks into that correction. Don’t worry bulls, this is exactly what happens following the initial rebound.

  • The United States of OPECThe United States of OPEC

    August 05 2013 2:05 PM

    As someone who cheers for the success of this great country, I desperately want to believe in the concept of America's energy independence. In the past decade we have been inundated with predictions of the U.S. becoming the next Saudi Arabia of oil and natural gas production. Fracking, tar sands, shale gas, et al., are supposed to bring about a manufacturing renaissance and trade surplus in the near future. But, as of now there isn't much evidence we are headed in that direction.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and RMBDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    August 05 2013 1:06 PM

    US Q2 GDP growth 1.7%; unemployment dropped from 7.5% to 7.4% - UK services displays fastest growth pace in 6 years - Aussie at three-year lows on negative retail sales figures

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 01 2013 12:31 PM

    USD rallied after better-than-expected US economic data - EUR fell sharply against USD after dovish comments from ECB President Draghi - Commodity currencies weakened despite higher US equities and oil prices

  • The Fed has no problem in keeping the QE at 85$b monthlyThe Fed has no problem in keeping the QE at 85$b monthly

    August 01 2013 7:44 AM

    The Fed has signaled yesterday that there are less worries about keeping the QE on with no cutting of it amid benign inflation pressure with its yearly rate is still below 2.5% which can push the fed forward to start cutting it and also with the unemployment rate is still well above the 6.5% which it is still repeating as a target of it with no revision.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    July 31 2013 12:52 PM

    USD broadly stronger as Q2 GDP growth beats expectations - EUR steady as Eurozone CPI data meets expectations - Commodity currencies are lower after dovish comments from RBA governor Glenn Stevens

  •  U.S. biodiesel production reached a record level in May 2013 U.S. biodiesel production reached a record level in May 2013

    July 31 2013 10:37 AM

    U.S. biodiesel production in May 2013 reached a record level of 111 million gallons, according to data released by the U.S. Energy Information Administration (EIA) on July 30. Production came from 116 active biodiesel plants with operable capacity of 2.2 billion gallons per year.

  •  Another large crude oil draw in Cushing Another large crude oil draw in Cushing

    July 31 2013 10:13 AM

    Markets have been relatively quiet in overnight trading as participants await the outcome of the US Federal Reserve FOMC meeting as well as US GDP data. The market is expecting a status quo from the Fed with little new guidance as to the phasing out of the massive quantitative easing program. The market is expecting US Q2 GDP to come in around 1.1 percent or a less than stellar performance for the US economy. The only way the FOMC outcome could turn into a major market mover will be for the Fed to indicate an early ending to QE3. With Q2 GDP expected to be barely above the 1 percent level and unemployment expected to come in around 7.5 percent or 1 percent above the Fed's threshold I do not expect any surprise ending announcements from the Fed today.

  • Is Europe Ready to Take Off?Is Europe Ready to Take Off?

    July 30 2013 5:49 PM

    One year ago, European Central Bank President Mario Draghi announced that the central bank had the political will to do “whatever it takes” to save the euro. Now, the worst may be over, as suggested by stronger economic data coming out of Europe. It appears the Continent is finally on the road to a sustained recovery.

  • Bank of England meeting preview: Deciphering Mark Carney  Bank of England meeting preview: Deciphering Mark Carney

    July 30 2013 1:56 PM

    On Thursday 1st August at 1200 BST/ 0700 ET the Bank of England will announce its latest policy decision, the second one under the stewardship of new Governor Mark Carney. The market expects no change in interest rates or in the bank’s asset purchases. Currently the market is only pricing in 5 basis points of cuts for this week.

  • Fort McMurray Evicts Oil Sands Companies that Helped it Grow Fort McMurray Evicts Oil Sands Companies that Helped it Grow

    July 30 2013 1:50 PM

    The Canadian town of Fort McMurray, population 76,000, is the heart of Alberta's oil sands largesse--but the town is bursting at its seams with nowhere to expand because the land surrounding it is owned by oil companies.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    July 30 2013 12:54 PM

    USD pushed higher ahead of the Fed’s two-day meeting next week - EUR and Sterling held close to current ranges ahead of ECB and BoE meetings - Commodity currencies mixed on dovish RBA comments