Articles by Roger Baettig

  • Weakening Chinese Economy Weighs on Brent Prices

    July 01 2013 7:47 AM

    Brent crude oil started July on its back foot on Monday as the commodity slipped on weakening demand prospects and a stronger dollar. Brent traded at $102.08 at 6:06 GMT on Monday morning, barely scraping above the $102 mark as investors eyed more poor Chinese data. CNBC, reported that a private HSBC survey showed that China's manufacturing activity slipped on June, which added to growing concern that the number two oil consumer was slowing down.

  • Gold, Stocks and Tapering With Founder Of 'The Gartman Letter' Dennis GartmanGold, Stocks and Tapering With Founder Of 'The Gartman Letter' Dennis Gartman

    June 28 2013 9:16 AM

    Dennis Gartman, founder and editor of The Gartman Letter, talked about gold's plummet, tapering and stocks on CNBC's Squawk Box on Friday morning. "I've been very fortunately short of gold, long of stocks, and long of crude oil, a rather complicated trade that worked out reasonably well, and I think it's time to go to the sidelines. I'm not sure that I want to step up and buy gold, put I think the time to be short of it has passed. I have been openly bearish of gold for some period of time," said Gartman.

  • Peter Schiff - Is Now the Time to Sell Gold?

    June 27 2013 4:06 PM

    In his latest exclusive video on the gold market, Peter Schiff answers the question on everybody’s mind: “Where is the bottom in gold and is it time to sell?” Peter explains how speculative money drove the current decline in the price and why the strong fundamentals of gold indicate the price may rise even faster than it has fallen.

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

    June 27 2013 1:27 PM

    USD is broadly stronger across most major currencies on better US data GBP is lower after data showed contraction in domestic growth JPY is weaker against the dollar after the selloff in Japanese stocks and bonds

  • Bank of International Settlements warning of a Bond Crisis on the way!Bank of International Settlements warning of a Bond Crisis on the way!

    June 27 2013 9:26 AM

    Whether it is Bill Gross of Pimco, Marc Faber, ourselves or so very many competent analysts in the financial world, to a man, are warning of the destructive power of rising interest rates. Now in addition to all of us, we have the central banker of central bankers, the Bank of International Settlements, giving a serious warning to developed world governments that it is perhaps too late to rely on growth to rescue the global economy from deflation.

  • Draghi Says the ECB Will Continue to be Accommodative

    June 27 2013 8:15 AM

    The euro dipped below $1.30 for the first time in nearly a month in the early hours of Thursday after comments from the European Central Bank underscored some of the risks to the region's growth. Bank President Mario Draghi remarked that the ECB would continue with accommodative monetary policy as the region's future growth is expected to be fragile.

  • Brent Creeps Upward on Weak US Data

    June 27 2013 8:12 AM

    Brent crude oil rose on Thursday after poor economic data from the US gave investors reason to believe the Fed wouldn't roll back its stimulus program in the near future. The commodity approached $102 and traded at $101.93 at 8:02 GMT on Thursday morning. CNBC reported that the US government released a trimmed annual economic growth rate forecast of 1.8 percent, down from the original 2.4 percent estimate.

  • Energy Companies Pull a Blackwater Energy Companies Pull a Blackwater

    June 26 2013 5:14 PM

    Norwegian energy company Statoil said last week it was forming a special operations division to handle emergency operations in response to a terrorist attack on a natural gas facility in Algeria. The company said it would double the amount of employees it had designated for existing security operations after reviewing the measures in place at the In Amenas gas facility. A January attack there left employees with Statoil and BP dead in what al-Qaida said was a response to French intervention in Mali.

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

    June 26 2013 5:00 PM

    US dollar under pressure on revised softer Q1 GDP Euro extends losses on ECB Draghi comments Yen strengthens amid China concern

  • Google's Gmail Experiences Bouts of Errors (GOOG)Google's Gmail Experiences Bouts of Errors (GOOG)

    June 26 2013 4:26 PM

    It appears that Google's (NASDAQ: GOOG [FREE Stock Trend Analysis]) is experiencing some difficulty with its servers on Wednesday afternoon. Tweets have popped from from users such as @brinkguthrie and @HadrienBoye stating that errors have occurred.

  • Brent Down on US Economic Data

    June 26 2013 8:30 AM

    Brent crude oil slipped on Wednesday after data from the US backed up the Federal Reserve's plan to pare its stimulus program later this year as the nation strengthened.

  • Euro Falls Against Stronger Dollar

    June 26 2013 8:23 AM

    The euro fell against a stronger dollar as eurozone leaders headed into a summit meeting on Thursday. The common currency was trading at $1.3078 on Wednesday morning despite positive consumer sentiment data in Germany. German consumer sentiment rose to its highest level in nearly six years in June, and estimates show it will continue to rise in July.

  • Brent Crude Oil Slips On Stronger Dollar

    June 24 2013 2:12 PM

    Brent crude oil slipped Monday on disappointing Chinese econ data, and a flight to the dollar.

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

    June 21 2013 1:21 PM

    US dollar supported on prospects of Fed scaling back stimulus Sterling slides vs USD on Fed announcement Antipodean currencies take a break from slide against USD

  • PMI Data Gives Hope to Eurozone Recovery

    June 21 2013 8:45 AM

    Recent purchasing managers' data is suggesting that the eurozone could be on the road to recovery. The region has been stuck in its longest postwar recession, but new data suggested that the region could show weak growth by the end of the year.

  • Brent Poised to End the Week on a Low Note

    June 21 2013 8:42 AM

    Brent crude oil slipped to a one week low at $102.57 at 5:22 GMT on Friday morning. The commodity suffered as investors worried about a weakening Chinese economy and the US Federal Reserve's plan to taper off its stimulus program.

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

    June 20 2013 1:49 PM

    USD – The US dollar strengthened against major currencies and looked set to extend gains after the Federal Reserve signaled it would begin withdrawing stimulus this year as the U.S. economy improves. Market participants re-engaged in support for the greenback after Fed Chairman Ben Bernanke (following the central bank's two-day policy meeting that concluded yesterday) said the Fed was likely to end its bond-buying program by mid-2014. The prospect of less quantitative easing and higher interest rates should support the dollar, especially in an environment where some other central banks are moving in the opposite direction.

  • Will the U.S. be able to Dominate the Gold Price Both Ways?

    June 20 2013 1:32 PM

    In April the gold price buckled and fell $330, $200 of which took only two days. It was a well-engineered bear raid, initiated by over 400 tonnes of ‘short’ positions on the COMEX futures and options market. But the futures and options market is not likely to cause the price of gold to fall as only 5% of that market involves the physical delivery of gold and then only after the counterparty has been put on notice that physical delivery of gold is required.

  • Eurogroup Expected to Agree on Direct Recapitalization Terms

    June 20 2013 10:26 AM

    The euro slipped from its four month high on Wednesday and continued the slide into Thursday morning after the US Federal Reserve confirmed that it would probably begin to taper its bond buying program at the end of the year.

  • China's Economy In Free Fall As Manufacturing Contracts Again, SHIBOR Climbs Higher

    June 20 2013 10:21 AM

    China's economy looks set to continue to slow to growth rates not seen in decades this year as the manufacturing sector continues to contract and the government refuses to help the struggling financial sector. Overnight lending rates rose above 10 percent Thursday in a sign that the entire Chinese financial system is seizing due to a lack of liquidity, not unlike the global system did in 2008.