Articles by Roger Baettig
- CFTC Commissioner Bart Chilton Considers Regulating Bitcoin
May 07 2013 12:13 PM
Bart Chilton, Commodity Futures Trading Commission Commissioner, appeared on CNBC's Squawk Box Tuesday to discuss having his eye on the digital currency Bitcoin.
- Depositors Beware - Bank Deposits Of More Than €100,000 Are At Risk
May 07 2013 9:06 AM
Today’s AM fix was USD 1,463.00, EUR 1,118.67 and GBP 941.74 per ounce. Friday’s AM fix was USD 1,476.50, EUR 1,124.95 and GBP 949.34 per ounce.
- Oil prices drifitng lower
May 07 2013 8:52 AM
More stimulus arrived in the developed world overnight with the Australian Central Bank announcing a surprise 25 basis point reduction in short term interest rates to a record low. The RBA has lowered its short term interest rate seven times since the end of 2011. The RBA joins the US, UK, Japan and EU in its aggressive easy monetary policy as most of the developed world remains mired in a sluggish economic growth pattern. The aggressive monetary programs are serving to try to ramp up economic growth but are also providing a floor on most risk asset markets along the way.
- Brent Settles Below $105 on Profit Taking
May 07 2013 8:43 AM
Brent crude oil rose to its highest in nearly a month on Monday after geopolitical worries overcame demand concerns and lifted crude prices. However, profit taking pushed the commodity downward to settle at $104.95 at 5:55 GMT on Tuesday morning.
- Euro Slips on Draghi's Comments
May 07 2013 8:38 AM
The euro lost some ground on Tuesday morning after Mario Draghi reiterated the central bank's commitment to further easing on Monday. The common currency fell to $1.3052 overnight and steadied at $1.3088 in the early hours of Tuesday.
- Foreign Financial Reporting of U.S. Citizens Coming. Will it Include Gold?
May 07 2013 8:22 AM
Since the start of the credit crunch in mid-2007 we have seen a steady move forward by government to place greater control over the financial aspects of people’s lives. One of the biggest milestones from an investor’s point of view has been the establishment of the Foreign Account Tax Compliance Act (FATCA). This is consistent with the intentions expressed by President Obama that U.S. Citizen’s financial successes at home and abroad should be subject to U.S Taxation so that the U.S., as a nation, can benefit. The Patriot Act was the first to employ this approach but now we are moving several steps forward from these measures.
- Don't Sell in May: Here are Reasons to Extend Your Stay
May 06 2013 6:10 PM
During the first week of May every year, the maxim, “Sell in May and Go Away,” gets taken out, dusted off and powered up as a reason to sell stocks. The rhyme is more than just a catchy urban legend: June, July, August and September have historically been the weakest months of the year for the S&P 500 Index. Yet even if seasons trigger certain events, when the snow falls in Minnesota in May, Midwesterners need to throw on their winter gear and roll out snowblowers, not lawnmowers. Consider this encouraging research: The S&P 500 has been rallying for six months in a row, which has happened 48 times since 1950. Following these six-month winning streaks, stocks have historically continued rising. Sixty percent of the time, the S&P 500 climbed 0.79 percent over the next month; 84 percent of the time, stocks increased 3.50 percent, 7.77 percent and 11.77 percent the next three, six and 12 months following the streak.
- Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB
May 06 2013 1:37 PM
• UK avoids a triple dip recession with sterling at 11-week highs • Commodities are taking a hit with signs of economic weakness • RMB is trading weaker with the release of new tight yuan regulations
- How to Trade Gold, Silver & Precious Metal Miners
May 06 2013 1:33 PM
May 6th, 2013 at 12:56 pmHow to trade Gold and other precious metals related investments is not that complex. But you must be willing to wait for price to provide low risk entry points before getting involved. Precious metals are like any other investment in respect to trading and investing in them. There are times when you should be long, times to be in cash and times to be short (benefit from falling prices).
- Nat Gas futures trading either side of $4/mmbtu
May 06 2013 11:50 AM
The battle rages in the Nat Gas markets as spring like weather is projected to be on the way which should result in an increase of inventory injections on one hand. On the other side of the battle price support coming from the fact that total Nat Gas inventories are well below last year and modestly below the more normal five year average for the same timeframe. The bearish view won out over the latter part of last week after the weekly inventory report showed a larger than expected injection into inventory. So far this morning the spot futures contract is in a bit of a stalemate as the June Nymex futures spent time in the high $3's and is now (as of this writing) back above the technical and psychological $4/mmbtu level.
- Brent Bounces on Escalating Syrian Conflict
May 06 2013 11:44 AM
Geopolitical tension outweighed uncertain growth prospects and Brent crude oil rose to its highest level since April 11th early on Monday. The commodity settled at $104.54 at 7:37 GMT on Monday morning.
- Finland's Alexander Stubb Expresses Commitment to the Euro
May 06 2013 8:32 AM
The euro traded steadily at $1.31 on Monday morning following last Thursday's European Central Bank interest rate cut. The bank met expectations and cut its already record low interest rate to 0.5 percent. The cut itself put pressure on the euro, but bank President Mario Draghi's press conference following the meeting was the main driver in weakening the currency.