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Showing posts from October, 2018

Trump says he may send 15,000 troops to U.S.-Mexico border I National Security I The Washington Post By Paul Sonne  Airman 1st Class Trevor Pearce helps guide a military vehicle into the cargo compartment of a C-17 Globemaster III at Fort Knox, Kentucky, on Oct. 29, 2018. (Airman 1st Class Zoe Wockenfuss/AP) Paul Sonne National security reporter focusing on the U.S. military Missy Ryan Reporter covering the Pentagon, military issues and national security October 31 at 4:49 PM President Trump said Wednesday that he would deploy as many as 15,000 military personnel to the border with Mexico in response to a caravan of Central American migrants making its way northward, doubling the figure that Pentagon officials said would be headed there.   Trump said he was prepared to deploy anywhere between 10 and 15,000 military personnel to ensure “nobody’s coming in.” His comments came a day after the general in charge of the border deployment said 5,239 active-duty troop

EU FX I Currencies: Dollar at new 16-month high as US data lends support I CNBC CNBC The dollar edged up to a fresh 16-month high against a basket of key currencies on Wednesday on the back of continued U.S. economic strength, putting the greenback on pace for a seventh straight month of gains. Against a basket of its rivals, the dollar, was up 0.13 percent at 97.12, its highest level since June 2017. "If you look at the G10 as well as some of the emerging markets, they have been battered quite a bit over the last six months and the movements over the past two, three weeks has not helped," said Minh Trang, senior FX trader at Silicon Valley Bank in Santa Clara, California. "Especially if you look at currencies like the euro or the pound," Trang added. The euro slipped 0.28 percent against the greenback, while the dollar climbed 0.06 percent against the Japanese yen . Both currencies have shed more than 2 percent in October. Less-than-stellar economic news from the euro zone region has weighed on the eur

Bonds & Fixed Income Report: US Treasury yields climb after strong jobs data I CNBC Thomas Franck, Sam Meredith U.S. government debt yields rose Wednesday morning after a report showed that companies continued to hire at a quick pace in October, suggesting further economic strength. ADP and Moody's Analytics said private payrolls increased by a better-than-expected 227,000 over the month; economists polled by Refinitiv had expected growth of 189,000 positions. Construction and manufacturing each added 17,000 each, according to the report. At around 4:02 p.m. ET, the yield on the benchmark 10-year Treasury note , was higher at around 3.149 percent, while the yield on the 30-year Treasury bond was also higher at 3.391 percent. Bond yields move inversely to their prices. The latest employme

Oil Price at Close Report: Oil prices sink 10.8% in October, settling at $65.31, in worst monthly loss since July 2016 I CNBC CNBC 7-8 minutes

Gold Price at Close Report I Gold slides to 3-week low as dollar rises, stocks rebound I CNBC CNBC Gold fell to a near three-week low on Wednesday as the dollar scaled a 16-month peak and a bounce in stock markets following a recent rout revealed renewed appetite for riskier investments. However, the metal remained on track for its best month since January, ending a six-month run of losses in October, the longest such streak since a period from August 1996 to January 1997, boosted by stock market volatility. Spot gold was down 0.71 percent at $1,213.93 per ounce having touched its lowest since Oct. 11 at $1,211.52. U.S.

Wall Street at Close Report I Stocks surge to cap off wild October, but S&P 500 posts biggest monthly loss since 2011 I CNBC Fred Imbert

USDZAR higher following balance of trade report | ForexTime (FXTM) 31 October By Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM Rand stands as biggest EM loser following balance of trade report The South African Rand stands at time of writing as the biggest loser amongst emerging markets currencies today with losses of 1.56%, after South Africa’s latest balance of trade report unexpectedly showed slowing export growth. The recently-announced trade balance data for September has essentially resumed selling pressure on the Rand. The market is not pleased with the news that export growth fell by 2.6% month-on-month, with the essential factor to consider that slowing export growth at a time where the domestic economy is in a technical recession is never a positive sign for any global economy. Figures like this do suggest that external uncertainties, such as the prolonged trade tensions and warnings from respected institutions like the IMF that global growth has potentially “plateaued” is a problem

DSIO Issues No-Action Relief Regarding Futures Commission Merchant’s Deposit of Customer-Owned Securities as Margin with UK Broker I CFTC I Press Release October 31, 2018 Washington, DC — The  Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter to provide relief to a futures commission merchant (FCM) from certain requirements regarding the holding of customer-owned securities as margin for trading on foreign futures and options markets under CFTC regulations. This letter supersedes CFTC Letter No. 16-88 and was issued due to certain changes in the facts and circumstances represented in letter 16-88 resulting from changes to European laws.   The current relief provides that DSIO would not recommend an

Craig Hemke at Sprott Money: Bullion banks want market rigging, not higher prices: GATA I THE GATA DISPATCH

Submitted by cpowell on 02:59PM ET Wednesday, October 31, 2018. Section: Daily Dispatches 9:50a CT Wednesday, October 31, 2018 Dear Friend of GATA and Gold: Writing at Sprott Money, the TF Metals Report's Craig Hemke notes today that the big commercial traders in the monetary metals futures markets, the bullion banks, have flipped from long to short again on what was only a small move up in prices. This, Hemke argues, shows that the banks envision forever making their money through market manipulation on behalf of central banks rather than through accumulating metal and someday driving prices up. Hemke concludes: "So, please: The next time you hear someone state that 'the banks are getting long' and that price is thus 'set to explode,' think otherwise. The banks that operate on the Comex are not your friend, they are not your ally, and they are not interested in profiting on the long side. Instead, thei

Dollars declined as India plans to pay in rubles for Russian air-defense system I GATA I THE GATA DISPATCH

Submitted by cpowell on 02:38PM ET Wednesday, October 31, 2018. Section: Daily Dispatches From Russia Today, Moscow Wednesday, October 31, 2018 The contract between Moscow and New Delhi on supplies of Russian S-400 air defense systems will be settled in rubles, according to Russian Deputy Prime Minister Yuri Borisov. The move comes as Moscow intensifies recent efforts to make de-dollarization of the Russian economy one of the main pillars of its policy. The Kremlin is looking for an alternative to the U.S. dollar in mutual settlements with international partners. The key point of the plan is to make it more profitable for Russian exporters and importers to use rubles instead of dollars. ... ... For the remainder of the report: 442716-india-s-400-ruble- settlement/

Analysis | The Daily 202: House races become more nationalized in Trump-era midterms I Analysis | The Daily 202 I The Washington Post By James Hohmann Rep. George Holding (R-N.C.) speaks during a debate at the WRAL studios in Raleigh. (Travis Long/News & Observer/AP) THE BIG IDEA: WAKE FOREST, N.C.—George Holding’s 16-year-old daughter asked him on Monday whether he thinks President Trump will win reelection next week. The Republican congressman, locked in a tight race for a fourth term that has drawn a flood of late spending from national outside groups, could understand why. “You would think the president is on the ballot – just because he’s front and center every day,” Holding said in an interview yesterday afternoon after stopping for lunch at his favorite hot dog stand. The congressman said partisans on the left and right appear to be much more engaged in 2018 than during the last midterm election, even though the country’s most expensive Senate race in 2014 was here. The latest data shows that nearly four times as many early votes