Today at 06:59:18 AM by TradersCom
Views: 1127 | Comments: 15

U.S. Energy Information Administration (EIA) data for the week ended October 21, 2016

Crude -553k bbls exp Build +1699k Prior Draw -5200K bbls API Build +4800k bbls
Cushing -1377k bbls vs exp Draw -2300K Prior Draw -1635 bbls API Draw -2300K bbls
Gasoline  -1956k bbls vs exp  Draw -963k Prior Build +2469K  API Build +1700K bbls
Distillate -3354k bbls vs exp  Draw -1413k Prior Build +103K API Draw -940K bbls
Refinery utilization +.60
Weekly production+ 0.040 mbpd to 8.504 mbpd currently -0.608 mbpd lower YOY
Imports +.109 Prior -.912
*exp = Reuters poll est exp Cushing
View Prev Week Report & Analysis.
October 24, 2016, 05:14:47 PM by TradersCom
Views: 459 | Comments: 2

Drilled but Uncompleted Wells or DUCs are wells that have been drilled but not yet tapped. They are America's great overhanging oil inventory waiting for the price and timing for that tapping. Here we sit over $50 on front month WTI and the big oil producers report quarterly earnings are on tap (sorry).

We have Exxon, Chevron, Marathon ConocoPhillips, Antero Resources Corp. Cabot Oil & Gas Corp, Continental Resources and EOG all out in the next fortnight.

Hard to bet on oil direction sometimes but you can bet on one thing on these companies conference calls, "When will you be tapping drilled but uncompleted wells?"
October 24, 2016, 04:36:27 PM by HeidsterTrades
Views: 394 | Comments: 2

One week ago the BOC did not move on their current 0.5% interest rate.  This afternoon Gov. Poloz has given a speech about the thinking behind this decision.  The BOC sees rate cuts, especially so close to the zero bound as unconventional monetary policy, otherwise, policies that are not to be taken lightly. 

The members of the BOC decided to come back to looking at possible rate cuts in about 18 months, which pushes this possibility out to sometime in 2018.  There are a few reasons they came to this decision.

Follow the Loonie with these quotes and it gets better - he retracts it in the thin Forex quiet time - Loonie Tunes!
October 23, 2016, 07:19:55 PM by TradersCom
Views: 393 | Comments: 0

Japan September trade balance
Trade balance Y 498.3bn expected Y 366.1bn, prior Y deficit -19.2bn
Trade balance (adjusted) Y 349.0bn expected Y 211.0bn, prior Y 364.4bn revised from Y 408.4bn
Exports y/y:  -6.9% expected -10.8%, prior -9.6% September lowest rate of contraction since March.
Imports y/y:  -16.3% expected -17.0%, prior -17.2%

Regional per MoF for September:
Exports to US -8.7% y/y
Exports to China -10.6% y/y
Exports to Asia -8.4% y/y
Exports to EU +0.7% y/y for first increase for 5 months (EURJPY, GBPJPY Affect)
October 23, 2016, 07:03:53 PM by TradersCom
Views: 426 | Comments: 2

In a weekend of mergers Reuters is reporting TD Ameritrade & Toronto-Dominion bank are nearing a deal to buy Scottrade for $4 bln. Reuters quote unnamed sources on the potential deal.


TD Ameritrade and Toronto-Dominion Bank Nearing deal to buy Scottrade financial services for $4 billion
TD Ameritrade would acquire Scottrade's brokerage operations
Toronto-Dominion would purchase Scottrade's banking operations

On Saturday AT&T Agrees To Buy Time Warner in Media Content Megadeal.
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What’s ahead this week:
Oct 25   Case-Shiller 20-city Index
Oct 25   FHFA Housing Price Index
Oct 25   Consumer Confidence
Oct 26   MBA Mortgage Index
Oct 26   International Trade in Goods
Oct 26   New Home Sales
Oct 26   Crude Inventories
Oct 27   Initial Claims
Oct 27   Continuing Claims
Oct 27   Durable Orders
Oct 27   Durable Orders, Ex-Transportation
Oct 27   Pending Home Sales
Oct 27   Natural Gas Inventories
Oct 28   Chain Deflator-Adv.
Oct 28   GDP-Adv.
Oct 28   Chain Deflator-Adv.
Oct 28   Employment Cost Index
Oct 28   Michigan Sentiment - Final

Is Another Lehman Blunder Coming Up?

via @TheBubbleBubble

Proportion of IPOs done by loss-making companies was over 70% in the past 2 years

via @Callum_Thomas

Hedge Fund Launches Dwindle to 16-Year Low as Returns Lag

via @NickatFP

Eurozone QE bond buying passes €1tn mark

via @Schuldensuehner