Founder And Chief Strategist

Fundamental Analysis EUR "The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales." - Gerd Hassel, an economist at BHF Bank AG German industrial production unexpectedly soared in March, adding to signs the euro zone’s largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday. USD "People are preparing for a shock that may or may not occur." - Michael Holland, chairman and founder of New York-based Holland & Co. U.S. stocks fell on Tuesday as Greece’s bailout pledge came into question. GBP "The health of the housing market is a reverberation of consumer confidence and credit ...

Fundamental Analysis EUR "Equities are stronger than in the fall, as central banks have moved to support the market with liquidity and removing the structural risks to banks" - Hans Peterson, the chief investment officer of SEB Private Bank Industrial new orders in the euro zone declined by more than forecast in February, Eurostat data showed on Tuesday. Orders decreased by a seasonally adjusted 1.3 per cent, after declining 2.9 per cent in January. USD "Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic" - Lynn Franco, director of the Conference Board Consumer Research Center U.S. consumer confidence declined in April as consumers became slightly less optimistic on the outlook of the country’s economy, the Conference Board Inc. ...

(Reuters) - Oil prices rose on Wednesday, reversing two days of losses, after U.S. government data showed domestic fuel stocks fell much more than expected last week, which overshadowed an increase in crude inventories. U.S. crude oil stocks rose by 2.8 million barrels, their third straight weekly gain, dwarfing analysts' forecasts for an increase of 2.1 million barrels. The stock build occurred even though crude imports were down 1.25 million barrels per day, the biggest weekly decline since January. However, the inventory rise came in well below industry data that showed a 6.6-million-barrel increase. Refinery utilization unexpectedly fell nearly 2 percentage points to 83.8 percent of capacity, the data from the Energy Information Administration showed -- another ...

(Reuters) - Brent crude's premium to U.S. oil could be poised for another record run after jumping 50 percent over the past week, as an expected build in Midwest inventories again exerts pressure on the U.S. benchmark. The Brent-WTI spread, which measures the difference between London-based Brent and the U.S. benchmark West Texas Intermediate (WTI), has jumped past $19, up sharply from near $12 at the start of last week. With U.S. refiners starting seasonal maintenance just as a major pipeline starts carrying more crude, traders said the oil glut in the U.S. Midwest that helped drive last year's record spread was back on their radar. That should widen the discount between what refiners pay for oil around the WTI delivery point of Cushing, Oklahoma, compared with the price paid by ...

Brent prices rose for a third straight day on Thursday and U.S. crude dropped more than 1 percent in heavy trading that saw the price differential between the two contracts widen close to three-month highs. Brent's premium to U.S. crude futures shot to near $16 a barrel, up more than $2 on the day, marking the biggest three-day rise in the spread since August. Limp demand and robust supplies in the United States had weighed on the U.S. oil complex, sending front-month crude to a six-week low. Caution ahead of Friday's U.S. non-farm payrolls and unemployment report for January also pressured U.S. crude. International benchmark Brent found support from cold weather in Europe and geopolitical concerns including the West's contentious standoff with OPEC member Iran over Tehran's nuclear ...

(Reuters) - The euro edged higher for a second straight day against the dollar on Tuesday as risk appetite improved with solid gains in stocks ahead of a European Central Bank policy meeting and crucial debt auctions from two of the region's larger economies. With euro net short positions at their largest ever, according to recent data, the euro was widely seen as susceptible to bouts of short-covering and some analysts expected a further squeeze higher to about $1.30. The single currency, however, could come under renewed pressure with bond auctions on Thursday and Friday from Spain and Italy, two countries at the epicenter of the euro zone crisis. "There's a little bit of risk-on, but the overall (tone) remains bearish. The only reason for caution remains on the pace of the move in ...

(Reuters) - Oil rose on Thursday as gains in the stock market and shortcovering helped shake off early losses caused by a rise in U.S. crude stockpiles. Crude dipped early after U.S. inventory data showed an unexpected build in stockpiles last week, adding to pressure from the dollar's gain against the euro, which weighed on dollar-denominated commodities. Crude turned positive in the afternoon as the euro rebounded and stock markets rose, putting Brent crude on track for gains of 13 percent for the year and U.S. oil futures in line for an 8 percent gain. "The euro got oversold and recovered, but who wants to go home short for the holiday weekend with Iran and all the geopolitical powder kegs out there? This is just a bit of short covering," said Rich Ilczyszyn, chief market strategist ...

(Reuters) - Oil rose on Thursday as gains in the stock market and shortcovering helped shake off early losses caused by a rise in U.S. crude stockpiles. Crude dipped early after U.S. inventory data showed an unexpected build in stockpiles last week, adding to pressure from the dollar's gain against the euro, which weighed on dollar-denominated commodities. Crude turned positive in the afternoon as the euro rebounded and stock markets rose, putting Brent crude on track for gains of 13 percent for the year and U.S. oil futures in line for an 8 percent gain. "The euro got oversold and recovered, but who wants to go home short for the holiday weekend with Iran and all the geopolitical powder kegs out there? This is just a bit of short covering," said Rich Ilczyszyn, chief market strategist ...

(Reuters) - Oil fell for a second straight session on Thursday, weighed down by U.S. data showing an unexpected build in crude stockpiles last week and a drop in the euro against the dollar. U.S. crude stockpiles shot up 3.9 million barrels in the week to December 23, data from the U.S. Energy Information showed, as imports rebounded following shipping delays earlier in the month due to fog in the Houston Shipping Channel. While the build was smaller than that reported by the American Petroleum Institute on Wednesday, it comes at a time when refiners typically draw down stockpiles for year-end accounting purposes and helped offset concerns about Iran's threats to shut the Strait of Hormuz, a vital oil shipping route. "This is a pretty bearish report, but we have a couple of ...