Commodities Archive
Independent: Middle East In Talks With China, Russia To End Dollar Dealing For Oil
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket ...
Posted by Greg Feirman · No Comments »
Is The Commodity Rally A Head Fake?
China’s strategic stockpiling and replacement of lower-quality domestic production with higher-quality imports have supported the recent rally in prices for many base metals, but we will not see a sustainable turnaround in demand until the ...
Posted by Greg Feirman · No Comments »
NYT: China Grows More Picky About Debt
China bought less than a sixth of the Treasuries issued in the 12 months through March. Less than two years ago, by contrast, Chinese purchases of Treasuries, which included purchases in the secondary market as ...
Posted by Greg Feirman · No Comments »
Dollar Selloff Is Risk To Stock Market
March 19, 2009 · Category: Commodities, Currencies, Federal Reserve, Gold, Inflation, Market Commentary
The dollar continues to tank and commodities continue to rally in the wake of yesteday's Fed announcement:
The euro is up another 2 cents versus the dollar to $1.37 - after rallying 4 cents yesterday after ...
Posted by Greg Feirman · No Comments »
Capitulation In Freeport McMoran
We are responding aggressively to the current market conditions which have weakened dramatically in recent weeks. These revisions to our plans will allow us to reduce operating costs and capital spending, adjust our production profile ...
Posted by Greg Feirman · No Comments »
The Next Bubble
With the Fed slashing the funds rate to 1% today, it's worth remembering what happened the last time they did this: We got the most massive housing bubble in the history of mankind.
Well, today, in ...
Posted by Greg Feirman · No Comments »
Fed To Market: Helicopters In Position
As expected, the Fed today cut the funds rate 50 basis points from 1.5% to 1.0%.
But I don't think enough attention is being paid to the statement. The Fed appears to me to have completely ...
Posted by Greg Feirman · No Comments »
Freeport McMoran Now Attractive - An Example Of Emerging Value
About 6 months ago I wrote a post arguing that copper giant Freeport McMoran (FCX) was overvalued ("Freeport Valuation Bloated Here", Top Gun FP, April 23, 2008). At the time, Freeport was trading at $118 ...
Posted by Greg Feirman · No Comments »
Why I Got Long Oil Today
I think oil is starting to become oversold in the way the financials were a month ago:
At $113 a barrel oil is down about 23% from its highs last month.
The 200 DMA (Day Moving Average) ...
Posted by Greg Feirman · No Comments »
Goldman Calls a Bottom In The Dollar
Dollar strength will not be a straight line..... nevertheless, dollar lows are almost certainly behind us.
- "Calling A Bottom In The Dollar", Goldman Sachs
... the euro 'rubber band' is stretched as far as it's ever ...
Posted by Greg Feirman · No Comments »
