Venezuela On The Brink Of Collapse

Venezuela DeclineOPEC oil cuts may take a surprising turn. Venezuela which has been one of the most vocal members over the past 2 years, trying to get price boosts, might have its state oil company collapse. PDVSA, which is Venezuela’s only lifeline, is about to default on its bonds. This follows years of declining production, an endemic lack of appropriate investment in infrastructure to sustain productivity, and rampant mismanagement. Should PDVSA collapse, investors will probably have to take the hit, but it is Venezuelans who will be left reeling. In the meantime other OPEC members could be the unexpected winners in the short term.

In effect, Venezuela has exhausted every single option it had. Turning PDVSA into a cash cow, responsible for 95% of exports and virtually the country’s only source of foreign currency, left the South American nation vulnerable. Now with China refusing to lend it more money and record low foreign reserves to tap into – Venezuela has about $12 billion USD left in foreign reserves – oil price recovery will not be enough to extricate the country from the hole it dug for itself. read more…

Oil Giving Back Some Of Its Gains

Oil price downAs expected, oil is giving back some of its gains. OPEC’s recent deal to curb production and keep it within the 32.5 and 33 million barrels of oil per day, was the main driver behind the recent surge that saw WTI prices touching 15 month highs. Nevertheless, OPEC is widely known for consistently exceeding self-imposed production quotas. This, and other factors have contributed to the dip, that may not become as accentuated as the ones seen previously throughout the year, but could well keep prices at or even below the $50 USD mark.

Oil prices could fall back even further especially if the Fed hikes rates. A stronger US Dollar coming from tightening monetary policy, should impact oil prices negatively. This is due to the fact that oil is traded in US Dollars, so if the greenback is stronger the price of oil has to react accordingly. This, added to the fact that OPEC’s deal may fall short, due to increasing production in Libya, Nigeria and Iran, could see WTI finishing the year right around or slightly below the $50 USD mark. read more…

Great Opportunity Opening Up As Gold Plummets

GoldThe price of gold has seen a great decline in the past few weeks. Gold has closed down in 7 of the last 8 market sessions, sending some mining stocks down. But this is merely a sign that the Fed will finally raise rates this year, probably in December before year’s end. Gold, which is a non-interest bearing asset, tends to lose ground whenever interest rates increase. Nevertheless, it is important to understand the wider context of the markets to properly assess whether or not the lower prices represent an opportunity to buy, or whether the price of this commodity is closer to a more prolonged bear market.

The first aspect to consider under the current state of affairs in the global economy, is the fact that despite a likely Fed hike before year’s end, interest rates are holding at historic lows. If the rate hike goes through, it will be a 25 basis points increase, putting the overnight rates at 0.75%. read more…

Google Building New HQ In London Despite Brexit

Google HQ in LondonBrexit is back in the headlines. With the British Pound taking a hit and sinking to new 31 year lows, and the British government getting entangled in all kinds of mind boggling messages about the future of foreign nationals working in the UK, it would be strange to have some of the largest corporations on earth investing in new office space in Britain. But despite the growing anxiety that a ‘hard Brexit’ may cause, a lower Sterling creates precisely the kind of opportunity that many would like to jump at. Google is one of the players poised to take advantage of the situation.

A weaker pound does serve as an incentive to invest in the UK. After all this is still a G7 nation, with fantastic infrastructure, a great market for human talent and the fifth largest economy on earth. This means investors will flock in, especially if they are in the high-tech sector. This is a sector that know no boundaries, because it relies on the borderless internet, and the UK has a history as a leader in technological development. read more…

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The Binary Options Wolf Den

Binary Options a Scam?The binary options industry has always been an industry dominated by dubious organizations. Just recently we have been seeing more and more efforts to expose the overwhelming amount of scammers that run it. Governmental organizations and financial regulators across the globe have been actively looking for the wolves who are running all the scamming activities. It seems that these wolves are particularly crafty and they have been able to avoid legal sanctions with unparalleled guile. read more…

Financial Markets – Preview for Week Starting 16th October 2016

Major Events of Last Week

Financial MarketGlobal equities were lifted last Friday after China posted encouraging inflationary data which registered an increase for the first time in five years. The British pound also staged a comeback late last week after the Bank of England advised that it was not overly concerned about Sterling’s 20% recorded since the United Kingdom voted to exit the European Union. Increasing discretionary spending and improving motor sales helped US retail sales regain their composure during September. The premier US indices raced higher last Friday epitomized by the Dow Jones Industrial Average soaring by 66 points; the S&P500 rising by 4 points and the NASDAQ climbing by 9 points. read more…

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Santa Effect on Bitcoin?

santa-bitcoinThere is no doubt that 2015 has been full of economic volatility. From the price of oil, to stocks, indices and the economic performance of key countries, it has been a year in which finding a safe haven was an almost impossible mission. From within all the volatility, is seems that one of the best performers was Bitcoin. However, it also dipped after a stark rise in October, but it seems to be picking up steam again towards the year’s end. Maybe it is a kind of ‘Santa Claus Rally’ for a strange mix of investors.
read more…

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