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Wednesday, December 07, 2016

US EIA weekly oil inventories -2389k vs -1500k exp

  • Prior -884k
  • Cushing 3783k vs 256k exp. Prior 2419k
  • Gasoline 3425k vs 1600k exp. Prior 2097k
  • Distillates 2501k vs 2000k exp. Prior 4957k
  • Refinery utilisation 0.6% vs 1.0% exp. Prior -1.0%
  • Production 8.697m vs 8.699m prior
A bigger draw than expected here but not as unexpected after the 'Oil report that shall not be named' also showed a bigger draw. Production was pretty flat. There's still the whiff of the OPEC deal floating around but once that's all done and dusted, we'll likely get back to seeing the market move more in this report.
WTI managed a 50.20/55 range on the news.

Islamic finance set to change gold market

http://www.khaleejtimes.com/islamic-finance-set-to-change-gold-market

We don't have the full details of the guidelines but expect to find out more this week at the World Islamic Banking Conference. However, we do know three things that the new Shariah gold-standard will achieve: first, it will increase both the number and diversity of available Shariah-compliant gold investment products; second, it will place far greater emphasis on the role of physical gold in gold transactions; finally, it will give a greater role to Islamic finance in the setting of the gold price...
If Islamic Finance institutions were to allocate just one per cent of assets into new gold products then we would expect to see demand climb by about 500-1000 tonnes, per annum. Given that recent demand and supply figures showed a surplus of just 172 tonnes of gold in the market, we could begin to see some tightening with the increase of Shariah-compliant gold instruments, which will have a positive impact on the price.

Prime Minister John Key Named as Ideal Candidate to Head International Monetary Fund

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11762219

Outgoing Prime Minister John Key has been tipped as a potential candidate to head the International Monetary Fund, an appointment signed off by US President Barack Obama.
An article on MSC Newswire says Key’s background in international finance would make him an ideal candidate to replace Christine Lagarde as the managing director of the IMF. Lagarde has been ordered to stand trial in France over what became known as the Tapie Affair.
“Mr Key has the required money market experience. He has run a country. He has backed President Obama’s showpiece international thrusts, the TPPA, and the Paris Climate.

JOLT job openings for October 5.534M vs 5.500M estimate

The JOLTs job openings for the month of October fell to 5.534M from a revised 5.631M last month (was 5.486). 

  • The number of hires was essentially unchanged at 5.1 million in October. The hires rate was 3.5 percent. The number of hires was little changed for total private and for government. Hires decreased in state and local government education (-26,000) and was little changed in all other industries. The number of hires was little changed in all four regions. 
  • There were 4.9 million total separations in October, little changed from September. The total separations rate in October was 3.4 percent. The number of total separations was little changed for total private and decreased for government (-39,000). Total separations decreased in state and local government education (-26,000), information (-20,000), and federal government (-7,000). The number of total separations was little changed in all four regions.

Judicial Watch Asks Court to Unseal Videos of Depositions in Hillary Clinton Email Case

https://www.judicialwatch.org/press-room/press-releases/judicial-watch-asks-court-unseal-videos-depositions-hillary-clinton-email-case/

Judicial Watch today announced it filed a motion that seeks to unseal the audiovisual recordings of the depositions of top Clinton aides and State Department officials.
The depositions come in connection with a Judicial Watch Freedom of Information Act (FOIA) lawsuit that seeks records about the controversial employment status of Huma Abedin, deputy chief of staff to former Secretary Clinton (Judicial Watch v. U.S. Department of State (No. 1:13-cv-01363)). Judicial Watch argues that “even though the election is over, the news media and the public continue to monitor and follow the proceedings in this case.”

Indonesia: At least 24 dead after 6.4M earthquake rocks Aceh province

A powerful earthquake has rocked northern Indonesia leaving as many as 97 people dead and several hundred injured.

The magnitude 6.5 quake struck off the coast of Sumatra Island in the early hours of Wednesday, where dozens of buildings have collapsed and many people are feared trapped under rubble.

Nasdaq only needs to move a little higher, to just under Nov highs, to trigger Diamond top rollover

http://stocktwits.com/home#people-and-stocks:243931


When it feels like 1929, quit the markets and go gold prospecting

https://hat4uk.wordpress.com/2016/12/07/when-it-feels-like-1929-quit-the-markets-and-go-gold-prospecting/

As usual over the last five or six working days, I’ve been Channel surfing, and generally ringing round to gauge reactions to probably the most surreal year of my lifetime. Doing so has confirmed my sense of something beyond bullish taking place. What we’re seeing now isn’t a bull run: it’s a drove of pigs jostling with each other in their haste to get to the cliff edge, where their ability to fly will become apparent to all.
Except pigs can’t fly. It’s one of many reasons why bacon is never in short supply.

Anonymous - Wikileaks and the Rothschild Connection

Turkey Calls for CURRENCY WAR Against U.S. Dollar! China and Russia!