FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 23 November 2015

Early Headlines: Commodities Slide, 20 Dollar Oil, Muslim US City, French Rush To Enlist, Morocco Giant Solar City, Saudi Black Swan And More

Written by Econintersect

Early Bird Headlines 23 November 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.


Note: From now to 03 December there may be occasions where Early Bird appears at irregular times and may have some shorter than usual content because 1/2 of our limited staff is on vacation.


  • Euro and commodities skid, Asia stocks mixed (Reuters) The euro sagged to a seven-month trough on Monday as the prospect of more policy easing in Europe benefited the U.S. dollar, while activity in Asian shares was crimped by a holiday in Japan. The strength of the dollar also combined with worries about Chinese demand to clobber commodity prices again, sending copper to its lowest in over six years.

  • Hedge Funds Are Back to Bearish on Gold as Price Slump Deepens (Bloomberg) Prices are trapped in their worst rout since July as Federal Reserve officials talk up improvements for the U.S. economy and reinforce signs that they're ready to raise borrowing costs for the first time since 2006. That prospect has sent investors fleeing. Assets in exchange-traded products backed by gold have fallen to the lowest since 2009. Money managers are holding a net-short position in the metal for first time since August as their long wagers shrunk to the smallest in seven years.



  • In the first majority-Muslim U.S. city, residents tense about its future (The Washington Post, MSN News) In 2013 Hamtramck, Michigan earned the distinction of becoming what appears to be the first majority-Muslim city in the United States following the arrival of thousands of immigrants from Yemen, Bangladesh and Bosnia over a decade. Four of six city council members are Muslim, but, rather than considering Sharia law, the Muslims in this Detroit-area city appear to be more concerned with becomong more American, five calls to prayer daily not withstanding.



  • Defence review: 'Strike brigades' to be created by 2025 (BBC News) David Cameron will give details of an additional £12 billion ($18 billion) of equipment spending, as he outlines the Strategic Defence and Security Review in the Commons. He proposes to add two 5,000-strong "strike brigades" that can be rapidly deployed are to be created by 2025 to help the UK respond to "diverse" threats.



  • Moroccan solar plant to bring energy to a million people (BBC News) A giant solar thermal plant at Ouarzazate, Morocco will harness the Sun's warmth to melt salt, which will hold its heat to power a steam turbine in the evening. The first phase will generate for three hours after dark; the last stage aims to supply power 20 hours a day. It is part of Morocco's pledge to get 42% of its electricity from renewables by 2020.

Saudi Arabia

  • Cut Oil Supply or Drop Riyal Peg? Saudis Face 'Critical' Choice (Bloomberg) Saudi Arabia is pumping record amounts of oil this year, leading OPEC's effort to defend market share even as Brent crude trades near the lowest level in six years. The slide in oil revenue has forced the kingdom to tap savings and sell debt to preserve its 30-year-old peg to the dollar. Bank of America Corp. says that may mean the country faces a "critical" choice next year: either cut production to help boost prices or adjust the riyal's rate to stem the decline in foreign reserves. Bank of America strategists, led by Francisco Blanch in New York, wrote in a Nov. 19 report:

"A depeg of the Saudi riyal is our number one black-swan event for the global oil market in 2016, a highly unlikely but highly impactful risk. It is a lot easier politically to implement a modest supply cut at first than allow for a full-blown currency devaluation."


  • China Pulled Further Into Syria Crisis Amid Terrorism Threat (Bloomberg) The violence swirling out from Syria in recent weeks is pressuring China to step off the sidelines and take a more active role in international efforts to stem the conflict. The execution of a Chinese captive announced by Islamic State on Wednesday -- the first such killing -- showed the country isn't beyond the reach of a group that has claimed responsibility for recent attacks in Beirut, Paris and Egypt's Sinai Peninsula. Moreover, Russia's decision to launch airstrikes to support the Syrian government has left China increasingly alone in opposing military intervention in a civil war that has fueled Islamic State's rise.


  • 'Kirchner era' ends with opposition win in Argentina (Associated Press) President-elect Mauricio Macri's promises to revitalize Argentina's sagging economy with free-market reforms and improve strained relations with the United States resonated with voters, carrying him to a historic win that ended 12 years of often-conflictive rule by President Cristina Fernandez and her late husband. But when the business-friendly opposition candidate takes office Dec. 10, he will inherit a country with around 30% inflation, near-zero economic growth and entrenched government social spending that private economists warn is not sustainable. He also lacks majorities in either chamber of Congress to pass his deep reforms.


  • Venezuela Sees Crude in Mid-$20s If OPEC Doesn't Act (Bloomberg) Oil prices may drop to as low as the mid-$20s a barrel unless OPEC takes action to stabilize the market, Venezuelan Oil Minister Eulogio Del Pino said. Venezuela is urging the Organization of Petroleum Exporting Countries to adopt an "equilibrium price" that covers the cost of new investment in production capacity, Del Pino told reporters Sunday in Tehran. Saudi Arabia and Qatar are considering his country's proposal for an equilibrium price at $88 a barrel, he said.


  • Oil Deal of the Year: Mexico Set for $6 Billion Hedging Windfall (Bloomberg) Mexico is set to get a record payout of at least $6 billion from its oil hedges this year, according to data compiled by Bloomberg. The Latin American country locks in oil sales as a shield against price declines through a series of financial deals with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. For 2015, Mexico guaranteed sales at almost $30 a barrel higher than average prices over the past year.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
Run A High Pressure Economy? Janet Yellen Does Not Understand the Problem
Comments on Feyerabend’s ‘Against Method’, Part III
News Blog
Inside The Machine: How Two Nobel Winners Taught Us How Companies Tick
Healthcare's Dirty Little Secret: Results From Many Clinical Trials Are Unreliable
The Cleveland Indian's Unique Use Of Andrew Miller
What We Read Today 26 October 2016
Why Do So Many Price Tags End In .99
September 2016 New Home Sales Improve.
Higher GDP Growth In The Long Run Requires Higher Productivity Growth
Quantum Encryption Is Secure Because Information Encoded In A Quantum Particle Is Destroyed As Soon As It Is Measured
The Stock Market Is Up, But Mutual Fund Investors Are Fleeing
Infographic Of The Day: Google's Hidden Games
Early Headlines: Asia Srocks Mostly Lower, Energy HY Bonds Surge, Google Fiber Cutback, Shadow Banks Dominate Mortgages, NATO Crowds Russia, Coffee Surges And More
Top 10 American Misconceptions about China (Version 3)
Documentary Of The Week: Job Buffers Are More Efficient Than Unemployment Buffers
Investing Blog
Apple's First Annual Sales Decline In 15 Years
Cycle Transition Is In Question
Opinion Blog
A Hard Brexit And Reduced Migration Won't Benefit UK Workers
What Triggers Collapse?
Precious Metals Blog
Inflation Surging As Platinum Signals Stock Market Decline
Live Markets
26Oct2016 Market Close: US Markets Close Lower, Boeing Shares Up, Texas Tea Stabilizes In Low 49's, Gold Falls To 1266, Friday's Fed Rate Change Promises To Be A Game Changer
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

Crowdfunding ....



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved