Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Possible Hard Landing In China Depresses Markets

admin by admin
August 10, 2012
in Uncategorized
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

Opening Market Commentary For 08-10-2012

Might be an interesting day depending on how Mr. Market conceives the news coming in from China and Europe depicting a slowing economy. The premarkets were down as the DOW was off 50 points and the 500 off 8 points. By the opening oils had dropped almost 3 points, gold off 11 and copper off 6 cents. That changed as gold jumped 14 points to 1620

Opening volume was very low and the averages opened mixed as investors took a back-seat approach looking for trending signs. With a growing possibility of a hard landing in China and continuing fears about Europe engaging in a double dip recession Friday’s session opened lower and then increased the decent with volume turning to red, but still low. By the 10 minute slice the red volume slowly increased to moderate as investors started looking at profit taking while they still could.

Foxnews reported, “[US] Import Prices fell 0.6% in July from June, the fourth straight month of declines, while Export Prices ticked up 0.5%. Economists expected import prices to rise 0.1% and export prices to hold steady.” The premarket indicated a slight rise on the news but then continued to melt down as the opening bell got closer.

@telegraph:

Finland’s prime minister says the ECB cannot solve the eurozone debt crisis on its own, as Chinese exports slump in July on a 16pc fall on demand from the EU.

Bankia shares slumped by more than 25pc this morning after the fund in charge of bailing-out Spain’s troubled banks reminded everyone that “shareholders will have to participate in covering the cost of the clean-up processes”.

[European]Stock markets are still trading slightly lower. Chris Beauchamp at IG Index comments on this morning’s market movers:

Yet another set of weak Chinese data prompted a period of selling this morning, as import and export growth both slowed markedly in the world’s second-largest economy during July. Doubts were raised about the effectiveness of further stimulus in China, but this week’s low-volume rally has managed to persist despite poorer figures from around the world. A rise in Spanish short-term yields and the continued drop of the euro, which is back below $1.23 once again, shows that the calm engendered by the ECB meeting last week might finally be wearing off.

@bloomberg:_______

China Export Growth Slides As World Recovery Slows

China’s export growth collapsed and imports and new yuan loans trailed estimates in July, adding to signs the global economy is weakening and raising the odds the government will step up measures to support expansion.

“Monetary policy easing has to be more aggressive in the remainder of the year,” said Liu Li-Gang, Hong Kong-based head of Greater China economics at Australia & New Zealand Banking Group Ltd. He said there’s a risk of a “hard landing” and the government may lower banks’ reserve requirements as soon as today.

Exports present the biggest uncertainty to China’s outlook, Song Guoqing, an adviser to the People’s Bank of China, said last month. He estimated economic growth may slow to 7.4 percent this quarter.

Zerohedge reports, “As reported on Wednesday night, China’s economy is contracting faster than anyone expected. As further reported last night, China loan creation at 540.1 billion yuan was far below economist estimates of 700 billion. In other words: the world’s marginal economy is starting to crack.”

By 10 am the markets had established themselves down but serious buying slowed the decent leaving a candle looking like a hanging man. Actually this action looks more like HFT than anything else and any bullish attempt to keep the market from descending further is suspect at this point. Very strange market movements that can only be attributed to DaBoyz and HFT manipulating market prices.

The DOW at 10:00 is at 13117 down 48 or -0.37%.

The 500 is at 1398 down 4.00 or -0.27%.

The $RUT is at 799.75 down 3.09 or -0.38%.

SPY is at 140.33 down 0.22 or 0.16%.

The trend is neutral and the current bias is down.

 

WTI oil is at 92.21 trading between 93.70 and 91.75 and the bias is negative.

Brent crude is at 112.02 trading between 113.35 and 111.32 and the bias is negative.

Gold is up today at 1616 trading between 1620 and 1605 with a positive bias.

Dr. Copper is at 3.37 down from 3.42 earlier.

Earlier the USD rose from 82.59 yesterday to 82.92 this morning and is at 82.88.

European markets are down today in the wake of negative news coming from China. The FTSE 100 in London is down –0.31% while the German DAX is off –0.79%. The CAC 40 in France is also off at –1.10%. The Asian markets closed down with the Hang Seng at –0.66. The Shanghai Composite down –0.24%. The Nikkei down –0.97%.

@SpiegelOnline_____

Draghi’s Pledge ECB Divided over Efforts to Save Euro

ECB head Mario Draghi wants to save the euro at all costs. But the pledge has created discord within the bank’s governing council. Many oppose plans to buy up sovereign bonds from troubled euro-zone member states, fearing it could just make things worse.

@zerohedge:

Surveying The Landscape

Look around. Take a good long and hard look because the data is becoming unsettling and it is pouring in from all over the world.

In China, where a hard landing was thought to have been avoided; one moment please, not so fast. The world’s growth engine is sputtering and there will be consequences. In Europe the situation is dramatically worsening with virtually every country in a recession with the notable exception of Germany though we predict they will join the club by the fourth quarter of this year or by the first quarter of next year.

For those that think that the Fed will save the day, if not the planet, we suggest to you that you may be in for an unpleasant surprise. There is only so much they can do now and each Fed action is being met by a less and less reaction in the markets and of a shorter duration.

 

To contact me with suggestions or deserved praise:

[email protected]

Written by Gary

Previous Post

Mitt Romney vs. Deng Xiaoping

Next Post

ECRI’s Weekly Leading Indicator Growth Unchanged for w/e 03 August2012

Related Posts

Riot Blockchain’s BTC Mining Productivity Lost 28% YOY Amid Record Texas Heat
Business

Riot Blockchain’s BTC Mining Productivity Lost 28% YOY Amid Record Texas Heat

by John Wanguba
August 8, 2022
Musk Challenged Twitter CEO To Public Debate On Bots
Business

Musk Challenged Twitter CEO To Public Debate On Bots

by John Wanguba
August 8, 2022
BlackRock Partners With Coinbase
Business

BlackRock Partners With Coinbase

by John Wanguba
August 7, 2022
Bank Of Thailand To Unleash Retail CBDC Pilot
Economics

Bank Of Thailand To Unleash Retail CBDC Pilot

by John Wanguba
August 6, 2022
Obscure Fintech (AMTD Digital) Reaches $310B Valuation In GameStop-Style Explosive Surge
Business

Obscure Fintech (AMTD Digital) Reaches $310B Valuation In GameStop-Style Explosive Surge

by John Wanguba
August 5, 2022
Next Post

ECRI's Weekly Leading Indicator Growth Unchanged for w/e 03 August2012

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins banking banks Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business China Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum finance funding inflation investment market analysis markets Metaverse mining NFT NFTs nonfungible tokens nonfungible tokens (NFTs) price analysis regulation Russia social media technology Tesla the US Twitter

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Riot Blockchain’s BTC Mining Productivity Lost 28% YOY Amid Record Texas Heat
  • Musk Challenged Twitter CEO To Public Debate On Bots
  • BlackRock Partners With Coinbase

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish