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Sat, 27th May 2017

Anirudh Sethi Report

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Spare 5-7 minutes & Read Some Facts

Some Facts About Anirudh Sethi in Relate to www.AnirudhSethiReport.com

-AnirudhSethiReport is now owned by ANIRUDH SETHI  (Only Name been used by Real Owner )

-Twitter Id : anirudhsethi71 (Not owned by Anirudh Sethi )

-Anirudh Sethi :Has never Authored any Article in Relate to Indian Stocks/Indices /Commodities of Indian Stocks.

Yes ,Before Regulation came :

http://www.anirudhsethireport.com/good-things-must-come-end-eyes-30th-dec-2013/

http://www.anirudhsethireport.com/without-reason-nothing-happens-watch-25th-dec14/

Focus by Anirudh Sethi was /Still there :To Track Global Economy ,Global Market ,Forex Market ,Global Commodity Market.

To Organize Seminars on TA/Trading Psychology.

Yes ,Members been made but for Global Market/Commodity Market/For Seminar purpose.

Not Any Where it is written :Anirudh Sethi says this :Buy /Sell or Hold !!

Not Any Where it is written :This is Official Twitter Trading Account of ANIRUDH SETHI

Every Important post is for Members & that too password protected.

Think it over…………………………………

By Banning Anirudh Sethi ,Readers/Traders :Don’t know Fact they just do BLA BLA.

For ANIRUDH SETHI name is important ,Across Globe people Recognise him by name not by Sensex/Nifty or Stocks.

In 2007 ,Focus was Technical Analysis ,Now also Focus is on TA :Already Boldly mentioned on 30th Dec 2013 & 25th Dec ’14 :Stopped writing about Stocks/Commodity.

Emerging Market :An Update

  • Moody’s downgraded China’s rating from Aa3 to A1 with stable outlook.
  • Reports suggest that the PBOC has informed local banks that it is changing the way it sets the daily fix.
  • Moody’s downgraded Hong Kong’s rating to Aa2 from Aa1 with stable outlook.
  • Philippine President Duterte declared martial law on Mindanao island.
  • Egypt’s central bank unexpectedly hiked rates by 200 bp.
  • S&P moved the outlook on Bolivia’s BB rating from stable to negative.
  • Reports suggest Brazil President Temer is losing support from his own PMDB.
In the EM equity space as measured by MSCI, Korea (+2.9%), Brazil (+2.7%), and Turkey (+2.6%) have outperformed this week, while Hungary (-2.9%), Indonesia (-1.3%), and UAE (-1.2%) have underperformed.  To put this in better context, MSCI EM rose 2.1% this week while MSCI DM rose 0.9%.
In the EM local currency bond space, Brazil (10-year yield -94 bp), South Africa (-12 bp), and Thailand (-10 bp) have outperformed this week, while Russia (10-year yield +12 bp), Colombia (+2 bp), and Mexico (+2 bp) have underperformed.  To put this in better context, the 10-year UST yield was flat at 2.24%. 
In the EM FX space, ZAR (+2.9% vs. USD), MXN (+1.3% vs. USD), and MYR (+1.2% vs. USD) have outperformed this week, while COP (-0.9% vs. USD), BRL (-0.4% vs. USD), and PEN (-0.1% vs. USD) have underperformed. 

Overnight : S&P 500 closes at record high for third straight day

The S&P 500 and Nasdaq Composite inched forward just 0.7 and 4.9 points respectively to new highs on Friday.

The US stock indices were nearly unchanged throughout the trading day and the S&P 500 ended flat at 2,415.80 while the Dow Jones Industrial Average was also nearly unchanged at 21,080.11. The Nasdaq Composite eked out a modest 0.1 per cent gain to end the day at 6,210.20.

For the S&P 500, the record close was the 20th closing high of this year and the 28th record high since the US presidential election. In all of 2016, by comparison, the S&P 500 notched 18 record closings, according to data from S&P Dow Jones indices.

The price of oil had its steepest fall on Thursday in three weeks after Opec said it would extend output cuts as investors appeared disappointed by the agreement. After paring back some losses on Friday, however, Brent crude settled 2.7 per lower for the week. Stocks within the S&P 500 energy index lost 2.2 per cent over the same period.

Elsewhere, the US dollar index measuring the buck against a basket of its peers was also 0.28 per cent higher at 97.417.

European Indices end mostly lower on the day

Closes are well off the lows though.   For the week a mixed result.

For the day, most of the European indices were lower. However, they are a good way off the  lows.
  • German DAX fell by -0.2%. The low reached one point 12,529.51. The high extended to 12,611.49.  The index closed at 12602.18.
  • France’s CAC index  fell by -0.1%. Its low reached 5282.42. The high 5336.76. The index closed at 5331.58.
  • Spain’s Ibex fell by -0.1%. The low reached 10,801.60 while the high extended to 10,918.80. The index closed at 10,887.40.
  • Italy’s FTSE MIB fell by -0.38%. The low reached 21,001.29 while the high extended to 21,245.73.  The index closed at 21,200.78
  • UK FTSE bucked the trend with a gain of +0.5%. The low reached 7514.39, while the high extended to 7554.21. The index closed at 7547.63
For the week:
  • German DAX fell by -0.29%
  • France CAC rose by 0.23%
  • Spain IBEX rose by 0.48%
  • Italy FTSE MIB fell by -1.66%
  • UK FTSE rose by 1.03%

When Economists get news they don’t want to hear

The problem with predictions and ego

Pickup and economists research note from the past month and it’s likely to say the same thing — the Fed is going to hike in June.

Everyone is singing from the same hymnbook. The problem is that the Fed is the piano player and yesterday changed its tune. This is the line in the FOMC Minutes:

“Members generally judged that it would be prudent to await additional evidence indicating that the recent slowing in the pace of economic activity had been transitory before taking another step in removing accommodation.”

That can’t be misunderstood.

What it says is that if economic data continues to be soft, they’re not hiking in June.

That doesn’t mean that a hike is off the table but it certainly means that it’s not a sure thing.

Here are a few data points since the May 3 meeting:

  • Q1 nonfarm productivity -0.6% vs -0.1% exp
  • Factory orders +0.2% vs +0.4% exp
  • Nonfarm payrolls 211K vs 190K exp
  • Avg hourly earnings 2.5% vs 2.7% y/y exp
  • JOLTS 5743K vs 5725K exp
  • Core PPI +0.7% vs +0.2% exp
  • CPI +2.2% y/y vs +2.3% exp
  • Retail sales control group +0.2% vs +0.4%
  • Empire Fed -1.0 vs +7.5 exp
  • NAHB housing market index 70 vs 68 exp
  • Housing starts 1172K vs 1260K exp
  • Building permits 1229K vs 1270K exp
  • Industrial production +1.0% vs +0.4%

Overnight US Market : S&P ,Nasdaq sets another record (what’s new?).

S&P ends up 0.44%. Nasdaq up 0.69%

Yes…it is another record for US stocks today.
  • The S&P is ending up 0.44% to 2415.07. The high reached 2418.71. The low 2408.01
  • The Nasdaq is ending up 42.234 points or 0.69% to 6205.25. The high reached 6217.34. The low 6174.52
  • The Dow is closing up 21082.95. The high reached 21112.32.  The low 21051.41.  The index was up 0.34% (closed at 21082.95).

Algerian oil minister loses his job during the OPEC meeting

Algeria cabinet shuffle takes place during meeting

Algerian oil minister Noureddine Boutarfa was informed that he will be replaced midway through today’s OPEC meeting.

As part of broader cabinet changes, Boutarfa was replaced by Sonelgaz CEO Mustapha Guitouni as energy minister. The moves follow a May 4 election.

The change is a loss for OPEC as Boutarfa was seen as a mediator and dealmaker. He was pivotal in brokering the initial OPEC/non-OPEC deal.