Psiptek nta is 0.59. Share price 0.13

Inflation data pulls USD lower
AUGUST 14, 20177:36AM
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THE Australian dollar is higher against its US counterpart which has eased after disappointing US inflation data. At 0635 AEST on Monday, the Australian dollar was worth 78.89 US cents, up from 78.58 US cents on Friday.
Westpac’s Imre Speizer said disappointing US inflation report helped push the greenback down.
The US consumer price index (CPI) disappointed for the fifth consecutive month, with its core measure at 0.1 per cent, versus an expected 0.2 per cent, leaving the annual rate at 1.7 per cent, against the expected 1.8 per cent. “The US dollar index closed down 0.4 per cent ... (while the) AUD rose from 0,7844,” he said in a morning note.

ANALYSIS | 00:07 GMT
Disappointing U.S. Inflation sends U.S. Dollar lower
OzForex Research OzForex Research
OzForex Foreign Exchange
AUD / USD
Expected Range: 0.7850 – 0.7950

The Australian Dollar edged marginally higher into the close on Friday briefly edging back through 0.79 U.S cents. With little domestic data on hand to drive direction the AUD remained at the mercy of wider risk flows and touched intraday lows at 0.7844. As global political tensions escalate investors continued to seek haven assets bolstering demand for the CHF and JPY dampening demand for the AUD as a carry trade option. However weaker U.S inflation data helped fuel a late upturn and drove the AUD through 0.79 to touch intraday highs at 0.7908. Consumer prices rose at a slower pace than expected in July stifling investors’ expectations for multiple Federal Reserve rate hikes into the end of the year. Opening this morning buying 0.7889 U.S cents attentions now turn to Tuesday’s RBA meeting minutes and Thursday’s labour market data for direction through the week ahead.



NZD / USD
Expected Range: 0.7250 – 0.7350

The New Zealand Dollar rallied into the close on Friday bolstered by softer than anticipated U.S inflation data. Having touched intraweek lows at 0.7258 the Kiwi’s weekly decline stalled as consumer prices in the U.S advanced at a slower pace than anticipated throughout July. The softer print forced a wider USD sell off and allowed the New Zealand dollar to move back through 0.73. Attentions now turn to today’s domestic retail print for direction into the start of the week.



GBP / AUD
Expected Range: 1.6400 – 1.6600

The Great British Pound finished the week weaker against the Greenback, for a second consecutive week, dominated by risk aversion. The Sterling reached a Friday low of 1.2939. Looking ahead this week on the local data front all attentions turn to Tuesdays July inflation figures with CPI and PPI scheduled. On Thursday we will see the release of retail price index also for the month of July. The GBP/USD pair is currently trading at 1.3007. We now expect support to hold on moves approaching 1.2980 while any upward push will likely meet resistance around 1.3030.

ANALYSIS | 00:07 GMT
Disappointing U.S. Inflation sends U.S. Dollar lower
OzForex Research OzForex Research
OzForex Foreign Exchange
AUD / USD
Expected Range: 0.7850 – 0.7950

The Australian Dollar edged marginally higher into the close on Friday briefly edging back through 0.79 U.S cents. With little domestic data on hand to drive direction the AUD remained at the mercy of wider risk flows and touched intraday lows at 0.7844. As global political tensions escalate investors continued to seek haven assets bolstering demand for the CHF and JPY dampening demand for the AUD as a carry trade option. However weaker U.S inflation data helped fuel a late upturn and drove the AUD through 0.79 to touch intraday highs at 0.7908. Consumer prices rose at a slower pace than expected in July stifling investors’ expectations for multiple Federal Reserve rate hikes into the end of the year. Opening this morning buying 0.7889 U.S cents attentions now turn to Tuesday’s RBA meeting minutes and Thursday’s labour market data for direction through the week ahead.



NZD / USD
Expected Range: 0.7250 – 0.7350

The New Zealand Dollar rallied into the close on Friday bolstered by softer than anticipated U.S inflation data. Having touched intraweek lows at 0.7258 the Kiwi’s weekly decline stalled as consumer prices in the U.S advanced at a slower pace than anticipated throughout July. The softer print forced a wider USD sell off and allowed the New Zealand dollar to move back through 0.73. Attentions now turn to today’s domestic retail print for direction into the start of the week.



GBP / AUD
Expected Range: 1.6400 – 1.6600

The Great British Pound finished the week weaker against the Greenback, for a second consecutive week, dominated by risk aversion. The Sterling reached a Friday low of 1.2939. Looking ahead this week on the local data front all attentions turn to Tuesdays July inflation figures with CPI and PPI scheduled. On Thursday we will see the release of retail price index also for the month of July. The GBP/USD pair is currently trading at 1.3007. We now expect support to hold on moves approaching 1.2980 while any upward push will likely meet resistance around 1.3030.

Will reach lowest, hibernating and shot up after wake up.

Washington (CNN)North Korea's military is "examining the operational plan" to strike areas around the US territory of Guam with medium-to-long-range strategic ballistic missiles, state-run news agency KCNA said early Wednesday local time.

Specifically, the statement mentioned a potential strike on Andersen Air Force Base designed "to send a serious warning signal to the US."

Washington (CNN)North Korea's military is "examining the operational plan" to strike areas around the US territory of Guam with medium-to-long-range strategic ballistic missiles, state-run news agency KCNA said early Wednesday local time.

Specifically, the statement mentioned a potential strike on Andersen Air Force Base designed "to send a serious warning signal to the US."

Hong Kong dollar hits 10-year low against greenback
City's currency suffers sell-off for higher-yielding US dollar and yuan
JOYCE HO, Nikkei staff writer

HONG KONG -- The Hong Kong dollar hit its weakest level against the greenback in a decade on Tuesday, as flush liquidity continued to curb Hong Kong money market rates and spurred carry-trades for the higher-yielding dollar and yuan.

The local currency, pegged at 7.75-7.85 to the dollar, edged beyond 7.82 for the first time since August 2007, when the U.S. subprime mortgage crisis erupted. It breached the mid-point of the trading band in June, after a sustained devaluation since January.

The Hong Kong dollar is one of the few currencies in the region that has devalued against the U.S. dollar year-to-date, along with the Philippines peso and Sri Lankan rupee. It has so far weakened by 0.89%, while the Japanese yen and Australian dollar have risen 5.4% and 9.76% respectively.

"The recent weakness in [the Hong Kong dollar] is clearly a 'pricing phenomenon' on the back of a continued widening in the interest rate differential between the U.S. and Hong Kong," wrote Irene Cheung, senior strategist for Asia at the Australia and New Zealand Banking Group, in a note on August 4.

Hong Kong dollar hits 10-year low against greenback
City's currency suffers sell-off for higher-yielding US dollar and yuan
JOYCE HO, Nikkei staff writer

HONG KONG -- The Hong Kong dollar hit its weakest level against the greenback in a decade on Tuesday, as flush liquidity continued to curb Hong Kong money market rates and spurred carry-trades for the higher-yielding dollar and yuan.

The local currency, pegged at 7.75-7.85 to the dollar, edged beyond 7.82 for the first time since August 2007, when the U.S. subprime mortgage crisis erupted. It breached the mid-point of the trading band in June, after a sustained devaluation since January.

The Hong Kong dollar is one of the few currencies in the region that has devalued against the U.S. dollar year-to-date, along with the Philippines peso and Sri Lankan rupee. It has so far weakened by 0.89%, while the Japanese yen and Australian dollar have risen 5.4% and 9.76% respectively.

"The recent weakness in [the Hong Kong dollar] is clearly a 'pricing phenomenon' on the back of a continued widening in the interest rate differential between the U.S. and Hong Kong," wrote Irene Cheung, senior strategist for Asia at the Australia and New Zealand Banking Group, in a note on August 4.

Hong Kong dollar hits 10-year low against greenback
City's currency suffers sell-off for higher-yielding US dollar and yuan
JOYCE HO, Nikkei staff writer

HONG KONG -- The Hong Kong dollar hit its weakest level against the greenback in a decade on Tuesday, as flush liquidity continued to curb Hong Kong money market rates and spurred carry-trades for the higher-yielding dollar and yuan.

The local currency, pegged at 7.75-7.85 to the dollar, edged beyond 7.82 for the first time since August 2007, when the U.S. subprime mortgage crisis erupted. It breached the mid-point of the trading band in June, after a sustained devaluation since January.

The Hong Kong dollar is one of the few currencies in the region that has devalued against the U.S. dollar year-to-date, along with the Philippines peso and Sri Lankan rupee. It has so far weakened by 0.89%, while the Japanese yen and Australian dollar have risen 5.4% and 9.76% respectively.

"The recent weakness in [the Hong Kong dollar] is clearly a 'pricing phenomenon' on the back of a continued widening in the interest rate differential between the U.S. and Hong Kong," wrote Irene Cheung, senior strategist for Asia at the Australia and New Zealand Banking Group, in a note on August 4.

Don't care about the dividend. Important is the share price move up to 1.50 to 2.00, then sell it for $$$.

Bank Indonesia has prepared a draft bill on the redenomination of the Indonesian Rupiah (Draft Bill). The Draft Bill is aiming to improve the economic efficiency and to create smoother commercial transactions. The Draft Bill suggests to remove the final 3 digits of the current Rupiah. By removing the final three digits, the use of the Rupiah would be simplified, however the value of the Rupiah would remain the same.



Circulation Procedures of the New Indonesian Rupiah

The circulation of the new Rupiah will consist of two phases:

The First Phase (January 1, 2020 – December 31, 2024):
Bank Indonesia will issue and circulate the physical currency with the sign “new” incorporated onto the body of the money (First New Money).
The Old Rupiah can still be used as payment method, until its revocation on December 31, 2024
The Old Rupiah can still be exchanged at Bank Indonesia until December 31, 2034
The Second Phase (January 1, 2025 – December 31, 2028)
Bank Indonesia will issue and circulate the physical currency, without the sign “new” incorporated onto be body of the currency
The First New Money will be valid until its revocation on December 31, 2028
The First New Money can be exchanged at Bank Indonesia until December 31, 2038

Bank Indonesia has prepared a draft bill on the redenomination of the Indonesian Rupiah (Draft Bill). The Draft Bill is aiming to improve the economic efficiency and to create smoother commercial transactions. The Draft Bill suggests to remove the final 3 digits of the current Rupiah. By removing the final three digits, the use of the Rupiah would be simplified, however the value of the Rupiah would remain the same.



Circulation Procedures of the New Indonesian Rupiah

The circulation of the new Rupiah will consist of two phases:

The First Phase (January 1, 2020 – December 31, 2024):
Bank Indonesia will issue and circulate the physical currency with the sign “new” incorporated onto the body of the money (First New Money).
The Old Rupiah can still be used as payment method, until its revocation on December 31, 2024
The Old Rupiah can still be exchanged at Bank Indonesia until December 31, 2034
The Second Phase (January 1, 2025 – December 31, 2028)
Bank Indonesia will issue and circulate the physical currency, without the sign “new” incorporated onto be body of the currency
The First New Money will be valid until its revocation on December 31, 2028
The First New Money can be exchanged at Bank Indonesia until December 31, 2038

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Flyer launched for the protest.
DHARAMSHALA: Tibetans living in exile in India are going to hold a protest rally under the banner 'Tibet's independence, India's security' in Delhi over worsening relations between India and China due to the Doklam issue. Tibetan Youth Congress (TYC), one of the largest groups formed of young Tibetans in 1970, has given a call to this rally. It will take place on August 11, 2017. Tibetans will gather at Ramlila Maidan and will hold procession till Jantar Mantar in the national capital.
The organization has 35,000 members worldwide. "We are the largest NGO in exile and are going to hold this rally to highlight that Tibet's independence is the safest guarantee for India's security and peace along the Himalayas. We believe that Tibetans must be a part of discussions concerning the borders" said Tenzin Jigme, President of TYC.

Headquarters of the TYC are situated in Mcleodganj near here. It has 88 chapters in various countries, out of which 65 are in India who would be participating in this protest along with some Indian groups also, said officials of the organization. "Confirmations about the Indian leaders and groups will come in a day or two" they said.

Flyer launched for the protest.
DHARAMSHALA: Tibetans living in exile in India are going to hold a protest rally under the banner 'Tibet's independence, India's security' in Delhi over worsening relations between India and China due to the Doklam issue. Tibetan Youth Congress (TYC), one of the largest groups formed of young Tibetans in 1970, has given a call to this rally. It will take place on August 11, 2017. Tibetans will gather at Ramlila Maidan and will hold procession till Jantar Mantar in the national capital.
The organization has 35,000 members worldwide. "We are the largest NGO in exile and are going to hold this rally to highlight that Tibet's independence is the safest guarantee for India's security and peace along the Himalayas. We believe that Tibetans must be a part of discussions concerning the borders" said Tenzin Jigme, President of TYC.

Headquarters of the TYC are situated in Mcleodganj near here. It has 88 chapters in various countries, out of which 65 are in India who would be participating in this protest along with some Indian groups also, said officials of the organization. "Confirmations about the Indian leaders and groups will come in a day or two" they said.

16 HOURS AGO by: Amy Kazmin in New Delhi
On a windswept Himalayan plateau usually frequented by seasonal yak herders, hundreds of troops from China’s People’s Liberation Army and the Indian Army are locked in a stand-off over a small but strategic piece of land.

Bullets are not flying, but rhetoric is, with Beijing warning New Delhi to “correct its mistake” by withdrawing its troops from the contested terrain, that China calls its own. 

India — which says it is has merely come to the defence of its tiny neighbour Bhutan that also claims the land — has ruled out a unilateral withdrawal, while insisting it wants a peaceful resolution of the problem.

16 HOURS AGO by: Amy Kazmin in New Delhi
On a windswept Himalayan plateau usually frequented by seasonal yak herders, hundreds of troops from China’s People’s Liberation Army and the Indian Army are locked in a stand-off over a small but strategic piece of land.

Bullets are not flying, but rhetoric is, with Beijing warning New Delhi to “correct its mistake” by withdrawing its troops from the contested terrain, that China calls its own. 

India — which says it is has merely come to the defence of its tiny neighbour Bhutan that also claims the land — has ruled out a unilateral withdrawal, while insisting it wants a peaceful resolution of the problem.

The Russian government will intensify efforts to cut the country’s dependence on US payment systems and the dollar as a settling currency, said Deputy Foreign Minister Sergey Ryabkov on Monday, as quoted by RIA Novosti.
Read more
© Maxim ZmeyevSanctions reload ushers in the ‘new normal’ for Russia
“We will, of course, speed up the work on import substitution, reduce dependence on US payment systems, on the dollar as a settling currency and so on. It is becoming a vitally important,” said Ryabkov.

“The US is using its dominating role in the monetary and financial system to impose pressure on foreign business, including Russian companies,” added the deputy minister.

When reached 0.10 and below can accumulate some for future profit.

Big one is accumulating energy. So, take a break.

Zzzzzzzzzzz

Sanctions On Venezuela Could Push Oil Into The Mid-$50s

Sanctions On Venezuela Could Push Oil Into The Mid-$50s

Sanctions On Venezuela Could Push Oil Into The Mid-$50s

“The US dollar fell against all G10 currencies except the Swiss franc,” he said in a Monday morning note. AUD/USD fell as far as 0.7937 in London trade, bounced above 0.7990 on the US data, flickered above 0.8000 briefly then steadied just below the figure.”

“The US dollar fell against all G10 currencies except the Swiss franc,” he said in a Monday morning note. AUD/USD fell as far as 0.7937 in London trade, bounced above 0.7990 on the US data, flickered above 0.8000 briefly then steadied just below the figure.”

2017 SUPER REFORM - WHAT THIS MEANS FOR YOU
THE MOST SIGNIFICANT SUPER CHANGES IN A DECADE
FREE EBOOK. DOWNLOAD TODAY.


A weak week for the US dollar and it helped commodities end on a solid note generally.

Oil, gold, copper, iron ore all rose, but wheat futures eased despite a worsening drought across much of Europe, the northern US and parts of Australia.
Iron ore prices dipped below $US69 per tonne (on a cfr basis delivered to northern China) on Friday despite active trading at Chinese ports ahead of the weekend.
The Metal Bulletin’s 62% iron oxide iron ore index fell back $US68.73 per tonne delivered to Qingdao in northern china, a fall of 2.1% or $US1.47 tonne. But that was stil up 2.3% on the week before’s close of $US67.14. Prices topped $US70 a tonne for two days last week.
Oil prices though surged by 8% last week - the largest weely rise since early December, with prices getting a lift from renewed production-curb commitments from OPEC members as well as uncertainty in Venezuela and problems in Nigeria.
Traders showed little reaction as data Friday on the latest number of active US oil rigs revealed a modest increase for the week after falls in two of the preceding three weeks.
September West Texas Intermediate crude rose 67 cents, or 1.4%, to settle at $US49.71 a barrel in New York—the highest finish for a most-active contract since May 26, according to FactSet.
It ended about 8.6% higher for the week.
In London Brent crude for September which expires at tonight’s settlement, added $US1.03, or 2%, to settle at $US52.52 a barrel, with prices up around 9.3% for the week.
Both contracts saw their biggest weekly percentage gains for a most-active contract since early December.
Another fall in US stocks and a drop in US production helped bolster confidence.
Baker Hughes reported that a small rise of 2 in the number of rigs looking for oil last week. That pushed them up to 766 after drop of one the week before.
The total active US rig count, which includes oil and natural-gas rigs, was also up 8 at 958.

2017 SUPER REFORM - WHAT THIS MEANS FOR YOU
THE MOST SIGNIFICANT SUPER CHANGES IN A DECADE
FREE EBOOK. DOWNLOAD TODAY.


A weak week for the US dollar and it helped commodities end on a solid note generally.

Oil, gold, copper, iron ore all rose, but wheat futures eased despite a worsening drought across much of Europe, the northern US and parts of Australia.
Iron ore prices dipped below $US69 per tonne (on a cfr basis delivered to northern China) on Friday despite active trading at Chinese ports ahead of the weekend.
The Metal Bulletin’s 62% iron oxide iron ore index fell back $US68.73 per tonne delivered to Qingdao in northern china, a fall of 2.1% or $US1.47 tonne. But that was stil up 2.3% on the week before’s close of $US67.14. Prices topped $US70 a tonne for two days last week.
Oil prices though surged by 8% last week - the largest weely rise since early December, with prices getting a lift from renewed production-curb commitments from OPEC members as well as uncertainty in Venezuela and problems in Nigeria.
Traders showed little reaction as data Friday on the latest number of active US oil rigs revealed a modest increase for the week after falls in two of the preceding three weeks.
September West Texas Intermediate crude rose 67 cents, or 1.4%, to settle at $US49.71 a barrel in New York—the highest finish for a most-active contract since May 26, according to FactSet.
It ended about 8.6% higher for the week.
In London Brent crude for September which expires at tonight’s settlement, added $US1.03, or 2%, to settle at $US52.52 a barrel, with prices up around 9.3% for the week.
Both contracts saw their biggest weekly percentage gains for a most-active contract since early December.
Another fall in US stocks and a drop in US production helped bolster confidence.
Baker Hughes reported that a small rise of 2 in the number of rigs looking for oil last week. That pushed them up to 766 after drop of one the week before.
The total active US rig count, which includes oil and natural-gas rigs, was also up 8 at 958.

Brent now at $52 and above.

Brent crude prices edged closer to $51 a barrel, the highest level in two months, after US stockpiles fell more than analysts expected.

The global oil price benchmark rose 1.27 per cent to $50.84 per barrel while West Texas Intermediate (WTI) oil prices, the benchmark for the US, were trading 1.52 per cent higher at $48.62 per barrel.

US inventories dropped by 7.2m barrels in the week to 21 July while analysts expected a decline of just 2.6m barrels, according to official data published by the Energy Information Administration (EIA) today.

Brent crude prices edged closer to $51 a barrel, the highest level in two months, after US stockpiles fell more than analysts expected.

The global oil price benchmark rose 1.27 per cent to $50.84 per barrel while West Texas Intermediate (WTI) oil prices, the benchmark for the US, were trading 1.52 per cent higher at $48.62 per barrel.

US inventories dropped by 7.2m barrels in the week to 21 July while analysts expected a decline of just 2.6m barrels, according to official data published by the Energy Information Administration (EIA) today.

Brent crude prices edged closer to $51 a barrel, the highest level in two months, after US stockpiles fell more than analysts expected.

The global oil price benchmark rose 1.27 per cent to $50.84 per barrel while West Texas Intermediate (WTI) oil prices, the benchmark for the US, were trading 1.52 per cent higher at $48.62 per barrel.

US inventories dropped by 7.2m barrels in the week to 21 July while analysts expected a decline of just 2.6m barrels, according to official data published by the Energy Information Administration (EIA) today.

[NEW YORK] The US dollar fell on Wednesday, touching its lowest level in more than a year against a basket of currencies after the release of the Federal Reserve's policy statement following its July meeting.

The Federal Open Market Committee announced no changes to monetary policy, as expected. Policymakers said, however, that the US central bank would begin implementing balance sheet normalisation "relatively soon".

That marked a change from the committee's previous statement that it would begin to reduce its US$4.5 trillion bond holdings "this year".

The US dollar index, which measures the greenback against six major currencies, fell to 93.396, its lowest since June 23, 2016.

[NEW YORK] The US dollar fell on Wednesday, touching its lowest level in more than a year against a basket of currencies after the release of the Federal Reserve's policy statement following its July meeting.

The Federal Open Market Committee announced no changes to monetary policy, as expected. Policymakers said, however, that the US central bank would begin implementing balance sheet normalisation "relatively soon".

That marked a change from the committee's previous statement that it would begin to reduce its US$4.5 trillion bond holdings "this year".

The US dollar index, which measures the greenback against six major currencies, fell to 93.396, its lowest since June 23, 2016.

BANK OF AMERICA: The US dollar is overvalued, and there are 'substantial risks' to a big rally from here
AKIN OYEDELEJUL 25, 2017, 09.26 PM
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ice climbing Oli Scarff/Getty
The US dollar is the worst performing G10 currency this year, down 8% versus its major peers. But it's still expensive relative to its history, according to Bank of America Merrill Lynch.
"T he currency remains overvalued by about 10 percent compared with its long-term equilibrium and about 12 percent above its 20-year average in real effective term," said Athanasios Vamvakidis, the global head of G10 FX strategy, in a note on Tuesday.

BANK OF AMERICA: The US dollar is overvalued, and there are 'substantial risks' to a big rally from here
AKIN OYEDELEJUL 25, 2017, 09.26 PM
FacebookLinkedinWhatsAppTwitterGoogle+
ice climbing Oli Scarff/Getty
The US dollar is the worst performing G10 currency this year, down 8% versus its major peers. But it's still expensive relative to its history, according to Bank of America Merrill Lynch.
"T he currency remains overvalued by about 10 percent compared with its long-term equilibrium and about 12 percent above its 20-year average in real effective term," said Athanasios Vamvakidis, the global head of G10 FX strategy, in a note on Tuesday.

BANK OF AMERICA: The US dollar is overvalued, and there are 'substantial risks' to a big rally from here
AKIN OYEDELEJUL 25, 2017, 09.26 PM
FacebookLinkedinWhatsAppTwitterGoogle+
ice climbing Oli Scarff/Getty
The US dollar is the worst performing G10 currency this year, down 8% versus its major peers. But it's still expensive relative to its history, according to Bank of America Merrill Lynch.
"T he currency remains overvalued by about 10 percent compared with its long-term equilibrium and about 12 percent above its 20-year average in real effective term," said Athanasios Vamvakidis, the global head of G10 FX strategy, in a note on Tuesday.

Senate Health-Care Debate Opens With Rejection of McConnell Plan

Brent crude oil rise to $50/barrel and above

Chinese crude oil imports are expected to exceed 400 million tons this year, and to further rise next year, Zhang Haichao, vice president of Sinopec Group, told Reuters on Tuesday.

The estimate provided by Zhang means that Chinese demand for foreign crude would rise by 400,000 bpd, and for the first time ever, rising imports could make China the world’s top crude oil importer on an annual basis, according to Reuters.

Chinese customs data has revealed that the world’s second-largest consumer of crude oil imported 8.55 million bpd during the first half of the year, or 212 million tons in total – a 13.8-percent annual increase. The growth in imports comes on the back of higher refinery runs after a maintenance period, as well as dwindling local crude production.

Brent price back to $50/barrel

Chinese crude oil imports are expected to exceed 400 million tons this year, and to further rise next year, Zhang Haichao, vice president of Sinopec Group, told Reuters on Tuesday.

The estimate provided by Zhang means that Chinese demand for foreign crude would rise by 400,000 bpd, and for the first time ever, rising imports could make China the world’s top crude oil importer on an annual basis, according to Reuters.

Chinese customs data has revealed that the world’s second-largest consumer of crude oil imported 8.55 million bpd during the first half of the year, or 212 million tons in total – a 13.8-percent annual increase. The growth in imports comes on the back of higher refinery runs after a maintenance period, as well as dwindling local crude production.

Brent rise to $50 above.

Chinese crude oil imports are expected to exceed 400 million tons this year, and to further rise next year, Zhang Haichao, vice president of Sinopec Group, told Reuters on Tuesday.

The estimate provided by Zhang means that Chinese demand for foreign crude would rise by 400,000 bpd, and for the first time ever, rising imports could make China the world’s top crude oil importer on an annual basis, according to Reuters.

Chinese customs data has revealed that the world’s second-largest consumer of crude oil imported 8.55 million bpd during the first half of the year, or 212 million tons in total – a 13.8-percent annual increase. The growth in imports comes on the back of higher refinery runs after a maintenance period, as well as dwindling local crude production.

The unseen started to pull down the price to scarepeople away to sell at lower price to him/her. Afterthat, Fly to the sky.

Like playing slot. When the slot fund full, it will trigger a jackpots. It is the matter of time.

If break 1.20, may up to 1.30 and above.

The dollar index is on a two-week losing streak, and some strategists expect further downside.

The index, which measures the value of the U.S. dollar relative to a basket of foreign currencies, including the euro, fell Friday to its lowest level since June 2016. The slide came as the euro surged against the greenback and a string of negative news flowed out of Washington early in the session.

When asked if he would buy the U.S. dollar at this juncture, given its beaten-down condition, Crossing Wall Street blog editor Eddy Elfenbein said, "I'm not, and I've got to say, it is an ugly chart, and I think it's going to get even uglier."

"The dollar seems to go down a little bit just about every single day," he said Friday on CNBC's "Trading Nation." He said last week's weakness was due in part to the euro's strength following remarks from European Central Bank President Mario Draghi.

Draghi did not mention "the strength of the euro as being a problem, sort of like the dog that did not bark, and when central bankers give a green light, traders are in the habit of following along. I think it is going to continue to get worse for the dollar and then, of course, we have a Fed meeting coming our way next week," Elfenbein said.

Higher interest rates typically tend to increase the value of that country's currency relative to that of foreign currencies. But that's not always the case, said Chris Verrone, head of technical analysis for Strategas Research Partners.

"In five of the last six times the Fed has raised rates, you've seen the dollar go lower, not higher," Verrone said Friday on "Trading Nation." "So this price action really hasn't been that abnormal from what history tells us should happen. I think the question here is, tactically, do we set up for a bounce? Look to 92.5, 93 for support in the near term."

On Monday, the dollar index was trading at 93.91, and has declined more than 8 percent this year.

The dollar index is on a two-week losing streak, and some strategists expect further downside.

The index, which measures the value of the U.S. dollar relative to a basket of foreign currencies, including the euro, fell Friday to its lowest level since June 2016. The slide came as the euro surged against the greenback and a string of negative news flowed out of Washington early in the session.

When asked if he would buy the U.S. dollar at this juncture, given its beaten-down condition, Crossing Wall Street blog editor Eddy Elfenbein said, "I'm not, and I've got to say, it is an ugly chart, and I think it's going to get even uglier."

"The dollar seems to go down a little bit just about every single day," he said Friday on CNBC's "Trading Nation." He said last week's weakness was due in part to the euro's strength following remarks from European Central Bank President Mario Draghi.

Draghi did not mention "the strength of the euro as being a problem, sort of like the dog that did not bark, and when central bankers give a green light, traders are in the habit of following along. I think it is going to continue to get worse for the dollar and then, of course, we have a Fed meeting coming our way next week," Elfenbein said.

Higher interest rates typically tend to increase the value of that country's currency relative to that of foreign currencies. But that's not always the case, said Chris Verrone, head of technical analysis for Strategas Research Partners.

"In five of the last six times the Fed has raised rates, you've seen the dollar go lower, not higher," Verrone said Friday on "Trading Nation." "So this price action really hasn't been that abnormal from what history tells us should happen. I think the question here is, tactically, do we set up for a bounce? Look to 92.5, 93 for support in the near term."

On Monday, the dollar index was trading at 93.91, and has declined more than 8 percent this year.

The dollar index is on a two-week losing streak, and some strategists expect further downside.

The index, which measures the value of the U.S. dollar relative to a basket of foreign currencies, including the euro, fell Friday to its lowest level since June 2016. The slide came as the euro surged against the greenback and a string of negative news flowed out of Washington early in the session.

When asked if he would buy the U.S. dollar at this juncture, given its beaten-down condition, Crossing Wall Street blog editor Eddy Elfenbein said, "I'm not, and I've got to say, it is an ugly chart, and I think it's going to get even uglier."

"The dollar seems to go down a little bit just about every single day," he said Friday on CNBC's "Trading Nation." He said last week's weakness was due in part to the euro's strength following remarks from European Central Bank President Mario Draghi.

Draghi did not mention "the strength of the euro as being a problem, sort of like the dog that did not bark, and when central bankers give a green light, traders are in the habit of following along. I think it is going to continue to get worse for the dollar and then, of course, we have a Fed meeting coming our way next week," Elfenbein said.

Higher interest rates typically tend to increase the value of that country's currency relative to that of foreign currencies. But that's not always the case, said Chris Verrone, head of technical analysis for Strategas Research Partners.

"In five of the last six times the Fed has raised rates, you've seen the dollar go lower, not higher," Verrone said Friday on "Trading Nation." "So this price action really hasn't been that abnormal from what history tells us should happen. I think the question here is, tactically, do we set up for a bounce? Look to 92.5, 93 for support in the near term."

On Monday, the dollar index was trading at 93.91, and has declined more than 8 percent this year.