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In the forex market for over 5 years . In trade used technical analysis indicators , as well as economic and political news. If you are interested in more conservative and lucrative trade might trust.
Evgeniy Piskachev
Post pubblicati Евро показывает зубы
Выход в свет протокола октябрьского заседания Комитета открытого рынка ФРС позволил EUR/USD отметиться повышенной волатильностью...
· 3
149
Evgeniy Piskachev
As my colleague Kathleen Brooks highlighted Tuesday, Japan’s economy has had a wild 48 hours. An abysmal Q3 GDP report, PM Shinzo Abe has pushed back next year’s planned sales-tax hike calling for snap elections in less than a month to consolidate his political power.
While the yen hasn’t seen an immediate reaction to the recent political and economic turmoil, this week’s decisions will have a long-term effect on both Japan’s economy and its currency. The decision to push back the tax hike will decrease inflationary pressures over the next year, though it will prevent the tax from kicking away the crutch of the already-hobbling Japanese economy. It could also force the BOJ to continue its extraordinary stimulus for longer than previously expected, adding a long-term headwind to the yen’s value. With a suddenly highly anticipated BOJ meeting scheduled for Tuesday night, yen traders found themselves on edge.
Techncial View: EUR/JPY
While USD/JPY continues to consolidate below the 117.00 level, EUR/JPY has seen a major breakout above resistance at 145.60-70. This level represents the convergence of the pair’s previous 6-year high and the 161.8% Fibonacci extension of the September-October drop. Now that rates have broken through this key barrier, there is minimal overhead supply -- essentially, any trader that has bought and held EUR/JPY at any point in the last 6 years is looking at an unrealized profit and has little incentive to sell for now.
Meanwhile, the price action and secondary indicators are showing about what you’d expect. Tuesday’s big rally is creating an (unfinished) Bullish Marubozu Candle* on the daily chart, showing strong buying pressure and a potential bullish continuation heading into the middle of the week. Momentum is strongly bullish, as shown by the MACD trending higher above its signal line and the “0” level. Of course, the RSI indicator is now deeply overbought, but until EUR/JPY hits a resistance level, further gains will be favored.
While the yen hasn’t seen an immediate reaction to the recent political and economic turmoil, this week’s decisions will have a long-term effect on both Japan’s economy and its currency. The decision to push back the tax hike will decrease inflationary pressures over the next year, though it will prevent the tax from kicking away the crutch of the already-hobbling Japanese economy. It could also force the BOJ to continue its extraordinary stimulus for longer than previously expected, adding a long-term headwind to the yen’s value. With a suddenly highly anticipated BOJ meeting scheduled for Tuesday night, yen traders found themselves on edge.
Techncial View: EUR/JPY
While USD/JPY continues to consolidate below the 117.00 level, EUR/JPY has seen a major breakout above resistance at 145.60-70. This level represents the convergence of the pair’s previous 6-year high and the 161.8% Fibonacci extension of the September-October drop. Now that rates have broken through this key barrier, there is minimal overhead supply -- essentially, any trader that has bought and held EUR/JPY at any point in the last 6 years is looking at an unrealized profit and has little incentive to sell for now.
Meanwhile, the price action and secondary indicators are showing about what you’d expect. Tuesday’s big rally is creating an (unfinished) Bullish Marubozu Candle* on the daily chart, showing strong buying pressure and a potential bullish continuation heading into the middle of the week. Momentum is strongly bullish, as shown by the MACD trending higher above its signal line and the “0” level. Of course, the RSI indicator is now deeply overbought, but until EUR/JPY hits a resistance level, further gains will be favored.
· 4
Evgeniy Piskachev
Evgeniy Piskachev
Join! ! ! Stablly 15-20% a month! ! !
Присоединяйтесь!!! Стабильно 15-20% в месяц!!!
https://www.mql5.com/ru/signals/6922
https://www.mql5.com/ru/signals/52212
https://www.mql5.com/ru/signals/64999
Join! ! ! Stablly 15-20% a month! ! !
Присоединяйтесь!!! Стабильно 15-20% в месяц!!!
https://www.mql5.com/ru/signals/6922
https://www.mql5.com/ru/signals/52212
https://www.mql5.com/ru/signals/64999
· 4
Evgeniy Piskachev
Post pubblicati Ставки по кредитам будут расти
Российский фондовый рынок во вторник утром открылся разнонаправленно. В начале торгов индекс РТС прибавляет 0,5%, индекс ММВБ падает на 0,4%. В лидерах спроса отмечены бумаги ММК и Медиахолдинга. В лидерах падения МегаФон. Внешний фон к сегодняшним торгам сложился нейтральным...
· 4
216
Evgeniy Piskachev
Post pubblicati Экономика РФ: от спада к сильному провалу
ВВП РФ в 4-м квартале 2014 года, скорее всего, продемонстрирует снижение в годовом выражении, в 1-м квартале 2015 года эта тенденция может усилиться, что будет означать начало рецессии в экономике, говорится в периодическом обзоре Центра развития НИУ ВШЭ "Комментарии о государстве и бизнесе...
· 4
202
Evgeniy Piskachev
Summary
“The market” has done well this year. The S&P 500, the best of the bunch, is up over 10%.
How about you? If you haven’t kept pace, here’s a rock-solid sector that has hit a temporary speed bump.
If history is any guide - and it is - these great companies won’t stay cheap for long.
The time to do your due diligence is today - and if you agree, the time to buy is now.
As recently as 24 hours ago, I would have included Baker Hughes (NYSE:BHI) in my discussion below. But near the close on Thursday, Halliburton (NYSE:HAL) divulged that it would like to acquire its very large rival Baker Hughes. BHI jumped 15% in 25 minutes. (Not that anyone would invest in just one company, of course, but that's 50% better than the S&P has done all year long!)
That's what happens when oil and gas stocks become temporarily cheap. As I wrote to the (too few, in retrospect) clients of ours that owned BHI:
"I did not have inside information prior to BHI's 15% jump just prior to the close today. But I know the energy industry and know that, when quality companies get this cheap, (1) competitors will buy them out rather than build new business from scratch, and (2) these companies will inevitably rebound. This one just started to rebound faster in light of Halliburton's possible buyout."
BHI WeeklyBHI Weekly
All oil and gas explorers, producers, servicers, drillers, machinery providers, and transport and storage firms are considerably cheaper today than they were just 6 weeks ago - so cheap, in fact, that one might make enough by buying them to do every bit as well as the market this year - even starting this late.
It couldn't come at a better time, in my opinion! I was cautious on the market by the end of summer, expecting an October time frame pullback. Our clients were mostly in preferred stocks and bond funds, with a healthy dollop of long/short mutual funds and even a few put options. Ouch. It certainly felt like the right thing to do all the way through mid-October as the market was falling and we were making money.
But then the market rebounded in a V-shaped recovery that, in 12 days, undid the entire 10% decline. We didn't immediately go long because every bear correction (well, every other bear correction!) is punctuated by a series of head-fake rallies, but then resumes its decline. After 5 years straight up, those two weeks were our entire correction?? Couldn't be. But it was. So now we are starting from the uncomfortable position of making less than the market this year, and that will not stand. We have sold all those bonds, bond funds, preferreds, preferred ETFs and other income-only investments.
Fortunately, the sector I have known the best for the past 40 years in this business is oil and gas - fortunate because that is where the bargains are today, if only we have the fortitude to buy them. Oil and gas always suffer a so-called glut after the summer vacation driving season ends and people no longer need their air conditioner when it stays light until 9 p.m. or so. And that glut, during which time we can normally pick up some fine bargains as people tear their hair out over the demise of oil and gas, is ended when the days get shorter, the lights go on earlier, and we need heat here in the Northern Hemisphere. The glut goes away, and we who have bought oil and gas in the "glut" pocket our profits.
This year the problem has been exacerbated, however, by a serious slowing of manufacturing and production in Europe and Asia and by the marvelous enhanced oil & gas production we are enjoying in North America; not just US shale production, but Canadian and soon to be Mexican successes as well.
Goldman Sachs recently wrote that worldwide demand is likely to stay flat for some time because China and the developing nations will consume less. I don't think they will. People with a bicycle want a motorbike; those with a motorbike want a car. This trend is unstoppable, as is the need to mine resources or manufacture "things" for export.
Goldman further sees U.S. shale as a target for the Saudis and their OPEC brethren to break by producing all-out. While it is true that the Saudis can be profitable at a lower price point, I don't think US shale producers are their target. I think it is their fellow OPEC partners and other competitors. It wouldn't hurt the Saudis' feelings if arch-enemy Iran were squeezed and brought to the bargaining table. And it wouldn't hurt US diplomacy, either, if Russia, Iran and Venezuela were eating crow instead of selling oil & gas at a profit.
Indeed, unlike Goldman, I see US shale production as a way to defeat any attempt to put the US over a barrel (so to speak.) According to the International Energy Agency (IEA), producers in the Marcellus Shale can make a 20% pre-tax return on investment in the Marcellus even if oil goes below $40 a barrel. The Eagle Ford, Utica and Bakken are still that profitable at less than $60 a barrel. In fact, according to the IEA, only 4% of shale production needs $80 oil to return that 20% pre-tax profit.
I further break down the oil and gas industry in the energy sector into four rough sub-sectors: machinery and equipment; transport and storage; field services (to include offshore;) and the drillers, both land-based and offshore. It would be pretty cumbersome to put all these in a single article, so I will cover the first two sub-sectors here and will include the other two big sectors, plus (bonus round!) two more speculative special situations I think have superb potential in my second post. Let's start with…
Machinery & Equipment
National Oilwell Varco's stock symbol is NOV, which customers and nervous competitors sometimes say stands for "No Other Vendor." With good reason: NOV controls about 50% of the deepwater equipment market, while competing against the likes of Halliburton, Baker Hughes, FMC Technologies (NYSE:FTI), Weatherford International (NYSE:WFT), and Cameron International (NYSE:CAM), all fine companies in their own right. (I have not included Dresser-Rand Group Inc (NYSE:DRC) because its merger with giant conglomerate Siemens (OTC:SIEGY) looks like a done deal, or Bolt Technology Corporation (NASDAQ:BOLT), because it is a smaller player, albeit with great strength in the niche market of subsea vehicles and equipment.)
These firms, and scores of others, build, sell and service entire rig systems, both offshore and land-based, as well as any of the hundreds of individual pipes, pumps, control systems, fluid handling and power systems, and all the rest that goes into the rigs. They also provide wellbore support with everything from drill bits and drilling fluid to coring services and waste management. For an in-depth overview, I suggest you go to nov.com and click on "Products." Every single item on that page has its own link for further info.
The bottom line is—without these companies making finely-honed, sturdy, and reliable equipment, there would be no exploration or production of oil and gas. As investors, we don't need in-depth knowledge of all the components that make this all come together; we need to know (1) that this is an essential industry that offers above-average growth, and (2) which companies are the most attractive to buy right now. While many other industries have run to new highs and are now on every momentum investor's buy list, none of these firms have set the world on fire. NOV is selling for 5% less than it did 12 months ago. BHI (well, until about 3:35 Thursday afternoon, anyway) was down 14%, HAL is down 4%, and WFT is down 4%. CAM is up 5%, while FTI is up 9%, the only one that has even come close to keeping pace with the market.
I don't think you could go wrong buying any of these. But of the 5, leaving BHI out for now, HAL has the biggest enterprise value, NOV the lowest P/E, HAL and FMC the best ROA and ROE, NOV the best operating and net margins and the lowest debt/equity ratio, and HAL and NOV the best 5-year revenue and earnings growth. Of the two that seem to float to the top here, NOV beats HAL on valuation criteria like Price/Book, Price/Sales and the PEG Ratio (Price/Earnings Growth.) Of the bigs, NOV is still our favorite. And when the biggest, most competitive and most highly-regarded firms in the industry have sold off every bit as much as the less well-managed or less well-capitalized firms, why not buy the best? We are buyers first of NOV, then of HAL.
Transport and Storage
The benefit of owning pipeline and storage companies is that they get paid on through-put, not on the price of the commodity. Also, these are by and large domestic, or at least North American, firms, so their earnings are less dependent upon the currently-weaker economies of Europe, Asia and the emerging markets. If Americans consume more oil and gas this winter, the transport and storage outfits make money. It doesn't much matter if that oil-equivalent barrel is priced at $70 a barrel or $100 a barrel; they get paid to transport something regardless of its value. Think of these companies as a UPS or FedEx (NYSE:FDX) - whether the contents of the package UPS delivers is worth $10 or $100, UPS charges by weight and distance, not by the value of the contents. That's what pipeline companies do. The storage end of the equation is slightly different; the prices received for storage are less subject to federal regulation and are therefore more subject to the laws of supply and demand.
So what are the best pipeline companies to own? That depends upon your end-goal. If you're looking solely for current income you might buy Niska Gas Storage (NYSE:Niska Gas Storage Partners LLC (NYSE:NKA) which pays at a 30% yield - but has lost 69% of its value over the last 12 months. I can name another dozen that pay double-digit yields, though I personally wouldn't buy a one of them for myself or our clients. I'd rather have steady, conservative growth with a well-managed company that increases its DCF (distributable cash flow) every year and its distributions as often.
Pipeline firms don't really "compete" with each other; FERC, the Federal Energy Regulatory Commission, regulates most aspects of interstate pipelines, and gives an effective monopoly to the pipeline from point A to point B and sets rates for flow that are "just and reasonable." So when reviewing competitive position in this sub-sector, we want to select those companies with management that is most astute and a network of pipelines that are in basins with lots of proven reserve life left in them instead of old fields only pumping with tertiary recovery methodologies.
A few names percolate to the top as pipeline builders in the newest and most prolific areas. Among these are TransCanada (NYSE:TRP), Enbridge (NYSE:ENB), Oneok (NYSE:OKE) and Statoil (NYSE:STO).
Statoil? Statoil? What am I smoking, you ask? For those who only know STO as the Norwegian state oil company, a powerhouse in Europe and the supplier of the world's newest LNG terminal (the Klaipeda terminal in Lithuania, which completely eradicates the Russian stranglehold on Lithuania,) you may wonder at its inclusion here. But STO also spent $4 billion to buy the US company Brigham Exploration, a major Bakken player, and is hard at work building storage facilities here in the U.S. STO is now a serious producer in the Marcellus and the Eagle Ford. And in addition to its 5,000 miles of pipelines in Europe, it now owns pipelines from the Marcellus shale direct to New York City and Toronto. This is yet another concrete example that there is tremendous overlap in each of these sub-sectors - here's a major integrated oil company that is now expanding its pipelines and storage divisions.
Midstream: Capturing Value in the US MarketMidstream: Capturing Value in the US Market
You'll notice there is something missing from my analysis of the transporters. We made superb money and attracted lots of followers in previous years talking about the steady-Eddie income, growth and tax benefits of MLPs. Where are the MLPs (Master Limited Partnerships) that have done so well for us in the past? Well, old favorites Kinder Morgan Energy Partners LP (NYSE:KMP) and El Paso Pipeline Partners LP (NYSE:EPB) are being absorbed by our also-favored parent company Kinder Morgan Inc (NYSE:KMI). That leaves Plains All American (NYSE:PAA) and, for both growth and yield, QR Energy (NYSE:QRE), Linn Energy (NASDAQ:LINE), and EV Energy (NASDAQ:EVEP) atop our few remaining MLPs we might still consider buying, except...
...I am more and more interested in acquiring the parent companies that pay ordinary dividends rather than the MLPs that pay tax-advantaged distributions via K-1s these days. My reason has nothing to do with K-1s, however. It has to do with the growing sentiment in Congress to do in the U.S. what the Canadians did in 2011 and remove the tax-advantaged status of LPs. It makes me uneasy at best. It doesn't have to even happen to cause a big downdraft in MLPs; just being floated as an idea by some Congressman will be enough to send them down 10% in a day. We've seen enough of that kind of volatility, thank you. If I have to pick only one, it would be KMI.
Bottom line - we are buyers of NOV, HAL, STO and KMI, with a dozen more to come next. In Part II, I'll cover the dirt-cheap drillers (where we are placing most of our funds right now) and the biggest and best servicing outfits, as well as our favorite big integrated oil and gas companies. Oh, and those special situations for
“The market” has done well this year. The S&P 500, the best of the bunch, is up over 10%.
How about you? If you haven’t kept pace, here’s a rock-solid sector that has hit a temporary speed bump.
If history is any guide - and it is - these great companies won’t stay cheap for long.
The time to do your due diligence is today - and if you agree, the time to buy is now.
As recently as 24 hours ago, I would have included Baker Hughes (NYSE:BHI) in my discussion below. But near the close on Thursday, Halliburton (NYSE:HAL) divulged that it would like to acquire its very large rival Baker Hughes. BHI jumped 15% in 25 minutes. (Not that anyone would invest in just one company, of course, but that's 50% better than the S&P has done all year long!)
That's what happens when oil and gas stocks become temporarily cheap. As I wrote to the (too few, in retrospect) clients of ours that owned BHI:
"I did not have inside information prior to BHI's 15% jump just prior to the close today. But I know the energy industry and know that, when quality companies get this cheap, (1) competitors will buy them out rather than build new business from scratch, and (2) these companies will inevitably rebound. This one just started to rebound faster in light of Halliburton's possible buyout."
BHI WeeklyBHI Weekly
All oil and gas explorers, producers, servicers, drillers, machinery providers, and transport and storage firms are considerably cheaper today than they were just 6 weeks ago - so cheap, in fact, that one might make enough by buying them to do every bit as well as the market this year - even starting this late.
It couldn't come at a better time, in my opinion! I was cautious on the market by the end of summer, expecting an October time frame pullback. Our clients were mostly in preferred stocks and bond funds, with a healthy dollop of long/short mutual funds and even a few put options. Ouch. It certainly felt like the right thing to do all the way through mid-October as the market was falling and we were making money.
But then the market rebounded in a V-shaped recovery that, in 12 days, undid the entire 10% decline. We didn't immediately go long because every bear correction (well, every other bear correction!) is punctuated by a series of head-fake rallies, but then resumes its decline. After 5 years straight up, those two weeks were our entire correction?? Couldn't be. But it was. So now we are starting from the uncomfortable position of making less than the market this year, and that will not stand. We have sold all those bonds, bond funds, preferreds, preferred ETFs and other income-only investments.
Fortunately, the sector I have known the best for the past 40 years in this business is oil and gas - fortunate because that is where the bargains are today, if only we have the fortitude to buy them. Oil and gas always suffer a so-called glut after the summer vacation driving season ends and people no longer need their air conditioner when it stays light until 9 p.m. or so. And that glut, during which time we can normally pick up some fine bargains as people tear their hair out over the demise of oil and gas, is ended when the days get shorter, the lights go on earlier, and we need heat here in the Northern Hemisphere. The glut goes away, and we who have bought oil and gas in the "glut" pocket our profits.
This year the problem has been exacerbated, however, by a serious slowing of manufacturing and production in Europe and Asia and by the marvelous enhanced oil & gas production we are enjoying in North America; not just US shale production, but Canadian and soon to be Mexican successes as well.
Goldman Sachs recently wrote that worldwide demand is likely to stay flat for some time because China and the developing nations will consume less. I don't think they will. People with a bicycle want a motorbike; those with a motorbike want a car. This trend is unstoppable, as is the need to mine resources or manufacture "things" for export.
Goldman further sees U.S. shale as a target for the Saudis and their OPEC brethren to break by producing all-out. While it is true that the Saudis can be profitable at a lower price point, I don't think US shale producers are their target. I think it is their fellow OPEC partners and other competitors. It wouldn't hurt the Saudis' feelings if arch-enemy Iran were squeezed and brought to the bargaining table. And it wouldn't hurt US diplomacy, either, if Russia, Iran and Venezuela were eating crow instead of selling oil & gas at a profit.
Indeed, unlike Goldman, I see US shale production as a way to defeat any attempt to put the US over a barrel (so to speak.) According to the International Energy Agency (IEA), producers in the Marcellus Shale can make a 20% pre-tax return on investment in the Marcellus even if oil goes below $40 a barrel. The Eagle Ford, Utica and Bakken are still that profitable at less than $60 a barrel. In fact, according to the IEA, only 4% of shale production needs $80 oil to return that 20% pre-tax profit.
I further break down the oil and gas industry in the energy sector into four rough sub-sectors: machinery and equipment; transport and storage; field services (to include offshore;) and the drillers, both land-based and offshore. It would be pretty cumbersome to put all these in a single article, so I will cover the first two sub-sectors here and will include the other two big sectors, plus (bonus round!) two more speculative special situations I think have superb potential in my second post. Let's start with…
Machinery & Equipment
National Oilwell Varco's stock symbol is NOV, which customers and nervous competitors sometimes say stands for "No Other Vendor." With good reason: NOV controls about 50% of the deepwater equipment market, while competing against the likes of Halliburton, Baker Hughes, FMC Technologies (NYSE:FTI), Weatherford International (NYSE:WFT), and Cameron International (NYSE:CAM), all fine companies in their own right. (I have not included Dresser-Rand Group Inc (NYSE:DRC) because its merger with giant conglomerate Siemens (OTC:SIEGY) looks like a done deal, or Bolt Technology Corporation (NASDAQ:BOLT), because it is a smaller player, albeit with great strength in the niche market of subsea vehicles and equipment.)
These firms, and scores of others, build, sell and service entire rig systems, both offshore and land-based, as well as any of the hundreds of individual pipes, pumps, control systems, fluid handling and power systems, and all the rest that goes into the rigs. They also provide wellbore support with everything from drill bits and drilling fluid to coring services and waste management. For an in-depth overview, I suggest you go to nov.com and click on "Products." Every single item on that page has its own link for further info.
The bottom line is—without these companies making finely-honed, sturdy, and reliable equipment, there would be no exploration or production of oil and gas. As investors, we don't need in-depth knowledge of all the components that make this all come together; we need to know (1) that this is an essential industry that offers above-average growth, and (2) which companies are the most attractive to buy right now. While many other industries have run to new highs and are now on every momentum investor's buy list, none of these firms have set the world on fire. NOV is selling for 5% less than it did 12 months ago. BHI (well, until about 3:35 Thursday afternoon, anyway) was down 14%, HAL is down 4%, and WFT is down 4%. CAM is up 5%, while FTI is up 9%, the only one that has even come close to keeping pace with the market.
I don't think you could go wrong buying any of these. But of the 5, leaving BHI out for now, HAL has the biggest enterprise value, NOV the lowest P/E, HAL and FMC the best ROA and ROE, NOV the best operating and net margins and the lowest debt/equity ratio, and HAL and NOV the best 5-year revenue and earnings growth. Of the two that seem to float to the top here, NOV beats HAL on valuation criteria like Price/Book, Price/Sales and the PEG Ratio (Price/Earnings Growth.) Of the bigs, NOV is still our favorite. And when the biggest, most competitive and most highly-regarded firms in the industry have sold off every bit as much as the less well-managed or less well-capitalized firms, why not buy the best? We are buyers first of NOV, then of HAL.
Transport and Storage
The benefit of owning pipeline and storage companies is that they get paid on through-put, not on the price of the commodity. Also, these are by and large domestic, or at least North American, firms, so their earnings are less dependent upon the currently-weaker economies of Europe, Asia and the emerging markets. If Americans consume more oil and gas this winter, the transport and storage outfits make money. It doesn't much matter if that oil-equivalent barrel is priced at $70 a barrel or $100 a barrel; they get paid to transport something regardless of its value. Think of these companies as a UPS or FedEx (NYSE:FDX) - whether the contents of the package UPS delivers is worth $10 or $100, UPS charges by weight and distance, not by the value of the contents. That's what pipeline companies do. The storage end of the equation is slightly different; the prices received for storage are less subject to federal regulation and are therefore more subject to the laws of supply and demand.
So what are the best pipeline companies to own? That depends upon your end-goal. If you're looking solely for current income you might buy Niska Gas Storage (NYSE:Niska Gas Storage Partners LLC (NYSE:NKA) which pays at a 30% yield - but has lost 69% of its value over the last 12 months. I can name another dozen that pay double-digit yields, though I personally wouldn't buy a one of them for myself or our clients. I'd rather have steady, conservative growth with a well-managed company that increases its DCF (distributable cash flow) every year and its distributions as often.
Pipeline firms don't really "compete" with each other; FERC, the Federal Energy Regulatory Commission, regulates most aspects of interstate pipelines, and gives an effective monopoly to the pipeline from point A to point B and sets rates for flow that are "just and reasonable." So when reviewing competitive position in this sub-sector, we want to select those companies with management that is most astute and a network of pipelines that are in basins with lots of proven reserve life left in them instead of old fields only pumping with tertiary recovery methodologies.
A few names percolate to the top as pipeline builders in the newest and most prolific areas. Among these are TransCanada (NYSE:TRP), Enbridge (NYSE:ENB), Oneok (NYSE:OKE) and Statoil (NYSE:STO).
Statoil? Statoil? What am I smoking, you ask? For those who only know STO as the Norwegian state oil company, a powerhouse in Europe and the supplier of the world's newest LNG terminal (the Klaipeda terminal in Lithuania, which completely eradicates the Russian stranglehold on Lithuania,) you may wonder at its inclusion here. But STO also spent $4 billion to buy the US company Brigham Exploration, a major Bakken player, and is hard at work building storage facilities here in the U.S. STO is now a serious producer in the Marcellus and the Eagle Ford. And in addition to its 5,000 miles of pipelines in Europe, it now owns pipelines from the Marcellus shale direct to New York City and Toronto. This is yet another concrete example that there is tremendous overlap in each of these sub-sectors - here's a major integrated oil company that is now expanding its pipelines and storage divisions.
Midstream: Capturing Value in the US MarketMidstream: Capturing Value in the US Market
You'll notice there is something missing from my analysis of the transporters. We made superb money and attracted lots of followers in previous years talking about the steady-Eddie income, growth and tax benefits of MLPs. Where are the MLPs (Master Limited Partnerships) that have done so well for us in the past? Well, old favorites Kinder Morgan Energy Partners LP (NYSE:KMP) and El Paso Pipeline Partners LP (NYSE:EPB) are being absorbed by our also-favored parent company Kinder Morgan Inc (NYSE:KMI). That leaves Plains All American (NYSE:PAA) and, for both growth and yield, QR Energy (NYSE:QRE), Linn Energy (NASDAQ:LINE), and EV Energy (NASDAQ:EVEP) atop our few remaining MLPs we might still consider buying, except...
...I am more and more interested in acquiring the parent companies that pay ordinary dividends rather than the MLPs that pay tax-advantaged distributions via K-1s these days. My reason has nothing to do with K-1s, however. It has to do with the growing sentiment in Congress to do in the U.S. what the Canadians did in 2011 and remove the tax-advantaged status of LPs. It makes me uneasy at best. It doesn't have to even happen to cause a big downdraft in MLPs; just being floated as an idea by some Congressman will be enough to send them down 10% in a day. We've seen enough of that kind of volatility, thank you. If I have to pick only one, it would be KMI.
Bottom line - we are buyers of NOV, HAL, STO and KMI, with a dozen more to come next. In Part II, I'll cover the dirt-cheap drillers (where we are placing most of our funds right now) and the biggest and best servicing outfits, as well as our favorite big integrated oil and gas companies. Oh, and those special situations for
· 5
Evgeniy Piskachev
The price action has drifted above and below $400 in recent days and Bitcoin (BTC-eUSD) saw large selling pressure that pushed the price to a low of $375.00, slightly above the low posted last week at $369.00. The price action tested the first daily support today at $378.24, but was rejected. The second daily support lies at $366.62, while the first daily resistance level lies at $398.24. Trading volumes surged last week as the price extended above $400, with the Chinese exchanges experiencing the largest volume. Many exchanges experienced a rise in volumes in excess of 100%, such as BitStamp and Bitfinex, with larger percentage increases in the Chinese exchanges.
The U.S. Marshals Service has announced that it will auction 50,000 Bitcoins, worth around $20 million that were seized from Ross Ulbricht, accused of running the Silk Road dark net market. The deadline for bids ends on Monday December 1st, with the auction taking place over two rounds. The Bitcoins being auctioned have been confiscated by computers owned by Ulbricht, according to the US Marshals service. The large amount of Bitcoins available may supress the price, increasing supply on the markets.
Bankiter, a Spanish bank, has invested in a Bitcoin start-up, known as Coinffeine, which aims to create a new distributed exchange platform. Coinffeine is developing a distributed platform for the exchange of fiat money for crypto-currencies in an anonymous way. The design allows users to send money (fiat or crypto-currency) without the use of banks in a peer-to-peer fashion. Bankiter will lend support to the start-up and may become a client of Coinffeine in the future. Low fees are another advantage provided by this platform for users.
The chart below shows the 2-hour price action on the BitStamp exchange, along with the Ichimoku cloud indicator. The price action has closed below the cloud and the lagging line is now below the cloud, indicating the start of a downward move. The price additionally looks set to close below the base line, signalling bearish momentum. The cloud will act as resistance going forward at around the $386-$395 level for the next couple of days. The price action attempted to break above the cloud earlier today but was rejected, therefore the price should remain below the $395 level for the time being.
The U.S. Marshals Service has announced that it will auction 50,000 Bitcoins, worth around $20 million that were seized from Ross Ulbricht, accused of running the Silk Road dark net market. The deadline for bids ends on Monday December 1st, with the auction taking place over two rounds. The Bitcoins being auctioned have been confiscated by computers owned by Ulbricht, according to the US Marshals service. The large amount of Bitcoins available may supress the price, increasing supply on the markets.
Bankiter, a Spanish bank, has invested in a Bitcoin start-up, known as Coinffeine, which aims to create a new distributed exchange platform. Coinffeine is developing a distributed platform for the exchange of fiat money for crypto-currencies in an anonymous way. The design allows users to send money (fiat or crypto-currency) without the use of banks in a peer-to-peer fashion. Bankiter will lend support to the start-up and may become a client of Coinffeine in the future. Low fees are another advantage provided by this platform for users.
The chart below shows the 2-hour price action on the BitStamp exchange, along with the Ichimoku cloud indicator. The price action has closed below the cloud and the lagging line is now below the cloud, indicating the start of a downward move. The price additionally looks set to close below the base line, signalling bearish momentum. The cloud will act as resistance going forward at around the $386-$395 level for the next couple of days. The price action attempted to break above the cloud earlier today but was rejected, therefore the price should remain below the $395 level for the time being.
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Evgeniy Piskachev
Home Depot Inc (N:HD), the world's largest home improvement chain, reported a 14 percent rise in quarterly profit as an improving job market encouraged Americans to spend more on renovations.
Home Depot quarterly profit rises 14 percentHome Depot quarterly profit rises 14 percent
Net income rose to $1.54 billion, or $1.15 per share, in the third quarter ended Nov. 2, from $1.35 billion, or 95 cents per share, a year earlier.
Same-store sales rose 5.2 percent.
Net sales rose 5.4 percent to $20.52 billion.
Home Depot quarterly profit rises 14 percentHome Depot quarterly profit rises 14 percent
Net income rose to $1.54 billion, or $1.15 per share, in the third quarter ended Nov. 2, from $1.35 billion, or 95 cents per share, a year earlier.
Same-store sales rose 5.2 percent.
Net sales rose 5.4 percent to $20.52 billion.
· 5
Evgeniy Piskachev
Post pubblicati Драги: экономический прогноз все больше отрезвляет
Экономика еврозоны в летние месяцы потеряла импульс к росту, а экономический прогноз "все больше отрезвляет", заявил председатель Европейского центрального банка (ЕЦБ) Марио Драги, выступая в комитете по экономической и монетарной политике Европарламента в понедельник...
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178
andrey Cheredin
2014.11.18
Что думал ,сама экономика начнет расти, без стимулов . Лето просто просидел ничего сделал для экономике , потом еще удивляются почему экономика падает в рецесию .
Evgeniy Piskachev
Post pubblicati Британский премьер вновь пригрозил России ужесточением санкций
Подход властей РФ к ситуации на востоке Украины недопустим и может привести к ужесточению санкций со стороны США и ЕС, заявил в пятницу премьер-министр Великобритании Дэвид Кэмерон...
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158
Evgeniy Piskachev
Britain's finance ministry will hand the country's anti-fraud agency all the funds it needs to conduct a criminal investigation into alleged rigging of the $5.3 trillion-a-day currency market, a Treasury source said.
UK hands fraud agency all funds needed for forex probe: sourceUK hands fraud agency all funds needed for forex probe: source
Finance minister George Osborne has written to the Serious Fraud Office (SFO) to say it will be given the financial support it needs for the investigation.
"I understand that the SFO is in the early stages of a major investigation into forex trading. Given the importance of this work, the Treasury will provide the required funding for this investigation," the source said the letter states.
The SFO opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market in July and said individuals could be charged next year. This is in addition to a regulatory clampdown which resulted in six major banks being fined a total of $4.3 billion on Wednesday.
The fines were for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation.
The levies brought total penalties for manipulation of financial benchmarks to more than $10 billion over two years.
UK hands fraud agency all funds needed for forex probe: sourceUK hands fraud agency all funds needed for forex probe: source
Finance minister George Osborne has written to the Serious Fraud Office (SFO) to say it will be given the financial support it needs for the investigation.
"I understand that the SFO is in the early stages of a major investigation into forex trading. Given the importance of this work, the Treasury will provide the required funding for this investigation," the source said the letter states.
The SFO opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market in July and said individuals could be charged next year. This is in addition to a regulatory clampdown which resulted in six major banks being fined a total of $4.3 billion on Wednesday.
The fines were for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation.
The levies brought total penalties for manipulation of financial benchmarks to more than $10 billion over two years.
· 3
Evgeniy Piskachev
Post pubblicati Прогноз на 14 ноября
EUR/USD в четверг сумела восстановиться к 1.2470, но мы остаемся медведями ниже ключевого уровня 1.2500. Формируется треугольник, который, вероятно, будет пробит вниз...
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256
Evgeniy Piskachev
Gold price rose slightly in early Asia on Friday on hopes for physical demand as the end of year holiday season approaches.
Gold prices gain slightly in Asia on physical demand hopesGold prices up in AsiaOn the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,161.50 a troy ounce, up 0.05%, after hitting an overnight session low of $1,153.40 and off a high of $1,167.30.
Overnight, gold prices rose earlier on news more sought first-time joblessness assistance in the U.S. last week, which weakened the dollar, though the yellow metal gave back gains on sentiments the Federal Reserve will hike interest rates next year.
The number of individuals filing for initial jobless benefits in the week ending Nov. 8 rose by 12,000 to a seasonally adjusted 290,000 from the previous week’s total of 278,000.
Analysts had expected jobless claims to rise by 4,000, and the numbers gave investors reason to sell the greenback for profits, thus boosting gold's image as a hedge to a softer greenback.
The dollar has surged in recent weeks as investors prepare for U.S. monetary policy to grow less accommodative while Europe and Asia move in the opposite direction to kick-start their recoveries.
Gold gave back most of its gains later in the session on sentiments the Federal Reserve remains on track to raise interest rates next year, as a longer-range view of U.S. economic indicators points to recovery.
Silver futures for December delivery was flat at $15.620 a troy ounce. Copper futures for December delivery were also flat at $2.990 a po
Gold prices gain slightly in Asia on physical demand hopesGold prices up in AsiaOn the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,161.50 a troy ounce, up 0.05%, after hitting an overnight session low of $1,153.40 and off a high of $1,167.30.
Overnight, gold prices rose earlier on news more sought first-time joblessness assistance in the U.S. last week, which weakened the dollar, though the yellow metal gave back gains on sentiments the Federal Reserve will hike interest rates next year.
The number of individuals filing for initial jobless benefits in the week ending Nov. 8 rose by 12,000 to a seasonally adjusted 290,000 from the previous week’s total of 278,000.
Analysts had expected jobless claims to rise by 4,000, and the numbers gave investors reason to sell the greenback for profits, thus boosting gold's image as a hedge to a softer greenback.
The dollar has surged in recent weeks as investors prepare for U.S. monetary policy to grow less accommodative while Europe and Asia move in the opposite direction to kick-start their recoveries.
Gold gave back most of its gains later in the session on sentiments the Federal Reserve remains on track to raise interest rates next year, as a longer-range view of U.S. economic indicators points to recovery.
Silver futures for December delivery was flat at $15.620 a troy ounce. Copper futures for December delivery were also flat at $2.990 a po
· 3
Evgeniy Piskachev
Post pubblicati Движение основных валютных пар на 13 ноября
EUR/USD торгуется в узком диапазоне 1.2390/2500 после просадки к 2-летнему минимуму в 1.2350 на прошлой неделе. Краткосрочная картина остается негативной ниже отметки 1.2500. Пробой выше мог бы открыть путь для коррекционного восстановления к 1.2650. Уход ниже 1...
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249
Evgeniy Piskachev
Gold prices held steady to weaker in early Asia on Thursday ahead of a raft of data from China that will offer direction to industrial metals like copper.
Gold prices steady to weaker in early Asia, China data eyed for copperGold prices steady to weaker in AsiaOn the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,161.20 a troy ounce, up 0.17%, after hitting an overnight session low of $1,156.70 and off a high of $1,169.40.
Overnight, gold prices moved lower on Wednesday in a quiet trading session void of major U.S. economic indicators, pressured downward by a firmer dollar.
Soft European data sent the dollar gaining on Wednesday, which came at gold's expense.
Earlier Wednesday, Eurostat, the European Union's statistical office, reported that industrial production in the euro area increased by 0.6% in September, missing forecasts for a monthly gain of 1.0%. Industrial production in August fell by 1.4%.
Year-on-year, industrial production inched up 0.6% in September from a year earlier, beating expectations for a 0.2% decline and after dropping at a rate of 0.5% in the preceding month.
The lackluster report stoked concerns over the outlook for economic growth in the single currency bloc after weak Italian data on Monday fueled fears that its economy is falling back into a recession.
Meanwhile, the dollar saw demand due to ongoing expectations that the U.S. economy will continue to recover while European and Asian economies take steps to loosen monetary policy to ward off deflationary pressures.
Silver futures for December delivery fell 0.03% at $15.635 a troy ounce. Copper futures for December delivery were down 0.06% at $3.027 a pound.
In China, October data releases at 1330 local time (0530 GMT), include industrial output, retail sales and fixed-asset investment.
Industrial output is seen steady at 8.0% while January-October fixed-asset investment growth is expected to have fallen for a fourth straight month to just 15.9% year-on-year, the slowest pace of growth since December 2001.
October retail sales growth is expected to have held at September's pace of 11.6% year-on-year.
Gold prices steady to weaker in early Asia, China data eyed for copperGold prices steady to weaker in AsiaOn the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,161.20 a troy ounce, up 0.17%, after hitting an overnight session low of $1,156.70 and off a high of $1,169.40.
Overnight, gold prices moved lower on Wednesday in a quiet trading session void of major U.S. economic indicators, pressured downward by a firmer dollar.
Soft European data sent the dollar gaining on Wednesday, which came at gold's expense.
Earlier Wednesday, Eurostat, the European Union's statistical office, reported that industrial production in the euro area increased by 0.6% in September, missing forecasts for a monthly gain of 1.0%. Industrial production in August fell by 1.4%.
Year-on-year, industrial production inched up 0.6% in September from a year earlier, beating expectations for a 0.2% decline and after dropping at a rate of 0.5% in the preceding month.
The lackluster report stoked concerns over the outlook for economic growth in the single currency bloc after weak Italian data on Monday fueled fears that its economy is falling back into a recession.
Meanwhile, the dollar saw demand due to ongoing expectations that the U.S. economy will continue to recover while European and Asian economies take steps to loosen monetary policy to ward off deflationary pressures.
Silver futures for December delivery fell 0.03% at $15.635 a troy ounce. Copper futures for December delivery were down 0.06% at $3.027 a pound.
In China, October data releases at 1330 local time (0530 GMT), include industrial output, retail sales and fixed-asset investment.
Industrial output is seen steady at 8.0% while January-October fixed-asset investment growth is expected to have fallen for a fourth straight month to just 15.9% year-on-year, the slowest pace of growth since December 2001.
October retail sales growth is expected to have held at September's pace of 11.6% year-on-year.
· 3
Evgeniy Piskachev
Crude oil prices fell marginally in Asia on Thursday after U.S. industry stockpile data showed a fairly large drop in crude stocks ahead of key government data.
NYMEX crude dips slightly in Asia as API drop fails to rallyNYMEX crude weaker in AsiaThe American Petroleum Institute showed a 1.5 million-barrel decline in crude supplies, a 1.1 million-barrel build in gasoline inventories and a 1.3 million-barrel drop in distillate stocks in the past week in data released late Wednesday.
Analysts expect stockpile data from the government to see a fall of 750,000 barrels for the past week, a 1.333 million barrels drop in distillates and a 517,000 barrels in crease in gasoline.
The closely watched survey from the Energy Information Administration is due at 11 a.m. EST Thursday.
On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $76.89 a barrel, down 0.04%, after hitting an overnight session low of $76.88 a barrel and off a high of $78.06 a barrel.
Brent, the global benchmark, briefly slid below $80 a barrel in intraday trading on Wednesday. The front-month December contract settled down The front-month December contract settled down 1.6% at $80.38 a barrel on ICE Futures Europe, the lowest settlement since September 2010.
Overnight, crude futures fell on Wednesday amid sentiments that OPEC countries will leave output unchanged at a Nov. 27 meeting despite falling oil prices.
The Organization of the Petroleum Exporting Countries' monthly report released earlier showed that its collective crude output fell by 226,400 barrels a day in October to a total of 30.25 million barrels.
According to the agency, the decline was led by Saudi Arabia, which cut production by approximately 69,000 barrels per day to 9.6 million.
Despite the fall in OPEC output, market players remained concerned over a global supply glut, and expect that the Nov. 27 meeting in Vienna will lead to no major organizational decisions to trim global output by a significant amount to shore up prices.
Saudi Arabia has expressed a willingness to let prices slide on the presumed expectations that U.S. shale producers will halt operations as a result, as such production costs more than traditional drilling.
Once U.S. shale producers table their operations for profitability reasons, prices would presumably rise as the global economy absorbs excess supply.
NYMEX crude dips slightly in Asia as API drop fails to rallyNYMEX crude weaker in AsiaThe American Petroleum Institute showed a 1.5 million-barrel decline in crude supplies, a 1.1 million-barrel build in gasoline inventories and a 1.3 million-barrel drop in distillate stocks in the past week in data released late Wednesday.
Analysts expect stockpile data from the government to see a fall of 750,000 barrels for the past week, a 1.333 million barrels drop in distillates and a 517,000 barrels in crease in gasoline.
The closely watched survey from the Energy Information Administration is due at 11 a.m. EST Thursday.
On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $76.89 a barrel, down 0.04%, after hitting an overnight session low of $76.88 a barrel and off a high of $78.06 a barrel.
Brent, the global benchmark, briefly slid below $80 a barrel in intraday trading on Wednesday. The front-month December contract settled down The front-month December contract settled down 1.6% at $80.38 a barrel on ICE Futures Europe, the lowest settlement since September 2010.
Overnight, crude futures fell on Wednesday amid sentiments that OPEC countries will leave output unchanged at a Nov. 27 meeting despite falling oil prices.
The Organization of the Petroleum Exporting Countries' monthly report released earlier showed that its collective crude output fell by 226,400 barrels a day in October to a total of 30.25 million barrels.
According to the agency, the decline was led by Saudi Arabia, which cut production by approximately 69,000 barrels per day to 9.6 million.
Despite the fall in OPEC output, market players remained concerned over a global supply glut, and expect that the Nov. 27 meeting in Vienna will lead to no major organizational decisions to trim global output by a significant amount to shore up prices.
Saudi Arabia has expressed a willingness to let prices slide on the presumed expectations that U.S. shale producers will halt operations as a result, as such production costs more than traditional drilling.
Once U.S. shale producers table their operations for profitability reasons, prices would presumably rise as the global economy absorbs excess supply.
· 3
Evgeniy Piskachev
Post pubblicati Фунт в ежовых рукавицах у Банка Англии
Устойчивость британского фунта, словно резинового мячика, бодро всплывающего на поверхность независимо от того, кто и насколько глубоко его пытается топить, вызывает уважение...
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152
Evgeniy Piskachev
Post pubblicati Как торговать по EUR/USD?
Как поется в известной старой песне, «дождь не может длиться вечно». Вот и по паре EUR/USD, наконец, назрела коррекция: в эти дни мы наблюдаем консолидацию после тестирования нового 2-летнего минимума на 1.2350 на минувшей неделе...
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355
Evgeniy Piskachev
U.S. stock index futures were lower on Wednesday, putting major indexes on track to retreat after the Dow and S&P 500 closed at record highs for a fifth consecutive day.
Futures lower after latest Dow, S&P recordsFutures lower after latest Dow, S&P records
* Financial companies will be in focus after global regulators fined five major banks, including UBS (VX:UBSN), HSBC (L:HSBA) and Citigroup (N:C), $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market.
* Tuesday's record close for the S&P 500 marked its 40th new closing high for the year, versus 45 in 2013. The last time the index closed at a record high in five straight days was in May 2013, with the next longest streak being an 8-day run in June 1997. The Dow is on a 6-day winning streak, its longest run of gains since June.
* The S&P 500 has rallied more than 9.5 percent from a six-month low in October, buoyed by supportive economic data and solid corporate earnings reports. For the year so far, the index is up 10.4 percent.
* As earnings season draws to a close, Thomson Reuters data through Tuesday morning showed that of 449 companies in the S&P 500 to report earnings, 74.6 percent beat expectations, above the 63 percent beat rate since 1994 and 67 percent for the past four quarters. Earnings overall are expected to grow 10 percent over the year-ago period.
* Macy's (N:M) and Cisco Systems (O:CSCO) are among the S&P 500 companies scheduled to report earnings on Wednesday.
* In a light day for economic data, wholesale inventory data for September is due at 10 a.m. (1400 GMT). Expectations call for a 0.2 percent rise versus the 0.7 percent increase in the prior month.
* Susquehanna Bancshares (O:SUSQ) surged 34.3 percent to $13.30 in premarket trade after the company agreed to be acquired by BB&T Corp (N:BBT) for about $2.5 billion.
* European shares fell on Wednesday, with HSBC losing ground after the fine by global regulators. (EU)
* Japanese stocks scaled seven-year highs, while Asian shares outside Japan dipped slightly, amid expectations that Prime Minister Shinzo Abe will postpone a planned sales tax hike to avoid damaging a fragile economic recovery.
* S&P 500 e-minis were down 7.25 points, or 0.36 percent, with 122,831 contracts changing hands.
* Nasdaq 100 e-minis were down 12.25 points, or 0.29 percent, in volume of 21,020 contracts.
Futures lower after latest Dow, S&P recordsFutures lower after latest Dow, S&P records
* Financial companies will be in focus after global regulators fined five major banks, including UBS (VX:UBSN), HSBC (L:HSBA) and Citigroup (N:C), $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market.
* Tuesday's record close for the S&P 500 marked its 40th new closing high for the year, versus 45 in 2013. The last time the index closed at a record high in five straight days was in May 2013, with the next longest streak being an 8-day run in June 1997. The Dow is on a 6-day winning streak, its longest run of gains since June.
* The S&P 500 has rallied more than 9.5 percent from a six-month low in October, buoyed by supportive economic data and solid corporate earnings reports. For the year so far, the index is up 10.4 percent.
* As earnings season draws to a close, Thomson Reuters data through Tuesday morning showed that of 449 companies in the S&P 500 to report earnings, 74.6 percent beat expectations, above the 63 percent beat rate since 1994 and 67 percent for the past four quarters. Earnings overall are expected to grow 10 percent over the year-ago period.
* Macy's (N:M) and Cisco Systems (O:CSCO) are among the S&P 500 companies scheduled to report earnings on Wednesday.
* In a light day for economic data, wholesale inventory data for September is due at 10 a.m. (1400 GMT). Expectations call for a 0.2 percent rise versus the 0.7 percent increase in the prior month.
* Susquehanna Bancshares (O:SUSQ) surged 34.3 percent to $13.30 in premarket trade after the company agreed to be acquired by BB&T Corp (N:BBT) for about $2.5 billion.
* European shares fell on Wednesday, with HSBC losing ground after the fine by global regulators. (EU)
* Japanese stocks scaled seven-year highs, while Asian shares outside Japan dipped slightly, amid expectations that Prime Minister Shinzo Abe will postpone a planned sales tax hike to avoid damaging a fragile economic recovery.
* S&P 500 e-minis were down 7.25 points, or 0.36 percent, with 122,831 contracts changing hands.
* Nasdaq 100 e-minis were down 12.25 points, or 0.29 percent, in volume of 21,020 contracts.
· 4
Evgeniy Piskachev
Post pubblicati Медь опускается до однонедельного минимума на сильном долларе
Во вторник фьючерсы на медь упали до недельного минимума, поскольку заметно окрепший доллар США и спекуляции, что замедление экономического роста в Китае будет сдерживать спрос на промышленный металл, оказывают давление...
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154